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153 AUSTRALIAN SPORTS FOUNDATION LIMITED DIRECTORS REPORT For the year ended 30 June 2015 Risks and opportunities in future years Business activity is expected to continue trending upwards as a result of the transformation strategy. The Foundation has implemented a new constituent relationship management system and a new digital strategy including social media and a new website with online donation capability to facilitate donations and streamline reporting processes. The Foundations fundraising capabilities will continue to be strengthened and marketing and thought leadership programs will provide ongoing opportunities to increase the amount of money donated to sport. From 1 July 2015 ongoing financial support will no longer be received from the Commission and the Foundation will be implementing a new funding model. This model will involve the Foundation retaining a percentage of monies donated ranging from 5 per cent to 6 per cent depending on the method of donation in order to cover operating costs. State of affairs There were no significant changes in the state of affairs of the Foundation during the financial year. The Foundation continued implementation of its transformation strategy and conducted a range of business development activities to sustain and increase its fundraising activities. Review and results of operations The operating profit for the year ended 30 June 2015 was 4306397 2014 loss of 1320832. This reflects the substantial growth in donations which increased by almost 7m during the course of the year. Dividends No dividends have been paid or declared during the year and no dividends are proposed. The Foundation is prohibited by its Memorandum and Articles of Association from making any distributions to its members. Members funds In the event of winding up every member of the Foundation undertakes to contribute to the property of the Foundation up to an amount not exceeding 100. At 30 June 2015 the total amount that members are liable to contribute if the Foundation is wound up is 400 2014 400.