The Directors present their report together with the consolidated financial report of the
Australian Sports Foundation Limited (the Sports Foundation) and controlled entities (the
“consolidated entities” or “Group”) for the year ended 30 June 2019 and the auditors’ report
thereon. The names and details of Directors who held office during the year and up to the date of this report is set out below.

Name: Mr Mark Stockwell, OLY, DUniv (Chair)

Experience and special responsibilities: Mr Stockwell is an Olympian and a businessman, being the owner of Stockwell, a development, construction, property management and funds management group. Mr Stockwell commenced his career as an elite swimmer representing Australia in the 1984 Los Angeles Olympics and 1986 Edinburgh Commonwealth Games. After his retirement from swimming, Mr Stockwell joined the family business, and as Managing Director of Stockwell has seen the company diversify as an investor, developer, builder, project manager, property manager and funds manager of industrial, retail, commercial, residential, retirement and leisure developments. Mr Stockwell has maintained his participation in sport over the years and in 2011 chaired the successful bid by the Gold Coast to host the 2018 Commonwealth Games. He was also Mayor of the Athletes Village during the Games. Mr Stockwell is a past President of the Property Council of Australia, Queensland Division and served on the National Board, and was the inaugural Chair of Trade & Investment Queensland. Mr Stockwell is a Trustee of the Stockwell Foundation, founded with his wife Tracy to benefit children in need. In 2018, Mark was appointed an Honorary Doctorate of Griffith University. Mr Stockwell was appointed to the Board as Chair and Director of the Sports Foundation on 1 July 2014.

Name: Mr Josh Liberman, LLB, BComm

Experience and special responsibilities: Mr Liberman is Chair of the Josh Liberman Group (JLG) one of Australia’s largest private investments groups, with interest in industries such as property, banking and finance and early stage venture capital. Mr Liberman has over the past decade, been active in funding and investing in numerous fund strategies in areas such as private equity and takeovers, aviation aircraft ownership, hedge fund management and equipment finance and leasing. JLG is currently also a partner in CVS Lane Capital Partners, focusing on structuring and advice in the property industry in Australia. Early stage investments have focused on internet companies which have had a potential for a global business and included companies such as Seek, Looksmart (for which he won the Venture prize in Australia) and Hitwise. JLG has been a large donor to a multitude of Australian and Global charities over the years. Mr Liberman holds a Bachelor of Law and Commerce from Monash University, and was appointed to the Board as Director of the Sports Foundation on 28 January 2015.

Name: Ms Samantha Pearce, BCI

Experience and special responsibilities: Ms Pearce epitomises a new breed of digital leaders and innovators. For over 12 years she has guided, transformed and cajoled businesses towards effective marketing and behaviour change strategies that bridge the digital divide. Rising through the ranks of one of Australia’s leading digital agencies and working with accounts locally, nationally and globally, she has helped countless organisations grapple with the disruption of digital technologies and simultaneously built the capabilities and reputation of the agency she represents. As Marketing Director and lead digital strategist of Liquid Interactive she leads a world-class team at one of Australia’s most successful independent digital creative groups, the Liquid Group of companies. Her industry achievements and recent accolades include Australian and International awards for digital strategy, purchase behaviour and mobile experience design.

In 2015 she received recognition from Google for her remarkable work as lead strategist for the Isuzu UTE Australia digital strategy. Samantha understands business; steeped in a family history of success and with with the ability to combine new and traditional paradigms of thinking and acting, she brings a wealth of experience to the Sports Foundation Board. Ms Pearce was appointed to the Board as Director of the Sports Foundation on 13 December 2016.

Name: Ms Kim Brennan, AM, OLY, GAICD

Experience and special responsibilities: Ms Brennan is a qualified legal practitioner working in Advisory with Ernst and Young, and specialises in ethical organisations and culture change in a world being disrupted by technology. Ms Brennan also sits on the Australian Institute of Sport Ethics Committee, the Tokyo 2020 Olympics High Performance Committee, the Australian Institute of Sport Gold Medal Ready Advisory Board and is Deputy Chair of the Australian Olympic Committee Athletes’ Commission and Rowing Australia Athletes’ Commission. She has been appointed as a Deputy Chef de Mission for the 2020 Tokyo Olympic Games. She is an Olympic gold, silver and bronze medallist in rowing, and World Youth silver medallist in track and field. Ms Brennan has been awarded a Member of the Order of Australia for her contribution to sport and the community and named in the Australian Financial Review’s Top 100 Women of Influence in 2018. She is a graduate of the Australian Institute of Company Directors Course. Ms Brennan was appointed to the Board as Director of the Sports Foundation on 23 October 2018.

