1

The Foundation for Young Australians Annual Report 2013

2

THE FYA WAY

3

The Foundation for Young Australians (FYA) is relentlessly optimistic about young people and their capacity and capability to envision and create the nation and the world in which they want to live and work.

Our mission is to create change with generations of young Australians.

Introduction

FYA is the only national independent non-profit organisation dedicated to all young people in Australia. Our role is to provide the tools and connections that equip them to tackle the world with courage, imagination and will. This involves finding and backing young learners, contributors and changemakers and providing a platform for engagement on a national scale.

In 2013 FYA did just that. Here’s how.

Courage. Imagination. Will.

4.3 million young Australians have this.

4

Update from FYA Board Chairman, Robert Milliner

Continuing our evolution

This year has seen another significant stage in the evolution of FYA as we move to more intensive implementation of the strategies discussed in last year’s report.

Unlimited Potential represented the culmination of our thinking and research over the last few years of the challenges and opportunities for developing Australia’s young people. Our message and commitment was clearly defined:

“Australia’s challenge is to create a society in which we sustain our standard of living; enhance our quality of life; protect and nurture our fragile environment; actively and generously contribute to the global family; and become a lighthouse nation to the world.

To achieve these goals we must prepare our young people for constant and rapid economic, social, cultural and environmental change in Australia and across the region. We need young Australians to be confident, connected, enterprising, innovative, optimistic, generous and happy.”

The focus on the three key attributes of young people as learners, changemakers and global citizens now drives not only our strategy, but the range of activities of the FYA team as they work together with our partners, supporters and stakeholders on a more holistic approach. The expansion of FYA’s approach has not only meant the addition of important new partners from both the private and public sectors, but the ability to engage more broadly in other community actions and discussions.

It is a great tribute to our CEO, Jan Owen, and her team that they have been able to integrate such a comprehensive program of actions into a complex environment as we work with young people, not only to develop their capabilities and capacities, but to advocate for their inclusion in key social debates.

We have also had the opportunity for the first time this year to publicly celebrate, at the Unleashed Summit and Awards, the many initiatives and direct actions taken by young people to advance themselves and their communities. At a personal level I found it enormously uplifting to see the sheer passion and commitment by many young people to step into situations where they were able to use their initiative to better the lives of others. We look forward to the continuing development of Unleashed as an annual opportunity both to recognise outstanding efforts and to celebrate the many ways, big and small, our younger generation can lead new responses to our social needs.

On behalf of the Board, may I express our sincere thanks to all of our partners, supporters and collaborators from the corporate, government and not-for-profit sectors. Their contributions, passion and dedication to collaboration reinforce the shared commitment we have to developing our young people and Australian society.

As will be clear from the long list of activities in the annual report, 2013 has been one of incredible activity and excitement in taking forward the Unlimited Potential commitments. The Board would like to thank Jan for her continued tremendous leadership and are delighted that during the year Jan

5

committed to another term as CEO of FYA. At the same time we recognise the amazing team of committed, determined, diverse and passionate FYA’ers who, day by day, provide the direction and support for the programs, research, collaboration, advice and mentoring that are critical to achieving the collective results we have seen this year.

I would like to thank our Board of Directors and the members of our Audit and Investment Committees for their selfless commitment, wisdom and passion for FYA and our goals. During this year we started the process of renewing our Board and Committees, a process that recognises not only the significant contribution of many of our Board and Committee members over the years, but the need to ensure we continue to bring other perspectives and capabilities to supporting the goals of FYA.

We recognise the substantial contribution of Ellen Koshland, who will retire from the Board in 2014, not only to FYA, but as the founder of the Education Foundation.

Ellen, on behalf of your Board colleagues, our sincere thanks and appreciation for your contributions and your willingness to share your wisdom.

Much has been achieved this year, but the real excitement lies in the opportunity to continue to develop FYA’s goals and to build further on the broad and deep collaborations of this year.

Robert Milliner FYA Board Chairman

6

Ellen is one of those rare people whose goal in life is to empower and equip young people to pursue their diverse dreams and fulfill their aspirations. She considers this an entitlement for everybody. And she hasn’t just talked about it. Ellen has devoted her life to driving the changes required for schools to meet the needs of all young people - not just the select few - to thrive and succeed in today’s world.

