On this episode of It’s Never About Money, I am joined by Rachael McLennan, the CEO and co-founder of People for Purpose. For over a decade, People for Purpose has championed outstanding leadership and governance in Australian charities—a cause close to Rachael’s heart.

In our conversation, Rachael shares her inspiring journey into philanthropy, her experiences as the founding CEO of Australian Philanthropic Services, and her insights on how strong leadership can transform charitable organisations. We delve into the significance of governance, the role of mentorship in empowering young people, and the growth of private philanthropy in Australia.

Rachael also talks about her personal connection to social impact, her experiences as an MBA student specialising in this field, and how she balances her passion for her work with being a mother of three.

This episode is a must-listen for anyone passionate about leadership, philanthropy, and making a difference in the not-for-profit sector.

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In this episode of It’s Never About Money, I am joined by Maya Marcus, CEO of Kids in Philanthropy. Kids in Philanthropy is a not for profit focused on supporting young people experiencing disadvantage by empowering the next generation of Australians to be philanthropists; giving their time, talent and treasure to those in need.

In this episode we explore the impact children can make through socially responsible causes and charitable giving. We discuss the importance of engaging the next generation in giving their time, talent, and treasure to support those in need, and how such involvement can create lasting change.

Enjoy the episode!

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Social enterprise is a term that captures a unique blend of business acumen and social responsibility. It is a concept where commerce and compassion converge to create businesses that not only generate profits but also address social, environmental, or humanitarian issues. Daniel Flynn, co-founder of Thankyou, embodies the spirit of social enterprise and is a testament to its transformative potential.

Thankyou is an Australian social enterprise that challenges traditional business models by committing 100% of its profits to fund sustainable development projects aimed at ending extreme poverty. This organisation was born out of Flynn’s realisation that while consumerism thrives, millions still suffer from the lack of basic human necessities, such as clean water. At 19 years old, Flynn encountered the stark reality that children were dying from waterborne diseases and felt compelled to act. This empathy, coupled with his entrepreneurial mindset, led to the creation of Thankyou.

Thankyou’s product line started with bottled water, a choice that is symbolic of the issue it aimed to address. It has since expanded to include personal care and baby products. The innovative idea behind Thankyou is simple yet powerful: leverage consumer spending to fund life-changing projects. Each purchase becomes an act of philanthropy, allowing consumers to participate in a global movement to reduce poverty.

Flynn’s journey with Thankyou is a testament to the fact that social enterprise is more than just a business venture—it’s a calling. It’s not solely about the bottom line but also about the positive impact on society and the fulfilment of contributing to a greater good. It’s also about equity of the soul—a rich sense of purpose that money cannot buy. As of the last report, Thankyou has raised $18.1 million for these causes, illustrating the tangible impact a social enterprise can have.

Daniel Flynn and Thankyou’s story is not only inspirational but also educational. It serves as a blueprint for aspiring social entrepreneurs who seek to create businesses that are not only profitable but also purposeful. It is a call to re-envision the role of business in society and a reminder that the power to effect positive change lies within each of us, in our choices, and in our willingness to turn empathy into action.

To hear the full conversation with Daniel Flynn, listen to episode 58 of It’s Never About Money.

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One of my strongest beliefs is that money, used properly, has the power to do good. It can enable and empower those who are less fortunate by providing them with food, clean water, shelter, and education.

Money should be used to do good in the world. To provide these basic needs and rights to people who truly need them. It shouldn’t be used and manipulated to make the rich richer. This was the realisation of this week’s guest, David Ward.

David Ward is the Technical Director of Australian Philanthropic Services. Before moving to the philanthropy sector, David worked in banking for nearly 20 years. In that time, he held senior positions at ANZ, including Chief Economist (New Zealand) and General Manager, Investor Relations. Notably, he spent four years as Managing Director of ANZ Trustees, which administered over 200 charitable trusts.

David has been a director of APS from the outset and is its technical resource. He is a director of several Private Ancillary Funds and is Chairman of the Australian Philanthropic Services Foundation, APS’s Public Ancillary Fund.

But what made David switch careers from banking to philanthropic services? Although he says there were a raft of factors that contributed to the change, David recalled one moment in particular that he always comes back to.

When David was running a team at ANZ, a very competent team member with a lot of potential resigned. This was a bit of a shock to David, because she had just won Associate Of The Year and had a great career in banking ahead of her. 

