Macquarie Group today announced the Macquarie 50th Anniversary Award, a $A50 million ($US36 million1) philanthropic commitment, to initiate or build on bold ideas to address social need.
It is expected to be awarded to five non--profit organizations ($A10 million each) over a five-year period to fund projects globally that will have a lasting community benefit. The winners will be selected by the Macquarie Group Foundation who will also manage the program.
“Supporting the communities in which we live and work has been an important part of Macquarie’s activities since our inception in 1969,” said Macquarie Group Chief Executive Officer Nicholas Moore. “In that time, our people have devoted thousands of hours to work with non-profit organizations around the world and contributed over $A330 million to drive social change at the local community level. We are delighted to mark our 50th anniversary by extending this tradition with a further $A50 million commitment to initiate or build on bold ideas which address areas of social need.”
Macquarie Group Chief Executive Officer designate and Macquarie Group Foundation Chair Shemara Wikramanayake said, “The Macquarie Group Foundation’s activities have always been driven by our people whose involvement in their communities is an important part of the work we have done over the last five decades. We encourage non-profits to be imaginative in their thinking about the enduring outcomes they can achieve with this funding.”
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 $US2.75 million, and have audited financial statements and a board of directors...