Finance and investment
The Gundjeihmi financial plan operates on three levels. At the corporate level the objective is exercise prudent economic investment and financial planning to ensure long-term wealth creation. At the local and regional level the objective is to achieve collective and community benefit for Mirarr and all residents. At the personal level of Mirarr families and individuals the objective is to lift each person and each family out of poverty and social traps.
Moreover, the investment and business strategy is necessarily linked with regional development plans.
Gundjeihmi has developed a detailed business plan to:-
- ensure adequate income benefits for the Mirarr members and, where appropriate, for the wider Bininj community in the region
- invest in local facilities and infrastructure for the advancement of Bininj and the town of Jabiru
- invest locally and in other parts of Australia to develop long term financial returns in property and other assets.
Accordingly, Gundjeihmi holds a diversified property portfolio that includes:-
- Gundjeihmi Aboriginal Corporation office complex in Jabiru
- the Kakadu Youth Centre
- the Djidbidjidbi Residential College in Jabiru
- houses and associated buildings at Madjinbardi, Djirrbiyuk and other outstations
- part-ownership of Scarborough House in Woden, Canberra
- three retail businesses: Two Rivers Newsagency, Marrawuddi Gallery and Anmak An-me cafe at Bowali Visitors Centre.
The development of the investment portfolio demands expert planning and risk assessment. In 2009 Gundjeihmi contracted David Ward of Te Anau Consulting as a key advisor to the Board. Mr Ward is a former CEO of ANZ Trustees, a current Non-Executive Director of ANZ Trustees and Treasurer of Philanthropy Australia. His expertise in governance and investment management in the not-for-profit sector is highly valued by Gundjeihmi.
The Gundjeihmi investment strategy is based on building long-term wealth through property acquisition and investment in managed funds and equity structures. The Board has adopted an investment framework and appropriate guidelines to determine the placements of funds.