William Buckland
The Foundation which bears his name commemorates William Buckland, a highly successful businessman and pastoralist in the middle years of the 20th century.
On his death in 1964, William Buckland left the bulk of his large estate, £925,000 to establish a Foundation.
The income was to be used “to benefit a wonderful country and a wonderful people, Australia and Australians”. A copy of his biography, William Lionel Buckland by David T. Merrett is available from Equity Trustees or public libraries.
Initially involved in building the fledgling motor parts trade, his business interests expanded to include service stations, finance and investment companies, and eventually a string of pastoral holdings in the eastern states and Northern Territory. He realised his great fortune by selling his private companies into public ones.
A copy of his biography, William Lionel Buckland by David T. Merrett is available from Equity Trustees or public libraries.
The Will which established the Foundation provided for half of the income “to divide in each year among such public hospitals, public benevolent institutions or public benevolent societies in Victoria and I hereby indicate to my Trustees my hope that in the division of such income, they will favourably consider charities for children”. The other half he wished to apply to “public scientific or public educational purposes, in Victoria”. His attachment to the pastoral sector is indicated in his suggestion that his Trustees, in administering the public educational purposes should “give preference to agricultural and related pursuits”.
Today, with careful stewardship by the Foundation’s Trustees, William Buckland’s legacy generates in the order of $7 million annually which is distributed for charitable purposes. From its establishment in 1965, the Foundation has distributed in excess of $141 million. As at 30 June 2023, the Foundation’s corpus was valued at $157 million.
