Annual Information Statement 2016

Legal Name
National Foundation for Medical Research and Innovation
ABN
85001422895

Section A: Charity Information

Charity size
Large
Basic Religious Charity
No

Section B: Activities

Did the charity operate in the 2016 reporting period?
Yes
Main activity
Research
Main activities
Grant-making activities
Estimated percentage of charity's grant funding that was
  • Granted through a public or open application process, or similar: 100%
  • Part of multi-year grants: 56%
Description of charity's activities and outcomes
This has been an incredible year for the Foundation - not only in terms of strategy implementation, but also in relation to working towards achieving our mission and purpose. We have been able to support a number of exciting projects, not just financially, but also via additional value-adding support such as mentoring, pro-bono access to important services and access to networks to name a few. These projects that struggle to receive traditional funding and are at risk of withering on the vine are now thriving and the innovations are a few steps closer to reaching the community.These funded projects continue to achieve and surpass anticipated results. Where we originally expected impact in a 3 to 5-year timeframe, a number of projects are achieving success within a single calendar year. Projects are advancing along the innovation pathway, attracting industry collaborators and reaching milestones sooner than anticipated. We continued to receive an increasing number of worthy applications, with many falling under portfolios 2 and 3 during 2016, where external collaborations are leveraged to advance innovations. This year, we also continued to deliver a number of workshops and presentations at universities, medical research institutes, sector events and conferences held during the year to help grow awareness, inform researchers and assist them to submit high quality, strategically-aligned proposals. This, combined with our annual grant round, led to the identification of a significant number of high quality biomedical research projects and the announcement of $1,058,584 in new research grants commencing in 2017. If you would like to read more about the achievements of our funded projects, please refer to our 2016 annual report, available here: http://nfmri.org.au/wp-content/uploads/2016-AR-copy-1.pdf
Will the charity change or introduce any activities in the 2017 period?
No
Where the charity conducted activities during the 2016 reporting period
  • Australian Capital Territory
  • New South Wales
  • Northern Territory
  • Queensland
  • South Australia
  • Tasmania
  • Victoria
  • Western Australia
Who was helped most by the charity's activities in the reporting period
General community within Australia

Section C: Human Resources

Human resources
  • Full time employees: 2
  • Estimated number of volunteers: 20

Section D: Finance

Type of financial statement
General purpose financial statements
Financial report consolidated with more than one entity?
No
Charity's 2016 reporting period
1 January 2016 to 31 December 2016
Financial report submitted to a state/territory regulator?
Yes
2016 Financial report
Note: If you want to see the financial report or annual report that this charity has submitted, go back to Financials & Documents.
State or territory of the regulator where financial report was submitted
  • Australian Capital Territory
  • South Australia
  • Victoria
  • Western Australia

Income and Expenses

Comprehensive Income Statement summary

Gross Income
Donations and bequests
$140.00
Revenue from government including grants
$72,075.00
All other revenue
$1,195,054.00
Total revenue
$1,267,269.00
Other income (for example, gains)
$172,777.00
Total gross income
$1,440,046.00
Expenses
Employee expenses
$244,727.00
Interest expenses
$0.00
Grants and donations made for use in Australia
$703,457.00
Grants and donations made for use outside Australia
$0.00
All other expenses
$145,630.00
Total expenses
$1,093,814.00
Net surplus/(deficit)
$346,232.00
Other comprehensive income
$66,601.00
Total comprehensive income
$412,833.00

Balance Sheet extract

Assets
Total current assets
$2,580,472.00
Non-current loans receivable
$0.00
Other non-current assets
$19,613,879.00
Total non-current assets
$19,613,879.00
Total assets
$22,194,351.00
Liabilities
Total current liabilities
$234,588.00
Non-current loans payable
$0.00
Other non-current liabilities
$31,900.00
Total non-current liabilities
$31,900.00
Total liabilities
$266,488.00
Net assets/liabilities
$21,927,863.00