Policy, Research & International
AAG Research Trust
In July 2016 AAG received notification from the Executor of the estate of William Peter Steele Nicolson, that he had made a bequest of over $1 million dollars to the Australian Association of Gerontology. Mr Nicholson came from Roseville, NSW and was active in the community. His wish was that the fund be used to further research in ageing. This was a wonderful surprise and was the largest bequest to date received by AAG.
Following pro bono legal advice from Herbert Smith Freehills, AAG Board approved the setting up of a separate entity called the AAG Research Trust. The AAG Research Trust was structured as a public ancillary fund with deductible gift recipient status, which means that all donations of $2 and over are tax deductible. AAG is the Trustee of the AAG Research Trust and so although it is a separate entity, the Trustees are the same as the Board Directors of AAG.
In line with Mr Nicolson’s wishes, the purpose of the AAG Research Trust is to support funding into ageing research. The first Trustee meeting of the AAG Research Trust was held on Saturday 5 November 2016 and there are now four meetings scheduled per year. The Trustee’s are currently considering what will be the focus for the Trust within research in ageing and the investment strategy.
In 2016/17 AAG approved the move of $454,000 funds of the RM Gibson Research Fund (previously held within a separate account within AAG) into the Australian Association of Gerontology Research Trust as a Sub-Fund called the RM Gibson Research Fund. It is continuing to be used for the same purposes as it has in the past, namely providing support to early researchers to further their careers in gerontological research through the distribution of three annual grants for cutting edge research projects.
The Trust has been registered with the Australian Taxation Office and the Australian Charities and Not-for-profit Commission.
Thanks to the Executor, Herbert Smith Freehills and of course to William Peter Steele Nicolson who made this very generous bequest.
To view a copy of the AAG Research Trust 2016 - 2017 Financial Report, please click here.