Governance

Legal Status

The Foundation was established in 1965 and operated under a legal charter authorised by the Attorney General of New South Wales. It is now regulated by the Charitable Fund Raising Act 1991, the Associations Incorporation Act 1984 and the Income Tax Assessment Act 1997. The Foundation has income tax exemption and deductible gift recipient status.

Management

The Governor of New South Wales, currently Her Excellency Professor Marie Bashir AC, is the Patron of the Foundation.

The Foundation is managed by a Board of Directors drawn from business, legal, grazing, parliamentary and education sectors. All directors have links with rural or remote communities. The current directors are:

Clifford R. Cowdroy BA, CT, FACE, AAVAA – Chairman
Cliff has extensive experience in education as Teacher, Principal, Inspector and Director of Schools including Broken Hill & the Far West. He was team leader for restructuring of Distance Education using advanced communication technologies for isolated students. He has been allied to TAFE and community colleges, curriculum planning and performing arts. Cliff is an organist and chorister (RSCM affil.), a fine arts consultant and valuer. He received the inaugural Commonwealth Electorate Community Service Award in 2007. Cliff has been a director of the Foundation since 1995 and Chairman since 2000.

Peter W. Warne FCA, JP – Treasurer
Peter is a chartered accountant and registered tax agent, recently retired from practice on Sydney’s North Shore. He has received a Rotary Community Service Award for his extensive involvement with community organisations such as Old People’s Welfare, the Chamber of Commerce and Meals on Wheels. He joined the Board in 2006.

Malcolm Elmslie BSc, BBus, JP
Malcolm is a grazier on the South Coast of NSW. Previously he was employed in the sugar industry and the Department of Defence. He is a director of the local pre-school, show society and sports ground trust. Malcolm has been a director of the Foundation since 1989.

The Hon. Duncan Gay MLC
Duncan is Minister for Roads and Ports and Deputy Leader of Government in the New South Wales Legislative Council. He was first elected as a member of the Legislative Council in March 1988 and has been a member of the National Party since 1974. Duncan has a family grazing property in Crookwell, NSW and has been a director of the Foundation since 2003.

Douglas C. Stewart LLB
Douglas was born and educated in Kempsey on the mid-north coast of New South Wales. He studied Law and has been a practising solicitor in Sydney for over 40 years. Doug was a Vice President of Rostrum Clubs of NSW for many years and has been a director of the Foundation since 2002.

Operation

The board meets quarterly to manage the affairs of the Foundation and to assess applications for bursaries.

Bursaries are funded by income from invested capital and donations. The number of students assisted each year is governed by the income available.

Standing sub-committees of the Board have responsibility for developing and implementing the investment strategy for the Foundation’s funds, for handling applications and for promotion.