Name: Mr Andrew Baildon OLY

Experience and special responsibilities: Mr Baildon is founder and Managing Director of Baildon Group (encompassing Superfish Swim Schools, Goldfish Cafes and Jetts Fitness centres). He is a dual Olympian, and 5-time Commonwealth Games Gold Medallist, ranked in the top twenty swimmers in the world for over a decade. Mr Baildon is a respected swim industry expert, television and event presenter, MC, keynote speaker and international consultant. He is also an Australian Swimming board member and former ASCTA board member. Mr Baildon was the Australian Team Captain in 1993 and 1994, and was awarded the Australian Sports Medal for his service to sport. He was instrumental in the successful Commonwealth Games Bid in St Kitts & Nevis, bringing the 2018 Commonwealth Games to the Gold Coast and went on to be a member of the Sport & Technical Committee, Chairman of the Athletes Advisory Board and Member of the Queensland State Government's Legacy Committee. Mr Baildon was appointed to the Board as Director of the Sports Foundation on 23 October 2018.

Name: Ms Gail Miller OAM, OLY

Experience and special responsibilities: Ms Miller is an Olympic Gold Medallist and National Director of R&W Alliance Estate Agents. She commenced her career as an elite water polo player where she was a member of the Australian Open Women’s Water Polo team and the Australian Junior Women’s Water polo team simultaneously. She was named in the World All Star Junior team in 1995, the same year she debuted in the Australian open team. Ms Miller was a member of the Australian team that won Gold at the Sydney 2000 Olympics, and has been awarded an Order of Australia Medal. Ms Miller’s credentials don’t stop at her sporting excellence; she holds a degree in Property Economics and has worked in the property industry for 18 years, firstly as a property analyst and now as National Director of R&W Alliance Estate Agents. Her role as a National Director involves managing a team across multiple projects along the east coast of Australia as well as a specialist sales team in residential South-East Queensland. She is also a board member of the Queensland Olympic Council and a member of the Olympic Fundraising Committee. Ms Miller was appointed to the Board as Director of the Sports Foundation on 23 October 2018.

Name: Ms Sally Carbon OAM, FAICD, BA ED

Experience and special responsibilities: Ms Carbon is a Medal of the Order of Australia, a Member of the Order of St John and a Fellow of the Australian Institute of Company Directors. She is a non-executive director and a business strategist. She is the Managing Director of Green Eleven, an advisory and consulting company in Western Australia with clients from all sectors such as urban renewal, retail, resources, transport, agriculture, health, education and finance. Ms Carbon sits on the UWA Sport Advisory Council and West Australia’s film board – Screenwest, is a member of the Boards of St John and Apollo Health, and Chairs the private company Honan Insurance Group WA. She was previously the Director of Marketing and Communications at the urban renewal project at Docklands Authority in Melbourne. Ms Carbon is a dual Olympian and has won an Olympic and World Cup gold medal, representing Australia in Hockey for ten years. She has had seven books published. Ms Carbon was appointed to the Board as Director of the Sports Foundation on 7 May 2008 and concluded her tenure as Board member on 31 December 2018. She was the Chair of the Sports Foundation Finance, Audit and Risk Committee until 30 June 2019.

Name: Mr Timothy Sheridan, BA (C&J)

Experience and special responsibilities: Mr Sheridan is a distinguished sports journalist, and well known within the Australian sports community. After completing a Bachelor of Arts degree in journalism at Charles Sturt University, Mr Sheridan joined Australian Consolidated Press (ACP) in 1981. He was a reporter, feature writer and sub-editor for ACP sporting publications which included Rugby League Week, Australian Cricket Magazine and Australian Golf. During this time Mr Sheridan played rugby union for Sydney club Manly and toured New Zealand with the New South Wales Waratahs in 1982. After three years with ACP, Mr Sheridan continued to thrive in his career of sports journalism and worked for 35 years with both Channel Nine and Fox Sports. Mr Sheridan has covered 17 Wimbledon Championships and in 2015 celebrated the 20-year anniversary of his first trip to the US Masters by being at Augusta for Jordan Spieth’s historic win; he has spanned the globe revealing the stories and characters that have shaped Australian sport. In 2016, Mr Sheridan received the Australian Sports Commission’s award for the Best Documentary Depicting the Value of Sport in Community. This was for the documentary “From Little Things”, which shows how the Clontarf Foundation uses sport to keep indigenous boys in school. Outside of his own work, Mr Sheridan has written and taught a Sports Journalism course at The University of Sydney, mentors young journalists and is deeply involved in sport on a day to day basis. Mr Sheridan served on the Board of Mosman Rowing Club for six years, one of Australia most successful nurseries for elite talent. Mr Sheridan was appointed to the Board as Director of the Sports Foundation on 1 September 2015 and concluded his tenure as Board member on 31 December 2018.

