IBN Corporation

Annual Report2011 - 2012

IBN Corporation

2011 - 2012 ANNuAl REPORT CONTENTs

IBN CORPORATION PTY lTDAs Trustee for IBN FOUNDATION 2 – FINANCIAL ASSISTANCE TRUST ABN 99 081 108 949

IBN CORPORATION PTY lTDAs Trustee for IBN CHARITABLE ASSISTANCE TRUST ABN 71 519 343 254

Our Vision and Our Mission 3

Structure, Governance

and Management4

Key Achievements 8

Chairperson’s Report 10

Chief Executive Officer’s Report 14

Our People - Our Projects 18

Summary of Financial Position 22

Financial Statements

and Audit Opinion24

Our MissionOur mission is to provide a bridge to new opportunities for our Beneficiaries through personal and financial support delivered with efficiency, integrity and compassion

Our VisionHealth, happiness and prosperity for the IBN Community

IBN Corporation was established in 2001 as the Trustee for Trusts established under the Mining Area C (MAC) Agreement between the MAC Joint Venturers (and BHP Billiton Pty Ltd as Manager) and the then IBN Claim Group. Two Trusts have been established under the MAC Agreement, IBN is responsible for administering the Trusts in accordance with the Trust Deeds.

IBN Corporation is owned by the Banyjima, Milyuranpa Banyjima, Minadhu and Nyiyaparli Aboriginal Corporations.

IBN provides programs and services that to improve the health, education and prosperity of our Beneficiaries, the Yinhawangka, Banyjima¹ and Nyiyaparli people.

The traditional lands of the IBN people are in the high country of North Western Australia. Our head office is located in Port Hedland, Western Australia approximately 350 kilometres north-west of the Mining Area C Project. IBN has an office in Tom Price and plans to open another in Karratha during 2013.

The principal activities of IBN are:

• Deliver the IBN Community Programs to help meet the charitable needs of the Yinhawangka, Banyjima and Nyiyaparli people

• Provide individual assistance to Yinhawangka, Banyjima and Nyiyaparli people

• Develop and fund Projects in accordance with the Strategic Plan of the Charitable Assistance Trust

• Manage the Trust Funds

sTRuCTuRE, GOvERNANCE AND MANAGEMENT

IBN Corporation Annual Report 2011 - 2012

IBN Corporation Pty Ltd is the Trustee for two Trusts established under the MAC Agreement, the IBN Foundation No. 1, the IBN Charitable Assistance Trust (CHAT), and Foundation No. 2, the Financial Assistance Trust (FAT).

The Trusts receive income from the MAC Agreement, although all MAC Agreement payments through the 2011/12 year were made into the Charitable Assistance Trust.

Representative Corporations

IBN is owned by four Aboriginal Corporations called the Representative Corporations that play key roles under the Deeds of both Trusts.

• Nyiyaparli Aboriginal Corporation (NAC)

• Minadhu Aboriginal Corporation (MAC)

• Banyjima Aborignal Corporation (BAC)

• Milyuranpa Banyjima Aboriginal Corporation (MBAC)

These roles are to:

a) Advise the Trustee on whether someone is part of the Language Group

b) Mediate and consult between members of the Language Groups

c) Receive and advise on funding from the Trustee for the benefit of its Language Group

d) Inform their members about the activities of IBN

Nyiyaparli Aboriginal Corporation (NAC)

• Chairperson: Stephen Petersen

• secretary: Ross Norling

• Treasurer: Evelyn Kroczek

• Liaison Officer: Ross Norling

Minadhu Aboriginal Corporation (MAC)

• Chairperson: Ken Injie

• secretary: Rhonda Parker

• Liaison Officer: Joanne Brenton

Banyjima Aboriginal Corporation (BAC)

• Chairperson: Ashley Councillor

• secretary: Denise Dann

• Treasurer: Janice Derschow

• Liaison Officer: Susan Lewis

Milyuranpa Banyjima Aboriginal Corporation (MBAC)

• Chairperson: Leonard Hubert

• secretary: Rodessa Mitchell

• Treasurer: Rodessa Mitchell

• Liaison Officer: Rodessa Mitchell

The Liaison Officers are employed by the Trustee on behalf of the Corporations to help manage the affairs of the Corporations. During the year, the Trustee asked the Corporations to develop proposals to employ full-time Managers for their Corporations.