When David asked her why she was resigning she said, “Honestly, I am helping people who have already got a lot of money, make even more money.” She wanted to be involved in how that money could be used to help the people who actually needed it. 

This made David reflect on his own story and career, which led him to Australian Philanthropic Services, which in turn led him to be a guest on a podcast called It’s Never About Money.

To hear the full conversation with David Ward, listen to episode 55 of It’s Never About Money.

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The pursuit of happiness is an intrinsic part of the human experience, yet the nature of true happiness is complex and multifaceted. 

This week I was joined by Associate Professor Lisa A. Williams. Lisa is a social psychologist whose research explores how emotions shape and are shaped by social processes. Specifically, her research focuses on the adaptive functions of positive social emotions such as pride and gratitude. 

We delved deep into the concept of well-being and, in particular, the relationship between eudaimonic and hedonic happiness. Now, I know these words could be new to you (they were unknown to me until recently), but I’ll explain what they mean, and how their relationship can offer a framework for understanding the deeper dimensions of what it means to lead a fulfilling life.

Hedonic well-being is derived from the Greek word hedone, meaning pleasure, and is associated with the pursuit of pleasure and the avoidance of pain. It is the aspect of well-being that concerns the immediate feelings of joy, contentment, and satisfaction that arise from pleasurable experiences. Whether it’s indulging in a delicious meal, enjoying a leisurely day at the beach, or celebrating a personal achievement, hedonic happiness is about the comfort and pleasure we derive from such experiences.

Eudaimonic well-being, on the other hand, is rooted in the Greek term eudaimonia, which translates to human flourishing or welfare. This concept was championed by Aristotle, who posited that true happiness is found in living virtuously and fulfilling one’s potential. Eudaimonic happiness is less about momentary pleasures and more about living in accordance with one’s values, developing one’s talents, and contributing meaningfully to society. It encompasses a sense of purpose, personal growth, and the deep satisfaction that comes from engaging in activities that transcend mere enjoyment and contribute to a sense of life’s worthwhileness.

The relationship between eudaimonic and hedonic well-being is not one of opposition but of complementarity. A life rich in hedonic pleasures without a sense of purpose or meaning can feel shallow and unsatisfying, while a life devoted solely to eudaemonic pursuits without the joy of hedonic pleasures can become burdensome and joyless.

The equilibrium between these two forms of happiness is where the essence of well-being lies. A harmonious blend of pleasure and purpose allows individuals to experience the joys of life while also engaging in fulfilling activities that provide a sense of accomplishment and contribution. For example, engaging in a hobby one loves can offer immediate pleasure while also contributing to personal growth and self-expression, embodying both hedonic and eudaimonic elements.

In the modern world, where consumerism often drives the pursuit of material pleasures, the significance of eudaimonic well-being can be undervalued. The constant chase for hedonic highs can lead to a treadmill of dissatisfaction, where happiness is always just out of reach. Yet, by integrating the eudaemonic aspect of well-being into our lives, we can counteract the fleeting nature of hedonic pleasures and cultivate a deeper sense of fulfilment.

The dance between eudaimonic and hedonic well-being is an artful balance that requires introspection and conscious choice. By recognising the importance of both pleasure and purpose, individuals can craft lives that are not only enjoyable but also rich with meaning and significance. This delicate equilibrium is the key to unlocking the full spectrum of human happiness, a tapestry woven with threads of joy, accomplishment, and heartfelt connections.

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Financial literacy has the power to change lives. 

In the latest episode of It’s Never About Money, I sat down with Darian Clark, the CEO of CUFA, to explore the social impact of financial literacy. 

CUFA, formerly known as Credit Union Foundation Australia is an independent, secular, not-for-profit Australian development organisation. It works as a bridge, providing people with the skills and tools around financial literacy to start and run their own businesses. 

They also offer long-term mentoring and support to help individuals succeed. Small business is seen as the ultimate act of passion, and CUFA does everything within their power to help communities and individuals overcome barriers and thrive.

CUFA’s financial literacy programmes don’t end there. They also work with primary school children, providing them with financial literacy education. This unique approach involves directly delivering financial literacy lessons in school classrooms. Their goal is to encourage critical saving habits and educate students on financial services. CUFA even helps the children set up their savings accounts in community-owned banks.

