The Registrar of Indigenous Corporations has today released a new report on the contribution of Aboriginal and Torres Strait Islander corporations to their people and their communities.
The report found that the top 500 corporations collectively generated over $1 billion in income in 2007–08, employed almost 7000 people and were mostly located in Western Australia and the Northern Territory.
More than 95 per cent of Aboriginal and Torres Strait Islander corporations are not-for-profit, community controlled organisations and provide important services to Aboriginal and Torres Strait Islander people and communities. Almost half of the corporations operate in the health and community services sector.
‘The data in this report was supplied by corporations as part of their annual reporting. As reporting compliance increases, the data will feed into comparative research to provide an accurate and insightful yearly report,’ Mr Beven said.
‘The report highlights that many strong Aboriginal and Torres Strait Islander corporations are contributing significantly to the economy, their people’s wellbeing and their communities.’
The Registrar intends to release a similar report each year.
The two top performers in ORIC’s top 500 corporations were the Ngaanyatjarra Council Aboriginal Corporation (NCAC) in (ranked number one) and the Bawinanga Aboriginal Corporation (BAC) (ranked number two) both located in the Northern Territory.
NCAC represents the interests of 1900 Ngaanyatjarra, Pintupi and Pitjantjatjara people, living in 12 major communities in the central desert region of Western Australia. Over 60 per cent of their revenue is self-generated. The corporation provides a whole range of services to the communities.
BAC is responsible for providing services to 32 outstations in an area of approximately 10 000 km. BAC’s most profitable venture is its large retail facility which houses a supermarket and an electrical store. Nine of the corporation's 10 directors are male, which bucks the trend of Indigenous corporations in the top 500 having larger numbers of female directors than the top 200 ASX-listed companies and government boards and bodies.
Lisa Donnelly on (02) 6219 7611,
18 December 2009