Macquarie Group offers $A50m award for bold ideas to address social need

Financial specialist The Macquarie Group is marking its 50th anniversary by offering a $A50 million award "to initiate or build on bold ideas to address social need". The Macquarie 50th Anniversary Award, worth around £27 million), will be shared equally by five nonprofit organisations over a five-year period. The funding will support projects globally that will have a lasting community benefit.  Macquarie Group Chief Executive Officer Nicholas Moore explained: “Supporting the communities in which we live and work has been an important part of Macquarie’s activities since our inception in 1969”. SEE ALSO : £10,000 research trip offered to one charity CEO (13 July 2016) He added that since then its staff have around the world have contributed over $A330 million (£181 million) "to drive social change at the local community level".   Which charities are eligible? To be eligible for the Award, applicants must be a registered non-profit within the applicable country, must have a current annual revenue of minimum $A4 million (£2.2 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 beyond the funding period. The winners will be selected by the Macquarie Group Foundation who will also manage the programme. Founded in 1985, the Foundation works to maximise social impact by focusing grant making on particular community areas within each of the regions in which Macquarie operates. Applications to The Macquarie 50th Anniversary Award are now being accepted and close on 16 November 2018.  Finalists and winners will be announced from May 2019. Macquarie Group Chief Executive Officer designate and Macquarie Group Foundation Chair Shemara Wikramanayake said: “We encourage non-profits across all issue areas to be imaginative in their thinking about the enduring outcomes they can achieve with this funding.”   https://twitter.com/Macquarie/status/1041465530014724096        

from UK Fundraising https://ift.tt/2pcYldt