Ellen was well ahead of her time when she established the Education Foundation in the 1980s, which later formed an alliance with FYA. The Education Foundation set out to develop school programs that would unleash the potential of young Australians. Programs like Cityscape, set up in a major shopping centre; ruMAD?, the trailblazer for FYA’s Change It Up; WOW, still flourishing at FYA, and many other pioneering programs. Ellen was a visionary in commissioning leading research on education equity and on new school funding models. Her work had a major influence on the school funding model adopted in Australia this year.

One thing that defines Ellen is her passion for implementing new measures of education success. To move beyond tests of basic skills, to measuring the suite of capabilities required by all young people to thrive in the 21st Century. Capabilities like collaboration, creativity and intercultural and ethical understanding. Her commitment to new measures for learning success extends to all young people – here in Australia and globally. Her investment in the Global Education Leaders Program brings together education system leaders from Australia and across the world to work on the transformation required to equip young people for their future.

A tribute to retiring FYA Board Director, Ellen Koshland

7

Ellen has made an enormous contribution to FYA. She brought to FYA the highly successful and groundbreaking programs of the Education Foundation, which reignited FYA’s work and mission and provided a firm base of innovation on which to build the FYA we see today. During her time on the Board, Ellen has relentlessly driven an agenda of the central importance of education equity and success for all. FYA’s establishment of the Centre for New Public Education is a testament to Ellen’s leadership, drive and personal investment.

Ellen Koshland’s passion for young people, her vision, integrity, drive and humility will be sorely missed at FYA and we thank her profoundly for her contribution.

8

Update from CEO, Jan Owen AM

Unlimited Potential

Unlimited Potential, FYA’s proposal for a new commitment to young Australians, was launched in Parliament House, Canberra in March 2013. Unlimited Potential articulates our collective challenge to build a generation of young people who are future focused learners, enterprising changemakers and confident global citizens.

FYA’s development of, and investment in, the youth changemaking community was turbocharged through:

� Our National Indigenous Youth Leadership Academy, sparking 50 young Indigenous changemakers and their campaigns for social change to reach tens of thousands of people

� Graduates from IMPACT, our three-year Indigenous leadership program in the Northern Territory, successfully transitioning to university and work

� The fifth national cohort of Young Social Pioneers and alumni coming together at Unleashed to pitch new social innovations

� Change It Up igniting young regional changemakers from Broome to Horsham.

The year saw FYA, NAB and the Australian Council for Educational Research wrap up a hugely successful five-year partnership on NAB Schools First. We are immensely proud of the program’s legacy in elevating the importance of school-community partnerships – awarding 440 schools more than $18 million over the life of the initiative.

FYA continues to work with NAB, along with The Smith Family and the Federal Government, to support new employer-

led work exposure programs and scale the delivery and reach of FYA’s Worlds of Work program. This has set us up for the transition of all of FYA’s education to employment programs into a universal careers learning framework, Beyond the Classroom.

FYA’s Centre for New Public Education helped convene the not-for-profit community, principals, parents and organisations to launch alliances advocating for fairer school funding, and worked with 8,000 young Australians to shape their education at a classroom, school and system level. This resulted in an Australian first where students appeared as expert witnesses before the Senate Inquiry into teaching and learning.

We hosted the inaugural Nexus Australian Youth Summit, bringing next generation philanthropists and social entrepreneurs together to connect and collaborate, and the national Unleashed Summit and Awards, celebrating young changemakers at the Sydney Opera House.

We are proud of substantive new partnerships launched in 2013 with organisations that share our vision and mission with young people:

� Samsung Electronics Australia, to bring to life young people’s ideas for social change through the co-design of Adappt and Propeller

� Baz Luhrmann and Charles Darwin University supporting the expansion of IMPACT to support more young Indigenous leaders in the NT

� Shell, supporting Change It Up and Worlds of Work

9

� The Victorian Government, supporting Change It Up

� The Sidney Myer Fund, supporting Young People Without Borders, FYA’s Asia engagement strategy

� Lottery West to expand FYA into WA.

