{ "entity_id": "O-000912", "folder": "Indigenous-Business-Australia", "name": "Indigenous Business Australia", "type": "Corporate Commonwealth Entity", "jurisdiction": "Commonwealth", "portfolio": "Prime Minister and Cabinet", "website": "http://www.iba.gov.au", "data_status": "rich", "completeness": { "has_strategy_brief": true, "has_strategy_structured": true, "has_vision": false, "has_kpi_targets": true, "has_kpi_results": true, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": true, "has_global_initiatives_text": true, "has_ideas": true, "has_artifacts": true, "n_ideas": 8, "n_legislation": 2, "n_artifacts": 18, "n_kpi_targets": 6, "n_kpi_results": 6, "n_outcomes": 1, "verified_own_data": true }, "strategy_profile": { "status": "published", "confidence": "high", "summary": "To assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency. To advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and using a substantial capital asset for the benefit of Aboriginal and Torres Strait Islander peoples. [CP p.10]", "official_site_url": "http://www.iba.gov.au", "source_documents": [ { "type": "annual_report", "title": "IBA Annual Report 2024-25 (PDF 20 MB)", "url": "https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf", "period": "2024-25", "confidence": "high" }, { "type": "annual_report", "title": "IBA Annual Report 2023-24 (PDF 26 MB)", "url": "https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf", "period": "2023-24", "confidence": "high" }, { "type": "annual_report", "title": "IBA Annual Report 2022-23 (PDF 22 MB)", "url": "https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf", "period": "2022-23", "confidence": "high" }, { "type": "annual_report", "title": "IBA Annual Report 2021-22 (PDF  5.8 MB)", "url": "https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf", "period": "2021-22", "confidence": "high" }, { "type": "annual_report", "title": "IBA Annual Report 2020-21 (PDF 6.4 MB", "url": "https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf", "period": "2020-21", "confidence": "high" }, { "type": "corporate_plan", "title": "IBA Corporate Plan 2025-26 (PDF 7 MB)", "url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "period": "2025-26", "confidence": "high" }, { "type": "corporate_plan", "title": "IBA Corporate Plan 2024-25 (PDF 7 MB)", "url": "https://www.iba.gov.au/wp-content/uploads/2024/08/IBA-Corporate-Plan-2024-25.pdf", "period": "2024-25", "confidence": "high" }, { "type": "corporate_plan", "title": "IBA Corporate Plan 2023-24 (PDF 7MB)", "url": "https://www.iba.gov.au/wp-content/uploads/2023/04/IBA-CorporatePlan_2023-24_FINAL.pdf", "period": "2023-24", "confidence": "high" }, { "type": "corporate_plan", "title": "IBA Corporate Plan 2022-23 (PDF 6 MB)", "url": "https://www.iba.gov.au/wp-content/uploads/2022/08/IBA-Corporate-Plan-2022_23.pdf", "period": "2022-23", "confidence": "high" }, { "type": "corporate_plan", "title": "IBA Corporate Plan 2021-22 (PDF 4 MB)", "url": "https://www.iba.gov.au/wp-content/uploads/2021/08/IBA-Corporate-Plan-2021-22_final-web.pdf", "period": "2021-22", "confidence": "high" }, { "type": "strategie", "title": "IBA Strategy towards 2030 (PDF 262 Kb)", "url": "https://www.iba.gov.au/wp-content/uploads/2025/11/Strategy-on-a-page_landscape.pdf", "period": "2025", "confidence": "medium" }, { "type": "strategie", "title": "Net Zero Opportunities for First Nations (PDF 640 KB)", "url": "https://www.iba.gov.au/wp-content/uploads/2025/11/NETZERO.pdf", "period": "2025", "confidence": "medium" }, { "type": "strategie", "title": "IBA Impact Framework (PDF 4 MB)", "url": "https://www.iba.gov.au/wp-content/uploads/IBA-Impact-Framework.pdf", "period": null, "confidence": "medium" } ], "purpose": { "text": "To assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency. To advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and using a substantial capital asset for the benefit of Aboriginal and Torres Strait Islander peoples. [CP p.10]", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": 10, "source_deep_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=10" }, "vision": null, "strategic_priorities": [ { "title": "Future Made in Australia", "description": "Future Made in Australia", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": 32, "source_deep_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32" }, { "title": "developing Northern Australia", "description": "developing Northern Australia", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": 32, "source_deep_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32" }, { "title": "the clean energy transition", "description": "the clean energy transition", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": 32, "source_deep_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32" }, { "title": "gender equality and women’s economic empowerment", "description": "gender equality and women’s economic empowerment", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": 32, "source_deep_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32" }, { "title": "social impact investing and leveraging government investment", "description": "social impact investing and leveraging government investment", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": 32, "source_deep_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32" } ], "values": [ { "name": "Responsive", "description": "", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": null }, { "name": "Informed", "description": "", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": null }, { "name": "Connected", "description": "", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": null }, { "name": "Invested", "description": "", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": null }, { "name": "Respectful", "description": "", "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": null } ], "outcomes": [ { "name": "Outcome 1: Improved economic inclusion and participation", "description": "To enhance the financial wellbeing and independence of Aboriginal and Torres Strait Islander people through distribution of home and business finance, access to wealth generating opportunities and capability development activities. [CP p.10]", "activities": [ "distribution of home and business finance", "access to wealth generating opportunities", "capability development activities" ], "source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "source_page": 10, "source_deep_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=10" } ], "performance_measures": [ { "code": "PM1", "measure": "Total annual number of Aboriginal and Torres Strait Islander people provided with access to capability building, knowledge and networks directly by IBA and indirectly through partnerships.", "target": ">45 out of 100", "latest_result": "89% of IBA’s operating budget was self-funded.", "status": "Not achieved", "target_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "target_source_page": 41, "result_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf", "result_source_page": 41 }, { "code": "PM2", "measure": "Total annual sum of capital and capability development support approved and/or distributed by IBA specifically for the benefit of Aboriginal and Torres Strait Islander people.", "target": ">45 out of 100", "latest_result": "Distributing more than $389 million through capital and capability development activities.", "status": "Achieved", "target_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "target_source_page": 41, "result_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf", "result_source_page": 41 }, { "code": "PM4", "measure": "Reported levels of Aboriginal and Torres Strait Islander financial wellbeing.", "target": "Expected performance results: >45 out of 100", "latest_result": "89% of IBA’s operating budget was self-funded.", "status": "Achieved", "target_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "target_source_page": 41, "result_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf", "result_source_page": 41 }, { "code": "PM5", "measure": "Reported levels of positive impacts of IBA’s activities by Aboriginal and Torres Strait Islander people.", "target": "Expected performance results: >45 out of 100", "latest_result": "Distributing more than $389 million through capital and capability development activities.", "status": "Achieved", "target_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "target_source_page": 41, "result_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf", "result_source_page": 41 }, { "code": "PM8", "measure": "Average conversion rate of demand into a home, business or investment outcome.", "target": ">43%", "latest_result": "86.6% of home loan customers", "status": "Achieved", "target_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "target_source_page": 41, "result_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf", "result_source_page": 41 }, { "code": "PM9", "measure": "Total rate of efficiency of IBA in achieving its purpose (cost to income ratio).", "target": "<69%", "latest_result": "<69%", "status": "Achieved", "target_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf", "target_source_page": 41, "result_source_url": "https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf", "result_source_page": 41 } ], "document_alignment_terms": { "must_support": [ "To assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency. To advance the commercial and economic interests of Aboriginal persons an", "Future Made in Australia", "developing Northern Australia", "the clean energy transition", "gender equality and women’s economic empowerment", "social impact investing and leveraging government investment" ], "watch_terms": [ "Total annual number of Aboriginal and Torres Strait Islander people provided with access to capability building, knowledge and networks directly by IBA and indirectly through partnerships.", "Total annual sum of capital and capability development support approved and/or distributed by IBA specifically for the benefit of Aboriginal and Torres Strait Islander people.", "Reported levels of Aboriginal and Torres Strait Islander financial wellbeing.", "Reported levels of positive impacts of IBA’s activities by Aboriginal and Torres Strait Islander people.", "Average conversion rate of demand into a home, business or investment outcome.", "Total rate of efficiency of IBA in achieving its purpose (cost to income ratio)." ], "avoid_claiming_without_evidence": [] }, "review_note": "" }, "strategy_brief_md": "# Indigenous Business Australia — Strategy Brief\n\n**Reporting period**: 2024-25\n**Corporate plan in force**: 2025-26\n**Annual Report**: [2024-25](https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf)\n**Corporate