Australian Businessman, Crown Resorts Establish AU$200 Million Fund

The Crown Resorts Foundation has announced a commitment totaling AU$200 million (approximately $187.8 million) over ten years to create a National Philanthropic Fund in support of Australian charities.

The commitment, which includes $100 million from the Packer Family Foundation and $100 million from the Crown Resorts Foundation, will establish the largest corporate philanthropic fund in Australia, the Daily Telegraph reports. The fund will include a National Arts Fund that provides $100 million in support of arts organizations in the country, including a AU$60 million commitment announced by the Packer family last year, and a Community Partnerships and Indigenous Education Fund that will award $100 million to non-arts organizations, with particular emphasis on indigenous education. According to the Telegraph, the first award made by the fund was $200,000 in support of literacy programs for Aboriginal children in Darwin.

The fund will be administered jointly by the Crown Resorts Foundation board, which is chaired by former government minister Helen Coonan, and the Packer Family Foundation, which is chaired by Gretel Packer, whose brother James is chair of Crown Resorts. Other members of the boards include Australian advertising executive Harold Mitchell, former Sydney mayor Lucy Turnbull, and Rosalyn Packer, mother of James and Gretel.

"Today's announcement commits us to another decade of financial support for organizations which work tirelessly to deliver services, assistance, and opportunities for people from disadvantaged backgrounds," said James Packer. "I would like to congratulate and thank my sister Gretel for being the driving force behind the establishment of this fund."