The Federal Government invested in the establishment and national roll out of Safe Schools Coalition Australia, building on the highly successful Safe Schools Coalition Victoria model (funded by the Victorian Government) at Gay and Lesbian Health Victoria. We are excited to launch this program in 2014.

Our research team produced the 15th edition of How Young People are Faring, with new research partner the National Centre for Vocational Education Research, which was delivered to government and corporate audiences in boardroom sessions across the country in partnership with KPMG.

I would like to acknowledge and thank our outstanding FYA Chair, Robert Milliner, and Board of Directors, our sub-committee

members and the FYA team of staff, volunteers and interns who all share a relentless optimism and belief in the courage, imagination and will of young people in Australia to shape the communities in which they live, create meaningful lives and work, and contribute to our nation and the world in ways we cannot yet imagine.

Ellen Koshland, who founded the Education Foundation, will retire in 2014. Ellen has been a significant contributor to new education thinking, innovation and philanthropy in Australia and a great personal supporter. She will be sorely missed by the FYA Board and organisation for her energy, creativity and keen intellect.

Finally, I would like to honour and celebrate the hundreds of thousands of young Australians with whom we are privileged to create change, in small and large ways, every day.

Jan Owen AM CEO, FYA

10

OUR WORK

11

Learners

To enable young people to be truly competitive in the job market, careers learning needs to start earlier, be embedded in the curriculum and be actively connected with business and industry.

Our aim: to influence and shape the education and learning experience of young Australians.

Learners initiatives

Centre for New Public Education: connecting people and building a fairer and future-focused education system through engagement, policy analysis and advocacy. As part of this important work, we helped convene the national Need to Succeed Alliance, which works with education sector representatives and other not-for-profits to advocate for needs based funding in schools.

Student ShoutOut: empowering young Australians to have a voice in their education, as primary stakeholders.

Worlds of Work (WOW): a national initiative that builds the skills and beliefs that young people need to make successful transitions into life beyond school. Over one intensive week, WOW takes Year 10 students on a journey that broadens their view on what it means to be successful in a changing job market. While schools offer a range of career development activities, including work experience, WOW’s uniqueness lies in its delivery: young people learning through experience and immersion, and with their peers.

Work Inspiration: an Australia-wide, employer-led campaign that transforms work experience into Work Inspiration. Work Inspiration teams up with business to help young people make informed and effective decisions about their future career paths and support their transitions to further education, training or work, inspiring in offices, boardrooms and workplaces across the country.

12

It’s no secret, our working landscape is changing. There’s a greater emphasis on study, young people are encouraged to explore their options and, as a result, full-time work is entered into at a later age.

FYA is changing the conversation on careers learning. We want to work collaboratively to help young people and workplaces navigate the school-to-work transition effectively. We want our young people to find meaningful, fulfilling work.

Our long-running initiative Worlds of Work (WOW) has proved itself to be a simple yet powerful model that brings young people and workplaces together to help young people learn in ways they like to learn: through experience and immersion, and with their peers.

Together with Samsung, FYA extended the reach of WOW through the development of a web-based app. The app, to be rolled out in 2014, will allow young people to engage with WOW material in an interactive game-like environment and curate information they gather about careers. This will allow participants to continue their career development experience after the WOW week. The app will also be made available to schools so they can independently create and deliver their own version of the program without direct FYA involvement.

FYA is also working with education sector

partners Social Ventures Australia and Beacon Foundation to examine how to integrate a program like WOW into the curriculum of schools for different year levels and bring WOW to a school near you.

Stay tuned next year for some exciting news!

Facts

In the past three years, WOW has:

� Provided 138 weeks of career education to 3,000 students from more than 80 schools across Australia

� Delivered 35 weeks to Indigenous and refugee young people

� Partnered with more than 50 Australian workplaces and engaged more than 4,000 workplace volunteers in conversations with young people about work, life and success

Transitioning from school to work

13

Changemakers

In our fast-paced, changing world, who better to turn to than young people – those on the cutting edge of technology and the inevitable driving force behind a successful, enterprising and innovating Australia.

Our aim: to create leaders in the community, equipping young Australians with innovative responses to the social, environmental and cultural issues they currently face.

Changemakers initiatives

Young Social Pioneers: an Australian-first initiative that uses peer-to-peer learning to build the next generation of social entrepreneurs aged 18–28 years.