DIRECTORS’ MEETING
Six (6) Directors’ meetings and four (4) Finance, Audit and Risk Committee meetings were held during the financial year. The number of meetings attended by each Director during the financial year is:

PRINCIPAL ACTIVITIES
The principal activity of the Sports Foundation during the financial year was to raise money for
the development of sport in Australia. It does so through a variety of means – including receiving
philanthropic donations from private individuals, businesses, trusts and foundations, running
fundraising events, and through partnership and sponsorship arrangements. The Sports Foundation
raises funds for the benefit of grassroots sports clubs, schools and community organisations, as
well as elite – including State and National – Sporting Organisations. It also runs an Athlete
Fundraising program, enabling the community to provide financial support to aspiring and
representative athletes.

PERFORMANCE MEASURES
The key objectives of the Sports Foundation are to enable a thriving sporting nation by:
  driving a substantial growth in the amount of philanthropic contributions to sport;
  expanding the number of grassroots clubs, schools and athletes that it supports; and
  raising funds to promote Australian Government policy of getting more Australians, more
active, more often. In particular, the Sports Foundation focuses on funding programs that help
disadvantaged Australians enjoy the health, social and community benefits of being more active
through sport via its Giving4Grassroots and Sport4Everyone programs.

The Sports Foundation also recognises its responsibilities as the peak body for philanthropy in
sport. These include building awareness among the philanthropic and sporting communities of the health, social and community benefits of sport, and encouraging broader philanthropic support for sport from individuals and businesses.

Key performance indicators include the number of organisations and athletes that partner with the
Sports Foundation to raise funds and the amount of money raised. In addition, funds raised and
distributed through its Giving4Grassroots and Sport4Everyone Programs, and the impact of those
programs, are monitored to assess the effectiveness of these initiatives.

ORGANISATIONAL STRUCTURE
The Australian Sports Foundation is a public company limited by guarantee in accordance with the Corporations Act 2001 and is a wholly-owned Commonwealth Company under the Public Governance Performance and Accountability Act 2013. The purpose of the company is to raise money for the development of sport in Australia. The Sports Foundation is the sole shareholder and member of ASF Community Sports Fund Pty Ltd which was incorporated on 20 June 2017.

The purpose of the ASF Community Sports Fund is to act as Trustee for the Australian Sports Foundation Charitable Fund which was established on 4 July 2017. As at 30 June 2019 ASF Community Sports Fund Pty Ltd has no assets or liabilities. The ASF Charitable Fund commenced operations on 1 July 2018.

The Australian Sports Foundation employs 15 staff (13.5 full time equivalents). As at 30 June 2019
neither ASF Community Sports Fund Pty Ltd nor ASF Charitable Fund has any employees.

LOCATION OF MAJOR ACTIVITIES AND FACILITIES

As at 30 June 2019, the Sports Foundation operates from an office based at the Australian Institute of Sport campus in Canberra, and an office at Sport House in Brisbane.

STATE OF AFFAIRS
The commencement of operations on 1 Julyl 2018 of the Australian Sports Foundation Charitable Fund represents a significant step forward, and greatly increases the opportunity for the philanthropic community to achieve positive social impact through sport in the years ahead.

2019 also saw the Sports Foundation present the inaugural Prime Ministers’ Sporting Oration, with
the Honourable Julia Gillard AC, Australia’s 27th Prime Minister and its first female Prime
Minister, delivering the Oration in November 2018. The event greatly raised the profile of the
Sports Foundation, and focused on the need to invest philanthropic funds in grassroots and
community sport for the future health of our nation. Funds raised through the event benefited
programs in key cause areas, including promoting sports participation among women and girls, and improving the health and activity levels of Australian children through sport.

The Play For Purpose sports and charity raffle was also launched in partnership with Sport
Australia and the 50–50 Foundation, a charity registered with the Australian Charities and Not For
Profits Commission. The first draw was held in February 2019 and hundreds of sports clubs are
already participating in the program,
raising thousands of dollars to promote health and activity levels in their communities through
sport.

FACTORS, EVENTS OR TRENDS INFLUENCING PERFORMANCE
There is growing awareness and focus on the need for more Australians to become more active, more often, and increasing recognition of the important role that community and grassroots sport plays in improving physical and mental health and building social cohesion. In addition, there are
challenges in funding Australian sport at all levels, and an increasing emphasis in Government
policy on the opportunity for philanthropic funding to help address some of the current and future
funding needs. The Sports Foundation will therefore play an increasingly important role in funding
sport and achieving improved social and community outcomes in the years ahead.

