Tracing its history back to Pinnacle’s antecedent companies in 1987 – including Wilson HTM, Wilson & Co and the Wilson family – today’s PNI Foundation is closely aligned with the strategic business objectives of the Pinnacle Group (ASX: PNI).
Rebranded at the start of 2024 from Pinnacle Charitable Foundation, and now reflecting Pinnacle’s ASX ticker, the PNI Foundation is supported by the Group to achieve its vision of “helping to build a more compassionate, creative and clever Australia”.
The PNI Foundation operates as an independent public ancillary fund (PuAF), registered with the ACNC (Australian Charities and Not-for-profits Commission) with DGR Type 2 status.
In every partnership the Foundation’s aim is to facilitate the delivery of solutions which can be analysed and assessed, strengthened and scaled.
As an early stage backer which frequently offers seed funding to encourage trials and incubate new projects, the Foundation has often been able to invest in the future of young, passionate NFP entities as they seek to have a growing impact within their communities. Many partners have leveraged this initial support, securing further funding from private and public donors to successfully build their long term capacity to drive change.
The Foundation provides annual funding of between $20,000 and $100,000 for specific projects and programs, which are approved via a formal application process. Partnerships are by invitation only, with no open grant rounds or public submissions.
The goal is to build multi-year engagements which foster strong and close relationships, and support the ability of selected NFP partners to address often complex social issues. These reflect UN SDGs (Sustainable Development Goals) identified and adopted as priorities by the Foundation.
In FY24, the Foundation made donations of $594,000 to our 17 long-term NFP partners.
Affiliates provided $445,000 via direct support to a number of jointly funded charity partners.
A further $269,000 was donated by the Foundation, Affiliates and Pinnacle to other NFPs with strong connections to employees, and to events championed by the financial services industry and Pinnacle.
Matched workplace giving programs across the Group contributed a further $79,000, contributing to more than 60 NFPs.
The combined financial impact of donations was therefore $1,380,000.
With the financial backing of Pinnacle and access to extensive pro bono services across investment management, portfolio reporting, finance, marketing and IT, the Foundation operates with low overheads and high impact.
The Foundation Board is particularly grateful to Ian Macoun for his personal pro bono commitment to skillfully managing the Foundation’s investment portfolio, which is governed by a formal investment strategy. This strategy aims to provide reasonable capital protection in volatile markets whilst seeking to drive growth over the longer term.
Investments are held in a range of suitable products offered across Affiliates, which include funds offering franking credits, monthly income streams, global exposure and a range of non-equity exposed assets. As part of their broad commitment to the Foundation, all Affiliates donate the equivalent of management fee rebates back to the Foundation through cash or additional units in investments.