In March 2020, members of the Finance & Risk Committee, and the People & Culture Committee formed the COVID-19 Working Group.

From March until June 2020, the Working Group met weekly, and continues to meet fortnightly to promptly respond to the rapidly evolving impacts of COVID-19 on the Foundation, including employment obligations, implementation of OHS protocols, and financial review. Now, the Committee meets in response to organisational needs.

Minus18 is a company limited by guarantee (CLG) incorporated under the Corporations Act 2001, a charity registered with the ACNC, and a Public Benevolent Institution endorsed as a Deductible Gift Recipient by the ATO.

In July 2018, following six months of preparation and with the assistance of a pro bono legal team, Minus18 transitioned from an incorporated association to a CLG. We made the switch to reflect Minus18’s significant growth in revenue and reach, and enable us to expand nationally. Minus18 has adopted a new constitution and commenced its new compliance obligations, including annual reporting to ASIC. Minus18 Foundation Ltd held its first AGM as a CLG in November 2019.

Directors receive no remuneration for their services (with the exception of the Chair, who receives a modest honorarium to recognise the additional expenses incurred through the role) and are appointed for a two-year term. The CEO also sits on the Board, and is delegated operational authority through the Board’s delegations framework.

The appointment and induction process for Directors is overseen by the Secretary and Chair. The Board selects Directors by majority vote, based on skills, expertise, and lived experience at diverse intersections of the LGBTQIA+ community.

The Board has delegated additional controls and responsibilities to three Sub-Committees. The Sub-Committees make recommendations to the Board to enable informed decision-making. Each Committee has a Terms of Reference approved by the Board, and is presided over by a Committee Lead.

Certain Sub-Committees have appointed Expert Advisors. These are external volunteer non-director roles that provide guidance and build capacity of the Foundation.

• Finance & Risk Committee
• People & Culture Committee
• Access & Inclusion Committee

Minus18 has several interconnected layers of financial management that have enabled us to harness significant financial growth:

• Minus18’s Treasurer is a qualified Chartered Accountant with several years experience in the role. The Treasurer provides monthly financial reports to the Board for review and discussion.
• The annual budget for Minus18 is prepared by the CEO and Finance & Risk Committee, and reviewed twice a year. The budget is scrutinised and approved by the Board. In light of COVID-19, frequent reforecasts and alternate budgets have been prepared, discussed and approved by the Board.
• Minus18 engages a qualified bookkeeper, responsible for finance administration and payroll. The bookkeeper is highly responsive to requests for information from the Board and management.
• The Board, on the recommendation of the Finance & Risk Committee, has invested some of Minus18’s cash reserve with U Ethical. This investment provides higher returns than storing the reserve in our bank accounts, and the funds remain easily accessible on demand by the Board.

The Board (led by the Finance & Risk Committee) oversees the establishment, implementation and annual review of Minus18’s risk management system. The Board identifies key risks and implements mitigation strategies via a Risk Register which is reviewed quarterly.

In addition to the Expert Advisors appointed to assist the Board’s Sub-Committees, the Board has access to independent advice on the following matters:

• Investments - the Board has engaged U Ethical to advise on and manage Minus18’s ethical investment portfolio. The Board has approved risk and return parameters for the portfolio.
• Legal - the Board has engaged Clayton Utz to provide ongoing ad hoc pro bono legal advice.
• Payroll and finance - the Board has engaged Cloud Business Consulting & Bookkeeping Pty Ltd, registered Company BAS Agents, to provide payroll and bookkeeping services.

Access our Whistleblower Policy below.