We received $21.4 million in donations, via more than 2,300 donations, the largest of which was $3.3 million from the Australian Government. The smallest was just $1, while the median donation was $50, reinforcing the collective impact that even small donations can have.
FRRR’s operations are funded through investment returns, contributions from donations and grants, and occasional consulting projects. Most operating income ($3.2M) was received from donations and grants, which enable us to support and engage with grantees and applicants, and to undertake the necessary due diligence to ensure that our donors’ generous contributions get to where they are of most value. This component varies from program to program.
As at 30 June 2022 we had net assets of $30.6 million. This includes the main corpus, which was valued at $13.7 million – down 6.61% on the prior year, reflecting the tumultuous markets. Despite this, under the watchful eye of our investment advisors Koda Capital, it still returned $665,908, contributing 23% to our core operating costs.
FRRR’s Investment Policy reflects the ethical and impact requirements to not knowingly invest in an organisation that operates at the expense of the environment, human rights, the public safety, and the communities in which the organisation conducts its operations or the dignity of its employees. Where possible, we have a preference for investments that benefit regional and rural Australia and that are aligned with FRRR’s strategic aims, which includes impact investments.
The Disaster Resilience and Recovery Fund, which we launched in 2019, stood at $4.5 million, a decline of 3.59% on the prior year, reflecting volatility in financial markets. Pleasingly, the Fund attracted further donations of $300,212 during the year. We made our first distributions from this fund this reporting year, with three grants totalling $50,000 supporting drought resilience, building future capacity and supporting an online community forum and information hub. We plan to make a further $200,000 in distributions this coming year for long-term recovery and future preparedness.
You can find more detailed analysis of our performance on the Grant & Develop or Leverage & Broker pages, including a map of where funds were awarded, by clicking the buttons below.
For more detailed financials, explore the accounts lodged with ACNC. Note that they are based on funds paid, while this report is based on grants awarded.