Plan**: [2025-26](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)\n\n## Our purpose / purposes\n\n> To assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency. To advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and using a substantial capital asset for the benefit of Aboriginal and Torres Strait Islander peoples. [CP p.10](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=10) [[CP p.10](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=10)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=10)]\n\n## How we deliver\n\n> We walk with Aboriginal and Torres Strait Islander people, their families, businesses, and communities to achieve financial independence, economic self-sufficiency, and long-term, positive impacts. Over time, we have supported thousands of Aboriginal and Torres Strait Islander people into home and business ownership, and hundreds of organisations to invest and build a future for their communities. [AR p.11](https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=11)\n\n## Government priorities for this department\n\n- Future Made in Australia [[CP p.32](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)]\n- developing Northern Australia [[CP p.32](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)]\n- the clean energy transition [[CP p.32](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)]\n- gender equality and women’s economic empowerment [[CP p.32](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)]\n- social impact investing and leveraging government investment [[CP p.32](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=32)]\n\n## Outcomes\n\n### Outcome 1: Improved economic inclusion and participation\nTo enhance the financial wellbeing and independence of Aboriginal and Torres Strait Islander people through distribution of home and business finance, access to wealth generating opportunities and capability development activities. [CP p.10](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=10) [[CP p.10](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=10)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=10)]\n\n**Key activities:**\n- distribution of home and business finance\n- access to wealth generating opportunities\n- capability development activities\n\n## Values and principles\n\n_IBA Values_\n\n- Responsive\n- Informed\n- Connected\n- Invested\n- Respectful\n\n## What they will measure themselves on this year (targets from 2025-26 corporate plan)\n\n| Code | Measure | Target | Source |\n|---|---|---|---|\n| PM1 | Total annual number of Aboriginal and Torres Strait Islander people provided with access to capability building, knowledge and networks directly by IBA and indirectly through partnerships. | >45 out of 100 | [CP p.41](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41) |\n| PM2 | Total annual sum of capital and capability development support approved and/or distributed by IBA specifically for the benefit of Aboriginal and Torres Strait Islander people. | >45 out of 100 | [CP p.41](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41) |\n| PM4 | Reported levels of Aboriginal and Torres Strait Islander financial wellbeing. | Expected performance results: >45 out of 100 | [CP p.41](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41) |\n| PM5 | Reported levels of positive impacts of IBA’s activities by Aboriginal and Torres Strait Islander people. | Expected performance results: >45 out of 100 | [CP p.41](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41) |\n| PM8 | Average conversion rate of demand into a home, business or investment outcome. | >43% | [CP p.41](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41) |\n| PM9 | Total rate of efficiency of IBA in achieving its purpose (cost to income ratio). | <69% | [CP p.41](https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf#page=41) |\n\n## How they performed last year (results from 2024-25 annual report)\n\n| Code | Measure | Result | Status | Source |\n|---|---|---|---|---|\n| PM1 | Total annual number of Aboriginal and Torres Strait Islander people provided with access to capability building, knowledge and networks directly by IBA and indirectly through partnerships. | 89% of IBA’s operating budget was self-funded. | Not achieved | [AR p.41](https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41) |\n| PM2 | Total annual sum of capital and capability development support approved and/or distributed by IBA specifically for the benefit of Aboriginal and Torres Strait Islander people. | Distributing more than $389 million through capital and capability development activities. | Achieved | [AR p.41](https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41) |\n| PM4 | Reported levels of Aboriginal and Torres Strait Islander financial wellbeing. | 89% of IBA’s operating budget was self-funded. | Achieved | [AR p.41](https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41) |\n| PM5 | Reported levels of positive impacts of IBA’s activities by Aboriginal and Torres Strait Islander people. | Distributing more than $389 million through capital and capability development activities. | Achieved | [AR p.41](https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41) |\n| PM8 | Average conversion rate of demand into a home, business or investment outcome. | 86.6% of home loan customers | Achieved | [AR p.41](https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41) |\n| PM9 | Total rate of efficiency of IBA in achieving its purpose (cost to income ratio). | <69% | Achieved | [AR p.41](https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41)(https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf#page=41) |", "strategy_overview_evidence_md": null, "internal_strategy_evidence_md": "# Indigenous Business Australia - Strategy, Performance, and Operating Profile\n\n**Generated at**: 2026-05-09T21:52:05.678993+00:00\n**Entity ID**: O-000912\n**Entity type**: Corporate Commonwealth Entity\n**Jurisdiction**: Commonwealth\n**Portfolio**: Prime Minister and Cabinet\n**Website**: http://www.iba.gov.au\n\n> Draft generated from scraped source material. Treat this as an evidence pack for editorial review, not a final judgement.\n\n## Source Coverage\n\n| Source type | Count |\n|---|---:|\n| annual-reports | 5 |\n| corporate-plans | 5 |\n| global-intelligence | 3 |\n| other-pdfs | 5 |\n| pages | 41 |\n| strategies | 3 |\n\n## Executive Readout\n\n### Purpose\n\n- Impacts include:\n(Output, qualitative measure)\nWe are exploring opportunities to move to an • financial knowledge\neffectiveness measure in the future. • skills and expertise\nExpected performance results • sense of purpose\n• self-confidence\n2025–26 2026–27 2027–28 2028–29\n• financial security and empowerment\nImpact Impact Impact Impact • improved quality of life\nreport report report report\n• supporting family\npublished published published published\n• fulfilling community objectives.\n Source: `corporate-plans/2025-26.pdf (https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)`\n- [Page 46]\nPerformance Measure 7 Performance Measure 8\nTotal proportion of Aboriginal and Torres Strait Average conversion rate of demand into a home,\nfirst home buyers. business or investment outcome.\n(Effectiveness, qualitative measure) (Effectiveness, quantitative measure)\nExpected performance results Expected performance results\n2025–26 2026–27 2027–28 2028–29 2025–26 2026–27 2027–28 2028–29\n80% 80% 80% 80% >43% >43% >44% >44%\nDescription and link to our purpose Description and link to our purpose\nHome ownership is increasingly recognised by This performance measure shows how effective\nAboriginal and Torres Strait Islander people as an IBA’s activities are in assisting Aboriginal and\nimportant pathway to building financial security Torres Strait Islander people through home and\nfrom one generation to the next.\n Source: `corporate-plans/2025-26.pdf (https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)`\n- [pages 22,23,24,25]\ntion.\nand policy frameworks will continue to evolve\nA key priority for IBA is alignment with the over 2024 to consider additional reform actions\nNational Agreement on Closing the Gap and initiatives to ensure First Nations people have\n(National Agreement), which outlines 17 socio- access to culturally safe, appropriate and fit for\neconomic outcome areas that have an impact purpose education, training and employment\non life outcomes for Aboriginal and Torres Strait programs and the tailored supports they need to\nIslander people. participate in well-paid and secure jobs, including\nthrough improved outcomes for Indigenous youth.’\nOwning a home or starting, growing, or buying a\nbusiness are powerful pathways to prosperity.\n Source: `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)`\n- These\n• the link between our purpose, as set out\nperformance measures will continue to move us\nin the ATSI Act\ncloser to long-term change and positive impact.\n• the links between our single portfolio outcome\nIn this Annual Performance Statement, we\nand related performance measures as\nare reporting on four of the nine performance\npresented in our 2023–24 Corporate Plan and\nmeasures (1, 2, 3, and 7).\n Source: `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)`\n\n### Role and Functions\n\n- Portfolio Budget Statement archives\n2025-2026 Portfolio Budget Statements\n2024-2025 Portfolio Budget Statements\n2023-2024 Portfolio Budget Statements\n2022-2023 Portfolio Budget Statements\n2021-2022 Portfolio Budget Statements\n2020-2021 Portfolio Budget Statements\n2019-2020 Portfolio Budget Statements\nread more\nLEGISLATIVE FRAMEWORK\nIBA’s principal legislative basis sets out its purpose, powers, functions, administrative and operational arrangements.\n Source: `pages/announcements-index.html (https://www.iba.gov.au/about-us/governance/portfolio-budget-statements/)`\n- 17 December 2024, and Darren Godwell from\nThe Audit and Risk Committee’s role is to advise 18 December 2024.\nthe Board on the appropriateness of IBA’s:\nFinance, Investment and\n• risk and compliance framework\nProducts Committee\n• financial statements\n• performance reporting responsibilities The Finance, Investment and Products\nCommittee monitored and reviewed the\n• systems of internal control.\ngovernance of IBA’s investments, products and\nCommittee members: transactions.\n Source: `annual-reports/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf)`\n- This performance measure is designed to track\nExpected performance results\nchanges over time, accounting for annual increases\nbased on historical data and demand, and\n2025–26 2026–27 2027–28 2028–29 accounting for natural movements in IBA’s portfolio\nand unplanned market demand responses.