The Registrar of Indigenous Corporations, Anthony Beven, today released his eighth annual report on the 500 top earning corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) for 2014–15.
As in previous years, the top 500 report analyses data from general reports submitted by corporations as part of their annual reporting requirements under the CATSI Act.
Aboriginal and Torres Strait Islander corporations have continued to deliver strong growth in 2014–15. The average income of the top 500 corporations increased from $3.48 million to $3.76 million.
The 10-year average annual growth rate of total income for corporations was an enviable 9.4 per cent.
More than 33 per cent of the top 500 corporations were based in the Northern Territory and, for the first time, corporations in the territory averaged more than $5 million in income. Territory corporations also employed 4449 people, which is more than in any other jurisdiction.
Average income for Western Australian corporations exceeded $4.2 million but declined for the first time since 2009–10, led by a fall in the average income of Pilbara-based corporations from $8.99 million to $7.81 million.
‘Aboriginal and Torres Strait Islander corporations play an important role in the economies of remote and regional Australia, particularly in the Northern Territory,’ said Mr Beven. ‘While some corporations are adapting to reduced mining income the sector as a whole remains strong.’
This year’s case study features the Brisbane-based corporation, Winnam Aboriginal and Torres Strait Islanders Corporation which started 25 years ago on the back of a $100 donation. Today it’s a thriving concern with over $22 million in assets. As a 100 per cent community-oriented, not-for-profit corporation, it provides affordable housing, age-care services, and social and cultural support.
‘Winnam is an example of a corporation that has over many years showed solid, reliable growth,’ said Mr Beven. ‘It has good governance and demonstrates consistent, steady progress—in this way Winnam is a great model for others to follow.’
To download The top 500 Aboriginal and Torres Strait Islander corporations 2014–15 or earlier top 500 reports go to: www.oric.gov.au.
(02) 6146 4738
15 September 2016