2 NEWSBOYS FOUNDATION ANNUAL REPORT 2018 It is with much pleasure that we present our 125th Annual Report, for the year ended 30 June 2018. We are proud that for 125 years, first as a Club for newsboys and more recently as the Foundation, we have been helping to improve lives of young Victorians, especially those who come from disadvantaged circumstances. 125 years ago, William Mark Forster founded what has now become the Newsboys Foundation. It commenced as a club to provide education, trade skills and leisure activities to the young newsboys in marvellous Melbourne. The City Newsboys Society, as the club was initially known, flourished and grew over the years. Ms Edith Onians OBE successfully ran the Club for 58 years and provided a safe haven for the newsboys. The introduction of laws controlling the employment of young people and the age at which they could leave school resulted in the slow demise of the role of a newsboy. Thus, by the early 1970s the Melbourne Newsboys Club was no longer needed. Through the insight of the then Board, the city clubhouse and the Millgrove camp were sold and the proceeds were invested in the Newsboys Foundation, again with the specific aim of helping the youth of Victoria and particularly those from disadvantaged backgrounds. Thanks to the wise investment advice of the late Nigel Morgan and current Board member John Warner, we have seen the original corpus grow from approximately $800,000 to approximately $21.6 million. It is pleasing that the Foundation has now made grants totalling over $17 million. Interestingly, and I am sure it is an indication of the good that the Club and the Foundation has given to the youth of Victoria, there have only been five CEOs—the days of the Club saw only two and the Foundation now has its third. What is now the Newsboys Foundation has been part of Melbourne’s fabric for about two thirds of Melbourne’s history. William Mark Forster would be proud to know that his vision lives on and that what started as the City Newsboys Society is now, albeit in another form, continuing to achieve that for which he started it. Every year, when I review the Annual Report, I am both amazed and thrilled by the variety of support that we give to the recipient organisations and the wide ranging and innovative programs that are thereby funded. Despite this, it is clear that there is a continuing need to advance the cause of disadvantaged young people in Victoria. In particular, the problem of keeping young people engaged in education is not disappearing and the Foundation will continue to fund organisations seeking to solve this problem. In our 120th year we inaugurated the Newsboys Foundation Leadership Awards. In 2016 we determined to run these awards in conjunction with the Victorian Student Representative Council (VicSRC). This initiative has been well worthwhile and very talented young Victorians have been recognised for their leadership. David Trevorrow won the award in October 2017 and the winner of this year’s award is Whitney Eadon. In the past 12 months we have made grants totalling $679,602 to 32 organisations. In recent years we have been able to increase the corpus of the Newsboys Foundation Trust and make an annual grant. As at 30 June 2018, its corpus was $262,613. Donations to the Trust are tax deductible and a wonderful way to help us further expand the vison of the Newsboys Foundation. Once again, I must convey our gratitude and thanks to our wonderful and dedicated CEO, Sandy Shaw. Sandy is the public face of the Foundation and a wonderful ambassador for us. Our thanks also to her dedicated assistant, Lata Phoenix. Our very sincere thanks to our accountant, Jennifer Edwards. Without Sandy and her loyal team, the work of the Board would not be possible. As always, our very sincere thanks to John Warner for his excellent investment advice. Without John’s assistance in that regard, we would not be in the position to assist as many organisations as we do. Also, our sincere thanks to Grant Thornton for again conducting our audit on a reduced fee basis. Zich Zichy-Woinarski QC, Chairman For and on behalf of the Board of Directors, 22 October 2018 CHAIRMAN’S REVIEW