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  • Faq

YOUR Questions answered

1. How is aged care funded and why is
the Emmy Monash Foundation needed?

Aged care in Australia is highly regulated by the government. Fees are capped and facilities face unfunded yet mandated rules. What it takes to provide care, accommodation, meals and programs are not funded by government schemes fully yet aged care providers are not permitted to raise rates or charge fees, including our refundable bonds for entry.

In a nutshell, Emmy Monash cannot charge residents nor their families what it actually costs to provide residential care, especially to high need individuals. That is why 2 out of 3 aged care providers are not breaking even financially. This is why the Emmy Monash Foundation is critically needed.

2. What is the Emmy Monash Foundation?

Founded in 2012, the Emmy Monash Foundation (EMF) was created as a vehicle for the Emmy Monash capital campaign. Its original purpose was to raise enough money to fund the building of a state-of-the-art facility. That dream came true with the hard work
and generosity of thousands of individuals. Emmy Monash Gandel House was dedicated in 2016. After a few years dormant, the EMF relaunched in 2023 for the next round of fundraising: the creation of a permanent endowment.

The Emmy Monash Foundation has a dedicated board of directors that works closely with the Emmy Board yet is 100% focused to raising and investing funds for the
purpose of strengthening Emmy Monash, its programs and priorities. That is the sole
function of the Emmy Monash Foundation.

3. What is the Emmy Monash Foundation
endowment?

Much like a superannuation, the EMF endowment are funds collected over many years
and invested. Annual returns are reviewed and spent on current Emmy Monash programs
and priorities. Unlike a superannuation, the principal, or corpus, is never spent.
It remains whole and grows over time with additional donations. The EMF endowment
can help fund major repairs and replacement costs on a schedule as the funds are
available on an annual basis, thus reliable and perpetual. This makes planning much
easier. For example, $100,000 invested at 5% will generate $5,000 in spendable income
each year and every year for use by Emmy Monash, in perpetuity. The $1,000,000 will
generate $50,000 in income annually, at that same rate, and so on as it grows.

The most important aspect of the EMF endowment is that the principal is maintained and only interest is spent, protecting the organisation against the whims of government priorities and funding, which are always subject to change.

4. What will the Emmy Monash Foundation be used
for?

Emmy Monash is known for its care. This care exists within our beautiful buildings. These buildings were created with comfort, mobility and aesthetics in mind. Government funding via Medicare and aged care packages pay for very specific things; medical care, medicine, basic accommodations and food. What it does not pay for is the standard of excellence that Emmy Monash is known for, and what the community expects for its Jewish elders.
Keeping Gandel House and the Dandenong Road facilities in state-of-the-art condition will require funding beyond which the government will provide. The Emmy Monash Foundation endowment will be used to keep Gandel House and Dandenong Road facilities looking brand new.
Beyond the facilities, the EMF endowment is available to provide for the little extras that make Emmy Monash the home that it has been since its founding over 80 years ago. We also want to be a source of progress in aged care, a best-in-class example for the sector. We plan to do that by investing in the following:
  • Education and training to attract and retain a highly professional workforce
  • Environmentally friendly practices through the introduction of new technologies
  • Innovative and sustainable systems to enhance service delivery
  • Leading clinical care practices and programs
Emmy Monash