\n$391.0 $297.5 $306.7 $307.6\nmillion million million million Methodology\nWe calculate the annual total (in dollar value)\nDescription and link to our purpose\nof capital and capability development support\napproved or distributed by IBA for the benefit of\nThis performance measure provides information\nAboriginal and Torres Strait Islander people.\n Source: `corporate-plans/2025-26.pdf (https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)`\n- To assist preparation for home ownership, Pages 18-25 show IBA’s achievements against the\nwe’ve run 73 workshops attended by 611 participants, targets set in the Portfolio Budget Statements for\nboth online and face-to-face. our Housing Solutions division which measures our\ndelivery against our purpose in 2020–21.\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- In\nbusiness loan customers\naddition to this special assistance, we continued\n‘business as usual’, delivering 355 finance products • value of business finance approved\nvalued at $52.4 million, and 465 different forms of\n• number of people attending business\nbusiness support and skills development.\ncapability workshops\nWe wanted businesses to continue building capability\n• percentage of business customers satisfied or\nand expertise whatever their circumstances or\nvery satisfied with IBA’s service\nlocation, so we moved a series of training and skill\ndevelopment opportunities online, including: • cost per dollar lent business loan efficiency ratio.\n• our ‘Business Essentials’ workshops – a series These performance measures are sourced from IBA’s\nthat builds business acumen and prepares Corporate Plan 2020–21 and the Portfolio Budget\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- Both the IPF Growth Fund and\nthe IPF Income Fund posted strong total net returns • five-year average annual portfolio return to\nto IBA and 34 Indigenous co-investors of 23.7% and Indigenous co-investors\n6.6% respectively for the 2021 financial year, and\n• number of Indigenous co-investor partnerships\nas a result exceeded their respective return on\n(cumulative since 1 July 2015)\ninvestment objectives.\n• value of goods and services procured from\nCOVID-19 provided significant challenges and\nIndigenous suppliers by IBA’s subsidiaries and\nopportunities for the tourism and hospitality sector\nassociates\ntoo.\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n\n### Strategic Priorities\n\n- [Page 7]\nContents\n2 7 15\nFOREWORD PART 01: PART 02:\nMessage from Overview of Policy environment\nour Chair our purpose and and our priorities\nkey activities\n25 59 83\nPART 03: PART 04: PART 05:\nProgress towards Performance and People, governance,\nour Corporate sustainability report and risk report\nPlan 2023–24 and\n2028 Strategy\n115 1 67\nPART 06: PART 07:\nFinancial report Appendices\n Source: `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)`\n- [pages 32,33,34,35,36]\nnderstand what is\nacceptable risk-taking to achieve strategic priorities.\n Source: `corporate-plans/2025-26.pdf (https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)`\n- Our strategic goals set out our priorities and their associated outputs.\n& IBA VISION\nGOAL 1 GOAL 2 GOAL 3 GOAL 4\nSTRATEGIC GOALS\nCHOICE INCLUSION PROSPERITY EXCELLENCE\nIBA’s purpose is achieved through the delivery of key activities.\n Source: `corporate-plans/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2024/08/IBA-Corporate-Plan-2024-25.pdf)`\n- 2028 strategy and key activities 15\nOperating context 19\nKey challenges 19\nFinancial sustainability 20\nRisk oversight and management 20\nCapability and co-operation 23\nPeople and learning 25\nTechnology 24\nPartnerships and stakeholders 27\nSubsidiaries (where applicable) 29 and 47\nPerformance\n• Performance measures 33\n• Targets for each performance measures\n49\n Source: `corporate-plans/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2023/04/IBA-CorporatePlan_2023-24_FINAL.pdf)`\n- [Page 5]\nContents\nIntroduction b\nPurpose 4\nKey activities we will undertake to achieve our purpose 6\nOperating context 13\nPerformance 36\nAppendices 48\n Source: `corporate-plans/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2024/08/IBA-Corporate-Plan-2024-25.pdf)`\n- This includes setting\nregular Executive Committee • communicate IBA’s plans and the organisation’s risk appetite to understand what is\nstrategy sprints capabilities. acceptable risk-taking to achieve strategic priorities.\n• engage with the Board specifically IBA has a comprehensive approach\nRisk Management Framework: The purpose of IBA’s Risk\nin targeted strategy discussions at to risk management to help\nManagement Framework is to create and protect value by\nleast twice a year manage risks, as they arise, so\nintegrating risk management into our work and functions,\nwe can undertake key activities\n• have fortnightly Executive including the activities set out in the corporate plan.\nto achieve IBA’s purposes.\n Source: `corporate-plans/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2024/08/IBA-Corporate-Plan-2024-25.pdf)`\n- Use customer\n1,400 of the potential customers for one or more home loan products experience and develop resilience complaints and feedback to drive\nwere ready to take action that led\n• fall within relevant income with support from and in improvements.\nto a home loan, business finance\npartnership with IBA (Measure 4).\nproduct, or direct investment thresholds to make them eligible • Continue to track and report\nopportunity. for an IBA home lending product. • Deliver IBA’s customer impact business customer satisfaction\nIn our 2023-24 corporate plan, to For the 2024–25 reporting period, IBA has reports to inform an appropriate levels at 80% as required in the\nhelp IBA undertake our key activities set the following performance targets: financial wellbeing index and contract between IBA and NIAA.\nconfirm the contribution IBA\nand achieve our purposes, we set a\n Source: `corporate-plans/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2024/08/IBA-Corporate-Plan-2024-25.pdf)`\n- Key activities we will undertake to achieve our purpose 6\nOperating context\n• the environment in which the entity will operate 13-17\n• the strategies and plans the entity will implement to have the capability it needs to undertake its key 30-32\nactivities and achieve its purposes\n• a summary of the risk oversight and management systems of the entity, and the key risks that the\n13-17\nentity will manage and how those risks will be managed\n• details of any organisation or body that will make a significant contribution towards achieving the 21, 25, 28, 29,\nentity’s purposes through cooperation with the entity, including how that cooperation will help achieve Appendix A\nthose purposes\n28, 29,\n• how any subsidiary of the entity will contribute to achieving the entity’s purpose\nAppendix A\nPerformance\n• Performance measures 36-47 and\n• Targets for each performance measures 49-51\n52\n Source: `corporate-plans/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2024/08/IBA-Corporate-Plan-2024-25.pdf)`\n- Item Topic Matters to be included Pages\n1 Introduction (a) a statement that the plan is prepared for paragraph 35(1)(b) of 5\nthe PGPA Act\n(b) the reporting period for which the plan is prepared\n(c) the reporting periods covered by the plan\n2 Purpose The purposes of the entity 6–7\n3 Key activities For the entire period covered by the plan, the key activities that the 10–11\nentity will undertake in order to achieve its purposes.\n Source: `corporate-plans/2025-26.pdf (https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)`\n- 4 Operating (a) the environment in which the entity will operate 18–19\ncontext\n(b) the strategies and plans the entity will implement to have 20–23\nthe capability it needs to undertake its key activities and achieve\nits purposes\n(c) a summary of the risk oversight and management systems of 24–25\nthe entity, and the key risks that the entity will manage and how\nthose risks will be managed\n(d) details of any organisation or body that will make a significant 28–29\ncontribution towards achieving the entity’s purposes through\ncooperation with the entity, including how that cooperation will\nhelp achieve those purposes\n(e) how any subsidiary of the entity will contribute to achieving the 30\nentity’s purposes\n5 Performance For each reporting period covered by the plan, details of how the 31–39\nentity’s performance in achieving the entity’s purposes will be\nmeasured and assessed through:\n Source: `corporate-plans/2025-26.pdf (https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)`\n\n## KPIs, Targets, and Where They Are At\n\n- Measure Our 2023–24 target Performance result\n4 Annual reported Establish baseline Achieved\nlevels of resilience and\nA methodology for\nfinancial wellbeing\nmeasuring financial\nwellbeing was\ndeveloped in 2023–24\nand a target will be\npiloted, tested, and\nvalidated in 2024–25\n5 Social and financial Deliver comprehensive Partially achieved*\nimpact and returns to impact study\n2023 Impact Report\nAboriginal and Torres\nlaunched in April\nStrait Islander people,\n2024, positive impact\norganisations and\nreported\nbusinesses\n6 Launch ESG Strategy Launch ESG Strategy Partially achieved*\nand establish a\nESG Strategy\nbaseline measure and\ndeveloped in 2023–24\ntarget\n*Partially achieved result is greater than 75% of the performance measure.\n Source: `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)`\n- 144\nPerformance Year Target Results Achieved\n2020–21 $200m $167.3m \n2019–20 $200m $166.1m \n2018–19 $220m $242.4m \n2017–18 $175m $312.2m \nAnalysis We exceeded the previous year’s result, but the performance measure for home ownership outcomes in value\n($167.3m) fell short of the annual target by $32.7m (16%).\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- Table 4: Performance measures scorecard 2023–24\nPerformance measure Expected Actual Result\nresult result against\ntarget\n1 Total annual number of Aboriginal and 1,350 3,829 Achieved\nTorres Strait Islander people provided with\naccess to capability building, knowledge\nand networks directly by IBA and indirectly\nthrough partnerships\n2 Total annual number of Aboriginal and 2,000 2,681 Achieved\nTorres Strait Islander people provided\nwith an IBA product or the opportunity\nto access the economy through a job or\nprocurement opportunity\n3 Total annual sum of capital and capability $275 million $364.7 million Achieved\ndevelopment support distributed by IBA\nspecifically for the benefit of Aboriginal\nand Torres Strait Islander people\n7 Total proportion of Aboriginal and Torres 80% 88% Achieved\nStrait Islander first home buyers\n*PBS measures only\n63\n Source: `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)`\n- 144\nPerformance Year Target Results Achieved\n2020–21 4.5% 7.4% \n2019–20 4.5% 4.8% \n2018–19 4.5% 6.4% \n2017–18 4.5% 7.2% \nAnalysis We have achieved the target for the performance measure in transitioning our customers to mainstream\nlenders, supporting 7.4% (392 customers) in this journey and demonstrating consistent achievement in this\nmeasure over time.