Through this programme, they also empower teachers to deliver their curriculum, allowing for greater reach and sustainability. The aim of CUFA is not to own knowledge, but to share it. They hope to work with national departments of education to integrate financial literacy into school curricula. By doing so, they aim to create long-term change and improve outcomes for future generations.

We have been working with CUFA with their Children’s Financial Literacy programme, including a trip to PNG to teach financial literacy in a local school and a short children’s financial literacy booklet. 

Through organisations like CUFA, individuals in impoverished areas are given the tools and support they need to succeed, providing economic opportunities and empowerment. By integrating financial literacy into school curricula, the impact can be multiplied, creating a more equitable and financially empowered future for generations to come.

To hear the full conversation with Darian Clark, listen to episode 52 of It’s Never About Money. 

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In an era where innovation and social impact go hand in hand, few initiatives have captured hearts and minds like Orange Sky. Founded by Nic Marchesi and Lucas Patchett, this Australian mobile laundry service is transforming the lives of people experiencing homelessness, offering them much more than clean clothes.

I was honoured to be able to sit down this week and talk to Nic Marchesi. Nic has wisdom beyond his years. He’s a recipient of 2016 Young Australian of the Year and 2020 Order of Australia Medalist.

Nic and his best mate from high school, Lucas Patchett, came up with the idea of a mobile laundry service when they were just 20 years old. Their passion for helping others led them to convert an old van into a functioning laundry facility. Since its humble beginnings in 2014, Orange Sky has grown exponentially, expanding its fleet of vans and volunteer network, and has become an internationally recognised social enterprise.

But Orange Sky is much, much more than just a mobile laundry service. Cleaning clothes is important, but the main thing that they pride themselves on is connection. 

“We had nothing to do when the conversation was on, but to sit down and have a chat. The conversation with Jordan (a person experiencing homelessness) change Lucas’ and my life forever”

Although when they started their objective was to clean clothes for free, Nic and Lucas quickly realised that wasn’t the driving force behind the service. They quickly changed their mission statement to ‘Positively Connecting Communities’. They provide a space for conversation, connection and community. 

Through their mobile laundry service, Orange Sky has created a platform for compassion and connection, empowering volunteers and transforming the lives of people experiencing homelessness in Australia. Their vision continues to inspire change and drive towards a more inclusive society.  

To hear the full conversation, listen to episode 50 of It’s Never About Money

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Is capitalism a dirty word? Or can capitalism be used as a tool for the benefit of society?

This week’s guest, Allan English, is someone who is an advocate, an activist, a champion of social enterprise. Social enterprises are organisations that prioritise social or environmental goals over profit maximisation, and often reinvest their profits into their mission.

Allan is the Founder and former CEO of ASX-listed hospitality company, Silver Chef, which provides equipment financing solutions for hospitality businesses. In 2010 Allan stepped down as CEO of Silver Chef and transferred 50% of his shares to form the capital base of the English Family Foundation. 

Allan has been nationally recognized for his continued work in the Philanthropic sector and in 2020 he was honoured by being awarded with an Order of Australia AM for Philanthropy and services to the community. 

Allan has seen a significant shift towards social enterprises as an alternative to traditional business models. He recounted in episode 46 a story about his continuing work with University of Queensland MBA classes:

“Back then [in 2013] the total end goal was to get a job working for Macquarie Bank and make a million dollars a year… When I go and talk to the MBA classes today, the top of the crop are all wanting to become social entrepreneurs. They want to become change makers building businesses that have got a social purpose.” 

The importance of social enterprises lies in their ability to address some of the world’s most pressing social and environmental issues. From poverty and inequality to climate change and biodiversity loss, social enterprises are working towards creating a more sustainable and equitable world.

Allan’s foundation, the English Family Foundation, was set up to support these social enterprises. The English Family Foundation seeks to support social entrepreneurs driving high-impact initiatives in Australia and the South East Asia region. Their particular focus is on supporting the underlying ecosystem to enable social entrepreneurs to thrive.

The shift towards social enterprises is driven by changing consumer and employment preferences. Increasingly, consumers and job-seekers are looking for businesses that prioritise sustainability and social responsibility. 

A great example of a social enterprise is Who Gives A Crap – a profit-for-purpose toilet paper company that uses 50% of its profits to build toilets in the developing world. I had a conversation with the CEO of Who Gives A Crap, Simon Griffiths, on episode 37 of It’s Never About Money. Have a listen if you want to learn more about that incredible organisation. 