IBN's Board of Directors

The IBN Board has six Traditional Owner Directors, two elected by a General Meeting of each Representative Corporation. They are:

• Yinhawangka: Lorraine Injie and Sally-Anne Johnson

• Nyiyaparli: Peter Derschaw and Evelyn Kroczek

• Banyjima: Phillip Dhu (elected by BAC) and May Byrne (elected by MBAC)

IBN also has four Independent Directors. They are:

• Alan Scott

• John Cunningham

• Clive Senior

• Morag Lowe

See appointment dates on page 13.

¹ Except for the MIB Banyjima who have a separate

agreement with the Mining Area C Joint Venturers.

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Annual Report – IBN Corporation 2011 - 2012

Lorraine Injie Chairperson

Appointed 10/6/2004

Evelyn Kroczek Director

Nyiyaparli Appointed 14/04/2012

May Byrne Director

Milyuranpa Banyjima Aboriginal Corporation

Appointed 28/11/2009

Peter Derschaw Director

Nyiyaparli Appointed 31/5/2000

Phillip Dhu Director

Banyjima


Sally-Anne Johnson Director

Yinhawangka Appointed 22/12/2010

Alan Scott Director

Independent

Appointed 31/5/2000

John Cunningham Director

Independent Appointed 7/6/2001

Clive Senior Director


Morag Lowe Director


Steve Molloy External Accountant

Grant Bussell Chief Executive Officer

Leon Stielow Auditor


Auditors

The Myer Family Company

Trustee’s investment advisors


Investment AdvisorsExternal Accountant

IBN BOARD OF DIRECTORs



Chief Executive Officer

Communications Officer

Project Officer - Lore, Lang, Culture

Executive Assistant

Beneficiary Services Manager

Team Leader - Community

ProgramsHealth Adviser

Team Leader - Service Delivery

Senior Admin Officer

Field OfficerSenior Admin

Officer (Education)Office Co-Ord /

Field Officer

Field Officer - Education

Trainee Field Officer

Admin Officer

Admin Officer Field Officer



Reception / Admin Officer

Field Officer

Admin Officer

Assets & Operations Manager

Project Manager - Communities

Team Leader - Pinnacles Project

Senior Admin Officer

Leading Hand Property Officer

General Hands Hostel Caretaker

Trainee General Hands

Corporate Services Manager

HR Officer Senior AccountantSenior Admin

Officer (Records)

Accountant

Bookkeeper

Bookkeeper

Bookkeeper

Finance Trainee TO

Reception / Admin Officer

Admin Trainee

OrganisatiOnal structure

iBn corporation annual report 2011 - 2012

Community Programs

New Community Programs were developed during the year and support provided under the Community Programs (CP) increased significantly. In particular, support provided under the Health CP grew from almost insignificant to approximately $300,000. Support of about $500,000 was provided to the Banyjima Native Title Claim.

Crisis and Hardship: this program aims to provide short term assistance during times of emergency or hardship.

Housing: grants of up to $30,000 are available for people in housing stress.

Education: IBN provides High School Scholarships, plus assistance with school supplies, driving lessons, excursions, and computers.

Employment and Enterprise: this program helps the IBN Community start small businesses, get work ready skills and gain new qualifications.

Health: assistance is available for general health expenses, dental and specialist health programs.

lore, language and Culture: a Cultural Recording Program funds Elders and younger people, helping them to record the community’s lore, languages and culture.

KEY ACHIEvEMENTs


New programs introduced during 2010-2011 include:

• Legal Advice: This program is designed to address the lack of access to justice of many of our Beneficiaries. An initial meeting with a lawyer is funded to help a Beneficiary make a case that funding is necessary to prevent a miscarriage of justice

• Charitable Housing Grant: up to $30,000 is made available to expand the supply of housing to relieve housing stress

• Enterprise Challenge Grant: $2,000 to investigate or set up a new business

• Major Enterprise Challenge Grant: up to $20,000 to help the people of the IBN Community develop small businesses and enterprise

Field Officers

Our Field Officers team was established. Field Officers provide personal and practical support for Beneficiaries in working with government agencies, schools and the health system, including helping people to connect with drug and alcohol rehabilitation.

In 2011/12 IBN employed two full-time Field Officers in Port Hedland and one full-time and one part-time Field Officer in Tom Price.