\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- 144\nPerformance\nYear Target Results Achieved\n2020–21 60 56 \nAnalysis As with Measure 12 above, this performance measure was impacted by COVID-19-induced uncertain economic\nconditions.\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- 172\nPerformance Year Target Results Achieved\n2021–22 560 461 \n2020–21 N/A 448 -\n2019–20 N/A 454 -\n2018–19 N/A 688 -\nAnalysis The performance measure for home ownership outcomes in number (461) fell short of the annual target by 99\n(17.68 per cent).\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- 172\nPerformance Year Target Results Achieved\n2021–22 Less than 1.11% 0.96% \nMeasure to be piloted\n2020–21 and target to be Target was developed \nand piloted\ndeveloped\n2019–20 - - -\n2018–19 - - -\nAnalysis For 2021–22, we introduced a new performance measure for determining the cost efficiency of our program\ndelivery.\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- 173\nPerformance Year Target Results Achieved\n2021–22 Less than 10% 8.5% \nMeasure to be\n2020–21 piloted and target to Target was developed \nand piloted\nbe developed\n2019–20 - - -\n2018–19 - - -\nAnalysis For 2021–22, IBA introduced a new performance measure for gauging program delivery efficiency, with a\npositive efficiency measure being delivered.\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- 173\nPerformance Year Target Results Achieved\n2021–22 Less than 3% 1.50% \n2020–21 Less than 3% 1.60% \n2019–20 - - -\n2018–19 - - -\nAnalysis This performance measure demonstrates our efficiency in undertaking investment activities that contribute\nto IBA’s purpose.\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- 167\nPerformance Year Target Results Achieved Trend\nyear-on-year\n2022–23 500 465 No + 4\n2021–22 560 461 No + 13\n2020–21 5004 448 NA - 6\n2019–20 5005 454 NA - 234\n2018–19 5006 688 NA NA\nAnalysis The performance measure for home ownership outcomes in number (465) fell short\nof the annual target by 35 (7%).\n Source: `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)`\n- 169\nPerformance Year Target Results Achieved Trend year-on-year\n2022–23 Less than 8.30% Yes - 0.20%\n10%\n2021–22 Less than 8.50% Yes NA\n10%\n2020–21 Measure to Target was Yes NA\nbe piloted developed\nand target to and piloted.\nbe developed\n2019–20 NA NA NA NA\n2018–19 NA NA NA NA\nAnalysis We have met the program efficiency target for 2022–23, improving on the\n2021–22 result by 0.20%.\n Source: `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)`\n- 169\nPerformance Year Target Results Achieved Trend year-on-year\n2022–23 70 70 Yes + 5\n2021–22 65 65 Yes + 9\n2020–21 60 56 No NA\n2019–20 NA NA NA NA\n2018–19 NA NA NA NA\nAnalysis As with Measure 12, this performance measure was challenged by broader market\nconditions.\n Source: `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)`\n- 169\nPerformance Year Target Results Achieved Trend year-on-year\n2022–23 Less than 3% 1.70% Yes + 0.20%\n2021–22 Less than 3% 1.50% Yes - 0.10%\n2020–21 Less than 3% 1.60% Yes NA\n2019–20 NA NA NA NA\n2018–19 NA NA NA NA\nAnalysis This performance measure was introduced to demonstrate our efficiency in\nundertaking investment activities that contribute to IBA’s purpose.\n Source: `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)`\n- Measure Our 2023–24 target Performance result\n7 Total proportion of 80% Exceeded\nAboriginal and Torres\n88%\nStrait Islander first\nhome buyers\n8 Average conversion Establish baseline Achieved\nrate from enquiry into\nA methodology for\na home, business or\nmeasuring conversion\ninvestment outcome\nwas developed in\n2023–24.\n Source: `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)`\n\n## Key Metrics\n\n| Values found | Evidence | Source |\n|---|---|---|\n| $24.7 million, $2.1 billion, $121 million, $370.8 million, $342.6 million, 24.7 million | IBA’s\nexpenses decline by $24.7 million. net assets of $2.1 billion were $121 million higher\nthan in 2021–22, driven by retained earnings, equity,\nTotal income declined from $370.8 million to\nappropriation from government and a net increase\n$342.6 million, driven by significantly less revenue\nin First Nations investor participation.\nfrom the unwinding of concessional discounts\ndriven by a remarkable decline in repayments\nand discharges on the pri | `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)` |\n| $22.9 million, $56.3 million, $9.5 million, $185.2 million, 22.9 million, 56.3 million | Financial statements for the\nin the 2020 Federal Budget and receivable New Housing Fund are provided separately under\nover 3 years Note 14.\n– $22.9 million equity injection for providing\nThe Australian Accounting Standards require that\nother home loans\nIBA’s financial assets be recorded at their fair value:\n• $56.3 million in First Nations investor participation\n• loans relating to the housing and business loan\n• $9.5 million in appropriations po | `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)` |\n| $22.85 million, $14.8 million, $9.4 million, $217.7 million, 22.85 million, 14.8 million | It is then received as at 30 June 2023) to fund\nincluded in the Commonwealth Portfolio Budget regional construction home lending\nStatements and Portfolio Additional Estimates\n− $22.85 million equity injection for\nstatements process in the PM&C portfolio.\nproviding other home loans\nTo expand our impact and deliver more outcomes,\nwe receive annual appropriations and capital • $14.8 million in First Nations\ninjections from government. investor parti | `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)` |\n| $2 million, 2 million | Income (continued)\nConsolidated Consolidated\n2025 2024\n$'000 $'000\nNote 3F: Other gains\nChange in fair value of non-financial assets 9,858 8,945\nChange in fair value of financial assets - 10,003\nTotal other gains 9,858 18,948\nNote 3G: Revenue from Government\nDepartment of Prime Minister and Cabinet\nCorporate Commonwealth Entity payment item 9,885 9,420\nTotal revenue from Government 9,885 9,420\nAn appropriation of $2 million has not been drawn dow | `annual-reports/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf)` |\n| $70.9 million, $3.4 million, 70.9 million, 3.4 million | We pursue better in 2025–26.\npractice with evolving laws and policies set by the\nIt should be noted that in the 2025–26 Budget,\nAustralian Government such as the:\nIBA received:\n• Commonwealth Risk Management Policy\n• $70.9 million over two years to increase\n• Australian Public Service (APS) Net Zero Policy opportunities for First Nations Australians\n• Modern Slavery Act 2018 to buy their own home\n• Unfair Contract Terms 2023 • $3.4 million over t | `corporate-plans/2025-26.pdf (https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)` |\n| $11.8 million, $22.9 million, $27.5 million, 11.8 million, 22.9 million, 27.5 million | We are committed to equipping our\nprojects and transactions. staff, customers, and stakeholders with the\ntools needed to navigate economic risks and\nOver the 2025–26 financial year, the capital\ncapitalise on growth opportunities.\ninjections we have available to meet demand\nand finance our operations include: Table 2 identifies the key challenges and changes\n• an annual appropriation of $11.8 million of in our operating environment and how IBA\nfun | `corporate-plans/2025-26.pdf (https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)` |\n| $22.9 million, $9.5 million, $159.3 million, 22.9 million, 9.5 million, 159.3 million | Financial\nover three years statements for the New Housing Fund are provided\nseparately under Note 15.\n– $22.9 million equity injection for providing\nother home loans The AASs require that IBA’s financial assets be\nrecorded at their fair value:\n• $9.5 million in appropriations\n• Loans relating to the housing and business loan\n• $159.3 million from self-generated revenue\nportfolios are issued at concessional interest rates\n– mostly interest earning | `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)` |\n| $30.8 million, $41.6 million, $18.75 million, $150 million, 30.8 million, 41.6 million | [Page 33]\nFunding: managing capital\nto meet customer demand\nOur operations were mainly financed by: In 2022–23, IBA received:\n• self-generated revenue from interest on home • $30.8 million in grant receipts\nand business loans\n• $41.6 million in Commonwealth\n• returns from investment portfolios capital injections:\n• funding from government.\n− $18.75 million of $150 million (all\nOur Board approves our budget. | `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)` |\n| $40.8 million, $315,000 , 40.8 million | Navigating business • $40.8 million directly to new and existing\nownership in a post-pandemic environment business customers through the IBRP to\ncoupled with uncertain economic conditions support them through the pandemic\nrequired greater focus and attention to the needs\n• 63 grants valued at $315,000 to flood-impacted\nof our customers and the sector more broadly.\nbusiness loan customers\nThese were our key challenges in 2022–23:\n• stable interest | `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)` |\n| $263.4 million, $288.1 million, $2.2 billion, $123 million, $78.9 million, $81.7 million | [Page 122]\nFinancial results\nIBA’s financial statements are presented on a Total expenses of $263.4 million decreased from\nconsolidated basis including subsidiaries, which the prior year’s $288.1 million, primarily as a result\noperate businesses across: of write-downs in the prior year on investments\nheld by the Indigenous Prosperity Funds that were\n• tourism\nimpacted by COVID-19.\n• renewables\nOffsetting that decline was a positive fair value\n• r | `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)` |\n| $27.5 million, $22.9 million, $9.4 million, $340.2 million, 27.5 million, 22.9 million | [Page 62]\nManaging capital to meet demand\nOur operations were mainly financed by: In 2023–24, IBA received:\n• self-generated revenue from interest on home • $27.5 million in grant receipts\nand business loans\n• $22.9 million in Commonwealth\n• returns from investment portfolios capital injections\n• funding from government. • $9.4 million in appropriations\nOur Board approves our budget and • $340.2 million from self-generated revenue\nperformance mea | `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)` |\n| $4.9 million, $272.5 million, $230.5 million, $42 million, $37.3 million, $2.4 billion | A\nfurther $4.9 million uplift came from increased\n• unwinding of concessional discount\ndividends received across the investment portfolio.