National Indigenous Youth Leadership Academy (NIYLA): a national network inspiring young Indigenous Australians to lead community-focused and community-developed positive change.

IMPACT: developing the leadership skills of young Indigenous students in the Northern Territory, while supporting their academic and personal development.

Change It Up: sparking the changemaking potential of regional and rural young Australians to make their views known and to act on issues that are important to them and their communities.

14

While the rate of young Indigenous students making transitions into positive future pathways like employment, study or training is on the rise, there is still a way to go.

IMPACT is a three-year initiative in the Northern Territory that creates a community of young Indigenous students dedicated to leading change and pursuing future pathways into work, study and social action. The IMPACT program begins in Year 10 and supports students as they complete Year 12 and embark on their transition into work, study or volunteering, IMPACT develops young leaders with a stronger connection to community and cultural identity.

In 2013 Year 12 IMPACT student Chloe stood on the stage of the Sydney Opera House and in front of a crowd of 400 people, including acclaimed director Baz Lurhmann, admitted that she would not have completed high school if it were not for IMPACT.

Now a University of New South Wales student in social work and criminology, when FYA met Chloe she never imagined that she could achieve so much.

A long-term engagement

“I didn’t even think that university was an option for me, but now I am doing my pre university program where I love to learn… Last year I was ready to drop out of school, but with the support of IMPACT I have now completed Year 12,” said Chloe.

Chloe’s speech stole the show at the launch of ‘The Shoot’ a special screening night at the Sydney Opera House which was hosted by Baz and new FYA supporter Samsung, encouraging young Australian filmmakers to tell their stories.

Facts

� 100% of IMPACT students have graduated from school and have gone on to study, join the workforce or volunteer overseas.

� IMPACT is the only long-term, out-of-school Indigenous development program focusing on social action in Australia.

� IMPACT students maintain an average school attendance rate of 90% – more than 20% higher than the Northern Territory average.

15

Contributors

Volunteering is changing

Our young people engage globally on a daily basis; building strong connections with our neighbours in Asia and the Pacific regions must be a priority.

Our aim: to transform the worldview of young Australians through engaging in Asia and the Pacific.

Contributors initiatives

Young People Without Borders: a structured journey into volunteering and global citizenship, which embeds the notion of contribution and giving back. A popular aspect of the program is offering three to nine month volunteering placements in Australia and the Asia-Pacific region to recent school-leavers, called a ‘Start Year’.

High Resolves: FYA supports high school students to become effective citizens and leaders who are armed with the confidence and skills necessary to tackle the unique challenges of the 21st century.

Young people are seeking flexible, episodic volunteering related to an issue rather than a single organisation. They are also turning to volunteering to gain an edge in employment.

FYA’s Young People Without Borders offers all of these things…

Prue Gurnick set out to change the world. Joining FYA’s Young People Without Borders program, Prue set out on a cross-cultural journey to India that opened her eyes and changed her career path forever.

During the three-month placement, Prue taught drama, music and art for two months in a school in Darjeeling, before spending a month teaching intensive personal development and spoken English to upper high school students in Dumka. Through her time abroad, she discovered the indomitable spirit of the young people she encountered.

Although Prue set out expecting to ‘change the world’, she returned to Australia transformed by the inspiring will and determination of the young people she met – for the first time looking at education through the eyes of the young people she taught.

Prue returned to Australia with an increased appreciation of the opportunities that a quality education can offer and is now studying Social Sciences at Australian Catholic University and taking a Hindi course at the Centre for Adult Education.

Facts

� Latest research shows young Australians donate more than 16 million volunteer hours, worth $260 million, each month.

� Almost 70% of young people volunteered in 2013 and the large majority say volunteering changed their attitudes, outlook or life perspective.

16

New to FYA in 2013

Adappt

Adappt is a joint initiative of FYA and Samsung that empowers young Australians to channel their entrepreneurial spirits and creative talents into ‘apps for good’, Adappt is a joint initiative of FYA and Samsung that enables teams of young people to develop and pitch their concept for an app that addresses a real-world social or environmental challenge. Adappt is Australia’s first social purpose app development program specifically for young people.

