News

May 7, 2019

Andrew, Nicola Forrest Contribute $458 Million to Minderoo Foundation

News Source: Philanthropy News Digest

The Minderoo Foundation in Dalkeith, Australia, has announced that co-founders Andrew and Nicola Forrest have given an additional AU$655 million ($458 million) to the foundation, boosting the couple's total giving to the foundation to AU$1.5 billion (nearly $1.05 billion).

The gift, which the couple transferred in installments over the past six months, will support new and existing global projects, including initiatives designed to advance ocean health, eradicate human rights abuses, drive cancer research collaboration, improve early childhood development, and provide educational scholarships. Established in 2001, the foundation works to promote equality for vulnerable individuals, as well as community improvement through arts and culture programming.

"The [AU]$400 million donation we announced in 2017 gave us the ability to scale up our existing initiatives and plan ahead," said Minderoo Foundation director Nicola Forrest, who with her husband signed the Giving Pledge in 2013. "In July 2018, we announced a new initiative within the foundation — Flourishing Oceans — which will help study and protect global marine life. Now, this further injection of capital will bolster the foundation's existing work, allow it to continue to grow under the leadership of chief executive Andrew Hagger and see us collaborate on more projects that hopefully leave the world in a better place."

"The Forrests not only inspire with their generosity but serve as role models, in a region where there are few, with their strategic approach to achieve impact and desire to collaborate to multiply efforts," said Asia Philanthropy Circle CEO Laurence Lien. "I especially hope more will learn and replicate their systems approach to tackling complex issues, like human trafficking."