Our financials « Charlie Teo Foundation

*These financials were last updated at quarter end and may be subject to change following end of financial year audit.

Charlie Teo Foundation has raised over $10 million in less than two years of operating, which is an incredible achievement thanks to our wonderful supporters.

The Foundation has two key points of distinction. Firstly, we are committed to running lean. Our admin costs are 10% of total income and our fundraising costs 8%. Charity Reserves are important and are invested responsibly to ensure sustainability of the Charlie Teo Foundation.

Secondly, we are funding research differently, looking for scientists and projects that are outside of the box. Our Brain Cancer Research figures show our donors what has been distributed to (or spent on) research projects, and importantly what amounts have been committed to research projects (but not yet spent). We fund based on milestones, encouraging the scientific publication of both successes and failures. The Foundation is excited to announce new projects in the pipeline across FY20.

Highlights of the year

Charlie Teo Foundation Brain Tumour Bank is now open! Dr Teo has been collecting specimens with the consent of his patients for the last 10 years. Human research ethical approval has been obtained to consolidate these into one, open-access resource for researchers – the largest of its kind in the southern hemisphere!

Charlie Teo Foundation awarded the first ever Alegra’s Army Grant into childhood brain cancer to researcher Dr Matt Dun from the University of Newcastle. The award of $326,000 is for research into better immune-based treatments for children with DIPG.

* Charlie Teo Foundation changed its operating structure from a trust to a company. In FY19 assets from the trust were distributed to the company prior to the trust being wound-up and voluntarily revoked as shown on the ACNC register. The FY19 audited financial report shows such distribution from the trust to the company as income, in accordance with accounting standards. We encourage you to refer to the above graph, which reflects our financial performance in FY19 as though there was no change to our operating structure. In line with our value of openness, we feel this gives our donors a better picture of our actual performance.

Being a new charity, the Charlie Teo Foundation focused in FY19 on responsibly building up charity reserves for distribution to research, formulating a fundraising and disruptive brain cancer research strategy underpinned by a low-cost model and exploring alternative or atypical researchers and projects for funding. We raised over $5.4 million in income – a total of $9.3 million in less than 2 years of launching the Charlie Teo Foundation.

Charity reserves were invested responsibly to ensure sustainability of the Charlie Teo Foundation. Funds will be committed to brain cancer research in FY20 in accordance with our research strategy.

Highlights of the year

Our multi-year partnership with the Audi Foundation represents a significant investment in brain cancer research. As a leading Australian medical research organisation, we were chosen as a charity beneficiary of the Hearts & Minds Investments (HM1). HM1 will be a growing and sustainable source of funding to the Charlie Teo Foundation and medical research in Australia for years to come. Our partnership with the Australian Hairdressing Council and the Journal Mag saw some fabulous community engagement Australia-wide with the Charlie’s Angels campaign.

It recommended and the Board approved our disruptive research strategy and funded a research project to complete some important work to understand how one pathway disrupts the immune system and contributes to brain cancer aggressiveness.

The Rebel Ball raised a phenomenal $1.1 million after costs for brain cancer research. On the night we also officially announced a world-first, large scale study into GBM brain tumours in collaboration with the Garvan Institute of Medical Research. Our gala dinners in Brisbane and Melbourne were inspiring nights and we're so grateful to all of our community Australia-wide.

We had a great time participating in City2Surf with our team raising over $75,000! Our first ever Christmas with Charlie event saw us raise over $180,000, an event run at ZERO costs thanks to the support of our wonderful community.

Charlie Teo Foundation opened its door in late 2017 in office space provided rent-free by our incredible partner, Industrie Clothing. With a small team and dedicated volunteers, we began our journey of raising much-needed funds for brain cancer research. We held our official launch on 1 March 2018, attended by Gina Rinehart and Dr Charlie Teo’s network of exceptional supporters.

We raised close to $4 million in FY18, which is simply incredible. Our commitment to our low-cost strategy saw us end the year with our costs being 15% of this total income. Establishing good governance, an appropriate structure and appointing directors, small team of staff and wider team of volunteers and pro bono supporters was of key focus this year.

Highlights of the year

Our first major fundraising event supported by Doltone House was an incredible success.

We were incredibly touched to receive a $1 million bequest within 6 months of opening our doors. Soon after we made our first research distribution in April 2018 towards personalising the treatment plan for brain cancer patients.

