The Gumala Trust (GIPL) plays a vital role as the Trustee of the General Gumala Foundation (the “Foundation”), and as such, has legal responsibilities to appropriately manage and supervise the monies received and distributed on behalf of the Foundation under the terms of its Trust Deed.
Since 1997, The Gumala Trust (GIPL) has been acting as a ‘safe pair of hands’ to ensure the best interests of the Innawonga, Bunjima and Niapaili people, are being met both now and in the future.
The Gumala Foundation has experienced a big drop in revenue due to changes to the way mining is performed at Rio Tinto’s Yandi iron ore mine and a fall in the price of iron ore. This fall in revenue has given us the opportunity to look at the way we do things and make some changes to the way we spend money.
In these challenging times, the Trustee and Manager are working collaboratively with one another to harmonise systems and procedures to reduce administration costs and to maximise the amount of money available for Beneficiaries.
The shared services model aims to reduce any duplication in administrative functions, however does not compromise the independence of the Trustee (whilst preserving and assuring the independence of GAC) and respects the different roles each entity plays within the Foundation. The Trustee Board strongly believes that an independent Trustee is fundamental to ensuring a sustainable Foundation.
The Foundation is shifting from a model of delivering direct individual assistance, to a model that provides collective benefits for the Beneficiaries of the Trust. We are looking to build partnerships that deliver long term and sustainable programs that deliver real social, economic, environmental and cultural outcomes for the Innawonga, Bunjima and Niapaili peoples.
There is still so much work to be done in setting the direction for the General Gumala Foundation and establishing priorities for success in meeting the aims of the Foundation. The Gumala Trust Board is committed to working with GAC, to help it, as Manager, steer a course to sustainable cultural, social, economic and environmental programs that help Innawonga, Banjima, and Niapaili people provide better futures for their families.
For further information about The Gumala Trust (GIPL) and its role within the Foundation please visit www.gumalatrust.com.