Recently, I have shared news about the Foundation's commitment to the Investment Dialogue for Australia's Children (IDAC) and Partnerships for Local Action and Community Empowerment (PLACE). In late March, we welcomed an important further development on this front, with the Commonwealth Government's announcement that it will provide up to $50 million towards co-investment alongside philanthropy to build and expand early learning services in areas of need. The philanthropic partners of IDAC have also committed up to $50 million of in-principle funding, making this one of the most significant co-investments between government and philanthropy in Australian history.

We are also pleased to now announce a $5 million major grant to the Australian National Academy of Music (ANAM) towards its capital fundraising campaign to create a permanent home at the former South Melbourne Town Hall. ANAM's reimagined home will be a welcoming space accessible to all, creating a place where young artists are supported personally and professionally. The facility will be renovated to meet ANAM's specific operational and training needs, enabling it to continue providing a pipeline of talent to Australia's orchestras and ensembles, securing the vibrancy of the Australian music sector for decades.

At our most recent Board meeting, the Governors awarded $7.5 million in major grants to the Bendigo Art Gallery, the Tomorrow Today Foundation, the Karrkad Kanjdji Trust and Logan Children Friendly Community Limited. These grants represent the Foundation's continued support for place-based organisations that strive to strengthen and develop the resilience of their local communities.

Lastly, I'd like to introduce our newest Governor, Patrick Houlihan, who was appointed to the Foundation's Board in March.

Patrick is Chairman and Chief Executive Officer of DuluxGroup and has held various technical, commercial, and senior leadership roles in that organisation for many years. He is also Chairman of the Murdoch Children's Research Institute, on the Advisory Council of St Mary's College at the University of Melbourne, and was formerly on the Board of the Australian Commonwealth Government's Industry Innovation and Science Australia. We are delighted to welcome Patrick and look forward to benefiting from his experience and insights across various sectors.