Since 1997, GIPL has been acting as a “safe pair of hands” to ensure the best interest of our Beneficiaries are being met both now and in the future. GIPL’s roles and responsibilities are outlines in the General Gumala Foundation Trust Deed: a comprehensive 34-page legal document between GAC, GIPL and the Traditional Owners of the three language groups of Gumala. GIPL has a vital role as the trustee of the Foundation, with legal responsibility to appropriately manage and supervise the monies received and distributed on behalf of the Foundation under the terms of its Trust Deed.
The Trust Deed specifies the Income Utilisation Categories (IUCs) against whist the income of the Trust can be allocated towards, for improving the lives and opportunities of our Beneficiaries.
The IUCs are:
- Education & Training
- Business Development
- Health & Wellbeing
- Community Development
- Cultural Purposes
- Other
GIPL is also required to have regards for the needs of the future generations of Beneficiaries will be met when the Yandicoogina Mine ceases to operate. As such, the GGF Investment Policy is committed to achieving an investment portfolio that grows a Future Fund that will provide an ongoing stream of income for the Foundation for the benefit of future generations.
For further information about The Gumala Trust (GIPL) and its role within the Foundation please visit www.gumalatrust.com
