The funds are to be distributed globally among five NFPs for projects that show lasting community benefit and have a ‘defined approach to measuring social impact’.

Macquarie Group CEO, Nicholas Moore says, ‘Our people have devoted thousands of hours to work with non-profit organisations around the world and contributed over $330 million to drive social change at the local community level.

‘We are delighted to mark our 50th anniversary by extending this tradition with a further $50 million commitment to initiate or build on bold ideas which address areas of social need.’

Applicants must be a registered NFP  with aminimum annual revenue of $4 million, a board of directors, and audited financial statements.

Macquarie Group Foundation chair Shemara Wikramanayake says, ‘We encourage non-profits to be imaginative in their thinking about the enduring outcomes they can achieve with this funding.’

Applications are now open and close in mid-November, with winners announced in May 2019.