Macquarie Group have announced the Macquarie 50th Anniversary Award, a $A50 million philanthropic commitment, to initiate or build on bold ideas to address social need.
It is expected to be awarded to five non-profit organisations ($A10 million each) over a five-year period to fund projects globally that will have a lasting community benefit. The winners will be selected by the Macquarie Group Foundation who will also manage the program.
“Supporting the communities in which we live and work has been an important part of Macquarie’s activities since our inception in 1969,” said Macquarie Group Chief Executive Officer Nicholas Moore. “In that time, our people have devoted thousands of hours to work with non-profit organisations around the world and contributed over $A330 million to drive social change at the local community level. We are delighted to mark our 50th anniversary by extending this tradition with a further $A50 million commitment to initiate or build on bold ideas which address areas of social need.”
Macquarie Group Chief Executive Officer designate and Macquarie Group Foundation Chair Shemara Wikramanayake said: “The Macquarie Group Foundation’s activities have always been driven by our people whose involvement in their communities is an important part of the work we have done over the last five decades. We encourage non-profits to be imaginative in their thinking about the enduring outcomes they can achieve with this funding.”
To be eligible for the Award, applicants must be a registered non-profit within the applicable country, must have a current minimum annual revenue of $A4 million, and have audited financial statements and a board of directors. They should propose a project that promises lasting community benefit and with a defined approach to measuring its social impact. The project should either be deliverable within a five-year period, with funding to be released according to an agreed project timeline, or demonstrate a strong sustainability model post funding period.
Applications for the Award are open from today, 17 September 2018 and will close on Friday, 16 November 2018. Finalists and winners will be announced from May 2019.
The Award application and detailed eligibility criteria can be found on www.macquarie.com/50award.