"Philanthropy Australia partnered with FRRR in developing a new program, leveraging their extensive experience and governance in managing grants programs. FRRR led communication to the communities about the program opportunities, using their strong on-the-ground knowledge of community consultation and community development. In addition, they developed an innovative assessment tool to support the selection process. Philanthropy Australia members have found the approach engaging, and informative and are considering adopting this sophisticated process in their own practice."
FRRR is a not-for-profit organisation which is overseen by a Board of Directors that exercises the powers vested in it by the Corporations Law and the Company's Constitution. The Board is directly responsible to our two founding members - the Federal Government and the Sidney Myer Fund - for the long-term health and prosperity of the Foundation.
As you would expect, we follow strong governance processes, especially given we administer funds on behalf of a number of organisations and the public. The Finance and Audit Committee, which meets quarterly, oversees all aspects of financial management of the Foundation. FRRR's Annual Financial Report is independently audited each year, ensuring our financial processes meet all statutory requirements.
Strong processes ensure equity
In assessing grant applications, as well as requests to host Donation Accounts, our staff undertake a strict due diligence process. They then make recommendations on the projects to fund, taking into account donor preferences and available funds.
Those recommendations are then put forward to a grants assessment committee. Each committee comprises at least one member of the FRRR Board of Directors, a staff member, a relevant subject matter expert and often a representative from a collaborating funding organisation.
Once this group assesses applications, the projects recommended for funding must be approved by a quorum of the Board.
This process ensures that all grants are therefore fairly considered and assessed. This also gives donors confidence that the funds are allocated to deserving projects.
A commitment to continuous improvement
During 2013/14, we continued updating our policies and procedures, and established an annual review process to ensure their currency. We have met all our regulatory obligations, including maintaining our fundraising licenses in each state and territory.
We continue to implement a review and evaluation process for our programs, ensuring that at least one program is reviewed each year. In the 2013/14 financial year, we reviewed the McEwen Foundation Grants for the Goulburn Valley. The recommendations from this review have helped shape its future direction.
In 2014/15, we will review the 2011 Repair-Restore-Renew program; the Culture, Arts, Tourism and Community Heritage program; and the REAPing Rewards education grants.
These reviews assess the effectiveness and efficiency of the program, its impact and the ongoing needs, ensuring our programs remain relevant and responsive to community needs.