ROY SOCIETY QLD RESEARCH FUND

1. ROY SOCIETY QLDRESEARCH FUND By Geoff Edwards President 13 June 2014 Working Draft Feedback from members on these emerging policy guidelines is invited. Volunteers to help administer the new fund are sought.

2. ROY SOC QLD RESEARCH FUND Why bother? • Australian Research Council model is broken. (Politicised, only one call per year, success rate 20% for some programs, huge preparation to find multiple partners). • CSIRO and departments’ budgets are squeezed – struggle to preserve their own core staff capacities – no discretionary funds for curiosity-led projects. • Sometimes small grants can make a big difference if overheads are covered elsewhere. • Few philanthropic trusts fund science (as distinct from medical research or environmental management).

3. Current status Bank account now open: BSB 064-000, Account no. 1378 7183 Royal Society of Qld is Trustee, 3 Councillors signatories. Not yet a “deductible gift recipient” (DGR) – deed will be sent after today to ATO for endorsement. Seeking bequests – 10% of just one average professional’s estate would set it up for immediate operation.

4. ATO conditions Conditions of gaining tax-deductibility: New fund will be a not-for-profit “public ancillary fund” (subset of DGR). Can operate only in Australia. Donors can express preferences but Trustee is not bound to comply and cannot promise this. Donors are not eligible to receive grants. Roy Soc can deduct only admin expenses plus a fee not more than 1.056% annually) (but the Society has resolved not to deduct any fees).

5. ATO conditions 2 Trustee may decide to pay out of capital or income. Trustee may appoint up to 3 distinguished Patrons. Funds may be paid only to “Eligible Entities”, which are funds, authorities or institutions that are: registered as charities and are deductible gift recipients. Funds cannot be paid to individual independent researchers. Society’s members cannot receive special benefit.

6. EMERGING POLICY GUIDELINES Following have been endorsed by the Society and Central Queensland Koala Volunteers but have no legal status and are open to change upon feedback from members: Fund can receive non-deductible donations which would be tracked and subject to fewer constraints. Fund can receive bequests and donations that will preserve the donor’s name. Normally, offered only to donors who contribute $50,000 or more. Donors are contributing to an investment strategy and not supporting specific projects or individual researchers. However, donors can express a preference for a theme, say research into groundwater or Myrtaceae.

7. Investment policy All monies will be invested in interest-bearing products with high security and conservative risk profile. No grants until credit balance exceeds $50,000. Will endeavour to preserve the capital of the Fund and disburse only the income. Aiming for a credit balance of $1 million +.

8. Grant policy Any person, community body, public authority or firm may apply except current Councillors or contractors. Fund is not a commercial consultant and will not employ its own people to conduct original research. Fund may be used to top up other grants, if the additional research will yield identifiable results of its own and will not primarily support an existing team. Grants are not to include the sponsoring Eligible Entity’s overheads - only for direct costs. (But the researcher may use a proportion for direct administrative costs e.g. transport or photocopying).

9. Subject fields of inquiry “Natural sciences” and specifically env’tl matters. “Environmental matters” is interpreted broadly; includes studies of capability, condition & trend, opportunities & threats and policy foundations. Can include socio-economic studies about env’t. Only for research conducted in Queensland, or about Queensland’s natural resources, or illuminates Queensland-specific phenomena. Trustee will perpetuate opportunities for koala-related research in central Queensland. E.g. by issuing two parallel calls for applications: one for koala-related research and one for general projects.

10. Not for … • Grants will not be used primarily for policy analysis but can support projects generating scientific insights that might inform policy. • Grants will not be used for environmental activist campaigns, opposition to development projects or other forms of advocacy, although reports may include recommendations for advocacy or policy. • Not for medical research or agricultural production research.

11. Selection criteria • Applicant understands scientific method and the principles of independent, evidence-based intellectual inquiry. Must enjoy academic freedom – no pressure from donors. • Project will shed light on an issue of material concern in the management of natural resources/environment. • Applicant has access to and/or will be overseen by experienced scientist or mentor. • Project will yield a result publishable in a peer-reviewed journal, with the Proceedings being the benchmark. • Researcher has the logistical capacity to complete the project on time and within budget.

12. Procedures • Not fewer than two invitations to apply per year. • Reviewed by an Assessment Panel of independent , qualified individuals. No assessor or their work group will be eligible to receive a grant.* * Volunteers sought! • Recommendations approved by Society’s Council as Trustee. ends