\n• concessional loan discount\nThis result highlights IBA’s ongoing commitment\n• change in fair value of assets. to financial sustainability and its ability to deliver\nlong-term value for Indigenous Australians through\nTotal expenses for the financial year decreased\nsound investment and operational practices.\nfr | `annual-reports/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf)` |\n| $35.8 million, $35.8\n, $15\n, $9.6 million, $15 million, $22.85 million | [Page 42]\nOver the 2024–25 financial year, the Other ways we manage the flow of Figure 4: Flow of capital in FY 2024-25\ncapital injections we have available to capital to meet demand includes:\nmeet current demand includes:\n• self-generated inflows estimated\n• an annual appropriation of to be $35.8 million in 2024-25 $35.8\n$15\n$9.6 million in government funding M M\n• contributions from Aboriginal and\nto cover some of the costs of\nTorres Strait Isl | `corporate-plans/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2024/08/IBA-Corporate-Plan-2024-25.pdf)` |\n| $344.1 million, $370.8 million, $288.1 million, $238.9 million, 344.1 million, 370.8 million | [Page 97]\nFINANCIAL RESULTS Total income increased from $344.1 million to\n$370.8 million, driven by revenue from the\nIBA’s financial statements are presented on a unwinding of concessional discounts on record\nconsolidated basis with its subsidiaries, which operate repayments and discharges as customers\nbusinesses across: refinanced in commercial market, freeing up\ncapital for future First Nations borrowers.\n• tourism\nTotal expenses of $288.1 mill | `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)` |\n| $9.4 million, $217.7 million, 9.4 million, 217.7 million | [pages 34,35,36,37,38,39,40,41]\nbase of the IBA group is made up of: • $9.4 million in appropriations\n• Commonwealth grant and • $217.7 million from self-generated revenue\nappropriation revenue (mostly interest earnings, dividends from\ninvestments, rental receipts from investment\n• investment from First Nations co-investment properties and subsidiaries’ customer contracts).\npartners\nRecycling our capital and profits from housing and\n• self-genera | `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)` |\n| $200m, $167.3m, $166.1m, $220m, $242.4m | 144\nPerformance Year Target Results Achieved\n2020–21 $200m $167.3m \n2019–20 $200m $166.1m \n2018–19 $220m $242.4m \n2017–18 $175m $312.2m \nAnalysis We exceeded the previous year’s result, but the performance measure for home ownership outcomes in value\n($167.3m) fell short of the annual target by $32.7m (16%). | `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)` |\n| $275 million, $364.7 million, 275 million, 364.7 million | Table 4: Performance measures scorecard 2023–24\nPerformance measure Expected Actual Result\nresult result against\ntarget\n1 Total annual number of Aboriginal and 1,350 3,829 Achieved\nTorres Strait Islander people provided with\naccess to capability building, knowledge\nand networks directly by IBA and indirectly\nthrough partnerships\n2 Total annual number of Aboriginal and 2,000 2,681 Achieved\nTorres Strait Islander people provided\nwith an IBA product | `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)` |\n| 17.68 per cent | 172\nPerformance Year Target Results Achieved\n2021–22 560 461 \n2020–21 N/A 448 -\n2019–20 N/A 454 -\n2018–19 N/A 688 -\nAnalysis The performance measure for home ownership outcomes in number (461) fell short of the annual target by 99\n(17.68 per cent). | `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)` |\n\n## Key Achievements\n\n- [Page 37]\nHighlights 2024–25\nChoice 4,018\ncustomers provided with Pathways Through\naccess to networks, knowledge, Housing and Pathways\nand capability-building Through Business\nreports released\n2,956\nOver\npeople provided $389\nwith an IBA product,\njob or procurement M distributed through capital or\nopportunity capability development activities\nInclusion\nFirst\n2024\nESG\nImpact\nStrategy Expanded\nfinancial Report\nlaunched education,\ntraining delivered\n& workshops\n107\ncustomers\napproved for a Delivered natural disaster relief grants to:\nshared equity 266 34\nhome loan business finance\nhome loan customers customers\nProsperity Larrakia Development\nCorporation Pty Ltd\n505 now own\n5%\ncustomers assisted to\nbuy their first home\nof the Darwin\nwaterfront precinct\n42 participants attended Piloted business\nan Investor forum in insurance initiative\nBoorloo (Perth) with NRMA\nExcellence\nOur People Platform\n Source: `annual-reports/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf)`\n- Strategic approach Activities and achievements\n4.1 Manage and grow our asset base and Net assets grown to $2.3 billion\nstrengthen our funding model\nEstablished internal treasury function\nand began work on cost efficiency\n4.2 Simplify and modernise our Established project gateway and\nprocesses and systems and bolster commencing process optimisation\nour workforce to continue to deliver a\nChief Information and Technology\ntimely, high-quality, and culturally safe\nOfficer leading work on cyber security\ncustomer experience\nmaturity and technology uplift including\nbedding down the core banking system\nLaunch of learning and development\nstrategy and Indigenous employment\nstrategy\n4.3 Continue to adopt best practice Rollout of and communications about\ngovernance, strategic planning, and risk the 2028 strategy, including stakeholder\n Source: `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)`\n- Strategic approach Activities and achievements\n2.1 Develop and deliver innovative Launched shared equity with\nfinance solutions that address 42 approvals to 30 June 2024\nchallenges relating to housing\nDelivered natural disaster relief grants\naffordability, economic uncertainty, and\nto 113 home loan customers and 18\nmore frequent natural disasters\nbusiness finance customers\n2.2 Pioneer new lending and investment Social Enterprise Partnerships—building\ninitiatives targeting Aboriginal and Torres financial security valued at $2.7 million.\n Source: `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)`\n- Strategic approach Activities and achievements\n3.1 Engage and collaborate with 19 large transactions of business finance\nbusinesses and communities to invest approvals to 17 customers each over $1\nin sustainable commercial ventures that million, valued at $50.8 million.\nreach new markets and diversify and\nPerformance bonds milestone $65.7\ngrow the First Nations economy\nmillion over 6 years\n$48 million invested by Aboriginal and\nTorres Strait Islander organisations in\npartnership with Indigenous Prosperity\nFunds (IPF), Indigenous Real Estate\nInvestment Trust (I-REIT) and Direct\nInvestments\n15 new co-investors, invested in this\nfinancial year\n3.2 Establish new partnerships that MoU with NAB\nchannel finance to First Nations-led\nMoU with EFA\nprojects and commercial enterprises\nReviewed partnerships and sponsorships\nstrategies\n3.\n Source: `annual-reports/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf)`\n- [Page 18]\n–\nOUR PROGRESS AGAINST\nTHE 5 STRATEGIC PILLARS\n–\nIn 2017, IBA commenced development of our current Areas of focus in 2022–23 will include:\nstrategy 2018-2023.\n• strict financial management to meet current and\nLaunched in 2018, it has guided us towards delivering future demand, given that demand is generally\nmore positive impacts across the economic, social structurally higher than IBA’s ability to supply capital\nand cultural aspects of our customers lives whilst\n• investment in and update of our new core IT system,\nlearning and adapting the way we deliver our\ncustomer facing portal and data warehouse to\nproducts and services.\nimprove customer experiences\nIn 2019, the disruption to business as usual and the • investment in the development of staff capability\nimpacts of the pandemic were unavoidable.\n Source: `corporate-plans/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2022/08/IBA-Corporate-Plan-2022_23.pdf)`\n- In 2022–23, the framework\nwill be reviewed and updated to ensure it remains IBA’s key stakeholders are listed at Appendix A.\nrelevant, fit for purpose and reflects an approach that\nPURPOSEFUL PARTNERSHIPS\nGOAL 8 GOAL 9 GOAL 10\nPartnership Partnership 10+ Purposeful\nFramework Strategy Partnerships\nimplemented developed in place\n1188\n Source: `corporate-plans/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2022/08/IBA-Corporate-Plan-2022_23.pdf)`\n- To assist preparation for home ownership, Pages 18-25 show IBA’s achievements against the\nwe’ve run 73 workshops attended by 611 participants, targets set in the Portfolio Budget Statements for\nboth online and face-to-face. our Housing Solutions division which measures our\ndelivery against our purpose in 2020–21.\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- 144\nPerformance Year Target Results Achieved\n2020–21 4.5% 7.4% \n2019–20 4.5% 4.8% \n2018–19 4.5% 6.4% \n2017–18 4.5% 7.2% \nAnalysis We have achieved the target for the performance measure in transitioning our customers to mainstream\nlenders, supporting 7.4% (392 customers) in this journey and demonstrating consistent achievement in this\nmeasure over time.\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- [Page 60]\n54\nAILARTSUA\nSSENISUB\nSUONEGIDNI\n54\nAILARTSUA\nSSENISUB\nSUONEGIDNI\nRICHARD ROY\n(RICK) AH SEE\nALLERT AO\nIBA DIRECTOR; AUDIT, RISK AND IBA DIRECTOR\nPERFORMANCE COMMITTEE (*TERM ENDED 11 JULY 2020)\nCHAIR; FINANCE, INVESTMENT AND\nPERFORMANCE COMMITTEE MEMBER • Wiradjuri man, born and raised on\nNanima Reserve, near Wellington,\n• chartered accountant with many years’ New South Wales\nexperience in the corporate sector\n• qualifications in social welfare, worked\n• Chair, Voyages Indigenous Tourism at various government agencies and\nAustralia Pty Ltd; Chair, Kakadu Tourism Aboriginal community-controlled\n(GLC) Pty Ltd and Kakadu Tourism (GCH) organisations\nPty Ltd; Chair, Cavpower Pty Ltd (Group)\n• Director of the Indigenous Land and\n• 2011 recipient of Ernst & Young Sea Corporation\nChampion of Entrepreneurship Award,\n• former Co-Chair of the Prime Minister’s\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- [Page 20]\n–\nOUR STRATEGY\n–\nIn 2017, IBA commenced development of our current As set out in the 2021–22 portfolio budget statements\nstrategy 2018–23. (PBS) under IBA’s strategic direction statement, key\nareas of focus included:\nLaunched in 2018, it guided us towards delivering\nmore positive impacts across the economic, social and • strict financial management to meet demand,\ncultural aspects of our customers' lives while learning, given that demand has exceeded available\nand adapting the way we delivered our products and capital over the long term\nservices.