The shift towards social enterprises is not only important for creating a more sustainable and equitable world but is also reflective of changing consumer preferences towards socially responsible businesses. I applaud Allan for all the work he has done and I enjoyed every moment of our conversation.

To hear the full conversation, listen to Episode 46 of It’s Never About Money.

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There are over 57,000 charities that Australians can give to.

So it’s completely understandable if you’ve found yourself in a situation where you want to give, but feel overwhelmed by the volume of choices in front of you. 

How do you work out which charity to give to? Which charity best aligns with your beliefs? Which charity is going to make the most change with your donation?

This is the problem that is being addressed by Kylie Wallace and Jess Bowman of Seedling Giving. Seedling Giving is a personalised one-on-one charity matching service that matches high-performing charities with individuals and corporations. 

The Seedling team of experienced philanthropic advisors get to know about people’s passions, values, and life-experiences. They then find and vet charities to perfectly align with the client’s needs and wants. 

Kylie explains that this process allows people to, “feel like they can give, be confident about their giving, and give as generously as they can.”

There are many reasons why people choose to give. They could be in a situation of abundance – maybe they have received an inheritance or a sum of money. Or it could be in a time of crisis – when something unexpected happens like a bushfire or a flood. Or it simply could be an innate want to give back and to make the world a better place. 

The culture of giving is an important one to uphold. When it comes to families, many of us have seen our parents washing jerseys, or working at the tuckshop, as a way to give back to the local community. Witnessing acts of generosity and giving at a young age does help to perpetuate this culture. 

Religion too plays a big part in the culture of giving. So many of the values instilled through religion are to help those that are less fortunate than us. It could be by donating to the Salvation Army, or putting money in the collection plate, or donating and buying clothes from a local op shop. We, as a society, may be drifting away from religion, but we need to keep espousing the charitable values and qualities that are intrinsically tied to faith.

I worked with Seedling Giving to find a charity that best aligned with my values and passions. Seedling found me the charity Cufa. Cufa is an organisation whose mission is to facilitate the development of economic capacity through education, employment and enterprise opportunities to create value and self-reliance.

If you are looking to give, feel confident about your giving, and give as generously as you can, I implore you to contact Seedling Giving today. 

Because after all, the key to living is giving. 

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Who Gives A Crap?

Unfortunately, the answer isn’t a resounding, ‘EVERYONE!’

This week’s guest, Simon Griffiths, certainly does give a crap. Simon is an entrepreneur, driver of social change and co-founder and CEO of Who Gives A Crap – a profit-for-purpose toilet paper company that uses 50% of its profits to build toilets in the developing world.

Simon, and his two fellow co-founders Danny and Jehan, saw a problem in the world. At that time in 2012, 2.4 billion people in the world didn’t have access to clean toilets or proper sanitation.

That’s 40% of the population and it meant that 289,000 children under five die every year from diarrhoeal diseases caused by poor water and sanitation. That’s almost 800 children per day, or one child every two minutes.

Simon and the team decided to sit down for what they believe in and try to wipe this issue clean from the world.

Enter: Who Gives A Crap. It would be hard to miss the evocative branding and widespread use of this toilet paper brand over the last ten years. Their catchphrase says it all – “Good for your bum, great for the world!”

Over the last 10 years, Who Gives A Crap has donated 50% of their profits which equals over $10,800,000 AUD to the mission of ensuring everyone has access to clean water and a toilet.

Simon came from a background in investment banking. But the large pay-packets weren’t enough to keep him interested. He worked in the philanthropy sector, but saw a glass ceiling for the amount of impact that was possible.

Who Gives A Crap is the middle ground between these worlds. As a profit-for-purpose company, the more they grow as a business, the more they are able to donate to this worthy cause.

To hear the full conversation, listen to Episode 37 of It’s Never About Money.

FIND OUT MORE:

> Instagram: https://www.instagram.com/whogivesacraptp/

> LinkedIn: https://www.linkedin.com/in/simongriffiths-wgac/

> Website: www.whogivesacrap.org

ABOUT IT’S NEVER ABOUT MONEY:

Joe Stephan is a Financial Planner with Stephan Independent Advisory, based in Melbourne, Australia: http://www.siadvisory.com.au/

It’s Never About Money is powered by Stephan Independent Advisory:
https://itsneveraboutmoney.com.au/

It’s Never About Money is a proud supporter of Cufa:
https://www.cufa.org.au/

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