Our Finances

Together we're making a difference

In the last year our work reached more than 127,424 disadvantaged children and their families in 94 communities across Australia, thanks to the support of caring Australians.

Over the five years to June 2016, an average of 82 cents in every dollar of funds raised from individual supporters, corporate partners, universities, trusts and foundations, bequests and through the support received from VIEW Clubs of Australia and governments was spent on our community programs. The surplus from our Recycling Operation and from other commercial activities ($1.4 million in 2015-16) helps to offset our infrastructure costs, ensuring that funds raised can be spent as much as possible on programs supporting children and young people in need.

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Financial snapshot for the year 2015-2016

The Smith Family watermark

Financial snapshot for the year 2015-2016

The figures below are in $'000s and relate to the year ended 30 June 2016:

Sources of income

Source

$’000s

Fundraising and bequests

63,500 

Government funding

19,400

VIEW Club contributions

1,200 

Recycling Operation surplus

1,400

Other income

2,200

Total Income

87,700

 

How revenue is allocated

Area of allocation

$’000s

Community programs

(61,400)

Fundraising

(17,800)

Promotion and Profiling

(2,300)

Administration

(1,900)

Total Expenditure

(83,400)

 

Surplus/(Deficit)

Deficit for the year ended 30 June 2016 ($'000s) 1,500  

How are we governed?

The Smith Family is a registered charity. We are governed by a Constitution and embed governance structure that enables us to achieve our mission in a way that is consistent with our vision, values and strategy, creating opportunities for young Australians in need by providing long-term support for their participation in education.

The Smith Family constitution

The Smith Family's charitable status

The Smith Family’s status as a Public Benevolent Institution (PBI) was confirmed in July 2005 by the Australian Taxation Office as part of its registration requirements for all non-profit entities, as was the organisation’s status as an Income Tax Exempt Charity and a Deductible Gift Recipient. The organisation enjoys certain other tax concessions and exemptions consistent with its status as a PBA which relate to Goods & Services and Fringe Benefit Taxes.

The Smith Family is registered as required by law in each State and Territory where it raises funds as follows:

Australian Capital Territory

Registration number L19000133 – renewable in 2020

New South Wales

Registration number CFN 11049 – renewable in 2019

Queensland

Registration number CP 4163 – registration is ongoing subject to meeting certain annual financial reporting requirements

South Australia

Registration number 778 – renewable annually in January

Tasmania

Registration number 170 – registration is ongoing

Victoria

Registration number 10290 – renewable in 2018

Western Australia

Registration number 20352 – renewable annually

Smith Family is a company limited by guarantee (ABN 28 000 030 179). The Smith Family’s auditor is Ernst & Young. Legal services are provided by King & Wood Mallesons and banking by Westpac Banking Corporation.