Update from the Foundation Chair

As we come to the end of another year, I would like to reflect on what the Foundation, together with Pinnacle, its affiliated fund managers (Affiliates) and our not for profit (NFP) partners have collectively been able to achieve over the past year.

In 2023, the Foundation made donations totalling $715,000, with $655,000 being directed towards existing partners plus three new NFPs – selected together with Five V Capital. We are very proud to begin our partnership journey with the Indigenous Literacy Foundation, RizeUp Australia and SANE, and I invite you to read more about these new partnerships here.

Total Affiliate donations to NFP partners during 2023 contributed an additional $445,000.  Our sincere thanks to them for these funds, and also their commitment to giving time, fundraising support and advice to their respective partners.

As we head into 2024, the Foundation is now proud to support 17 NFPs.  We continue to be very appreciative of the work each of them undertakes in the areas in which they operate . Please check the website to see the powerful impact of the projects, programs and services undertaken by these inspiring organisations, which are working across Australia with a focus on the following six core themes:The Foundation Board met periodically during 2023. In November, we also conducted a very constructive Strategy Session, something the board does every three years. The opportunities for the Foundation to grow and evolve together with Pinnacle and Affiliates are exciting, and I look forward to sharing them with you in due course.

The first change will take place early in the new year, with the Foundation undertaking a process of rebranding. Both the Foundation and Pinnacle boards have agreed that the name of the Foundation will change – from the Pinnacle Charitable Foundation to the PNI Foundation. This new name reflects the Pinnacle Group’s ASX ticker (ASX: PNI) and will alleviate ongoing confusion with the completely unaligned Pinnacle Foundation.

On behalf of the Foundation’s directors, I wish everyone a happy and safe festive season.

Jonathan Trollip

Chair, Pinnacle Charitable Foundation