Access IBN

Until 2010-2011 many Community Programs were inactive due to the inability of IBN to accommodate new staff due to limited office space. To address this, IBN moved into a larger office at 3 Brand Street in South Hedland in May 2011.

Increased office space has allowed IBN in employ additional Beneficiary Services Team members and Field Officers to improve service delivery to our Beneficiaries.

Work Ready Project

A pilot Maintenance Team was established during the year and new industrial premises acquired at Wedgefield.

Beneficiaries, primarily from Wakathuni and Bellary Springs, were employed in housing maintenance and landscaping activities, supported by Mulba-Gnarli, a cultural Men’s group. The team was part of the Planting our Futures Project.

High school scholarships

The Trustee set aside $6 million to support scholarships in the future. Since beginning in 2011 the highly successful High School Scholarship Program has assisted six students in 2011 and 16 students in 2012 to attend some of Perth’s most prestigious high schools.

Plans are in place to expand this program with the employment of a full-time scholarship applications officer in 2013.

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Thunurrdu!

It is a rewarding task to Chair IBN’s Board, and help to support our Yinhawangka, Banyjima and Nyiyaparli families. As Chairperson I see first-hand the dedication and hard work of my fellow Directors and our staff and their commitment to help IBN become an innovative, Beneficiary-driven corporation.

I am constantly reminded that these are challenging times. It is rewarding though to see the patience and good spirit of the IBN community who are both determined and inspirational.

The past few years have seen rapid growth of our corporation and further development of our programs and services, which we aim to continue despite our ongoing legal issues and higher levels of expectation from our membership. As you read through this, our first Annual Report, I hope you will gain a deeper understanding and appreciation of the wide range of work being undertaken by our staff and Board. IBN’s Key Achievements are just the beginning.

The new Trusts being established under Native Title Agreements are not controlled by Aboriginal people. IBN will be an example that proves the capacity of Aboriginal people to run their own affairs. We can reflect gratefully on the efforts of our Elders in helping to create IBN and leave a lasting legacy for generations to come. I am confident that we are building a corporation that will be a credit to our self-determination.

CHAIRPERsON’s REPORT


The Financial Assistance Trust

The Financial Assistance Trust (FAT) remained inactive during the year, under threat of litigation from BHP Billiton.

Risk Management in the Financial Assistance Trust

The Trustee continues to process Applications for Entry on to the Traditional Owners Register. The Trustee continues to monitor risks facing the Financial Assistance Trust.

The major risk facing the Trust, and the ability of the Trustee to distribute non-financial benefits to the Beneficiaries of the Trust, is the continuing threat of litigation from BHP Billiton.

This is complicated by the expiry of the Trust's favourable tax ruling on 30th June 2013, and uncertainty with respect to the progress of amendments to the Commonwealth Native Title Act.

This risk is being addressed by taking comprehensive legal advice from the Trustee’s lawyers, Castledine Gregory, and Senior Counsel Chris Shanahan. The risk is also being addressed by ongoing negotiations and discussions with BHP Billiton and the Yinhawangka, Banyjima and Nyiyaparli Native Title Claim Groups.

Risk relating to the Trusts Funds have been managed by employing professional Financial Advisers, and adopting a low risk Investment Policy that ensures the vast bulk of the Trust Funds are spread between the four major Australian banks in Term Deposits.

The Charitable Assistance Trust

The main activities in relation to the objectives of the Charitable Assistance Trust (CHAT) are the community programs and our field officer services. The Community Programs can help with financial expenses – if they are charitable. Field Officers can help Beneficiaries with personal and family issues that they face.

Last year we sent out a Handbook for Beneficiaries with information about these programs.

The programs are Crisis and Hardship, Health, Education, Employment and Enterprise, Lore, Language and Culture, and Housing.

In February the Board adopted a Strategic Plan that will focus on six projects:

School Ready; Work Ready; Housing; New Health Services; Lore, Language and Culture; and easier access to IBN programs and services.

2012 Review of Crisis and Hardship Program

In 2011 IBN Corporation engaged the Western Australian Council of Social Services (WACOSS) to review the effectiveness of our Crisis and Hardship Program (CHP) and the program’s ability to meet the objectives of the CHAT in the most effective way.

The findings of the review conclude that the CHP does meet the objectives of the Trust and the CHAT as long as it is administered in a way so it delivers to recipients of program who are experiencing an emergency, unusual hardship or distress.

IBN needs to ensure its policies reflect this requirement and the decision making process is properly recorded.

