The Unsworth family have marked a milestone of $1 million in gifts to charity – but they still have more in their Foundation than when they started. 

Celebrating $1 million in gifts, 10 years in operation and the appointment of a new Chair, it’s been a season of milestones for the Unsworth family. Since establishing the Unsworth Foundation with $2 million in 2014, the Foundation has grown and given away more than $1 million for charity, while simultaneously increasing its balance to more than $2.4 million through tax-free investment returns.

The family are part of a growing community turning to structured giving, a model that allows donors to generously support causes while growing philanthropic capital for the community. One day they hope to give $10 million.

A family endeavour

It began with a conversation in 2013. Rodney Unsworth had received a lump sum when the company that employed him was sold. With a desire to give back to the local community, his financial adviser suggested establishing a private ancillary fund (also known as a PAF) as a tax-effective and efficient way to support charities. Together with his wife, Darrall, and their three adult children, the family established the Unsworth Foundation with the support of APS the following year.

“It really excited us,” says Rod, the founding Chair. “We had a family meeting and shared our values around the vision we had for the investment. Everyone was on board and we haven’t looked back since.”

The Unsworth family now has three generations involved in the Foundation, aged from 16-80. Having been a driving force since the beginning, Jessica Rankin took up the role of Chairperson in early 2024, in a planned succession from her father.

More than money

The Unsworths have supported a range of charities over the decade, from a local crisis shelter to rare disease research, and support for the hearing impaired.

“We started off very unsure of where to start, so we began with things that had a personal meaning to us and causes that were close to home,” recalls Jessica. “Our Mum is deaf in one ear, so we aligned with the Royal Institute for Deaf and Blind Children (RIDBC), as well as The Brain Cancer Group after my husband experienced a brain tumour. When a friend of mine had a child with a very rare disease, we looked at helping fund research.”

The Foundation is also a long-term supporter of the Coast Shelter, which provides services and support to victims of domestic violence on the NSW Central Coast. In recent years, they have also focused on the environment and sustainability, supporting the Foundation for Rural and Regional Renewal (FRRR) and Good 360.

The family works together to identify organisations and make final grant decisions in a formal Board setting. Darrall Unsworth says the family has grown and refined their charity engagement and decision-making process along the way. “Now we’ve had a variety of experiences with organisations and partnerships, we find we are taking a more strategic approach, broadening our vision. We try to have direct discussions with charities, find out what they need, and identify where we can fund a tangible project.”

With an approach that goes beyond financial support, the family also consistently engages with the organisations they give to, maintaining a relationship with charities beyond the grantmaking process. The directors personally visit organisations they have donated to and keep the lines of communication open to foster ongoing relationships.

“We find it helpful to follow up on projects that we fund, to see that the money has gone towards real progress and results.”

Over the last 10 years, they have also held Christmas toy drives, met with recipients and attended fundraising events. “It’s a lovely feeling to be able to be involved in charitable work,” adds Jessica. “It almost feels a little bit selfish because you feel so great. I think we get as much out of it as the charity does.”

A professional team

Rod says the family’s milestone of $1 million donated and the positive investment returns are a credit to the professional advisers supporting the Foundation. Continued growth is crucial to achieving the vision of the Foundation. “The bigger picture is that organisations have ongoing needs, and we want to be there to help for the long term. Over the years, we’re hoping that we’ll be giving away perhaps $10 million.”

“All of the wealth creation inside the Foundation is being built up to donate to organisations that are in need. We don’t spend any money on administration apart from ASIC, governance requirements such as yearly auditing and the minor fee to APS.”

Their advisers include long-time friend and the Foundation’s ‘Responsible Person’, Rohan Abayasekara, Financial Adviser Virginnia Hottes and Investment Manager Scott Glover. The three have provided advice and support since day one. “We trust our financial advisers and our investment providers infinitely. But we also make sure to get involved in talking about strategies to maximise the investment.”

“The advisers feel as personally engaged and involved as everyone else. We know they’ve got our best interests and the interests of our charity recipients at heart.”

Looking to the future

Coming from an executive background, Rod sees the value in passing these skills to his children and grandchildren through their participation in the PAF. “We hope the grandchildren will also pick up a sound understanding of corporate life through structured meetings, reporting, understanding financial commitments, understanding the obligations and governance that goes with that structure,” he says.

“It gives you a great sense of involvement and community, but it is also a big personal responsibility,” says Jessica. “We need to consider carefully how we give, as well as how we manage the Foundation, so that it does stand the test of time and follows through for generations to come.”

Beyond a tax strategy and investment project, the Unsworths see structured giving as an important catalyst for good. “It’s done such a beautiful thing for our family. It brings you closer to each other and it brings you closer to communities. It’s just wonderful.”

“If you’re in a place to give and are looking into it, then you already have the values you need to get started.”