Immerse

Immerse is a bespoke learning experience for emerging philanthropists and young corporate leaders who are already engaged in family philanthropy or corporate social responsibility. FYA provides a tailored real world development opportunity that helps grow their skills and fuel their aspirations through contributing to our work.

Our very first Immerse participant, Hunter, started with FYA in 2013. He has always had a strong interest in giving back to the community, having grown up in a family that has supported numerous philanthropic causes. After a six-month placement, Hunter loved it so much at FYA that he stayed and is now a staff member in our Partnerships team.

“My time in the Immerse program has been a monumental, real world educational experience and has provided an outstanding opportunity to become a leader in the field of youth philanthropy,” said Hunter.

17

Propeller

Propeller is a joint initiative of FYA and Samsung that provides support and micro-grants to young people who want to make a difference. FYA selects inspiring youth-led initiatives from across Australia that can be easily replicated, showcasing them online via video at www.propellerproject.com.au, and then encourages other young people to take up the challenge and re-create these ideas in their own communities.

Safe Schools Coalition Australia

Australian research shows that young people who identify as same sex attracted, intersex and gender diverse are one of the most at-risk groups of young people in relation to violence or abuse. In 2013 FYA received support from the Australian Government to establish Safe Schools Coalition Australia. In 2014 FYA will launch the program based on the successful Victorian model, which has already begun stamping out homophobia and transphobia in high schools.

Through the program, we will show how school communities across the country can work together to do what it takes to make a positive difference in the lives of young people and create the change we all want to see – safe and inclusive learning environments for all students, staff and families. Working closely with Safe Schools Coalition Victoria,

18

Unlimited Potential

Unlimited Potential is our proposal for a national commitment to young Australians and is founded in our relentless optimism and belief in the courage, imagination and will of all young people in Australia.

Unlimited Potential provides a strong platform for ongoing conversation with the governments of Australia on our thinking and recommendations for how governments, key institutions and communities can work alongside young people to prepare them for a rapidly changing world. As a result of these briefings it is our hope that young people can help shape the places where they live, learn in ways which help them to succeed and contribute to this nation and the world in ways we cannot yet imagine.

Unlimited Potential launched in Canberra this year and will continue its journey to other states in 2014.

Events

Unleashed

Giving young people the tools to create the change they want to see in Australia and beyond.

FYA hosted its inaugural national event for young people – designed to ignite social action and build and showcase Australia’s young changemakers.

Our two-day event was launched at the iconic Sydney Opera House, connecting young people who are making a difference on a local and national scale.

The exciting event featured the Unleashed PitchUp, an opportunity for some of Australia’s best young social entrepreneurs to showcase their work, and the Unleashed Awards, which recognise young people who are driving change in new and innovative ways.

19

Nexus Australian Youth Summit

A global movement of young people working to increase and improve philanthropy and social impact in the community.

In 2013 FYA hosted the inaugural Nexus Australian Youth Summit, which brings together philanthropists, investors, social entrepreneurs and allies under the age of 40 from across Australia.

Held in Sydney, Nexus offered participants opportunities to learn, interrogate and debate pertinent issues with their peers while exploring innovative approaches to creating change and opportunities to collaborate for greater impact.

The summit aimed to inspire new leadership, greater generosity and more strategic investing in social and environmental projects.

20

GOVERNANCE

21

Our Governance

FYA is a company limited by guarantee, incorporated under the Corporations Act 2001. Ultimate responsibility for the governance of the company rests with the Board of Directors. This governance statement outlines how the Board meets that responsibility.

Specific responsibilities of the Board

The Board has specific responsibility for the following areas:

� Developing FYA’s strategic direction in conjunction with management and ensuring it is consistent with the vision for the organisation

� Approving the annual operational plans and budget

� Appointment and remuneration of Chief Executive Officer and monitoring performance of the Chief Executive Officer

� Approving levels of delegations and authorities within FYA, including authorities to enter into legal agreements

� Building the profile of FYA and developing key relationships including supporting fundraising strategies

� Evaluating their own performance as a Board each year using appropriate evaluation mechanisms

� Approving the appointments of external auditors and fund managers recommended by the Audit and Risk Committee and Investment Committee respectively

� Reviewing and approving the strategy for managing the corpus recommended by

the Investment Committee � Approving FYA’s audited annual accounts � Appointing appropriate people to the Board, Committees and Chief Executive Officer positions

� Refining FYA’s governance structures and processes as required

� Annually reviewing, ratifying and reporting on systems of risk management and internal compliance and control, codes of conduct and legal compliance.