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Recommendations

• IBN should continue its work on the Beneficiary Handbook. The Beneficiary Handbook should however, be considered part of a more comprehensive communication strategy, which should include online, print media and face to face communications. Managing expectations should be a key aim of a communication strategy

• Staff should be kept informed of any updates on legal advice and issues in relation to how the Crisis and Hardship Program is administered

• Further development of policies and procedures are needed particularly for granting of larger payments and short-term accommodation under the Crisis and Hardship Program as well as other community programs funded by the CHAT

• IBN should investigate ways of contacting potential members who are not on the Traditional Owner register

• IBN ought to employ extra staff to enable better documentation and more support for members who access assistance regularly or who have complex needs

• Community Program staff should attend training on advocacy and referral

Main Achievements of the IBN Charitable Assistance Trust

The main activities in relation to the objectives of the CHAT are the Community Programs. These are:

1. Crisis and Hardship

2. Housing

3. Education

4. Employment and Enterprise

5. Health

6. Lore, Language and Culture

Up until 2010/2011 many of these programs were inactive due to legal issues affecting the Trustee. Growing the programs was slowed by the difficulty in finding new commercial premises accommodate new staff due to the size of the Pundulmurra Office.

The relocation of the IBN Office from Pundulmurra to Brand Street in 2011, the establishment of Work Ready programs in Tom Price and Hedland, new educational scholarship programs and the recent appointment of staff within IBN Corporation should result in an increase in activity in each program area.

We plan to expand our Tom Price office in 2013 and open an office in Karratha too.

Many of the Community Programs continue to be underutilised particularly the Cultural programs. The threat of Yinhawangka, Banyjima and Nyiyaparli cultural extinction is very real.

Risk Management in the Charitable Assistance Trust

The IBN Board continues to review the major risks to which the CHAT is exposed. The Board believes there are no immediate risks to the flow of funds into the CHAT and is confident we have good management of risk to the funds and other CHAT assets.

An important risk facing the Charitable Assistance Trust is failure to achieve meaningful progress against the Charitable Objects of the Trust. The Board is addressing this through the continuing development of new Programs and Project in accordance with the IBN Strategic Plan.

Risk relating to the Trusts Funds have been managed by employing professional Financial Advisers, and adopting a low risk Investment Policy that ensures the vast bulk of the Trust Funds are spread between the four major Australian banks in Term Deposits.

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Conclusions

Since 2009, our families and our communities have suffered some very heavy losses. The effects of these losses will stay with us for a very long time and for some us the pain of losing our dearly departed will remain with us to the end of our days.

I would like to thank my fellow Directors on the IBN Board for their unwavering support and their ongoing commitment to the work of IBN Corporation. The Board has met 30 times between the General Meeting in late 2010 and the General Meeting in September 2012.

In order to achieve best practice, the IBN Board will continue to engage professionals in the areas of financial management, human resources management and corporate governance. To date almost all of the IBN Directors have participated in professional development activities with the Australian Institute of Company Directors. We look forward to rolling out this training to the Directors of the Representative Corporations, starting in November.

Despite potential litigation by BHP Billiton Iron Ore to the Financial Assistance Trust (FAT) the IBN Board continues to make progress towards achieving the Objects of the IBN Foundation No. 1 Charitable Assistance Trust. The IBN Board will continue to work closely with the Chief Executive Officer to measure the effectiveness of the outcomes achieved and the efficiency of the services delivered by the Trustee.

Lorraine Injie

Chairperson


CHIEF ExECuTIvE OFFICER’s REPORT

Introduction

As promised at the Annual General Meeting (AGM) in September 2012, this is IBN’s first Annual Report. We are committed to keeping our Beneficiaries informed about our activities and the work we do to support the IBN Community.

The Charitable Assistance Trust operations continue to grow rapidly. We have moved into, and already extended, our new offices in Brand Street, South Hedland. We have also acquired a new office in Tom Price and will move in early 2013. Both offices will provide improved services and space for our Beneficiaries.

Filling some of this space, will be Yinhawangka, Banyjima and Nyiyaparli people. The IBN Board has made it very clear to me that they want more Traditional Owners (TO) working for IBN, and I do too. We have set a target of 51 per cent Aboriginal employment, with first priority going to Yinhawangka, Banyjima and Nyiyaparli people. At June 2012, we had six permanent and eight casual IBN Aboriginal employees.