\n• ensuring customers’ finance needs are met in\nIn 2020, the disruption to business as usual and the an appropriate way\nimpacts of the pandemic were unavoidable.\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- Against the backdrop of\nthe pandemic, multiple natural disasters, geopolitical • continuing to roll out lending to support\ninstability, and stressed markets and economies, Aboriginal and Torres Strait Islander peoples to\nIBA implemented several initiatives to ensure our build new houses in regional Australia under\ncustomers and communities survived. the three-year, $150 million equity injection\nannounced in 2020–21\nIn the 2021–22 financial year, we continued to support\nour customers to stabilise, manage and recover from • understanding structural shifts in the economy\nthe economic impacts of COVID-19. and the impact of regional house prices on IBA’s\nhome lending customer base and what IBA can\nOverall, we remained on track to meet most of our ten\ndo to support these customers\nstrategic goals, noting the disruption caused by the\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- 173\nPerformance Year Target Results Achieved\n2021–22 Less than 10% 8.5% \nMeasure to be\n2020–21 piloted and target to Target was developed \nand piloted\nbe developed\n2019–20 - - -\n2018–19 - - -\nAnalysis For 2021–22, IBA introduced a new performance measure for gauging program delivery efficiency, with a\npositive efficiency measure being delivered.\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n\n## Key Issues, Risks, and Recommendations\n\n- [Page 60]\n54\nAILARTSUA\nSSENISUB\nSUONEGIDNI\n54\nAILARTSUA\nSSENISUB\nSUONEGIDNI\nRICHARD ROY\n(RICK) AH SEE\nALLERT AO\nIBA DIRECTOR; AUDIT, RISK AND IBA DIRECTOR\nPERFORMANCE COMMITTEE (*TERM ENDED 11 JULY 2020)\nCHAIR; FINANCE, INVESTMENT AND\nPERFORMANCE COMMITTEE MEMBER • Wiradjuri man, born and raised on\nNanima Reserve, near Wellington,\n• chartered accountant with many years’ New South Wales\nexperience in the corporate sector\n• qualifications in social welfare, worked\n• Chair, Voyages Indigenous Tourism at various government agencies and\nAustralia Pty Ltd; Chair, Kakadu Tourism Aboriginal community-controlled\n(GLC) Pty Ltd and Kakadu Tourism (GCH) organisations\nPty Ltd; Chair, Cavpower Pty Ltd (Group)\n• Director of the Indigenous Land and\n• 2011 recipient of Ernst & Young Sea Corporation\nChampion of Entrepreneurship Award,\n• former Co-Chair of the Prime Minister’s\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- [Page 59]\n53\nANNUAL\nREPORT\n2020–21\n53\nANNUAL\nREPORT\n2020–21\nEDWARD ANTHONY\n(EDDIE) ASHBY\nFRY\nIBA CHAIR; REMUNERATION AND IBA DEPUTY CHAIR; FINANCE\nNOMINATION COMMITTEE CHAIR INVESTMENT AND PRODUCTS\nCOMMITTEE CHAIR; REMUNERATION\n• Dagoman man from the Katherine AND NOMINATION COMMITTEE\nregion, Northern Territory MEMBER\n• Diploma in Business Management,\n• Gamilaraay-Yuwaalaraay man from\nUniversity of South Australia; graduate of\nnorthwestern New South Wales\nthe International Lead and Zinc\nStudy Group • chartered accountant and registered\ncompany auditor\n• Chair of the Indigenous Land and Sea\nCorporation • Director of the Hunter New England\nCentral Coast Primary Health Network Ltd\n• specialist in Indigenous and native title\nissues as Executive Director, Gimbulki • ex-officio member of the Supply Nation\nResources Ltd, a native title land access Audit and Risk Committee\ncompany;\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- [Page 61]\n55\nANNUAL\nREPORT\n2020–21\n55\nANNUAL\nREPORT\n2020–21\nSHIRLEY CLAIRE\nMCPHERSON WOODLEY\nIBA DIRECTOR; AUDIT, RISK AND IBA DIRECTOR; FINANCE, INVESTMENT\nPERFORMANCE COMMITTEE MEMBER AND PRODUCTS COMMITTEE MEMBER;\nREMUNERATION AND NOMINATION\n• Yamatji and Nyoongar woman from COMMITTEE MEMBER\nthe Perth and Murchison regions of\nWestern Australia • tertiary qualifications in occupational\ntherapy, psychology and project\n• chartered accountant with experience\nmanagement; graduate, Australian\nin program delivery and business\nInstitute of Company Directors\ndevelopment at all levels of government\n• former General Manager, Business\n• Chair of the Kaitijan Mia Mia Aboriginal\nBanking Victoria, Commonwealth Bank\nFoundation\nof Australia\n• Director, Western Australian Biodiversity\n• experience in business banking,\nScience Institute\ngovernance, risk management, strategic\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- [Page 73]\n67\nANNUAL\nREPORT\n2021–22\nANTHONY SHIRLEY\nASHBY MCPHERSON\nIBA DEPUTY CHAIR; FINANCE IBA DIRECTOR; AUDIT, RISK AND\nINVESTMENT AND PRODUCTS PERFORMANCE COMMITTEE MEMBER\nCOMMITTEE CHAIR; REMUNERATION\nAND NOMINATION COMMITTEE • Yamatji and Nyoongar woman from\nMEMBER the Perth and Murchison regions of\nWestern Australia\n• Gamilaraay-Yuwaalaraay man from\n• chartered accountant with experience\nnorth-western New South Wales\nin program delivery and business\n• chartered accountant and registered development at all levels of government\ncompany auditor\n• Chair of the Kaitijan Mia Aboriginal\n• Director of the Hunter New England Foundation\nCentral Coast Primary Health Network Ltd\n• Director, Western Australian Biodiversity\n• Independent Chair of the National Centre Science Institute\nof Indigenous Excellence committee\n• former group manager of Indigenous\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- Navigating business • $40.8 million directly to new and existing\nownership in a post-pandemic environment business customers through the IBRP to\ncoupled with uncertain economic conditions support them through the pandemic\nrequired greater focus and attention to the needs\n• 63 grants valued at $315,000 to flood-impacted\nof our customers and the sector more broadly.\nbusiness loan customers\nThese were our key challenges in 2022–23:\n• stable interest rate settings which helped our\n• inflation remained above the target range customers with affordable and competitive\nof 2 to 3% finance products that were well priced for risk\nand could support capital asset growth.\n• the RBA tightened monetary policy, increasing\nthe cash rate on 10 occasions over the year, from We also created a permanent Natural Disaster\n0.85% on 1 July 2022 to 4.1% on 30 June 2023 Assistance relief budget to:\n Source: `annual-reports/2022-23.pdf (https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf)`\n- [pages 51,52,53,54,55,56]\nby a\n• Security, systems and IT risks. quality assurance framework and internal and external audit review program.\n• Breaches of our code of conduct, values and behaviour We also:\nframework.\n• report risk oversight and management controls to relevant accountable\nauthorities\n• do annual customer and employee surveys to drive continual process\nimprovement and inform the Executive Team of any control weakness.\n Source: `corporate-plans/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2023/04/IBA-CorporatePlan_2023-24_FINAL.pdf)`\n- 2028 strategy and key activities 15\nOperating context 19\nKey challenges 19\nFinancial sustainability 20\nRisk oversight and management 20\nCapability and co-operation 23\nPeople and learning 25\nTechnology 24\nPartnerships and stakeholders 27\nSubsidiaries (where applicable) 29 and 47\nPerformance\n• Performance measures 33\n• Targets for each performance measures\n49\n Source: `corporate-plans/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2023/04/IBA-CorporatePlan_2023-24_FINAL.pdf)`\n- We are committed to equipping our\nprojects and transactions. staff, customers, and stakeholders with the\ntools needed to navigate economic risks and\nOver the 2025–26 financial year, the capital\ncapitalise on growth opportunities.\ninjections we have available to meet demand\nand finance our operations include: Table 2 identifies the key challenges and changes\n• an annual appropriation of $11.8 million of in our operating environment and how IBA\nfunding from government is responding to continue delivering our key\nactivities and ultimately to achieve our purpose.\n• a capital injection of $22.9 million annually\nto finance more housing loans\n• an annual grant funding contribution of\n$27.5 million from the National Indigenous\nAustralians Agency (NIAA) to support the\nbusiness solutions program.\n Source: `corporate-plans/2025-26.pdf (https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf)`\n- TABLE 05: DETAILS OF AUDIT, RISK AND\nPERFORMANCE COMMITTEE MEMBERS\nMember Qualifications, knowledge, skills or experience Meetings attended/ Remuneration\nname (include formal and informal as relevant) Total meetings\nRichard Allert Chartered accountant with many years’ experience in the 10/10 $16,267.94\ncorporate sector\nShirley Chartered accountant with experience in program delivery and 6/10 $8,133.84\nMcPherson business development at all levels of government\nMaria Storti Independent member since September 2014 10/10 $18,000.00\nExperienced senior executive who was a partner in a professional\nservices firm and has held other senior management and\nconsulting roles across the private and public sectors\nVanessa Elliott Experienced government and not-for-profit board director 7/10 $7,789.73\nMore than 20 years’ experience in strategic management,\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- [Page 69]\nFIGURE 12: IBA ORGANISATIONAL CHART AS AT 30 JUNE 2021\nHon Ken Wyatt AM MP\nMinister for Indigenous Australians\nBoard Committees\nIBA Board\nChair, Eddie Fry\nFinance,\nAudit, Risk & Remuneration\nInvestment\nPerformance & Nomination\n& Products\nCommittee Committee\nCommittee\nA/g Chief Executive Officer\nKirsty Moore\nBusiness Government & Products Strategy\nLegal Services Finance\nServices Public Relations & Markets & Innovation\nA/g Executive\nA/g Executive Executive A/g Executive\nDirector Director Director Director General Chief\nBusiness Government & Products & Strategy Counsel Financial\n& Innovation Officer\nServices Public Relations Markets\nJonathan Shanti Rama Tom Hure\nMichael Rose Sean Armistead Faysal Fassi\nKneebone\nDirector\nDirector Director\nInvestment\nBusiness Home\n& Asset\nSolutions Ownership\nManagement\nPeople,\nStrategic Direct Policy, Advocacy Budgets\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- [Page 74]\n68\nAILARTSUA\nSSENISUB\nSUONEGIDNI\nRICHARD CLAIRE\n(RICK) WOODLEY\nALLERT AO\nIBA DIRECTOR; AUDIT, RISK AND IBA DIRECTOR; FINANCE, INVESTMENT\nPERFORMANCE COMMITTEE AND PRODUCTS COMMITTEE MEMBER;\nCHAIR; FINANCE, INVESTMENT AND REMUNERATION AND NOMINATION\nPERFORMANCE COMMITTEE MEMBER COMMITTEE MEMBER\n• chartered accountant with many years’ • tertiary qualifications in occupational\nexperience in the corporate sector therapy, psychology and project\nmanagement; graduate, Australian\n• Chair, Voyages Indigenous Tourism\nInstitute of Company Directors\nAustralia Pty Ltd; Chair, Kakadu Tourism\n(GLC) Pty Ltd and Kakadu Tourism (GCH) • former General Manager, Business\nPty Ltd; Chair, Cavpower Pty Ltd (Group) Banking Victoria, Commonwealth Bank\nof Australia\n• 2011 recipient of Ernst & Young\nChampion of Entrepreneurship Award, • experience in business banking,\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- Dr Valerie Cooms* Director 3/4\nMs Vanessa Elliott Director 8/8\nCOMMITTEES\nMs Rosemary Addis AM Director 8/8\nRichard Callaghan Director 4/4\nThree ongoing committees assist the Board in\nJoshua Gilbert Director 1/1 discharging its functions:\nNote: Figures represent meetings a director attended out of their total\n• Audit, Risk and Performance Committee\npossible.