These responsibilities are set out in detail in FYA’s Board Terms of Reference which is available at: www.fya.org.au/about/board-and-governance

22

Management’s responsibility

The Board has formally delegated responsibility for FYA’s day-to-day operations to the Chief Executive Officer. FYA’s Senior Leadership Team comprises the Chief Executive Officer, Chief Operating Officer, Chief Financial Officer and the Directors of Research, Partnerships, Communications, Learners, Contributors and Changemakers.

The Senior Leadership Team has specific responsibility for the following areas:

� Preparation and implementation of a strategic plan and an annual business plan for approval by the Board

� Preparation of an annual budget for approval by the Board

� Preparation and implementation of a financial sustainability model for three years, five years and longer term projections for approval by the Board

� Preparation of media and stakeholder communications strategies

� Implementation of effective fundraising strategies to support expanded program outcomes

� Preparation of annual financial statements and annual report

� Report to the Board on delivery of outcomes agreed in the strategic plan

� Appointment of staff

Board oversight

The Board oversees and monitors management’s performance by:

� Receiving detailed reports on progress of operations at each Board meeting

� Receiving detailed financial reports on a monthly basis

� Establishing a Finance Committee to meet with the Chief Executive Officer, Chief Operating Officer and Chief Financial Officer monthly to monitor financial performance and key compliance risks

� Assigning responsibility to the audit and Risk, Investment and Appointments and Nominations Committees, as set out in their terms of reference documents. These Committees are made up of members with relevant expertise.

23

Board members

All Board members are non-executive Directors and receive no remuneration for their services. They may be reimbursed for reasonable costs and expenses incurred in connection with Board activities.

FYA’s constitution provides an indemnity to Directors. Appropriate Director’s indemnity insurance has been put in place.

The company’s constitution specifies:

� There must be no less than seven and no more than 21 Directors

� Directors are appointed for a term of two years and the maximum term of office is stated in the Board Terms of Reference as being six years

� That a Chair and Honorary Treasurer will be elected from among the Directors.

The Appointment and Nominations Committee oversees the appointment and induction process for Board and Committee members. Recommendations for appointment are made to ensure the Board has the right mix of skills, experience and expertise. The company’s members elect Board members.

The Appointment and Nominations Committee is also responsible for ensuring the right mix of Board skills, experience and expertise are continuously available to FYA through appropriate succession planning.

Board and Committee members receive written advice of the terms and conditions of their appointment and complete a structured induction program when first appointed. Board and Committee members’ knowledge of the business is maintained by regular visits to FYA’s office, invitations to FYA events, management presentations and access to continuing education programs as necessary.

The performance of the Board and Committees and individual members of each is assessed annually.

24

Board of Directors

Robert Milliner – Chair

Peter Williams – Honorary Treasurer

Marita Cheng

Tim Kenworthy

Kathe Kirby

Ellen Koshland

Danita Lowes

Anthony Mackay

Dr. Jenny Proimos

Ruchir Punjabi

Audit and Risk Committee

David Colliver – Chair

Danita Lowes

Robert Milliner

Ruchir Punjabi

Peter Williams

Investment Committee

Peter Williams – Chair

Jon Buckeridge

Geoff Cohen

Andrew Goddard

Ken Liow

Peter Meurer

Robert Milliner

Appointments and Nominations Committee

Robert Milliner

Kathe Kirby

Danita Lowes

Jenny Proimos

Jan Owen AM (Chief Executive Officer) and Alecia Rathbone (Company Secretary) attend Board and Committee meetings as non-voting members.

FYA’s Committees

25

26

The Chair

The Chair of the Board is a Director elected by the Board to hold this position. The duties of the Chair include:

� Taking a leading role in achieving FYA’s vision and mission

� Managing Board meetings to ensure that they function effectively, interact with management optimally and fulfil all their duties

� Annually ensure that the Board reviews governance that relates to its own structure, role and relationship to management

�With the CEO, act as FYA spokesperson to the media, government and other organisations.

