To ensure the ongoing success of the Noongar Boodja Trust (NBT) the WA Government will:
- provide funding instalments of $50 million annually to the NBT for 12 years. These funds will accrue for the first 12 years of the NBT’s operation, forming the Noongar Future Fund
- appoint a professional trustee company to manage all assets arising from the Settlement
- provide $10 million annually for 12 years as operational funding for the Noongar corporations
- provide office accommodation for each of the Noongar Regional Corporations and the Central Services Corporation.
The NBT is a special purpose charitable trust subject to all the usual Australian financial rules and regulations. The NBT will maintain the majority of the trust capital, with a fixed percentage being distributed each year for Noongar cultural, social and economic programs to the Noongar Corporations.
The Noongar Corporations are the only beneficiaries of the Trust and to protect the NBT's assets from risk it will be separate from the seven Noongar Corporations. So, regardless of any difficulties encountered by the Noongar Corporations, the assets will remain intact. In the long-term the NBT has the potential to deliver enduring economic, social and cultural benefits to the Noongar people for generations to come.
The Noongar Governance Structure is unique because the Noongar Corporations drive the outcomes and the NBT Trustee provides, according to certain safeguards, financial support to the Noongar Corporations.
The NBT Trustee makes yearly funding allocations to each corporation who then make decisions about their spending against identified activities and objectives.
Another unique feature of the NBT is that the Trust holds Noongar Cultural Land but this land is managed on a day-to-day basis by the Noongar Corporations.
Initial NBT Trustee
On 27 June 2016, Perpetual Trustee Company Limited (Perpetual) was notified as the successful initial Trustee for the Noongar Boodja Trust. Learn more about the Trustee selection process and the Initial Noongar Boodja Trustee.
For further information, see the documents below.