We have a good team who work hard and make IBN a great place to work. We have also made some changes to our employment practices to ensure Traditional Owners get every chance to apply for IBN positions.

We won’t be employing anyone unless the job has been advertised in our newsletter, so keep an eye out there. And of course, if we have your number, we’ll send an SMS when a job comes up. If you’re interested in working


for us, talk to one of our Field Officers, or our Human Resources Officer, Jessie Hudson.

With this growth, a new organisational structure has been created with managers appointed for three new divisions.

Our new Corporate Services Manager is Kathi Fowler. Kathi looks after finance, staffing and our offices.

Chris Duirs is our new Assets and Operations Manager. He is responsible for our building projects. Our highest priority at the moment is housing for Beneficiaries, and a new office in Karratha. Chris will also be responsible for our Work Ready project.

Our new Beneficiary Services Manager is Ian Williamson. Ian will be looking after all of our Community Programs, as well as our Strategic Plan projects: Housing; School Ready; Work Ready; Health; Lore, Language and Culture; and Access to IBN.

strategic Plan

Housing is our first Strategic Plan project. In addition to expansion of the Community Programs mentioned earlier, to help reduce housing hardship for our Beneficiaries we are building houses for social housing and affordable housing. We continue to face difficulties in acquiring land in Port Hedland, but are working our way through these problems.

School Ready is our second Strategic project. Our playgroup in Tom Price started two days a week during the year.

Work Ready is our third project. We started with a trial project involving our Maintenance Team early last year, in Port Hedland. It faced major issues, and we learnt a lot. During the year we acquired an industrial property in Wedgefield and started work on the business plan for the full scale project, which we expect to start early in 2013.

IBN has adopted a different approach up in Wakathuni and Bellary Springs, where our Project Manager Cecilia Fernandez has been much more successful.

Abel Dickerson, Wade Lyndon, Aquinas Gilba, Harold James and Tyrone Cooke have been working for us up there, reminding me just how effective we can be when we turn to our own Beneficiaries to help us get to where we want to go.

Our fourth project involves new Health Services Projects. Health remains a top priority for the Charitable Assistance Trust. Our Field Officers continue to deliver IBN health workshops across the Pilbara. I hope you find these workshops useful, and as always we’re keen to listen to your suggestions about new topics.

NuYu is the first new initiative we’ve rolled out under the new Health Services Project. The idea for this came from Warren Injie, who was the ‘guinea pig’ for this project. After seeing his success, the Board approved 25 Beneficiaries to join the program. As our Chairperson Lorraine Injie said a couple of years ago, “there’s nothing more important than health”. It is the most advanced of our Strategic Projects.

Lore, Language and Culture is our fifth project. I would like to acknowledge the Marlpa Gnarli Men’s Group up in Tom Price who led this initiative in their communities. They are demonstrating the strength that Aboriginal people bring from the past to create a path forward.

I also acknowledge the good work being done by some of our Elders in recording traditional languages. Kathleen Hubert published a book called Ngaliguru Jarndarugu Ngarlagu. We’re distributing all of the language books to our Beneficiaries in each Language Group.

The sixth goal of our Strategic Plan is called Access to IBN. In addition to our Port Hedland and Tom Price offices, we plan to have a new IBN office in Karratha to give Beneficiaries easier access to our programs and services.

We will also have at least one Field Officer in each location, and extend our employment opportunities outside Port Hedland and Tom Price.

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Community Programs

IBN Community Programs help our Beneficiaries pay for different sorts of bills. In August 2012, IBN hit a record number of applications – 565 for the month. That’s grown significantly and will continue to do so.

During 2011 and 2012 we introduced three new programs: Legal Aid, Housing, and Enterprise. The Housing program has had limited success, and is currently under review to make sure it can provide the most benefit in the current Pilbara housing crisis. We have three housing projects under way, all in South Hedland at the moment.

As part of the new Enterprise program we are working closely with Many Rivers Opportunities. Many Rivers helps small business to get started and currently have eight IBN clients. This program has some constraints as IBN can only offer support from the Charitable Assistance Trust.

IBN made our first grant under the Enterprise program in 2011, to assist a Beneficiary set up a trucking business.

The Legal Aid program has been popular, and we have helped many people to achieve some great outcomes. The program offers a couple of hours with a lawyer to help people fill out the application form. You need to show that there’s a possible miscarriage of justice and your case has some legal merit. We also made a major grant in 2011/12 to assist our Banyjima Beneficiaries progress their Native Title claim.

