Financial Report
The directors present their report, together with the financial statements on the consolidated entity, consisting of the Viridian Foundation Limited and its sole controlled entity the Viridian Foundation Trust (referred to hereafter as the ‘Trust’) at the end of, or during, the year ended 30 June 2025.
Directors
The following persons were directors of the trustee company during the whole of the financial year and up to the date of this report, unless otherwise stated:
Ian Granter
Michael Ehrentraut
Emma Woolley (resigned 19 November 2024)
Kathy Havers
Gary Riordan
Adam Youkhana (resigned 8 October 2024)
Suna Cavanagh
Andrew Gratton (appointed 10 December 2024)
Linda Earnshaw (appointed 10 December 2024)
Todd Bromwich (appointed 10 December 2024)
Principal activities
During the financial year, the principal continuing activities of the consolidated entity consisted of:
● Fundraising for the purpose of providing money or benefits to or for eligible entities.
No significant change in the nature of these activities occurred during the year.
Objectives
The surplus for the company amounted to $730,709 (30 June 2024: $955,484).
The short-term objectives of the Viridian Foundation is to formalise a clear funding, giving and volunteering pathway as part of our corporate responsibility. The primary focus is to support key community initiatives and organisations aligned to the Foundation’s five core social causes as reviewed each year by the Board and trustees. Placing people at the centre of what we do reinforces the importance of people’s wellbeing which then through the work of the Foundation puts Community health and wellbeing at the heart of our Viridian culture.
The long-term objectives of the Viridian Foundation remains focussed on long term sustained fund raising, creating opportunities for like-minded customers to leverage our structures and resources to make a difference in moments that matter and to gain brand recognition within our community as a leading corporate philanthropic foundation. Some of our longer term objectives include:
- Ongoing board renewal – Bringing in specialist skills, capability and diversity in key areas.
- Lifting fundraising – Elevating event driven fundraising and overall funds under management to beyond $5m over next 3 years.
- Pro bono advice – Continue to lift our partnership with the Cancer Council.
- Advisor education – Continued investment in our advisor education to assist clients with their philanthropic aspirations.
Information on directors
| Name: | Michael Ehrentraut |
| Title: | Chief Sustainability Officer and Co-Founder Viridian Financial Group Ltd |
| Qualifications: | B.Soc.Sc CAIB(SA) DFP SA (Fin) GAICD MBA |
| Experience and expertise: | Executive Viridian Financial Group Ltd – 10 years |
| Special responsibilities: | Chair Viridian Foundation; Chair Risk, Governance and Compliance Committee |
| Name: | Ian Granter |
| Title: | Head of Infinity Capital Finance; Director Client Services; Executive Director of Viridian Foundation Ltd |
| Qualifications: | BBus (Acct), GradDip FP |
| Experience and expertise: | Executive – Viridian Financial Group Ltd – 8 years |
| Special responsibilities: | Director, Viridian Foundation Limited, Member, Investment Committee, Manager, Foundation Operations. |
| Name: | Kathy Havers |
| Title: | Executive Financial Advisor |
| Qualifications: | CFP, MEI, GAICD |
| Experience and expertise: | Executive Director, Viridian Foundation Ltd – 7 years |
| Special responsibilities: | Member Investment Committee, Viridian Foundation Ltd. |
| Name: | Todd Bromwich |
| Title: | Special Counsel, Tax, Hall and Wilcox |
| Qualifications: | LLB (Hons), BCom(Hons) |
| Experience and expertise: | Non-Executive Director, Viridian Foundation – 1 year and over 8 year Legal Industry. |
| Special responsibilities: | Member, Risk, Compliance & Audit Committee |
| Name: | Gary Riordan |
| Title: | General Counsel and Company Secretary Viridian Financial Group Ltd; Company Secretary and Director, Viridian Foundation Ltd |
| Qualifications: | B.Ec LLB |
| Experience and expertise: | Non-Executive Director Viridian Foundation – 4 years |
| Special responsibilities: | Company Secretary, Viridian Foundation Ltd and Viridian Financial Group Ltd |
| Name: | Andrew Gratton |
| Title: | Regional Manager, Vic & Tas, Viridian Financial Group Limited |
| Qualifications: | BAHons, DipFinPlan, ADFP |
| Experience and expertise: | Executive Director, Viridian Foundation – 1 year and 15 years Financial Services Industry |
| Special responsibilities: | Member, Investment Committee |
| Name: | Suna Cavanagh |