Risk management

The Board oversees the establishment, implementation and annual review of FYA’s risk management system, which is designed to protect the organisation’s reputation and mitigate and manage those risks that might preclude it from achieving its goals.

Management is responsible for establishing and implementing the risk management system, which assesses and monitors risks including operational, financial and compliance risks.

The Audit and Risk Committee is responsible for monitoring the effectiveness of the risk management system between annual reviews.

Auspice policy

During 2013, the Board established an auspice policy to support FYA in fulfilling its purpose of assisting young Australians to reach their full potential. FYA works with many youth-led or youth-focused organisations whose work is aligned to FYA’s. In such cases, FYA may support these organisations by accepting donations or grants, or by providing expertise. The auspice policy sets out how auspice arrangements can be entered into and managed.

27

Independent advice

The Board and Board Committees have access to advice on legal, investment and taxation matters. In particular, the Board has engaged Mercer Investments to advise and manage the investment portfolio. The Board has approved risk and return parameters for the portfolio. Mercer Investments presents a report to the Investment Committee outlining its performance each quarter.

Ethical standards and Code of Conduct

Board members, and the whole FYA team, are expected to comply with laws, and the codes of conduct of relevant professional bodies, and to act with integrity, compassion, fairness and honesty at all times when dealing with colleagues, young people and our partners.

Board, Committee members and the whole team are made aware of FYA’s values, code of conduct and conflicts of interest policy during their induction to the organisation and are provided with a copy of these documents at that time.

Board review

The Board invites an external consultant to conduct a Board review from time to time. The purpose of the review is to identify issues relating to the skills, behaviour, relationships or practices that may be inhibiting the Board from being fully effective. The Board believes that constructive feedback from an external expert helps the Board address the nature of the services and environment within which FYA operates.

Patrons

There are four patrons of FYA:

Mr Brian Burdekin AO

Mr Bill Conn

Mr Brad Lancken

Mr John Ralph AC

Members

All current Directors, as well as some past Directors of FYA and its predecessor organisations, are members and have the right to vote on matters at the Annual General Meeting.

28

Our finances

Sources of Income

Areas of Expenditure

Corporate Sector

Investments

Government

Trusts & Foundations

Program Fees

Donations

Consulting Fees

Personnel

Programs

Other

Scholarships & Grants

Research

Investments

Depreciation

This financial report is an extract from the audited financial statements for FYA for the year ended 31 December 2013. The full audited financial statements and directors’ report are available at www.fya.org.au

3%

4%

1%

2%

2%

3%

57%

24%

7%6%

32%

26%

25%

8%

29

The Foundation for Young Australians statement of financial position As at 31 December 2013

In Australian Dollars 2013 2012

Assets

Cash and cash equivalents 1,544,832 183,894

Trade and other receivables 1,319,287 1,111,726

Term deposits 108,534 108,534

Other financial assets 1,500,000 1,000,000

Other assets 102,829 21,358

Total current assets 4,575,482 2,425,512

Other financial assets 49,534,660 44,695,422

Property, plant and equipment 2,654,027 2,711,074

Total non-current assets 52,188,687 47,406,496

Total assets 56,764,169 49,832,008

Liabilities

Trade and other payables 667,330 355,496

Deferred income 3,172,621 1,353,997

Provisions 243,284 196,167

Total current liabilities 4,083,235 1,905,660

Deferred income 115,323 658,633

Provisions 36,083 18,447

Total non-current liabilities 151,406 677,080

Total liabilities 4,234,641 2,582,740

Net assets 52,529,528 47,249,268

Accumulated funds

Retained earnings 52,529,528 47,249,268

Total accumulated funds 52,529,528 47,249,268

30

The Foundation for Young Australians statement of profit or loss and other comprehensive income For the year ended 31 December 2013

In Australian Dollars 2013 2012

Revenue

External income from operations 4,932,397 1,999,713

Total Revenue 4,932,397 1,999,713

Expenditure

Personnel expenses (4,806,185) (3,678,551)

Depreciation expenses (117,591) (101,564)

Scholarships and grants paid (505,471) (934,419)

Program expenses (excluding personnel expenses)