\n* Resigned during the financial year. • Finance, Investment and Products Committee\n• Remuneration and Nomination Committee.\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- TABLE 05: DETAILS OF AUDIT, RISK AND\nPERFORMANCE COMMITTEE MEMBERS\nMember Qualifications, knowledge, skills or experience (include Meetings Remuneration\nname formal and informal as relevant) attended/\nTotal meetings\nRichard Allert Chartered accountant with many years’ experience in the corporate sector 6/6 $16,267.94\nAO\nShirley Chartered accountant with experience in program delivery and business 3/6 $8,133.84\nMcPherson development at all levels of government\nMaria Storti Independent member since September 2014 6/6 $18,342.00\nExperienced senior executive who was a partner in a professional services\nfirm and has held other senior management and consulting roles across\nthe private and public sectors\nVanessa Elliott Experienced government and not-for-profit board director 5/6 $8,133.84\nMore than 20 years’ experience in strategic management, business,\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- [Page 83]\nFIGURE 14: IBA ORGANISATIONAL CHART AS AT 30 JUNE 2022\nHon Linda Burney MP\nMinister for Indigenous Australians\nBoard Committees\nIBA Board\nChair, Eddie Fry\nFinance,\nAudit, Risk & Remuneration\nInvestment\nPerformance & Nomination\n& Products\nCommittee Committee\nChief Executive Officer Committee\nKirsty Moore\nBusiness Government & Products Strategy\nLegal & Risk Finance\nServices Public Relations & Markets & Innovation\nExecutive Executive Executive Executive\nDirector Director Director Director General Chief\nBusiness Government & Products & Strategy Counsel Financial\nOfficer\nServices Public Relations Markets & Innovation\nShanti Rama Dee Garcha\nDamien Coke Sean Armistead Faysal Fassi Kia Dowell\nDirector Director\nDirector\nInvestment Community\nHome\n& Business & Customer\nOwnership\nSolutions Experience\nPeople,\nStrategic Business Direct Quality Policy, Advocacy Budgets\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n\n## Corporate Values and Operating Culture\n\n- [pages 51,52,53,54,55,56]\nby a\n• Security, systems and IT risks. quality assurance framework and internal and external audit review program.\n• Breaches of our code of conduct, values and behaviour We also:\nframework.\n• report risk oversight and management controls to relevant accountable\nauthorities\n• do annual customer and employee surveys to drive continual process\nimprovement and inform the Executive Team of any control weakness.\n Source: `corporate-plans/2023-24.pdf (https://www.iba.gov.au/wp-content/uploads/2023/04/IBA-CorporatePlan_2023-24_FINAL.pdf)`\n- In\nbusiness loan customers\naddition to this special assistance, we continued\n‘business as usual’, delivering 355 finance products • value of business finance approved\nvalued at $52.4 million, and 465 different forms of\n• number of people attending business\nbusiness support and skills development.\ncapability workshops\nWe wanted businesses to continue building capability\n• percentage of business customers satisfied or\nand expertise whatever their circumstances or\nvery satisfied with IBA’s service\nlocation, so we moved a series of training and skill\ndevelopment opportunities online, including: • cost per dollar lent business loan efficiency ratio.\n• our ‘Business Essentials’ workshops – a series These performance measures are sourced from IBA’s\nthat builds business acumen and prepares Corporate Plan 2020–21 and the Portfolio Budget\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- The Audit, Risk and Performance Committee\noversaw the 2020–21 Strategic Internal Audit In 2020–21, there was one transaction in which\nprogram which was delivered by an outsourced IBA provided a grant to a company which was a\ninternal audit service provider. related entity, as defined in the Public Governance,\nPerformance and Accountability Rule 2014.\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- [Page 53]\n47\nANNUAL\nREPORT\n2020–21\n–\nOVERALL IBA\n–\nWhile the above sections focus on IBA’s Housing They are assessed with the following performance\nSolutions, Business Solutions and Investments and measures:\nAsset Management areas, we have several other key\n• value of goods and services procured from\nactivities that sit outside direct products and service\nIndigenous suppliers by IBA\nareas which also make a significant contribution to\nour purpose. • Implementation of IBA’s Impact Framework.\n Source: `annual-reports/2020-21.pdf (https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf)`\n- Note 6B: Reconciliation of the opening and closing balances of Intangible Non-Financial Assets\nConsolidated 2022\nComputer Goodwill Other Total\nSoftware Intangibles\n$’000 $’000 $’000 $’000\nOpening balance\nGross book value 6,656 3,270 8,283 18,209\nAccumulated amortisation and impairment (6,005) - 268 (5,737)\nTotal as at 1 July 651 3,270 8,551 12,472\nAdditions\nBy purchase - - 5,786 5,786\nSoftware implementation costs written off 1 - - (9,530) (9,530)\nAmortisation expense - - (75) (75)\nReclassification - cost (763) - 796 33\nReclassification - accumulated depreciation 278 - (311) (33)\nDisposals - cost (816) - - (816)\nDisposals - accumulated depreciation 816 - - 816\nTotal as at 30 June 166 3,270 5,217 8,653\nNet book value as at 30 June represented by:\nGross book value 5,355 3,270 5,335 13,960\nAccumulated depreciation and impairment (5,189) - (118) (5,307)\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- [Page 159]\n153\nANNUAL\nREPORT\n2021–22\nPGPA Rule Part of Description Requirement\nReference Report\n17BE(n), 17BE(o) Page 78 For transactions with a related Commonwealth entity or related If applicable, mandatory\ncompany where the value of the transaction, or if there is more\nthan one transaction, the aggregate of those transactions, is more\nthan $10,000 (inclusive of GST): (a) the decision-making process\nundertaken by the accountable authority to approve the entity\npaying for a good or service from, or providing a grant to, the related\nCommonwealth entity or related company; and (b) the value of the\ntransaction, or if there is more than one transaction, the number of\ntransactions and the aggregate of value of the transactions\n17BE(p) Page 76 Any significant activities and changes that affected the operation or If applicable, mandatory\nstructure of the entity during the reporting period\n Source: `annual-reports/2021-22.pdf (https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf)`\n- [Page 5]\n—\nSamuel’s journey to home\nownership is a powerful story of\ndetermination and a desire to\nbuild a life for him and his son.\n—\nAcronyms\nAI Artificial Intelligence\nAPS Australian Public Service\nATSI Act Aboriginal and Torres Strait Islander\nAct 2005\nESG Environmental, social, and governance\nILSC Indigenous Land and Sea Corporation\nICT Information and communication\ntechnology\nIT Information technology\nMoU Memorandum of understanding\nNIAA National Indigenous Australians\nAgency\nPBS Portfolio Budget Statements\nPGPA Act Public Governance, Performance\nand Accountability Act 2013\nPM&C Prime Minister and Cabinet\nTSRA Torres Strait Regional Authority\nUN United Nations\n5\n Source: `annual-reports/2024-25.pdf (https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf)`\n- Its findings provide a baseline for enhancing service delivery and effectiveness.\nmini-card, small-h-img\ntrue\nsec-spacing\nsection-none\nsec-spacing-bottom\nsection-padding-between\nstyle\ndefault\nCONNECT\nWITH US\nfalse\nX\nlp-x\nhttps://x.com/wbg_gov\nSubscribe to our monthly newsletter\nWorld Bank Governance Global Department\nThe latest news, publications, and events on institutions, good governance, GovTech, open government, procurement, anticorruption, public finance, accountability & more.