Through a partnership with the State Government and the Ballarat Community, a perpetual capital fund was created to provide support for two areas of disadvantage in Ballarat, Wendouree and Delacombe.
This Sub Fund successfully achieved a capital base which is held in perpetuity and which, through investment, provides an annual income. This income, in-turn, provides for annual grants in support of projects and programs for Wendouree and Delacombe that build and strengthen these communities.
A benefit of this Sub Fund is that specific projects and programs can be considered and recommended by an assessment panel of community representatives, and is flexible to be able to meet changing and specific needs as they occur over time. Another advantage is that funds don’t need to be raised each year as, once established, programs are funded from earnings.