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Scotch College Philanthropy Impact Report 2017

Contents Why Teach

Contents Why Teach Philanthropy at Scotch and How? 3 A Record Year of Participation! 4 The Impact of a Scholarship 6 What a Difference a Grant Makes 7 Care & Compassion 8 The Gratton Society 10 The Scotch College Foundation 11 Your Donation at Work 14 2017 Honour Roll 15 Your Leadership Teams 19 2

Why Teach Philanthropy at Scotch — and How? Reading, writing, ‘rithmetic... and philanthropy? Granted, philanthropy is not the first topic that comes to mind when thinking about standard offerings at independent schools. But increasingly, students studying humanities, social or hard sciences, or business can learn about philanthropy, and it’s easy to see why. Philanthropy Australia estimates that 14.9 million Australian adults (80.8% of the population) gave $12.5 billion to charities and not-for-profits organisations in 2015-16. Australians contribute their time, talent, and especially, treasure in philanthropic ways. The term philanthropy, the Greek for “love of humanity,” captures the virtuous thrust of giving and giving well. But for some, the ‘love for humanity’ just does not cut it. They question why a well-resourced school like Scotch needs philanthropy. The answer is fourfold: our ambitions, needs, wants and impact. We are an ambitious school determined to make an impact. Like every great educational institution, these aspirations are achieved through philanthropic partnership. Last year Eton College (UK) raised GBP5.2m, while Phillips Exeter Academy in the US raised US$6.67M. Scotch Melbourne Foundation has assets of $49.6M and has secured an additional $10.3M for its Building Fund. Like these other schools, we are uniquely positioned and deeply committed to making transformational impact through our students. Our school also has needs. Our annual income is around $25 million. 20% roughly comes from state or federal government. The rest comes from fee income. We demonstrate robust financial health and generate a surplus each year. However, once we cover our running costs (salaries being the major part), and service our debts, we are left with enough to refurbish a set of classrooms, renew furniture, deal with small, but high priority infrastructure demands and make progress with some very unsexy yet essential fundamentals like bore water systems. Our Investment Committee oversees our longterm reserves. However, these funds are mainly committed to scholarships and we never spend the capital. We don’t own large amounts of property in the CBD that provides regular income nor have any undiscovered Assyrian mosaics sitting on the back wall of the canteen worth 8 figures (trust me, we have looked)! We equally do not intend to sell precious land and lose for ever the family silver. So, if we are to radically change our infrastructure, if we are to build the next McBean Centre, Rosevear House or Webb Science Centre, to support our future needs, we need to raise funds – big funds – through philanthropy. In other words, we need your support. And as this report shows over the next few pages, we are getting it… Last year a new benchmark was set at Scotch in both amounts given and participation. Nearly 800 members of our community either gave to Scotch or gave through Scotch to other charitable organisations. We are tremendously grateful for these gifts and determined to make sure that they are used to enhance and grow our programs. Lastly, because we are also a school and because philanthropy can be learned, we want our students to learn it. Research by the University of Maryland highlights how seeing one’s parents give can influence later giving and altruistic behaviours in children. Witnessing an influential adult engage in philanthropy is most effective in passing along the importance of helping others. This teachable moment is intensified when coupled with discussion about the importance of such actions. If giving is teachable, then the school years represent a tremendous opportunity to instil such behaviours in the next generation. Think of the impact we could make, if we were all more savvy about philanthropy. As taxpayers are increasingly less willing to fund public giving, everyone in the non-profit world has to get out and make the case for why we are deserving of funds. The rise in social media fuels a need for us to be vivid, authentic tellers of our own story. The key to successful philanthropy is understanding and telling the story of what the problem is, why the giver is the best person to respond to the problem, and why the recipient is the best candidate for solving the problem. I want to thank each one of you, for partnering with us to enable an exceptional Scotch education. I believe that today’s students, taught the principles of giving and serving humanity, and even given a chance to take those principles out for a spin thanks to the generosity you have demonstrated, will find new ways to improve our nation, surprise us, and make us proud. Dr John Newton Principal 3