Annual Information Statement 2016

Legal Name: 
Western Research Institute Limited
ABN: 
76090089991

Section A: Charity Information

Charity size: 
Medium
Basic Religious Charity: 
No

Section B: Activities

Did the charity operate in the 2016 reporting period?
Yes
Main activity: 
Research
Main activities: 
Economic, social and community development
Description of charity's activities and outcomes: 
In 2016, WRI embarked on an ambitious new Strategy to strengthen WRIs role as a leading contributor to research and policy on inland development. Our strategy focusses on the sustainability and growth of WRI, so that we can ensure that inland communities continue to have access to high quality advice that is informed by a rigorous understanding of the circumstances, needs and opportunities of our communities. WRI believes it continues to have a critical role to play in contributing to discussions that ensures that public policy is responsive to the particular aspirations, opportunities and needs of inland communities. One way we achieve this through our research consultancy projects. In 2016 WRI completed 32 consulting projects. These projects enable key organisations in our communities to highlight their value, bid for critical funding and better understand their stakeholders and economic environment to make informed, robust decisions. In 2016, 100% of applications we supported for infrastructure funding were successful.In 2016 we committed to increasing our engagement in public conversations on regional economic development. We did this through hosting events and roundtable discussions which brought together key stakeholders from across our communities to share knowledge and insights on economic development and digital innovation. Furthermore we committed to invest in the growth of our communities by buying from regional businesses, contributing to public discourse and funding public events and research. In 2016 we returned 8% of our operational budget into regional development activities including:Sponsorship of the Australian Regional Development Conference, partnership with the Illawarra Regional Information Service, the Bathurst Womens Network and the Bathurst Business Chamber;Providing thought leadership and insights at key economic development forums, including hosting an Innovation Forum as part of our Insight Series, presenting to the Economic Development Officers Network, chairing a panel at the Australian Regional Development Conference and leading media commentary on inland rail at the Central West Business Summit;Publication of research reports, particularly an Aged Care Skills Hotspot report with Verto; andA range of media commentary and other engagement activities.We aim to be a trusted partner of business, government and communities in regional development. We aim to service our stakeholders and we have been working hard to make sure that we meet or exceed their expectations. As a result of our success, in 2016 our Net Promoter Score increased from 54% to 80%.Our integrity, local knowledge and strong local collaborations ensure that our advice and support is highly sought after. Our public engagement activities resulted in 50 media reports citing our research or commentary, further highlighting our goal to be a thought leader and credible source of commentary for our communities.
Will the charity change or introduce any activities in the 2017 period?
No
Where the charity conducted activities during the 2016 reporting period: 
New South Wales
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
  • Part time employees: 4
  • Casual employees: 2
  • Estimated number of volunteers: 10

Section D: Finance

Type of financial statement: 
General purpose financial statements
Financial report consolidated with more than one entity?
No
Did your charity have any related party transactions?
No
Does your charity have documented policies or processes about related party transactions?
No
Charity's 2016 reporting period: 
1 January 2016 to 31 December 2016
Financial report submitted to a state/territory regulator?
No
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.

Income and Expenses

Comprehensive Income Statement summary

Gross Income
Donations and bequests: 
$0.00
Revenue from government including grants: 
$0.00
All other revenue: 
$599,551.00
Total revenue: 
$599,551.00
Other income (for example, gains): 
$0.00
Total gross income: 
$599,551.00
Expenses
Employee expenses: 
$345,431.00
Grants and donations made for use in Australia: 
$0.00
Grants and donations made for use outside Australia: 
$0.00
All other expenses: 
$199,477.00
Total expenses: 
$544,908.00
Net surplus/(deficit): 
$54,643.00
Other comprehensive income: 
$0.00
Total comprehensive income: 
$54,643.00

Balance Sheet extract

Assets
Total current assets: 
$497,110.00
Total non-current assets: 
$12,191.00
Total assets: 
$509,301.00
Liabilities
Total current liabilities: 
$168,019.00
Total non-current liabilities: 
$0.00
Total liabilities: 
$168,019.00
Net assets/liabilities: 
$341,282.00