The George Alexander Foundation
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The George Alexander Foundation was established in June 1972, with an intitial gift from George Alexander of $30,000. The corpus of the Foundation has grown through further gifts from George Alexander and appreciation in the value of its investments to reach $15 million during the past year.
The George Alexander Scholarship Program, which was established in 2002, is the major program of the Foundation.
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History
In the early 1970s Roger Darvall, a Governor of The Ian Potter Foundation, inspired George Alexander with the idea of using his wealth to create a permanent philanthropic foundation rather than frittering it away with small gifts or giving it all away with one grand, but short-lived, gesture.
Roger Darvall made the further suggestion that the Governors of The Ian Potter Foundation could become trusrtees and administrators of The George Alexander Foundation. George Alexander did not want to decide who should receive gifts from his Foundation, so long as he was satisfied that the money was given wisely. The arrangement he made with The Ian Potter Foundation assured him that his money was used creatively while minimising administration costs.
The initial gift to establish The George Alexander Foundation was $30,000. Many further gifts, together with capital growth, have seen the corpus of the Foundation reach $15 million by 2006.
The George Alexander Foundation began with a broad philanthropic charter, but since 2001 it has focused on assisting young people fulfill their educational goals and addressing environmental problems.
Guidelines for the Foundation
The George Alexander Foundation supports activities in the following two areas:
Education
- To help talented young people achieve their potential in any endeavor
- To support programs designed to improve educational, employment and leadership opportunities for disadvantaged young people
Environment & Conservation
- To develop partnerships with communities, government and the private sector to prevent irreversible damage to the environment and to encourage the maintenance of biodiversity
- To support programs which enable students to gain practical experience in conseravtion and land management
- To support "hands-on" Local community environmental projects where there is a strong volunteer component
Exclusions
The George Alexander Foundation will not make grants to support:
- Recurrent expenditure for which no future provision is in sight
- Capital or endowment funds established to provide a corpus for institutions
- Funding via an auspicing institution
Revised guidelines for The George Alexander Foundation come into effect from 2007. Please refer to the website www.gafoundation.org.au.
Distribution
2005-06
During the 2005-06 financial year, 83 applications were considered. A total of 21 grants were awarded, ranging in value from $2,200 to $150,000.
Distributions made during the 2005-2006 financial year totalled $481,400. As of 30 June 2006, the amount committed but not yet paid for approved grants was $872,000 and the value of the grants approved during this year was $773,480.
Sources:
- The George Alexander Foundation 2005/06 Distribution Report