Erin Shakespeare of the Macquarie Group Foundation: Employee-driven corporate philanthropy

Companies That Care

The Companies that Care podcast highlights companies and business leaders who are making a difference in the world, like Acting Global Head of the Macquarie Group Foundation Erin Shakespeare. Erin leads a team that directs Macquarie’s efforts on philanthropic grantmaking and employee volunteering, working closely with the company’s people around the world.

Macquarie Group is an Australian-headquartered multinational financial services company. My sister-in-law Shemara has worked there for 34 years and is now the CEO and managing director.

The foundation provides support to hundreds of community organizations through financial support, volunteering, and skills sharing. A serious commitment to philanthropy has been part of the company culture since it was founded in 1969. On community advisory committees in local offices around the world, staff plan how to give back in their communities.

Erin shared the history of Macquarie’s staff-led philanthropy. The company has a generous matching program, providing employees up to $A50,000 per year in matching donations for any fundraising they do.

Last year was a huge year for the foundation, reaching a total of $A64 million in contributions. In 2020, the foundation arranged a COVID-19 fund of $A20 million to support immediate relief and economic recovery.

To acknowledge the company’s 50th anniversary in 2019, Macquarie established an $A50 million fund awarding $A10 million grants to five organizations. They chose to fund the Social Finance US, Last Mile Health, World Mosquito Project, World Scabies Program, and the Ocean Cleanup.

In 2020 Macquarie created its first racial equity fund, bringing together a working group of staff across their business to discuss where they could make a difference toward racial equity solutions. They’ve made grants in four markets in the US where Macquarie staff live and work. Although the dollars are important, just as critical is finding ways to engage their staff through pro bono skill sharing or educating themselves on these issues.

I’m impressed with the way Macquarie empowers its employees to invest in their communities. “Every day I wake up and I'm just so grateful I have this job,” said Erin. “I really feel incredibly lucky to do this impactful work and to do this work at Macquarie.”

Next week on the Finding Fertile Ground podcast I interview Terri Kozlowski, proud Native American warrior from the Athabascan; Tlinglet Tribe - Raven Clan.

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