- Amy Gillett charity closes after 18 years
- Cor Cordis has been appointed liquidator
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EXCLUSIVE
A charity named after an Australian cyclist killed in Germany almost two decades ago is closing because the cost of living crisis makes it difficult to attract donations.
The Amy Gillett Foundation was created in January 2006, six months after the 29-year-old athlete was killed by a teenage driver while training with the Australian women’s cycling team near Zeulenroda in eastern Germany.
Amy Gillett’s husband Simon Gillett, her parents Mary and Denis Safe, and friends founded the registered charity to campaign for greater safety for cyclists on Australian roads following the July 2005 tragedy.
He had dreamed of winning gold at the 2006 Commonwealth Games in Melbourne.
A charity named after an Australian cyclist killed in Germany almost two decades ago is to close because the cost of living crisis makes it difficult to attract donations.
The Amy Gillett Foundation was created in January 2006, six months after the 29-year-old athlete was killed by a teenage driver while training with the Australian women’s cycling team near Zeulenroda in eastern Germany.
But on Friday, the Australian Securities and Investments Commission announced the Melbourne-based charity would be liquidated and restructuring firm Cor Cordis partners Shaun Matthews and Rachel Burdett would be appointed liquidators.
Cor Cordis said the cost of living crisis had made it difficult for charities to attract donations, after inflation hit a 32-year high at the end of 2022 and interest rates soared.
The federal government also cut off any new funding, sealing the charity’s fate.
“As has been the experience of many nonprofits, the last few years have been difficult and securing philanthropic funding has become more complex,” he said.
“Regrettably, the board of directors has concluded that the current operation of the Foundation is no longer sustainable in the absence of new funding from the Federal Government.”
The charity board made the decision to liquidate the organization and Cor Cordis promised a report to creditors within the next three months.
“We are currently reviewing the financial position of the Amy Gillett Foundation,” the liquidators said.
Amy Gillett’s husband Simon Gillett, her parents Mary and Denis Safe (pictured in 2010) and friends started the registered charity to campaign for greater safety for cyclists on Australian roads.
‘Our objective is to assess the realization potential of the company’s existing assets as we begin to wind down the affairs of the Foundation in an orderly manner.
“A detailed report detailing our findings will be provided to creditors and interested parties within three months of appointment.”
The Australian Charities and Not-for-Profit Organizations Commission reported that the Amy Gillett Foundation had no dollar income in 2023.
The Amy Gillett Foundation has made its Instagram pages private.
Daily Mail Australia has contacted them for comment.