*These financials were last updated at quarter end and may be subject to change following end of financial year audit.

Charlie Teo Foundation has raised over $10 million in less than two years of operating, which is an incredible achievement thanks to our wonderful supporters.

The Foundation has two key points of distinction. Firstly, we are committed to running lean. Our admin costs are 10% of total income and our fundraising costs 8%. Charity Reserves are important and are invested responsibly to ensure sustainability of the Charlie Teo Foundation.

Secondly, we are funding research differently, looking for scientists and projects that are outside of the box. Our Brain Cancer Research figures show our donors what has been distributed to (or spent on) research projects, and importantly what amounts have been committed to research projects (but not yet spent). We fund based on milestones, encouraging the scientific publication of both successes and failures. The Foundation is excited to announce new projects in the pipeline across FY20.

Highlights of the year

Charlie Teo Foundation Brain Tumour Bank is now open! Dr Teo has been collecting specimens with the consent of his patients for the last 10 years. Human research ethical approval has been obtained to consolidate these into one, open-access resource for researchers – the largest of its kind in the southern hemisphere!

Charlie Teo Foundation awarded the first ever Alegra’s Army Grant into childhood brain cancer to researcher Dr Matt Dun from the University of Newcastle. The award of $326,000 is for research into better immune-based treatments for children with DIPG.

* Charlie Teo Foundation changed its operating structure from a trust to a company. In FY19 assets from the trust were distributed to the company prior to the trust being wound-up and voluntarily revoked as shown on the ACNC register. The FY19 audited financial report shows such distribution from the trust to the company as income, in accordance with accounting standards. We encourage you to refer to the above graph, which reflects our financial performance in FY19 as though there was no change to our operating structure. In line with our value of openness, we feel this gives our donors a better picture of our actual performance.

Being a new charity, the Charlie Teo Foundation focused in FY19 on responsibly building up charity reserves for distribution to research, formulating a fundraising and disruptive brain cancer research strategy underpinned by a low-cost model and exploring alternative or atypical researchers and projects for funding. We raised over $5.4 million in income – a total of $9.3 million in less than 2 years of launching the Charlie Teo Foundation.

Charity reserves were invested responsibly to ensure sustainability of the Charlie Teo Foundation. Funds will be committed to brain cancer research in FY20 in accordance with our research strategy.

Highlights of the year

Our multi-year partnership with the Audi Foundation represents a significant investment in brain cancer research. As a leading Australian medical research organisation, we were chosen as a charity beneficiary of the Hearts & Minds Investments (HM1). HM1 will be a growing and sustainable source of funding to the Charlie Teo Foundation and medical research in Australia for years to come. Our partnership with the Australian Hairdressing Council and the Journal Mag saw some fabulous community engagement Australia-wide with the Charlie’s Angels campaign.

It recommended and the Board approved our disruptive research strategy and funded a research project to complete some important work to understand how one pathway disrupts the immune system and contributes to brain cancer aggressiveness.

The Rebel Ball raised a phenomenal $1.1 million after costs for brain cancer research. On the night we also officially announced a world-first, large scale study into GBM brain tumours in collaboration with the Garvan Institute of Medical Research. Our gala dinners in Brisbane and Melbourne were inspiring nights and we're so grateful to all of our community Australia-wide.

We had a great time participating in City2Surf with our team raising over $75,000! Our first ever Christmas with Charlie event saw us raise over $180,000, an event run at ZERO costs thanks to the support of our wonderful community.

Charlie Teo Foundation opened its door in late 2017 in office space provided rent-free by our incredible partner, Industrie Clothing. With a small team and dedicated volunteers, we began our journey of raising much-needed funds for brain cancer research. We held our official launch on 1 March 2018, attended by Gina Rinehart and Dr Charlie Teo’s network of exceptional supporters.

We raised close to $4 million in FY18, which is simply incredible. Our commitment to our low-cost strategy saw us end the year with our costs being 15% of this total income. Establishing good governance, an appropriate structure and appointing directors, small team of staff and wider team of volunteers and pro bono supporters was of key focus this year.

Highlights of the year

Our first major fundraising event supported by Doltone House was an incredible success.

We were incredibly touched to receive a $1 million bequest within 6 months of opening our doors. Soon after we made our first research distribution in April 2018 towards personalising the treatment plan for brain cancer patients.