During the year, the Foundation also furthered its commitment to both Queensland's Griffith University and Victoria's Gordon Institute and established a new scholarship program for Philanthropy and Non-Profit students at the Queensland University of Technology.

Total distribution for 2011-12 was $888,750, our largest disbursement of grants to date and one which brings our total since establishment to well over $8.5 million.

In addition to the commitments mentioned above, we were pleased to formalise GAF's Earthwatch student education program. Since 2007, the Foundation has provided grants to Earthwatch's Student Challenge, which gives high school students an opportunity to participate in real science field research projects. From the moment the first student reports came in, we knew this was a special program, and in August 2011, the Board of Governors agreed to provide a further commitment of $150,000 over three years. Ensuring the widest possible number of students can continue to participate in this outstanding program is something we're sure George Alexander would approve of.

As our student honour roll continues to expand with bright young Australians, we look forward to sharing in their stories and helping foster their determination, talent and drive to succeed.