During the financial year the Finance Committee met on four occasions and the Audit Committee met on two occasions.

MEMBERS OF THE FINANCE COMMITTEE IN 2021–2022 WERE:

Mr Anthony Burgess (Chair)

Mr Craig Drummond

Mr Charles Goode AC

Mr Allan Myers AC, KC

The Hon Alex Chernov AC, KC – resigned February 2022

MEMBERS OF THE AUDIT COMMITTEE IN 2021–2022 WERE:

Mr Craig Drummond (Chair)

Mr Anthony Burgess

Mr Charles Goode AC (by invitation)

Mr Allan J Myers AC KC

The Board extend their appreciation to Pitcher Partners who provide audit services to the Foundation and administered entities.

Directors have approved a distribution budget of $33,350,000 for IPF in the 2022–2023 financial year. The corpus of The Ian Potter Foundation is invested in a diversified portfolio including listed investment companies, managed funds and ETFs. The corpus is managed by members of the Finance Committee.

1. Investment income in FY21 includes The Margaret Reid Kingston Bequest

2. Future commitments includes current and non-current combined

3. Net assets – Total assets less liabilities (excluding grant commitments)