Future Generation (ASX:FGX)
has announced it will donate a total of $4.71 million to children and youth charities through its two wealth creation vehicles.
$2.42 million will go towards Australian charities focused on children and youth mental health, while an additional $2.29 million will go to charities focused on children and youth at risk.
A total of 22 charities will benefit from the donations.
CEO Louise Walsh has indicated the fund’s vision is to become the second biggest private sector funder in the Australian non-profit sector after the Paul Ramsay Foundation.
Future Generation Investment Company Limited reported a net profit of $4.53 million at 31 December 2015.