As a result of internal and external influences, particularly the financial impact of the change of our Association from internal to external Alumni Network of the University of Adelaide, and also a recognition of the progressive decline in the value of our Association’s financial reserves over a number of decades, your Committee has been taking a close look at our Association’s financial position.
As a result, your Committee believes our Association’s current financial position is not as strong as it needs to be.
In the past our Association’s financial reserves were able to accrue interest with sufficient spending power to cover some of our Association’s fixed annual costs.
Our Association ceased charging a membership fee two decades ago and your Committee does not believe the re-introduction of a membership fee is the answer to meeting our Association’s current and future financial requirements.
Your Committee has determined the answer lies with a vigorous three-year donations campaign, with a target of lifting our Association's financial reserves to at least $100,000 by the end of 2028, that is, Target 100K.
Target 100K can be achieved by, for example, 300 members donating $100 each year for three years.
Of course, any donation of any amount at any time will be gratefully received.
My initial $100 donation was made today so please join with me in ensuring a strong future for our Association.
Unfortunately, the Australian Government’s rules on the tax deductibility for donations to charitable organisations do not apply to our Association.