Forrests continue giving spree

Fortescue Metals Group chairman Andrew Forrest and his wife Nicola have continued their recent philanthropic giving spree, with a donation of $6.7 million in FMG shares to WA’s four major arts companies and Art Gallery of Western Australia's Future Fund.

$3.7 million, equivalent to 650,000 shares, was split between WA Opera, WA Symphony Orchestra, WA Opera and Black Swan State Theatre Centre and $3 million was gifted to the Future Fund which was set up in 2008 in order to secure a strong collection of contemporary art for the state gallery.

The latest donation from the Forrest's followed their $1.3 million donation to Murdoch University's Institute for Immunology and Infectious Diseases last week.

Mr Forrest said he hoped the gift would help the state’s major performing arts companies to grow and develop.

“We are fortunate in Western Australia to have an exciting and dynamic arts community and are delighted to support our local arts companies and help them to continue to bring performing arts of the highest calibre to all West Australians,” he said.

WASO chief executive Craig Whitehead said nurturing and supporting local arts companies is essential to maintaining and sustaining a strong and vibrant arts sector in WA.

 “Arts companies, like all non-profit organisations, require philanthropic support to be able to continue to be a part of a thriving arts community,” Mr Whitehead explained.

“Each of WA’s major performing arts companies rely on income from ticket sales, government funding and corporate support in order to survive. However it is not enough and philanthropic support is becoming increasingly important. The gift made by Andrew and Nicola Forrest will make a real difference to each company’s ability to grow and develop.”

Black Swan State Theatre Company artistic director Kate Cherry praised the Forrests for their generous contribution and said the support to the theatre company during its inaugural year at the new State Theatre Centre was appreciated, given the unprecedented growth it has experienced.

A joint release from the arts companies said they intend to utilise the donations in different ways. WA Ballet general manager Steven Roth said some shares will assist in the completion of the new state ballet centre in Maylands, as well as longer term capacity by providing a strong base for the company’s endowment.

West Australian Opera general manager Carolyn Chard said, “The board and management recognise the significance of this contribution which adds great comfort to the company’s ability to plan for the future.”