Cystic Fibrosis Queensland

Cystic Fibrosis Queensland is a peak not-for-profit (NFP) charity, raising funds and awareness for those living with cystic fibrosis. Cystic Fibrosis Queensland began in 1960 by a group of local Brisbane parents searching for a cure for cystic fibrosis. As they worked to raise funds towards this goal, they learned more about the disease, shifting focus to the impacts cystic fibrosis has on individuals.

Cystic fibrosis is the most common genetic condition in Australia today. There is sadly no current cure for this disease, but with the right treatment, people are living longer, fuller lives than ever before. “Our mission here at Cystic Fibrosis Queensland is to embrace tomorrow. By embracing tomorrow, we mean not only ensuring our members have access to the newest medications but also creating support services to help them embrace tomorrow,” said Petrina Fraccaro, Chief Executive Officer (CEO) of Cystic Fibrosis Queensland.

Due to the effects of the global pandemic, Petrina realised in early 2020 that charities could not rely solely on funds and grants to grow their entities. It was evident that NFPs require their own income streams. That’s when Petrina approached BDO Partner, Guy Taylor and the Private Wealth team to enquire about starting an investment portfolio. Launching a donor’s club, Cystic Fibrosis Queensland asked for donations to start a seed fund, an investment account that BDO’s team managed for Cystic Fibrosis Queensland.

As a smaller-sized charity with no executive team other than herself, Petrina highlights the importance of her close work with the board, and for the board to seek external advisers who are not only experts in their area, but also understand the NFP sector. Petrina explains, “Dealing with a NFP involves compassion and an understanding that charities operate uniquely to most businesses. There are inconsistent peaks and flows when it comes to fundraising and the grant process.” BDO’s Private Wealth team has worked with the board to educate and build an investment framework, resulting in an investment portfolio which reflects Cystic Fibrosis Queensland’s foundational goals.

“BDO has been there to support us through our journey, providing guidance when it comes to our investment accounts, advising on forecasting and guiding me as to where Cystic Fibrosis Queensland should invest our funds,” said Petrina. “The team at BDO has taken the time to get to know our charity and me personally. They have a good understanding of our business and how I like to work in the business.” Petrina explains that it’s as though BDO is part of the wider community, joining patron events and getting to know what it’s like to live with cystic fibrosis.

The world of those living with cystic fibrosis is dramatically shifting at a pace Petrina never thought possible. A child born today with cystic fibrosis can now live a whole and complete life if they have access to the right medication. What lies ahead for Cystic Fibrosis Queensland is continued diversification and further direct support and service availability for families, with Cystic Fibrosis Queensland now entering the National Disability Insurance Scheme (NDIS) market. Petrina and the Cystic Fibrosis team look forward to continuing their business relationship with BDO.

BDO’s Private Wealth team has extensive experience in delivering results for charitable causes, including a portfolio which has funded over $1 million worth of donations. Contact our Private Wealth team today if you want to learn more about our Private Wealth services.

BDO has supported us through our investment journey, providing forecasting advice and guidance on where Cystic Fibrosis Queensland should invest our funds.