Joombarn-buru Charitable Trust Update

  • Joombarn-Buru Charitable Trust – September Update

    Your Co-Trustees met recently to continue developing the Trust’s key policies and establish the budget for the financial year ending 30 June 2027. We have also presented to the JBAC Board and provided an update on Trustee activities.

    And since we’ve been getting to know each other, we thought it was time to introduce ourselves!

    The Directors of the Joombarn-buru Charitable Company Limited (JBCCL) are:

    • Rhonen Maher – Chairperson

    • Sam Cook – Director

    • Taliah Payne – Director

    Supporting JBCCL as Co-Trustee representatives from Perpetual are:

    • Wendy Miller – Trust Manager

    • Lachlan Haughey – National Manager

    Our meetings are also supported by Kylie Gibson, CEO of JBAC, and Carly Tapper from Regional Corporate Partners, who provides secretariat support.

    Together, the Directors and Co-Trustee representatives are working to ensure the Trust is managed responsibly, transparently and in the best interests of Joombarn-buru people, both now and for future generations.

    A great deal of work has been happening behind the scenes, including:

    Developing Key Policies

    The following policies have been carefully reviewed, with consideration given to the Trust’s objectives and the needs of the Joombarn-buru community. Final versions are expected to be completed in October:

    • Distribution Policy – how benefits may be distributed

    • Investment Policy – how the Trust’s wealth will be protected and grown

    • Accumulation Policy – how funds will be preserved and grown for the future

    Setting the Budget

    The budget for the financial year ending 30 June 2027 has been approved. It outlines expected investment returns and reflects the Trust Deed requirement that there will be no distributions, apart from funding for JBAC, during this first financial year.

    Planning for Community Benefits

    The Co-Trustees have continued discussing future community benefit programs that align with the Trust’s charitable objectives, as well as how to balance the needs of today with those of future generations.

    Growing the Trust’s funds to support sustainable distributions into the future remains a key focus as this important policy work continues.

  • The Co-Trustees are pleased to share this update about the Joombarn-Buru Charitable Trust. This has been an important time for the Trust as it becomes properly set up and ready to support the Joombarn-Buru people.

    An important milestone has recently been achieved, with funds successfully transferred from the Kimberley Sustainable Development Trust to Perpetual. The funds are now held in the Trust’s account and will be invested once the appropriate decisions and arrangements are in place.

    The Trust has two Co-Trustees: Joombarn-buru Charitable Company Limited and Perpetual Trustee Company Limited. This structure brings together Joombarn-buru community leadership and Perpetual’s professional trustee experience to ensure the Trust is managed carefully and meets its legal and financial responsibilities.

    The Co-Trustees have also been developing the policies that will guide how the Trust operates. Draft policies have been prepared and considered by the Directors of Joombarn-buru Charitable Company Limited. These cover important areas such as investing the Trust’s funds, making distributions and preserving funds for future generations.

    The Directors and Co-Trustees are taking a careful and considered approach. Decisions about investing the Trust’s funds will not be rushed. Time is being taken to assess the available options, understand the risks and ensure the investment approach aligns with the Trust’s charitable purposes.

    The decisions made now may influence the Trust for many years. The aim is to protect and responsibly grow the funds so they can deliver meaningful benefits for Joombarn-buru people today while building a strong financial foundation for future generations.

    The next steps are to continue considering the draft policies, investment options and practical arrangements for operating the Trust. The focus remains on sound decision-making, accountability and establishing a strong and sustainable Trust for Joombarn-buru people.