Overview of roles and responsibilities of the Trustees of the Gallery
Presented by George Milford
- The role of the Trust is to administer funds. The Trust is distinct from the operational arm of the business.
- Most bequests to the Trust are restricted, specifying particular purposes for spending such as ‘pictures by female artists’ or award of an art prize. These restricted bequests make up the bulk of the Trust and CAM Ltd cannot access them for day-to-day operations. This is a tension that we’ve been living under for a long time.
- In the past three years, the Trust has made available close to $1 million in funds to assist the Gallery’s operations:
- 2014/15 – $157,153
- 2015/16 – $239,282
- 2016/17 – $377,156 and $60,000 on the Fox Award
- 2017/18 – $160,000 so far this year.
- The relationship between the Trust and the Board is symbiotic. The Trust is excluded from all operational decision-making, however the Trust and Board meet regularly. Any conflicts are resolved via phone, emails, or face to face meetings. Both parties are aiming toward the one objective.
- Trustees serve in a volunteer capacity.
High standards are required from the Trustees under the Trustee Act. We are answerable to the Australian Charities and Not-For-Profit Commission (ACNC). As a registered Deductible Gift Recipient Fund, we must meet certain accounting standards. We are also answerable to donors and executers when we walk around the streets. Last but not least, we are accountable to members of CAM. Hopefully we have done our duty to you under a funding crisis that has been most distressing.