A Closer Look at PAFs Established in 2020: Part 2


Last April, as the charity sector started to feel the impact of the COVID-19 pandemic on services and fundraising, JBWere released ‘Where to from here? The outlook for philanthropy during COVID-19‘. The report used past trends to estimate the effect of a global health and economic crisis across the main types of philanthropy in Australia, including Private Ancillary Funds (PAFs):  

One of the effects of COVID-19’s economic impact is likely to be the rate of establishment of new PAFs which may slow considerably in 2020 and 2021.

AskRIGHT conducted research into every identified PAF that was established in 2020 and, while it may be too soon to understand the full impact of COVID-19 on existing PAFs, the available data for the new PAFs might indicate what to expect in the coming years from this particular type of structured philanthropy in Australia. 

Read Part 1 here.


As we come to the end of 2021, let’s take a closer look at some of the new PAFs established in 2020 — after their first full year of establishment — and the people behind them.


With over $2 million in net assets (as at June 2020), David and Fee Hancock Foundation is ready to give. Established in January 2020, it is the Private Ancillary Fund of David Hancock and his wife, Fiona (also known as Fee). David is Chairman of FinClear and Consultant at Afterpay Touch — for which he was Non-Executive Director and Group Head (until 2019) — as well as a recent investor in FoodSt, a home-cooked meal delivery company. David and Fiona have personally supported a number of organisations in New South Wales, including National Institute of Dramatic Art (NIDA), Garvan Institute of Medical Research, Chris O’Brien Lifehouse, and more. The couple made approximately $114 million from selling shares in Afterpay (as at March 2020), and we look forward to seeing their philanthropy increase through their PAF in the coming years.

  • Established January 2020 
  • Directors: David & Fiona Hancock 
  • Causes: Arts, Health, and Medical Research 
  • Regions: New South Wales 
  • Capacity: $2 million in net assets (as at June 2020)
  • Full profile available in PafGUIDE here. 


Long-time life and business partners, James Height and Katy Morris (also known as Kate Morris)co-founded online beauty store, Adore Beauty, in 2000 and later established foundation shade matching site, Findation, in 2012Their Private Ancillary Fund, Height Morris Foundation, which was established in April 2020, has already given to The Hunger Project Australia (THP). Kate and James have been investing in THP since 2018, which is the same year Kate had an estimated wealth of $30 million. In 2020, while Adore Beauty projected sales of over $100 million, Kate said, “I like to think about philanthropy as an investment in a world I want to see. I would like to be known for having improved the lives of even a few people, for moving the needle on things I care about like helping women and the environment. I’m not okay with the disparity of opportunity in the world, and I like THP’s approach of trying to create outcomes in a very accountable way (from THP 2020 Global Investors Impact Report). 

  • Established April 2020 
  • Directors: James Height & Katy Morris  
  • Causes: Welfare and International Aid 
  • Regions: New South Wales 
  • Full profile available in PafGUIDE here


Michael Heine once stated that he does not want be on rich lists as he believes personal financial affairs should be kept private, but it’s hard to hide a wealth of $2.79 billion. Hestablished a Private Ancillary Fund for his family in May 2020 and it supports the Gender-wise Philanthropy Award presented by Philanthropy Australia in partnership with The Australian Women Donors Network. Michael is Joint Managing Director of Netwealth Investments with his son, Matthew Heine, and he is married to Kylie Heine (née Richmond). Michael and Kylie have personally supported Melbourne City Mission, National Gallery of Victoria, Multiple Sclerosis Limited, and more. Hopefully, this giving to the arts, health, and other causes throughout Australia is perpetuated through their family foundation.

  • Established May 2020 
  • Directors: Michael Heine (and family) 
  • Causes: Women, Welfare, Arts, Health & Disability, and Emergency Services 
  • Regions: Nationwide 
  • Full profile available in PafGUIDE here


They have supported Western Australia Symphony Orchestra, West Australian Ballet, and West Australia Opera, as well as Telethon Kids Institute and Senses Australia. Now, with their new family PAF, the Former Chairman & CEO of Automotive Holdings Group and Former Director of Advanced Healthcare Group (now delisted) and his family can structure their giving through Branchi Family Foundation, which was established in June 2020. While Robert & Gay Branchi may not appear on any rich lists, Robert owned shares worth $77 million when the stock peaked for Advanced Healthcare Group, and he sold shares worth $6.7 million and $7.2 million in 2016. In his retirement, Rob, with his family, is giving back to the community in Western Australia. 

  • Established June 2020 
  • Directors: Robert & Gay Branchi  
  • Causes: Arts, Children’s Health, and Disability 
  • Regions: Western Australia 
  • Full profile available in PafGUIDE here


He is the 3rd richest person in Australia with a wealth of $20.18 billion (according to AFR’s Rich List 2021)and Mike Cannon-Brookes — along with his wife, Annie Todd (Annie Cannon-Brookes), who is a Fashion Designer and Creator of Australian fashion label, House of Cannon — has been sure to engage in philanthropy in a big way. With Atlassian Foundation (a Private Ancillary Fund established in 2009) set up as the giving vehicle of the software company Mike founded with Scott Farquhar, the Cannon-Brookes Foundation (established in June 2020) is the PAF of Mike and Annie. If the couples personal giving history is an indication of the future charitable activities of the PAF, Cannon-Brookes Foundation is likely to be joining the fight to tackle the climate crisis and to aid international causes. In 2021, Mike and Annie pledged $1.5 billion (yes, billion!) to limit global warming and they had also pledged up to $1 million in matching funds to help Afghan refugees and people in Afghanistan as a part of a campaign by artist Ben Quilty. They also founded Resilient Energy Collective to help homes and businesses that have lost power due to bushfires or storms, towards which they pledged to provide up to $12 million.

  • Established June 2020 
  • Directors: Mike & Annie Cannon-Brookes 
  • Causes: Environment, Disaster Relief, and International Aid 
  • Regions: Nationwide 
  • Full profile available in PafGUIDE here. 


So far this year, 123 new Private Ancillary Funds have been established in 2021, which is — with two months remaining in the year — not only a return to, but a slight increase when compared to the ‘pre-pandemic’ rate of establishment (119 in 2019). This is great news for the sector! 


Every single new PAF that is established in Australia is individually and comprehensively researched by the AskRIGHT Research Team and published in the PafGUIDE® database. Learn more.

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  1. https://www.jbwere.com.au/content/dam/jbwere/documents/Insights/where-to-from-here-the-outlook-for-philanthropy-during-covid-19-pdf.pdf
  2. https://app.pafguide.com.au/