Our first High School Scholarships were awarded in 2011/12 and the program has been very successful. During the year we awarded scholarships to 17 young Yinhawangka, Banyjima and Nyiyaparli people so they can attend some of the best private schools in Western Australia. The program is available to all of our Beneficiaries and allows IBN people to give their kids a great education and the best possible start in life.

service Delivery

Our Field Officers’ team was introduced during the year, a new and very important part of our structure. While our Community Programs can help you pay bills, our Field Officers can help you in more practical ways. For example, they can help with Scholarship enrolments and other school paperwork and help you navigate health, Centrelink and Homeswest services and so on.

David Fernandez and Joogari Drummond in Tom Price, and Christina Giannaros and Michelle Holthouse in Hedland were our Field Officers in 2011/12. Joogari specialises in helping IBN families with their kids in school. Education is a really important way to work towards our vision – a healthy, happy and prosperous community.

Financial Assistance Trust (FAT)

Much of 2010/11 was spent negotiating with BHP Billiton (BHPB).

In September 2011, BHPB made a presentation to IBN’s Board and the Nyiyaparli Claim Group. They suggested that Beneficiaries were not satisfied with the structure and management of the IBN MAC Trusts, and proposed they be replaced with Benefits Management Structures.

The Trustee opposed this because the proposed structures would remove control of the Trust funds from Traditional Owners.

A substantial part of the year was spent negotiating with BHPB over a joint presentation to consult with Beneficiaries about whether the IBN Trust Funds should be replaced with claim group-based Benefits Management Structures. Consultations with Beneficiaries in all major IBN towns were held in December.

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Separately, the Trustee continued negotiations with the Nyiyaparli Native Title Claim Group. This process was complicated by the fact that not all of the Nyiyaparli Applicants are IBN Beneficiaries, and did not want to become IBN Beneficiaries. Authorisation of the Yinhawangka and Nyiyaparli Claims remained the central strategy of the Trustee, which is committed to ensuring that all of existing Beneficiaries of the Trusts continue to be Beneficiaries.

In the meantime, the Trustee has agreed with BHPB that it will not make distributions from the Financial Assistance Trust (FAT). The only activity in the financial statements of the FAT relates to the overhead costs that the Charitable Assistance Trust charges the FAT, and expenditure and income relating to the FAT’s major property asset, a 50 per cent share in our head office building at 3 Brand Street, South Hedland.

The Trustee continues to maintain the Traditional Owners Register for the FAT, and works closely with the Representative Corporations to do so.

Communications initiatives

Our new Communications Officer, Shannon Wilson, has put this report together for us. Shannon will be making some changes to our newsletter, IBN Wangka, and has started work on our new website. Shannon’s always on the lookout for stories for Wangka, please feel free to contact her if you’ve got ideas for stories or how to improve the newsletter.

looking Forward

Next year will see a significant increase in IBN’s staff numbers, which have risen from nine in June 2010, 13 in June 2011 and 19 at the end of this financial year. There was only limited expenditure on the Strategic Plan Projects in 2011/12, and in 2012/13 we will start to see more tangible roll out of these Projects.

We also expect to introduce new Community Programs within the Charitable Assistance Trust for Housing and Tertiary Education.

Following this our first annual report, we will continue to maintain our commitment to transparency and communication with our Beneficiaries. The IBN Community should expect and receive the highest standards in all our subsequent reports.

I would like to extend my thanks to our IBN staff. Our offices are often chaotic, and always busy. Doing business in the Pilbara is not easy and they work hard to deliver the best service they can.

And thank you to our Beneficiaries, many of whom face difficulties and yet continue to show us patience and understanding.

