Refreshed Strategic Plan Announced
May 6th, 2018
The Myer Foundation & Sidney Myer Fund have announced a refreshed strategic plan that will underpin the two entities’ activities for five years from 1 July 2018.
As part of the FY19 – FY23 strategy SMF/TMF will retain aspects of the current strategy that have worked well and remain relevant but will take the opportunity to refresh our practices to maximise the impact of our grantmaking whilst further strengthening family engagement.
Our strategic themes for FY19 – FY23 will be: people, organisations, beyond grantmaking, and family engagement.
The Myer Innovation Fellowships, the Sidney Myer Creative Fellowships and the Sidney Myer Performing Arts Awards will be retained. In partnership with the Ian Potter Foundation, a new program investing in Australia’s not-for-profit sector’s leaders will be established.
Organisational funding within the Poverty & Disadvantage, Sustainability & Environment and Arts & Humanities Programs will be directed to multiyear, unrestricted general operating support.
Consistent with The Myer Foundation and Sidney Myer Fund’s values, support will be directed to advocacy and policy change. We will continue to collaborate and convene within and beyond the philanthropic sector for the purpose of maximising our impact. The Sidney Myer Fund will maintain its current level of commitment to market building activities in the impact investment space. Subject to appropriate investment opportunities becoming available, our commitment to impact investing through The Myer Foundation’s corpus will increase from $2 million to an aspirational target of $6 million. The Myer Foundation Investment Committee and Sidney Myer Fund will investigate options for divestment from fossil fuels.
The Sidney Myer Fund and The Myer Foundation are two entities of Myer family philanthropy and family engagement remains a cornerstone of their activities.
We will have three large program areas: Arts & Humanities and Poverty & Disadvantage funded by the Sidney Myer Fund, and Sustainability & Environment funded by The Myer Foundation. The Education program will be phased out from the end of FY18. Small grants in Poverty & Disadvantage will be restructured with a view to building the capacity of the not-for-profit sector. The graphic included below provides an overview of the FY19 — FY23 Strategic Plan.Return to top