RSLQ 2021 Annual Report

FUNDING OUR FUTURE 79 RSL Queensland Annual Report | 2021 The RSL Art Union also experienced skill shortages across key capabilities, which is consistent with the changing nature of the broader workforce, thanks in part to the pandemic. As a result, projects that were earmarked for development to support our growth plan were postponed this year. Despite the challenges and disruptions, the exceptional level of sales achieved in 2020 was maintained and financial targets were reached two years earlier than expected. Over the coming year, the RSL Art Union will re-evaluate their five-year plan to continue their strong growth and maximise revenue opportunities. With the demand for our services among veterans and their families continuing to grow each year, it’s important that our revenue also continues to increase. The revenue from ticket sales from the luxury prize home lotteries run by RSL Art Union accounts for about 96 per cent of our funds generated, with the remainder coming from investments and a small number of government grants. Following the establishment of RSL Queensland's skills-based Investment Committee in 2020, foundation planning was undertaken in 2021 in preparation to enable the organisation to be financially stable over the long term, by providing strong real returns and diversifying RSL Queensland's risks. In line with our Strategic Plan, growing the lottery and diversifying our risks by investing wisely will protect us against uncertain future outcomes and strengthen our ability to achieve our goal of a sustainable business, as we continue to work towards a bright future and enduring legacy for all veterans and their families. Annual Highlights Funding Our Future RSL VIP Hero Craig Dimmock “We often talk about how the lottery changes veterans’ lives through funding the programs we offer. But our commercial arm also has a real impact on everyday Australians, as it changes their lives as well. Buying a ticket in a luxury prize home draw gives people hope, and winning presents opportunities.” ROBERT SKODA CEO RSL Queensland Funding Our Future continued