Background
The Melbourne Newsboys Club provided a meeting place in the city where newsboys could gain access to a range of services, including education, social, recreation, medical and dental. The Club helped shape the lives of its members in a positive way, and many former newsboys still talk fondly of their days at the Club and the significant impact it had on their lives.
In 1973, the Committee had the foresight to sell the Melbourne Newsboys Club building in Little Collins Street, Melbourne, along with the country holiday property, Milgrove. It was believed that by establishing a Foundation and providing grants to the increasing numbers of youth organisations, more young people and children throughout Victoria could be supported to reach their full potential.
The proceeds from the sales, along with donations from community members, have been invested well. With $806,456 in 1974, grant allocations in that year totalled $16,177. Since then the Foundation’s investment portfolio has grown to $22,774,919 in 2007, providing sufficient income for grant allocations totalling $999,645 to be made in the 2006–07 financial year. The Foundation has allocated grants of over $9 million since it was established in 1974.
