Hes played 1 year of league. Roosters are paying for his tuition. He'd be mad to say no to that. Roosters deal is only till end of 2026 so it's not a full commitment.
And rugby definitely pulls strong.
School sporting scholarships/recruitment
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And rugby definitely pulls strong.
Section 83C
Frank Row (1)
Financial year end and I am bombarded with emails for a donation - oh the tax deduction!
It's never good when you end up being the subject of an Australian Financial Review Rear Window article just ask Hamish McLennan!
Hannah Wootton Columnist
Newington co-ed fight raises questions about private school charities
When you count so many investment bankers and accounting partners among your old boys, it’s no wonder your trust structures get complicated.
The fight of a few desperate old boys to stop their alma mater, Newington College, going co-ed was dealt another blow on Wednesday, this time in the NSW Supreme Court.
An anonymous current pupil, fronting for the anti-co-ed contingent, had claimed the school’s 1873 trust deed made the council’s decision to admit girls not just inappropriate, but illegal. Its reference to students as “youth” clearly meant boys, his lawyers said. They even pulled out a specific dictionary referencing a John Milton poem to prove their case. The wonders of a liberal education.
Parents and former Newington College students protest outside the Stanmore campus last year. Kate Geraghty
But Justice Guy Parker didn’t buy it. Even back then, “youth” was used in a gender-neutral context, he said. Different dictionaries backed this up, as did the use of other gender-neutral words to refer to students in the deed.
Definitions aside, the Supreme Court case actually served as a deep-dive into the school’s trust deed and its governing documents. It has raised eyebrows among some parents (including those at rival schools) about the rules under which Newington and its entities operate.
Particularly, why the Newington Foundation, the charity which collects and invests donations from parents and past students, isn’t run by the school itself. Its latest accounts show its balance is $102 million.
This is among the largest balances of any Australian private school’s charity arm. In 2023, which is the most recent year for which its accounts are available, it grew by about $11.8 million, mostly through income and fair value gains from its investments.
In that period, it gave just $1.5 million to Newington College through various grants for scholarships and capital works. So the foundation collects millions of dollars in donations from rich old boys (and soon old girls), and instead of using them to develop the school or support students, they play around as fund managers instead?
The management of these lucrative foundations and how to factor them into private schools’ bottom lines has long been contentious in discussions about education funding. Newington, incidentally, got more than $11 million in taxpayer funding last financial year.
The idea that schools themselves should administer them is gaining currency. The argument is that they are the ones who know best where money is needed. A NSW government review into private school funding actually recommended this be mandatory if schools contribute to the trusts.
Newington College has not only not gone down this route, but has gone the other way.
The school’s council had previously managed the foundation (including transferring around $30 million of Newington College’s revenue into it from 2015-2020). But in 2021, the council “retired” as the trustee of the Social Justice Foundation Limited. This was later renamed as the Newington Foundation.
We asked the school about the change. They said it was partly so the council wasn’t spread as thin, and the foundation could have more dedicated overseers. The foundation has recently funded some scholarships, a shade sail, and upgrades to the year eight and nine kitchen and Newington’s Eungai Creek campus.
It’s certainly got a killer board in terms of real-world firepower. Former Goldman Sachs partner and Aware Super director Phil Moffitt chairs it. Former Deutsche Bank managing director Chris Collings, Pendal Group exec Julia Forrest, Colin Biggers and Paisley restructuring partner Scott Hedge and former IRESS CEO Andrew Walsh are all directors.
But at what point should the Newington Foundation be spending instead of just growing? One parent suggested that maybe it’s been saving up its funds so it can offer tens of millions of dollars in scholarships to girls once it’s co-ed. Another court case might be on the horizon.
It's never good when you end up being the subject of an Australian Financial Review Rear Window article just ask Hamish McLennan!
Hannah Wootton Columnist
Newington co-ed fight raises questions about private school charities
When you count so many investment bankers and accounting partners among your old boys, it’s no wonder your trust structures get complicated.
The fight of a few desperate old boys to stop their alma mater, Newington College, going co-ed was dealt another blow on Wednesday, this time in the NSW Supreme Court.
An anonymous current pupil, fronting for the anti-co-ed contingent, had claimed the school’s 1873 trust deed made the council’s decision to admit girls not just inappropriate, but illegal. Its reference to students as “youth” clearly meant boys, his lawyers said. They even pulled out a specific dictionary referencing a John Milton poem to prove their case. The wonders of a liberal education.
Parents and former Newington College students protest outside the Stanmore campus last year. Kate Geraghty
But Justice Guy Parker didn’t buy it. Even back then, “youth” was used in a gender-neutral context, he said. Different dictionaries backed this up, as did the use of other gender-neutral words to refer to students in the deed.
Definitions aside, the Supreme Court case actually served as a deep-dive into the school’s trust deed and its governing documents. It has raised eyebrows among some parents (including those at rival schools) about the rules under which Newington and its entities operate.
Particularly, why the Newington Foundation, the charity which collects and invests donations from parents and past students, isn’t run by the school itself. Its latest accounts show its balance is $102 million.
This is among the largest balances of any Australian private school’s charity arm. In 2023, which is the most recent year for which its accounts are available, it grew by about $11.8 million, mostly through income and fair value gains from its investments.
In that period, it gave just $1.5 million to Newington College through various grants for scholarships and capital works. So the foundation collects millions of dollars in donations from rich old boys (and soon old girls), and instead of using them to develop the school or support students, they play around as fund managers instead?
The management of these lucrative foundations and how to factor them into private schools’ bottom lines has long been contentious in discussions about education funding. Newington, incidentally, got more than $11 million in taxpayer funding last financial year.
The idea that schools themselves should administer them is gaining currency. The argument is that they are the ones who know best where money is needed. A NSW government review into private school funding actually recommended this be mandatory if schools contribute to the trusts.
Newington College has not only not gone down this route, but has gone the other way.
The school’s council had previously managed the foundation (including transferring around $30 million of Newington College’s revenue into it from 2015-2020). But in 2021, the council “retired” as the trustee of the Social Justice Foundation Limited. This was later renamed as the Newington Foundation.
We asked the school about the change. They said it was partly so the council wasn’t spread as thin, and the foundation could have more dedicated overseers. The foundation has recently funded some scholarships, a shade sail, and upgrades to the year eight and nine kitchen and Newington’s Eungai Creek campus.
It’s certainly got a killer board in terms of real-world firepower. Former Goldman Sachs partner and Aware Super director Phil Moffitt chairs it. Former Deutsche Bank managing director Chris Collings, Pendal Group exec Julia Forrest, Colin Biggers and Paisley restructuring partner Scott Hedge and former IRESS CEO Andrew Walsh are all directors.
But at what point should the Newington Foundation be spending instead of just growing? One parent suggested that maybe it’s been saving up its funds so it can offer tens of millions of dollars in scholarships to girls once it’s co-ed. Another court case might be on the horizon.
only signed until the end of yr 12 (2026) he will head back to Qld
The Cleaner
Bill Watson (15)
Hope so! With Lemoto gone, Agapetos will be the perfect #8 for Scots.