The Ethan Reynolds Foundation Inc (TERF) is an Incorporated Association registered with Consumer Affairs Victoria. We are fully accredited and registered with the commonwealth charity regulator – The Australian Charities and Not-for-profits Commission (ACNC). The Australian Taxation Office has also endorsed TERF for income-tax exemption, GST and Fringe benefit tax rebate as a charitable entity.
TERF’s board complies with the Australian NFP principles of Good Corporate Governance and best practice recommendations. The board and the management team are committed to the highest level of ethics in the management and governance of TERF. We ensure full transparency and accountability at all times and compliance with TERF’s Code of Conduct and Values.
TERF’s board is comprised of at least 6 directors and no more than 12 at any one time. All directors and management team have professional full time jobs and volunteer their time to TERF. The committee are the trustees of the funds collected and donated. The members of the board have been chosen carefully to make sure that the board has a strong skill set and balanced portfolio.
The board meets bi-monthly. TERF’s constitution was designed to conduct an annual general meeting and the board members are re-elected each year. In accordance with these principles, the board has adopted a formal charter incorporating their responsibilities which include to:
1. Approve and review the strategic direction and plans of the organisation.
2. Monitor the performance of the executive team in accordance with the strategic business plan and performance goals.
3. Review the structure, charter and composition of the Board and sub-committees, and review outcomes of Board Committees.
4. Identify operational risks, and approve controls to manage risks and monitor compliance.
5. Confirm the appointment of auditors, review the audit process and audit reports and approve annual forecasts and budgets.
6. Determine and approve the level of authority to be granted to the executives.
7. Carefully scrutinise and approve major operating expenditure.
8. Approve and review the executive team’s performance targets.