Annual Report & Annual Financial Statements
THE APEX FOUNDATION CHAIRMAN’S REPORT
It is my pleasure to present the Chairman’s Report this year, and it is a great honour to have worked with a Board of Directors who have such a commitment to the cause of the Foundation.
The Annual Report is always a showcase of the activities undertaken during the year and I commend this document to you. Of course, this work would not be possible without the support of our Executive Officer Sapna Agarwal and Accountant Phil Higgerson and the various Committees who support our facilities attached to the Underprivileged Children’s Trust and the Civilian Widows Trusts.
We also receive donations and sponsorship and other forms of in-kind support from many of our Members, Past Apexians and external organizations which are of enormous benefit to our Trusts. A big thank you for your ongoing contributions.
At the last Annual General Meeting we had two new Directors join the Board – Graham Cassidy – former Apex NSW State Secretary and Life member Hills District Apex Club with business skills in the areas of Insurance, Administration and Marketing and External Director John King, Solicitor, with a wealth of experience in the Not-for-Profit sector. Both have brought new ideas to the Company, particularly in the areas of strategic planning and compliance. In addition to managing their individual Trusts, I would also like to thank Tony Wilshire (Vice Chairman), Mike Fitze (Secretary), Lindsay Carthew (Investments & Marketing) in undertaking these extra duties, Jamie Vincent for his tireless work in raising funds and organizing work parties for the Chalet and Stephen Bigarelli for looking after the Finances and giving me support, being our Immediate Past Chairman.
This year we had the normal process of change over of Apex Association National Presidents as representatives on the Board. This occurred in July, where we said good bye to Robert (Moses) Abraham, who made an excellent contribution and welcomed Neal Molineaux as his replacement. This year, three Directors retire by rotation, being myself, Mike Fitze and Lindsay Carthew. All three are seeking re-election.
We are proud to have reached a total contribution of $20 million – $10 million in grants for various causes that we have been funding over the years and $10 million worth of accommodation provided by our facilities with Underprivileged Children’s Trust. The Apex Foundation which was set up in 1969, continues to carry out the ideals of the Apex clubs.
From the financial perspective we have had another successful year. This is well documented in the Statutory Accounts, with a net surplus of $ 399,303 and net assets of $ 10,000,511. We thank Shaw and Partners for their investment advice, sponsorship and the provision of their facilities for the Annual General Meeting.
Unfortunately, we were required to relinquish the Trusteeship of the Cowled Foundation in September 2018, due to a change in direction by Laurie Cowled. Further details are contained in the Notes to the Statutory Accounts and we thank Laurie for the opportunity to act as Trustee over the last five years.
During the year, I had the opportunity to attend the Apex 40 Rort in Launceston and the Apex National Convention in Wagga. Both were fantastic events which certainly proved we are all one family with the thread of Apex the obvious common link. We as a Board look forward to working together as opportunities arise.
In my view, all our Trusts are in excellent shape and on behalf of the Board we are very proud to serve as the custodian of the funds and facilities of the Underprivileged Children’s Trust, which allows the legacy of past Apexians and like-minded organizations to continue.
Chairman Apex Foundation