Annual Information Statement 2017
Western Research Institute Limited
Section A: Charity Information
Basic Religious Charity:
Section B: Activities
Did the charity operate in the 2017 reporting period?
Economic, social and community development
Description of charity's activities and outcomes:
In 2017-2020 WRI embarked on our ambitious strategy of strengthening our role as a leading contributor to research and policy for inland communities. Achieving this target will set WRI on path of long term growth that will enhance our capacity to service our regional communities and expand our contribution to our Inland Research Fund.In 2017, WRI contributed a further $50,000 ot the Inland Research Fund and undertook wide consultation with stakeholders on the priorities for the IRF agenda. In July 2017 our board of Directors re-committed to a strategic revenue target of $1.5 million. This target includes annual revenue contributions to building the Inland Research Fund.As an organisation we are committed to ensuring inland communities continue to have access to high quality advice that is informed by independent, credible and objective research, and we demonstrate this by returning our surpluses back to regional communities through the Inland Research Fund. In 2017 this commitment was recognised at Bathursts Carillion Business Awards where we were awarded Excellence in Social Enterprise. This is a significant achievement for our organisation and highlights the quality of work produced by our research team and the contribution our research makes to the broader regional community.In 2017 WRI completed 23 consulting projects. These research projects continue to provide critical information and analysis for local organisations to bid for grants and funding, for example, Bathurst Regional Council successfully secured $10 million in federal funding using an independent economic appraisal of their Velocity Park development. Through out 2017 WRI contributed 11% of our annual expenditure to regional development activities including; providing insights and commentary on a range of issues including the 2016 Census results, marriage equality and budget and funding announcements; providing thought leadership at key economic development conferences including the Australian Regional Development Conference; and sponsorship of other regional development organisations such as the Illawarra Regional Information Service.
People in rural/regional/remote communities
General community within Australia
Where the charity conducted activities during the 2017 reporting period:
New South Wales
Will the charity change or introduce any activities in the 2018 period?
Section C: Human Resources
- Full time employees: 2
- Part time employees: 3
- Casual employees: 6
- Full-time equivalent staff (FTE): 2
- Estimated number of volunteers: 0
Section D: Finance
Charity's 2017 reporting period:
1 January 2017 to 31 December 2017
Type of financial statement:
General purpose financial statements
Financial report consolidated with more than one entity?
Did your charity have any related party transactions?
Does your charity have documented policies or processes about related party transactions?
Comprehensive Income Statement summary
Donations and bequests:
Revenue from providing goods or services:
Revenue from government including grants:
Revenue from investments:
All other revenue:
Other income (for example, gains):
Total gross income:
Grants and donations made for use in Australia:
Grants and donations made for use outside Australia:
All other expenses:
Other comprehensive income:
Total comprehensive income:
Balance Sheet extract
Total current assets:
Total non-current assets:
Total current liabilities:
Total non-current liabilities:
Financial report submitted to a state/territory regulator?
Section E: Annual report
Section F: Reporting to state or territory regulators
Is the charity an incorporated association?
Does the charity intend to fundraise in the next reporting period?