(1,984,139) (1,143,497)

Research expenses (excluding personnel expenses)

(239,124) (200,073)

Other expenses (588,712) (344,893)

Total expenditure (8,241,222) (6,402,997)

Results from operations (3,308,825) (4,403,284)

Finance income 8,763,855 6,801,855

Finance costs (174,770) (235,472)

Net finance income / (expenses) 8,589,085 6,566,383

Surplus / (Deficit) before income tax 5,280,260 2,163,099

Income tax expense - -

Surplus / (Deficit) for the year 5,280,260 2,163,099

Other comprehensive income - -

Other comprehensive income for the year - -

Total comprehensive income for the year 5,280,260 2,163,099

31

The Foundation for Young Australians statement of changes in equity For the year ended 31 December 2013

In Australian DollarsAccumulated funds Total funds

Balance at 1 January 2012

Total comprehensive income for the period 45,086,169 45,086,169

Surplus for the period 2,163,099 2,163,099

Total other comprehensive income - -

Total comprehensive income for the period 2,163,099 2,163,099

Transactions with owners, recorded directly in equity - -

Total transactions with owners of the Company - -

Balance at 31 December 2012 47,249,268 47,249,268

Balance at 1 January 2013

Total comprehensive income for the period 47,249,268 47,249,268

Surplus for the period 5,280,260 5,280,260

Total other comprehensive income - -

Total comprehensive income for the period 52,529,528 52,529,528

Transactions with owners, recorded directly in equity - -

Total transactions with owners of the Company - -

Balance at 31 December 2013 52,529,528 52,529,528

32

The Foundation for Young Australians statement of cash flows For the year ended 31 December 2013

In Australian Dollars 2013 2012

Cash flows from operating activities

Cash receipts in the course of operations

6,223,309 2,292,814

Cash payments for scholarships & grants

(505,471) (934,419)

Cash payments in the course of operations including to employees

(7,370,786) (5,451,936)

Net cash (used in) operating activities

(1,652,948) (4,093,541)

Cash flows from investing activities

Interest received 38,878 44,918

Unit trust distributions received 1,033,119 1,562,752

Imputation credits received 516,569 -

Net proceeds from drawdown of investments

1,500,000 1,150,000

Acquisition of property, plant and equipment

(74,680) (39,889)

Net cash from investing activities 3,013,886 2,717,781

Net cash flows from financing activities

- -

Net (decrease)/increase in cash and cash equivalents

1,360,938 (1,375,760)

Cash and cash equivalents at 1 January

183,894 1,559,654

Cash and cash equivalents at 31 December

1,544,832 183,894

33

Major supporters

Alcoa Foundation

Australian Government Department of Education

Lotterywest

Mastercard Worldwide

NAB

Northern Territory Government, The Department of Education

Australian Government, Department of Prime Minister and Cabinet

Samsung Electronics Australia

Sidney Myer Fund & The Myer Foundation

The Perpetual Foundation

The Shell Company of Australia Limited

The Victorian Government

Trust Company Ltd

UBS AG

In kind support

Shelmendine

The Consulate of the Republic of Malawi

The US Consulate

Think HQ

Thank you to our supporters

Supporters

Accenture

ACT Government

Ajilon Australia

Alfasi Steel Construction

Allens Linklaters

Austraining International

Budget Rent a Car

Clayton Utz

Cooper Foundation

Good Super

IAG

IBM Australia

Impact Investment Group

JBWere

K&L Gates

Lander & Rogers Lawyers

Lord Mayor’s Charitable Foundation

Ms Jan Owen AM and Mr David James

PIMCO

QBE Australia

Mrs Barbara and Mr John Ralph AC

Small Giants

Sydney Opera House

The Ian Potter Foundation

The R E ROSS TRUST

ThoughtWorks Australia Pty Ltd

Untitled LTD

Dr Catriona Wallace

Westpac

All our work, everything we do wouldn’t be possible without you – our partners and friends. Thank you.

34

fya.org.au

info@fya.org.au

@fya_org

facebook.com/likeFYA

@fya_org

Contact details

03 9670 5436

21-27 Somerset Place Melbourne Victoria 3000

GPO Box 239 Melbourne Victoria 3001