RISKS, OPPORTUNITIES AND FUTURE DEVELOPMENTS
Philanthropic giving represents discretionary spending on the part of prospective donors, and
consequently there is a risk that donations can be adversely affected by such factors as a huge
natural disaster affecting philanthropic giving, growing economic uncertainty, rising unemployment and the rising cost of living. Nevertheless, as donations to sport still represent less than 1% of all tax-deductible donations in Australia, the Directors consider there is substantial opportunity for future growth and opportunities outweigh risks.

There are a number of key developments that will provide opportunities for further funding growth
in the years ahead. The Sports Foundation’s newly-operational Charitable Fund will enable a broader focus on helping sport access funding from the philanthropic community and will also allow the Sports Foundation to increase the amount of funds distributed via its key grant programs, Giving4Grassroots and Sport4Everyone. Charitable funds will be allocated to programs that achieve positive social change by enabling disadvantaged or marginalized sections of the community to achieve improved health and social outcomes through sport. More generally, substantial growth is anticipated in funds raised for grassroots clubs, schools and eligible athletes in the period 2020–2025. This will be achieved by leveraging new and innovative partnerships and adopting new digital strategies to increase the number of clubs, schools and athletes that can access our support in raising funds.

The Sports Foundation also intends to expand its capabilities in providing new sources of funding
for sport
– for example, through growth of the Play For Purpose raffle. This was launched in 2019 in
partnership with Sport Australia and the 50–50 Foundation, with 50% of ticket sales going to
beneficiary charities and sports clubs. It is made available to sports clubs via the Sports
Foundation, and there are opportunities to grow this funding source in the years ahead.

The Sports Foundation is also expanding its capabilities to establish and leverage partnerships and sponsorships from the Australian business community to generate funds for investment into community sport.

Finally, the Government policy of broadening the meaning of sport to encompass “a broad range of physical activities including informal, unstructured activity such as walking, riding, swimming and running as well as traditional, structured sport and new and evolving sport and physical activity offerings” (as set out in the National Sport Plan: Sport 2030, published by the Australian
Government on 1 August 2018) will provide additional opportunities for the Sports Foundation to raise funds to promote a healthier more active society.

REVIEW AND RESULTS OF OPERATIONS
The operating profit for the year ended 30 June 2019 was $1,621,882 (2018 operating profit of
$777,848).

SIGNIFICANT DEVELOPMENT SINCE THE END OF FINANCIAL YEAR
There have been no significant developments since the end of the financial year.

ENVIRONMENTAL REGULATIONS
The Sports Foundation’s operations are not regulated by any significant environmental regulation
under a law of the Commonwealth or of a State or Territory.

DIRECTORS, AND THE FINANCE AUDIT AND RISK COMMITTEE

The Federal Minister for Sport is responsible for appointing the Board of Directors. The number of
Board members increased during the year to six (2018: 5 members).
Pursuant to the Public Governance Performance and Accountability Act 2013, independent Members of the Finance, Audit and Risk Committee are appointed following a competitive process and offered positions on the Committee based on the individual experience and skill sets they each bring.

Ms. Carbon Chaired the Sports Foundations Finance, Audit and Risk Committee throughout the 2018 financial year with Ms Brennan to occupy the role from 1 July 2019 onwards.

The independent members of the Finance, Audit and Risk Committee during the year were Mr. Rodney Balding, Deputy Chair, Mr. Jason Agnoletto and Ms Annabelle Williams, whose appointment concluded in September 2018.

INDEMNITIES AND INSURANCE PREMIUMS FOR OFFICERS

During the financial year, the Sports Foundation paid a premium in respect of a contract insuring
the Directors and Officers against liability incurred as such a Director or Officer, other than
conduct involving wilful breach of duty in relation to the Sports Foundation, to the extent
permitted by the Corporations Act 2001.

The contract of insurance prohibits disclosure of the nature of the liability and the amount of the
premium.

No person has applied for leave of Court to bring proceedings on behalf of the Sports Foundation or to intervene in any proceedings to which the Sports Foundation is a party for the purpose of taking responsibility on behalf of the Sports Foundation for all or any part of those proceedings.
The Sports Foundation was not a party to any such proceedings during the year.

AUDITOR’S INDEPENDENCE DECLARATION
A copy of the Auditor’s independence declaration in relation to the audit for the financial year is
provided with this report.

DIRECTORS’ BENEFIT
Since the end of the previous financial year, no Director has received or become entitled to
receive a benefit (other than a benefit included in the aggregate amount of emoluments received or due and receivable by Directors) by reason of the contract made by the Sports Foundation or a
related corporation with the Director or with a firm of which he or she is a member, or with a
company in which he or she has a substantial financial interest.

Dated at Canberra, on 13 November 2019

Director Signed in accordance with the resolution of the Directors.