Sustainability Suppliers - Tycab

 

Tyree Foundation

Founded by Auckland born Sir William (Bill) Tyree and his family in the early 1970’s, the Tyree Foundation has been an active philanthropic organisation operating in Australia right up to the current day. The Foundation donated its $1million dollars to form Medicheck, the first multi-phasic health screening centre in Australia.

The incorporation of Medicheck was followed in 1978 by a $500,000 donation to the Sydney Square Diagnostic Breast Clinic, a multi-disciplinary centre for the diagnosis of breast cancer, a world first. The Tyree Foundation also established the Chair of Otolaryngology at the University of Sydney, which merged engineering expertise with medicine to treat deafness, which paved the way to for the later development of the world’s first bionic ear.

In its current form the Tyree Foundation is a deductible gift recipient (DGR), being a charitable organisation set up under the guidelines for a private ancillary fund (PAF).

Under the guidelines the Foundation can receive donations from any individual or entity but cannot solicit for such. The vast majority of the donations received will therefore come from sources related to the founder of the Tyree Foundation,

the largest source being the Tyree Group of Companies which comprises Tyree Transformers, Tycab Australia and Tycab NZ.

The Tyree Foundation therefore receives the majority of its donations from the Tyree Group of Companies whose charter requires that that the Group donates up to 50% of its trading profits to the Tyree Foundation, with the balance of the profits held for reinvestment into the long term growth of the businesses of the Tyree Group.

This unique business model ensures the Tyree Group businesses operate in the most efficient manner so as to:

• Continue the Tyree legacy of operating high technology manufacturing businesses within Australia;
• To fund investments into sustainable business growth; and
• To ensure the availability of funds to donate to the Tyree Foundation.

The Foundation is governed by a board of trustees which is made up of Tyree family members and independent persons with extensive experience in the Medical, Legal and Financial sectors. The Foundation charter ensures the trustees are obliged to operate in strict adherence to the PAF guidelines, important principles followed are:

• The Foundation is a not-for-profit entity;
• The Fund must be philanthropic in character and act as a vehicle for private philanthropy;
• It must be established and operated in Australia;
• Donations can only be made to organisations that have been granted DGR status.

The Tyree Foundation’s defining purpose is to assist the general community in Australia. This assistance will be provided by:

• Advancing health through the payment or application of the Trust Fund to 'Eligible Entities' engaged in the prevention, research and relief of sickness, disease or human suffering;
• Advancing education by the payment or application of the Trust Fund to 'Eligible Entities' that support education, through the provision of prizes and scholarships and other donations that will enhance an educational establishment's capacity to provide educational services;
• Supporting other purposes beneficial to the general public and analogous to other charitable purposes.

The Tyree Foundation has a long history of philanthropic activity including;

• Medicheck – the first multi-phasic health screening centre in Australia;
• Sydney Square Diagnostic Breast Clinic;
• Chair of Otolaryngology at USYD which paved the way to the development of the world’s first bionic ear;
• UNSW Tyree Energy Technologies Building;
• USyd Power Laboratory;
• Challenge House – a transitional living facility to enable disabled adults to adapt to independent living;
• UNSW/ USYD Microgrid research;
• UNSW/USYD SWER network research.
• Numerous donations to various hospital / medical research / benevolent causes.

Sir William

Tycab New Zealand is a member of the Tyree Group of companies which were founded by Sir William Tyree OBE. Sir William (Bill to his many friends &colleagues) was born in Auckland New Zealand on the 14^th November 1921 and passed away on the 25^th October 2013. Bill founded his first business in 1946 in Sydney Australia which expanded to include major manufacturing operations throughout Australia and New Zealand producing a diverse range of electrical products including cable, magnet wire, transformers, substations and associated electrical products. Over time he became an icon of manufacturing and the engineering profession in both countries, whilst also investing into numerous philanthropic activities including medical & research and education.

On his passing in 2013, the ownership of his business interests were passed to a charitable trust whose sole purpose is to continue Sir William’s philanthropic works. The business contributes up 50% of its annual profits to the Tyree Foundation whose primary charter is to donate funds toward medical and engineering education & research projects. Sir William was always an innovator, never accepting the status quo, always seeking a better way. His will to achieve has left a proud legacy with his companies and the many engineers he inspired through his philanthropic investment into education and research in both engineering and medical fields. Beneficiaries of these ongoing donations include Sydney University, the University of NSW, University of Wollongong and numerous other charities who provide funding for medical research and support to the disabled.

Due to the unique structure of the Tyree Group of companies including Tycab NZ, Tycab Australia and Tyree Australia are able to reinvest the remainder of our profits into sustaining our businesses for the long term. The Tyree Trust and the business operations are overseen by an independent board of directors and trustees including Mr Ralph Waters who is a highly experienced industrialist. Recently retired, Ralph, is a past chairman of Woolworths, previously the CEO of Fletcher NZ and a nonexecutive director of listed companies including Fonterra, Asciano and Westpac.

New Zealand Westpac rescue Trust Sponsor.