Grant Bussell

Chief Executive Officer

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Beasley James, IBN work crew

Cecilia Fernandez, Project Manager, Communities, at the vege garden in Wakathuni

Opening of the new IBN office in South Hedland

Tracey Ingie and her baby with her artwork for an exhibition in Tom Price

Youngaleena educational exchange experience

IBN Kids Day at Lions Park in Tom Price

IBN kid's activities Program

IBN Play group in Tom Price

Leroy Franklin and Caitlin Galby, Service Delivery Administration Officer at IBN's South Hedland Office

Grant Bussell, CEO, at the AGM

Brandy Wheelock, IBN Beneficiary

OuR PEOPlE – OuR PROjECTs


Kimika Tucker with Cecilia Fernandez one of 40 IBN people Cecilia helped to get their licence

Dulcie Condon, Yinhawangka Elder at home in Bellary Springs

Best photo award for a cold day in Wakathuni

Cecilia with children at IBN after school care

David Fernandez, Field Officer, Tom Price

Eileen James with sons Harold and Beasley and granddaughter Belinda, all three work for IBN

Tadge and Tania with her new car from IBN

Shannon Wilson, IBN Communications Officer, with baby Costa in Wakathuni

Tasma Cox and Brock Tittums

Ronald Chubby with his L plates at Bellary

Shakira Planting our Future Project in Wakathuni

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Hilda Flann, Nyiyaparli ElderDavid Stock, Nyiyaparli ElderSusie Yuline, Nyiyaparli Elder

Women Warriors Christmas party

Planting our Future Project Wakathuni

Abel Dickenson, Leading Hand, IBN work crew

Alex Tucker speaks at the AGM

Sandra Black and Charleston Stream at the AGM

Leroy Franklin, IBN Beneficiary

OuR PEOPlE – OuR PROjECTs


Kalisha Martin and Shanisha Yuline

Nu Yu Program participants hit the water

IBN kids in Parabadoo enjoy Easter festivities

Jesse Dann, IBN Reception

Thi and Dorothy James tend to the Wakathuni vege garden

Dianne Smith, IBN Beneficiary with Cecilia Fernandez

Nu Yu Total Health Program participants get fit!

Disco night for kids from Youngaleena, Wakathuni and Bellary

Peter Derschaw, Director, Nyiyaparli, at the AGM

David Stock speaks at the AGM

Michelle Holthouse, IBN Field Officer and Sharmaine Dhu, IBN Community Programs

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suMMARY OF FINANCIAl POsITION

The following charts provide a summary of the organisations’ financial position.

MAC Payments to date and Net Assets

This graph shows the total amount of MAC payments received to date from BHP Billiton in green and the net assets of both Trusts together in red.

This graph does not include income from MAC but shows income from our investments and also from the fees the CHAT charges to the FAT. The fall in income is because IBN changed the way fees are calculated that CHAT charges FAT. Expenses have been going up a lot because we are growing and we are distributing more money to our Beneficiaries.

This chart shows the assets of the CHAT. The future fund is money set aside for future generations. Project finance is for our strategic projects. The Scholarships Fund is for high school scholarships. Land and Buildings is our office, housing and industrial properties. The Reactive Buffer is for unexpected emergencies, and cash is money we expect to use in the near future.

CHAT Major Assets

CHAT Income and Expenses


PG 22

This shows how our staff numbers have grown quickly.

Staffing

This shows where we spend our money. The first circle shows all the money we spend. The second circle shows how we spend the Community Programs money.

Major CHAT Expenses

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IBN CORPORATION PTY lTD

As Trustee for IBN CHARITABLE ASSISTANCE TRUST ABN 71 519 343 254

FINANCIAl sTATEMENTs FOR THE YEAR ENDED 30 juNE 2012

Contents Page

Statement of Comprehensive Income 25

Statement of Financial Position 26

Statement of Changes in Equity Trust Funds 27

Statement of Cash Flows 28

Notes to the Financial Statements 29

Directors' Declaration 53

Financial Audit Opinion 54


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IBN CORPORATION PTY lTD

As Trustee for IBN FOUNDATION 2 – FINANCIAL ASSISTANCE TRUST ABN 99 081 108 949

FINANCIAl sTATEMENTs FOR THE YEAR ENDED 30 juNE 2012

Contents Page

Statement of Comprehensive Income 57

Statement of Financial Position 58

Statement of Changes in Equity Trust Funds 59

Statement of Cash Flows 60

Notes to the Financial Statements 61

Directors' Declaration 82

Financial Audit Opinion 83


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Port Hedland Head Office

3 Brand street, south Hedland WA 6722PO Box 2390, south Hedland WA 6722

9140 0900 9172 1136

[email protected]

FREE CAll 1800 014 401

Tom Price Office

Corner of stadium Road and Central Road, Tom Price WA 6751

PO Box 592, Tom Price WA 6751

9189 3706 9189 3717

IBN Corporation

Documents

Transcript of IBN Corporation