AEGN

The Keith & Jeannette Ince Fund

Fences and funding, surfing and cycads

15 August 2017

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Keith and Jeannette Ince divide their time between Noosa and Melbourne.

They have a keen interest in outdoor activities and are concerned about the impact on the environment from climate change, introduced species and human activity. They have a sub-fund with the Australian Communities Foundation.

Keith worked in investment management for 30 years. He was Founder and Joint CEO of Portfolio Partners and was Executive Vice Chairman and Head of Asset Management at Credit Suisse Australia. Keith served as a Director of the Australian Wildlife Conservancy (AWC) for many years and has recently joined the AEGN Board.

Why have you joined our Board?

My initial introduction to the AEGN was through David Thomas for which I am very grateful.

I have been very impressed with the achievements of the AEGN in facilitating the funding of environmental projects and increasing awareness of environmental issues.

David believed that with my background in business I could make a worthwhile contribution and with the support of both Amanda and Jill I am optimistic that this will be the case. I really see AEGN as on the cusp of being able to grow to the next level. I also have a very strong view about the environment. So I feel that if I can make a contribution it’s in assisting the AEGN to grow to another level, to see the AEGN become more and more successful. My motivation is really to assist the AEGN to develop a more prominent and influential role.

What made you decide to set up a sub-fund?

I originally wanted to set up a PAF when we sold Portfolio Partners in 1998. I could see a lot of gaps in Australia and around the world in terms of government funding. I realised there was a strong need for assistance in supporting environmental projects and the individuals who drive them.

1998 was quite early in the establishment of PAFs and unfortunately my accountant talked us out of it! Since that time we have set up a sub-fund with the Australian Communities Foundation.

On average what percentage of your corpus do you give away each year?

We’ve contributed about 10 per cent of the value of the fund each year to various issues.

Have you added funds to your corpus since you set it up?

Each year we make a contribution out of our income. So the corpus has grown probably four or fivefold and we intend to continue to grow it. It is partly tax driven but also we prefer to contribute more to our fund and then have a greater involvement in where the money is distributed.

To think how you can make a difference with a relatively small grant in the overall scheme of things is very difficult.

Keith Ince

Is your family involved in your funding?

We haven’t really involved the family at this stage. There hasn’t been a particular reason for this and they are aware of what we’re doing. Our longer terms plans are that a major part of our estate will go to the fund and to charitable organisations. We see it as a long term fund but ultimately that will be a decision for another generation.

Can you tell us a bit about your funding?

We choose a limited number of projects – four to five each year – and we make a significant, (for us), contribution to them. About 40 per cent of our funding goes to the environment.

How do you decide what to give to and how much time does this take?

To think how you can make a difference with a relatively small grant in the overall scheme of things is very difficult.

As an example of the approach we take, we went down the track of looking at Indigenous education. That became a very difficult exercise. We went to seminars and met with people but it was very hard to see where we could make a contribution and be confident we would get a positive outcome.

Then we were introduced to Richard Potok of The Aurora Project. Richard is a highly qualified lawyer who has developed relationships with Oxford and Cambridge. Now postgraduate Indigenous students are being accepted into those universities and will then return to their local communities to inspire others.

After meeting Richard we agreed to fund Aurora over a three year period.

Keith and Jeannette Ince

Which environmental project has inspired you the most?

We’ve always been a regular funder of the Australian Wildlife Conservancy. After being at Newhaven and seeing their work on a new feral proof fence we put our hands in our pockets to contribute – we made a double donation that year.

There was a time when the early explorers were wandering around Australia and their horses could hardly take a step without stumbling into the burrow of a small marsupial like the burrowing bettong or the bilby. Today, as a result of introduced species like cattle, camels, goats and cats, the habitat for these creatures has been compromised. Australia has one of highest extinction rates in the world and we have more threatened and endangered species than anywhere else.

The work that AWC has done on feral proof fences has been shown to be extraordinarily successful. The Newhaven fence will ultimately create the largest feral proof area in the world at 100,000 hectares and will see the reintroduction of many animals that are now extinct in that area.

That’s a massive win for the country to be able to leave that legacy for future generations. I don’t think that many people in Australia have seen a Bilby, but once they were roaming around all over the place and they are the most beautiful little creatures.

Do you find matched giving and challenge grants compelling?

I like the concept of the multiplier effect. I think that’s the appeal of matched giving, particularly if its only there for a limited time. It gets people motivated to make a decision now and not defer it to a future date.

When David Thomas agreed to a matching amount for AWC we were the first donors to match David’s grant. That was particularly generous of him and we were pleased to contribute funds.

How would you explain the importance of biodiversity to someone at a BBQ?

When Jeanette and I were in Peru last year we found that many of the young people are going back to the religion of their ancient culture. The Andean religion is about respecting and worshipping sacred mountains, streams, and Mother Earth. I couldn’t help but think what a better place the world would be if this was the religion for all of us.

My understanding of biodiversity is that it is the way that we as human beings interact with all that’s around us – the plants, animals and all living things as well as the land and oceans.

We need to think much more about the sustainability of all life because everything is  interconnected.

The thing that gives me great courage and hope however is that individuals, councils and even state governments are waking up to the fact that something needs to be done and are acting in a positive way.

Keith Ince

Do you see any exciting trends in philanthropy?

I’d like to think that the work the AEGN is doing focusing on environment is going to have a compounding and lasting effect. Instead of roughly 10 per cent of funds going to environment, I would like to see this figure doubled or even tripled and that other organisations and institutions are drawn in to contribute, including corporations. This would make an incredible difference to the future of our planet.

What makes you worried?

The world worries me. When I was born in 1949 the population of Australia was eight million people. It’s roughly 24 million today.

Rather than a larger population bringing increased opportunities and a better environment, things have become more difficult. Not so much for my children (in their mid 30’s and 40’s) but for future generations.

Then there is the issue of climate change. I find it hard to believe that there are still so many climate change deniers.

The thing that gives me great courage and hope however is that individuals, councils and even state governments are waking up to the fact that something needs to be done and are acting in a positive way.

If you could invent a technology what problem would it solve?

Climate change has to be at the top of the agenda. If there was a way to remove all the excess greenhouse gases in the atmosphere and reduce the acidity in the ocean that would be an incredible breakthrough.

What is your favourite plant?

Actually I have several.

Rhubarb because it invokes boyhood memories.

Boab trees in the Kimberley which can live for over 1500 years and the cycad because it has changed little since prehistoric times.

What about your favourite pastime?

Throughout my career I have had very stressful jobs and worked very long hours. But I was always determined that I would still be able to go surfing. Surfing has been a wonderful way for me to control stress and keep fit.

Through surfing I have developed a passion for the ocean which in turn has increased my awareness of the damage that we are doing to both the ocean and the environment.

I have to say that in the early part of my career I couldn’t tell people that I was a surfer. Surfers were seen as dropouts so surfing was not something to share with the captains of industry.

I also enjoy snow skiing and bushwalking.

Meet more members

From naturalist to philanthropist with Dr Barry Traill

Tracker Foundation

For more than 30 years, environmental campaigner Dr Barry Traill has been at the forefront of environmental protection in Australia, working as a research ecologist, consultant to industry and advocate.

Grantmaking and grandchildren

The Keith & Jeannette Ince Fund

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