The foundation board’s external directors will be Andrew Brookes; Dr Frank Costa, OAM; Andrew Fairley; Paddy Handbury; Dr Harold Mitchell, AO; Karen Plant; and Daryl Somers, OAM.

Bracks said that all the directors would bring significant collective philanthropic expertise to the foundation’s work. “Philanthropy is now widely regarded as an investment in a relationship and philanthropists are actively seeking to develop long-term partnerships with the organisations and causes they support. This is consistent with the thinking at Deakin University.”

The board will also include the university’s Chancellor David Morgan and Vice-Chancellor Professor Sally Walker. Professor Walker said “We are especially pleased that so many outstanding people have agreed to serve on [the] board; this is a measure of their confidence in Deakin and the foundation.”

Funds raised by the foundation will initially be used for scholarships and health and medical research projects.