Gary Tierney Foundation

A Legacy of which we can all be Proud

It is fitting that the first year of operation of the Gary Tierney Foundation has been bold, aspirational and successful beyond expectation. “Fitting” because the man in whose name this foundation has been established was a person of vision and action. Gary Tierney made things happen.

And so it has been a pleasure and an honour for all of us on the Foundation Board to carry on that tradition in a small, but important, way.

The late Gary Tierney joined the Point Leo Surf Life Saving Club in 1964 as a junior member and retained a passion for the club until his untimely death in November, 2009. A champion surf swimmer, Gary served for many years on the Point Leo committee, holding various positions including Club President. Behind the scenes, Gary also generously provided significant financial support to the club and individual members, as well as fulfilling an important mentoring role.

To perpetuate Gary’s memory the club established the Gary Tierney Foundation Fund in 2010. A separate Advisory Board administers the Foundation under a legally constituted governance charter and investments are restricted to those approved under the Trustee Act. The Board includes two past Presidents of the Point Leo SLSC, members of the Tierney family and club members with appropriate legal, investment and commercial expertise.

The changes to the Club’s Constitution were made at the Annual General Meeting on 14 August 2010. In less than 12 months, the Foundation has already become well established. With the benefit of several generous donations having been made, including from the Tierney family and the Club itself, the Foundation had achieved a balance of in excess of $80,000 by June 2011. The Advisory Board has set a target for capital of the Fund of $200,000. The Board aims to grow the capital base and to leave this intact, drawing only on the income that can be generated from this securely invested amount. This will ensure that the Foundation has an enduring benefit for decades to come.

The Foundation’s aim is to provide financial support to enable younger members of the Club to fulfill their potential in surf lifesaving. Grants will recognize and assist individuals who demonstrate the best of lifesaving – integrity, leadership and loyalty – and who have the potential to make an ongoing contribution to the Club. The Board has established guidelines to assist it in ensuring that Grants will be applied to deserving recipients who will benefit from the Foundation’s support.

Inaugural Grant Presentation

On 15 January 2011 almost 100 members of the Point Leo SLSC were present at the clubhouse for the presentation of the first Gary Tierney Foundation Fund Grant. Louise Tierney made the formal award to the inaugural Grant recipient, Lachlan Pearse. Louise outlined Lochie’s impressive progress with the club since joining in 2006, particularly in the competitive, patrol and fundraising areas. He had already gained a silver medal at National level and numerous medals at State Titles and at local and NSW carnivals. Within the club, Lochie has served as a Patrol Captain, Swim Captain and has participated in the SLSA Leadership Scholarship Program.

Since the Grant was awarded to Lochie, the Advisory Board has been thrilled with the dedication and enthusiasm he has shown. Lochie has set himself a punishing schedule for the next season, including:

• Continuing and building his Competition Training
• Developing Point Leo SLSC Facebook Page in conjunction with Bree Ambry, Jack Garner and Simone Williams
• Completing the Building Leaders Scholarship Program through LSV (along with Rosie Anderson)
• Starting and developing a Senior Women’s Competition Squad
• Working with the Club Captain and Vice-Captain to develop and improve patrols
• Working with Vice-Captain, First Aid Officer, Radio Officer and John Horwood to develop and improve patrol equipment and operating procedures
• Acquire TOC and Assessor hours to complete the two certificates….

Lochie’s exhausting list actually goes on!

Financial Statements and Governance

The Gary Tierney Foundation Fund is a sub-fund of the general Gift Fund of the Point Leo Surf Lifesaving Club Incorporated. The Club has been endorsed by the Australian Taxation Office as a deductible gift recipient in respect of its general Gift Fund. The Foundation was established to support and raise funds for the Club consistent with its purposes but so as to provide for a designated Gary Tierney Foundation Fund Grant.

As a sub-fund, the Foundations finances are audited as part of the Club’s Statutory Audit. A separate account is maintained to ensure that all amounts donated to the Foundation are quarantined and only used in accordance with the approved purposes as specified in the Foundation’s Governance Charter. The Foundation’s Charter and Grant Policy were approved by the Club Committee in December 2010.

The Advisory Board Members during the year were:

• Louise Tierney
• Mark Tierney
• Haydn Tierney
• Richard Batchelor
• John Horwood
• Andrew Mansour
• Tom Mollenkopf (Chairperson)

The Board formally met four times in the 12 months to 30 June 2011 (and on several other occasions informally)

Grants Policy

The Foundation has established a Grants Policy and it has published Guidelines for Nominations. These are available to all Club members and can be accessed on the download page of this website.

Generally the Board will recommend one Foundation Grant each year and it is envisaged that these grants will be payable over three years. The Board may seek nominations publicly, via the Club Committee, or it may nominate of its own motion following any consultation or enquiry it considers appropriate. For the 2011-12 season, the Board expects to call for nominations in October and will announce the Awardee in January 2012.

Tom Mollenkopf

Chairperson, Gary Tierney Foundation Advisory Board