| Title: | Executive Director, Viridian Foundation – 1 year |
| Qualifications: | BCom, DipFinPlan |
| Experience and expertise: | Regional Manager, Viridian Financial Group Limited; Executive Director, Viridian Foundation |
| Name: | Linda Earnshaw, OAM |
| Title: | Non-Executive Director, Viridian Foundation – 1 year |
| Qualifications: | BCom, DipFinPlan |
| Experience and expertise: | People Leader, Viridian Financial Group Limited and 35 years Financial Services Industry |
Company secretary
Gary Riordan
Meetings of directors
The number of full board meetings of the company’s Board of Directors (‘the Board’) and of each Board committee held during the year ended 30 June 2025, and the number of meetings attended by each director were:
| Full Board | ||
| Attended | Held | |
| Ian Granter | 5 | 5 |
| Michael Ehrentraut | 5 | 5 |
| Emma Wooley | 1 | 5 |
| Kathy Havers | 5 | 5 |
| Gary Riordan | 5 | 5 |
| Suna Cavanagh | 5 | 5 |
| Tom Bromwich | 2 | 5 |
| Linda Earnshaw | 2 | 5 |
| Andrew Gratton | 2 | 5 |
Held: represents the number of meetings held during the time the director held office or was a member of the relevant committee.
Review of operations
The surplus for the company amounted to $730,710 (30 June 2024: $955,484).
Donations:
The Viridian Foundation Limited has made donations to a variety of sources, including both foundations and corporations. During the year ended 30 June 2025, the entity made direct, financial donations of $664,224 made up of the following:
- Environment and climate change – 41.6%
- Health and medical research – 44.1%
- Mental health and wellbeing – 2.5%
- Homelessness – 7.6%
- Family and domestic violence – 1.3%
- Indigenous – 2.2%
- Other – 0.7%
The Viridian Foundation Limited is a not-for-profit foundation that completes fundraising for the purpose of providing money or benefits to or eligible entities. The entity operates in a complex and ever-changing environment, and it is exposed to a number of significant risks. The following are three of the most significant risks facing the entity in 2024:
(a) Regulatory Risk
The Risk that funds donated to charities do not comply with the rules and regulation of a Public Ancillary Fund, as prescribed and outlined under the Taxation Administration (Public Ancillary Fund) Guidelines 2022, as well as any subsequent changes to legislation. The Governance, Risk and Compliance Committee, chaired by the Group’s Chief Risk Officer and represented by two further Board members including one independent Director, specialising in Philanthropic Law has strengthened considerably over the past year.
(b) Key Person Risk
The loss of key individuals could lead to operational and reputational risks that could impact clients and employees as well as the very charities the Foundation is trying to serve and support. Key person risk has diminished with ongoing board renewal through the past 12 months providing broader regional representation as well as ongoing renewal of board committee membership.
(c) Economic Risk
The economic downturn risk, as outlined 12 months ago, is diminishing. The inflationary environment and related interest rate cycle is looking more promising for the year ahead. We remain cautious with discretionary spend remaining tight in an ever competitive giving landscape.
Indemnity and insurance of officers
The company has indemnified the directors and executives of the company for costs incurred, in their capacity as a director or executive, for which they may be held personally liable, except where there is a lack of good faith.
During the financial year, the company paid a premium in respect of a contract to insure the directors and executives of the company against a liability to the extent permitted by the Corporations Act 2001.
Contributions of winding up
In the event of the company being wound up, ordinary members are required to contribute a maximum of $10 each. The total amount that members of the company are liable to contribute if the company is wound up is $80, based on 8 current ordinary members.
Auditor’s independence declaration
A copy of the auditor’s independence declaration under subdivision 60-C section 60-40 the Australian Charities and Not-for-Profits Commission Act 2012 is set out immediately after this directors’ report.
Auditor
A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors’ report.
This report is made in accordance with a resolution of directors, pursuant to section 298(2)(a) of the Corporations Act 2001. On behalf of the directors
Ian Granter
Director of Trustee company
Michael Ehrentraut
Director of Trustee company
27 October 2025
Melbourne