\nfalse\nGovernance Update|SVC123\nfalse\nTopic Expert\nArturo Herrera\nhttps://www.worldbank.org/en/about/people/a/arturo-herrera-gutierrez\ndefault alt\nDirector, Governance Global Department, World Bank\nmini-card\nmini-card\nView All Experts\nGovernance Contact\nLara Saade\nlsaade@worldbank.org\nsec-swoosh\nsec-swoosh-type11\nstyle\ngrid, bg-neutrals-20, stay-connected\nsec-spacing\nsection-none\nsec-spacing-bottom\n Source: `global-intelligence/source-text/association-worldbank.org-governance.txt`\n\n## Global Ideas and Case Study Inputs\n\nGlobal source texts are available for later idea synthesis:\n- `global-intelligence/source-text/association-worldbank.org-governance.txt`\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt`\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt`\n\n## Source Artifacts Used\n\n- `corporate-plans/2021-22.pdf` - corporate-plans - https://www.iba.gov.au/wp-content/uploads/2021/08/IBA-Corporate-Plan-2021-22_final-web.pdf\n- `corporate-plans/2022-23.pdf` - corporate-plans - https://www.iba.gov.au/wp-content/uploads/2022/08/IBA-Corporate-Plan-2022_23.pdf\n- `corporate-plans/2023-24.pdf` - corporate-plans - https://www.iba.gov.au/wp-content/uploads/2023/04/IBA-CorporatePlan_2023-24_FINAL.pdf\n- `corporate-plans/2024-25.pdf` - corporate-plans - https://www.iba.gov.au/wp-content/uploads/2024/08/IBA-Corporate-Plan-2024-25.pdf\n- `corporate-plans/2025-26.pdf` - corporate-plans - https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf\n- `annual-reports/2020-21.pdf` - annual-reports - https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf\n- `annual-reports/2021-22.pdf` - annual-reports - https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf\n- `annual-reports/2022-23.pdf` - annual-reports - https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf\n- `annual-reports/2023-24.pdf` - annual-reports - https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf\n- `annual-reports/2024-25.pdf` - annual-reports - https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf\n- `strategies/IBA-Impact-Framework.pdf` - strategies - https://www.iba.gov.au/wp-content/uploads/IBA-Impact-Framework.pdf\n- `strategies/NETZERO.pdf` - strategies - https://www.iba.gov.au/wp-content/uploads/2025/11/NETZERO.pdf\n- `strategies/Strategy-on-a-page_landscape.pdf` - strategies - https://www.iba.gov.au/wp-content/uploads/2025/11/Strategy-on-a-page_landscape.pdf\n- `pages/about.html` - pages - https://www.iba.gov.au/about-us/\n- `pages/announcements-index.html` - pages - https://www.iba.gov.au/about-us/governance/portfolio-budget-statements/\n- `pages/announcements-index__26.html` - pages - https://www.iba.gov.au/about-us/governance/portfolio-budget-statements/feed/\n- `pages/announcements-index__27.html` - pages - https://www.iba.gov.au/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.iba.gov.au%2Fabout-us%2Fgovernance%2Fportfolio-budget-statements%2F\n- `pages/announcements-index__28.html` - pages - https://www.iba.gov.au/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.iba.gov.au%2Fabout-us%2Fgovernance%2Fportfolio-budget-statements%2F&format=xml\n- `pages/announcements-index__29.html` - pages - https://www.iba.gov.au/wp-content/uploads/oxygen/css/universal.css?cache=1778202589&ver=58e734a21e1943e98c1fd09f2670bbfe\n- `pages/annual-reports-index.html` - pages - https://iba.gov.au/about-us/publications/corporate-documents/\n- `pages/annual-reports-index__00.html` - pages - https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf\n- `pages/annual-reports-index__01.html` - pages - https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-AR-2023-24_web.pdf\n- `pages/annual-reports-index__02.html` - pages - https://www.iba.gov.au/wp-content/uploads/2023/10/IBA-2022-23_AnnualReport_web.pdf\n- `pages/annual-reports-index__03.html` - pages - https://www.iba.gov.au/wp-content/uploads/2022/11/IBA-AR-2021-22_web.pdf\n- `pages/annual-reports-index__04.html` - pages - https://www.iba.gov.au/wp-content/uploads/2021/10/IBA-AR-2020-21-FINAL-web.pdf\n- `pages/annual-reports-index__05.html` - pages - https://www.iba.gov.au/wp-content/uploads/IBA-AR-2019-20_web.pdf\n- `pages/annual-reports-index__06.html` - pages - https://www.iba.gov.au/wp-content/uploads/201819-IBA-AR_webcopy-2.pdf\n- `pages/annual-reports-index__07.html` - pages - https://www.iba.gov.au/wp-content/uploads/IBA-2017-18-AR-FINAL-WEB.pdf\n- `pages/annual-reports-index__08.html` - pages - http://www.iba.gov.au/wp-content/uploads/20171023_IBA_AnnualReport_2016_17_web.pdf\n- `pages/annual-reports-index__09.html` - pages - https://www.iba.gov.au/wp-content/uploads/2024/11/IBA-LR-Web-PDF.ƒ-1.pdf\n- `pages/contact.html` - pages - http://www.iba.gov.au\n- `pages/corporate-plans-index.html` - pages - https://iba.gov.au/about-us/publications/corporate-documents/\n- `pages/corporate-plans-index__10.html` - pages - https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf\n- `pages/corporate-plans-index__11.html` - pages - https://www.iba.gov.au/wp-content/uploads/2024/08/IBA-Corporate-Plan-2024-25.pdf\n- `pages/corporate-plans-index__12.html` - pages - https://www.iba.gov.au/wp-content/uploads/2023/04/IBA-CorporatePlan_2023-24_FINAL.pdf\n- `pages/corporate-plans-index__13.html` - pages - https://www.iba.gov.au/wp-content/uploads/2022/08/IBA-Corporate-Plan-2022_23.pdf\n- `pages/corporate-plans-index__14.html` - pages - https://www.iba.gov.au/wp-content/uploads/2021/08/IBA-Corporate-Plan-2021-22_final-web.pdf\n- `pages/corporate-plans-index__15.html` - pages - https://www.iba.gov.au/wp-content/uploads/IBA-Corporate-Plan-2020-21_web-1.pdf\n- `pages/corporate-plans-index__16.html` - pages - https://www.iba.gov.au/wp-content/uploads/IBA-Corporate-Plan-2019-20-web.pdf\n- `pages/corporate-plans-index__17.html` - pages - http://www.iba.gov.au/wp-content/uploads/20170828_IBACP17-18_web.pdf\n- `pages/corporate-plans-index__18.html` - pages - http://www.iba.gov.au/wp-content/uploads/20160831_IBACorporatePlan16-17_web.pdf\n- `pages/corporate-plans-index__19.html` - pages - http://www.iba.gov.au/wp-content/uploads/IBA-2015-16-Corporate-Plan_web.pdf\n- `pages/homepage.html` - pages - http://www.iba.gov.au\n- `pages/media-releases-index.html` - pages - https://www.iba.gov.au/2026/04/iba-media-release-australias-indigenous-led-economy/\n- `pages/media-releases-index__20.html` - pages - https://www.iba.gov.au/wp-content/uploads/2020/09/gathering.png\n- `pages/media-releases-index__21.html` - pages - https://www.iba.gov.au/2026/04/iba-media-release-australias-indigenous-led-economy/\n- `pages/media-releases-index__22.html` - pages - https://www.iba.gov.au/2026/04/iba-media-release-australias-indigenous-led-economy/feed/\n- `pages/media-releases-index__23.html` - pages - https://www.iba.gov.au/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.iba.gov.au%2F2026%2F04%2Fiba-media-release-australias-indigenous-led-economy%2F\n- `pages/media-releases-index__24.html` - pages - https://www.iba.gov.au/wp-json/oembed/1.0/embed?url=https%3A%2F%2Fwww.iba.gov.au%2F2026%2F04%2Fiba-media-release-australias-indigenous-led-economy%2F&format=xml\n- `pages/media-releases-index__25.html` - pages - https://www.iba.gov.au/about-us/governance/portfolio-budget-statements/\n- `pages/news-latest.html` - pages - https://www.iba.gov.au/stories/\n- `pages/publications-index.html` - pages - https://www.iba.gov.au/about-us/publications/\n- `pages/strategies-index.html` - pages - https://www.iba.gov.au/wp-content/plugins/oxygen/component-framework/oxygen.css?ver=4.9.5\n- `pages/structure.html` - pages - https://www.iba.gov.au/about-us/organisational-chart/\n- `global-intelligence/source-text/association-worldbank.org-governance.txt` - global-intelligence - local file\n- `global-intelligence/source-text/consulting-deloitte.com-government-public.txt` - global-intelligence - local file\n- `global-intelligence/source-text/university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt` - global-intelligence - local file\n- `other-pdfs/IBA-Pathways-Business-Factsheet-Final.pdf` - other-pdfs - https://www.iba.gov.au/wp-content/uploads/2024/10/IBA-Pathways-Business-Factsheet-Final.pdf\n- `other-pdfs/IBA-Pathways-Business-Report.pdf` - other-pdfs - https://www.iba.gov.au/wp-content/uploads/2024/10/IBA-Pathways-Business-Report.pdf\n- `other-pdfs/IBA-Pathways-Housing-Factsheet.pdf` - other-pdfs - https://www.iba.gov.au/wp-content/uploads/2024/10/IBA-Pathways-Housing-Factsheet.pdf\n- `other-pdfs/IBA-Pathways-Housing.pdf` - other-pdfs - https://www.iba.gov.au/wp-content/uploads/2024/10/IBA-Pathways-Housing.pdf\n- `other-pdfs/The-Indigenous-Economy-Factsheet_final.pdf` - other-pdfs - https://www.iba.gov.au/wp-content/uploads/2025/08/The-Indigenous-Economy-Factsheet_final.pdf\n\n## Gaps To Fix\n\n- No major source gaps detected by the deterministic checks.", "legislation_md": "# Indigenous Business Australia — Legislation Administered\n\n**Generated**: 2026-05-13T03:01:21+00:00\n**Source**: LLM extraction (nova-micro) from latest annual report and corporate plan\n**Tokens**: 28,788 in / 268 out · cost: $0.00105\n\n> Acts and instruments this entity administers or has primary responsibility for.\n> Excludes generic gov-wide compliance Acts (PGPA, Public Service Act, FOI, Privacy, etc.).\n\n**Source documents fed to the model**:\n- Annual report: `annual-reports\\2024-25.txt`\n- Corporate plan: `corporate-plans\\2025-26.txt`\n\n## 2 laws administered\n\n| Title | Year | Type | What this entity does under it |\n|---|---|---|---|\n| [Aboriginal and Torres Strait Islander Act 2005](https://www.legislation.gov.au/search?query=Aboriginal%20and%20Torres%20Strait%20Islander%20Act%202005) | 2005 | Act | To assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency. To advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and using a substantial capital asset for the benefit of Aboriginal and Torres Strait Islander peoples. |\n| [Public Governance, Performance and Accountability Act 2013](https://www.legislation.gov.au/search?query=Public%20Governance%2C%20Performance%20and%20Accountability%20Act%202013) | 2013 | Act | To prepare a corporate plan each year in accordance with the Act. |", "global_initiatives_md": "# Indigenous Business Australia — Global Initiatives Catalogue\n\n## Focus areas\n- Economic inclusion and participation\n- Home and business finance\n- Capability building and knowledge transfer\n- Gender equality and women’s economic empowerment\n\n## Economic inclusion and participation\n\n### Indigenous Economic Development Program\n**Jurisdiction**: New Zealand\n**Run by**: Māori Economic Development Agency\n**Year**: 2010\n**Status**: Active\n**What it does (2–3 sentences)**: The Māori Economic Development Agency supports Māori businesses through funding, training, and resources to enhance economic participation and self-sufficiency.\n**Why it matters to Australia (1–2 sentences)**: This program offers a model for tailored economic support to indigenous communities, which could be adapted to benefit Aboriginal and Torres Strait Islander peoples in Australia.\n**Find more**: [Māori Economic Development Agency](https://www.google.com/search?q=M%C4%81ori+Economic+Development+Agency)\n\n### Native American Business Development Institute\n**Jurisdiction**: United States\n**Run by**: National Congress of American Indians\n**Year**: 1977\n**Status**: Active\n**What it does (2–3 sentences)**: The institute provides business training, mentoring, and capital access for Native American entrepreneurs to foster economic growth within indigenous communities.\n**Why it matters to Australia (1–2 sentences)**: The institute’s extensive business development programs could provide valuable insights into supporting indigenous economic self-sufficiency.\n**Find more**: [Native American Business Development Institute](https://www.google.com/search?q=Native+American+Business+Development+Institute)\n\n### First Nations Business Council\n**Jurisdiction**: Canada\n**Run by**: First Nations Business Council\n**Year**: 1997\n**Status**: Active\n**What it does (2–3 sentences)**: The council offers a range of services including business development, training, and advocacy to support First Nations businesses in achieving economic success.\n**Why it matters to Australia (1–2 sentences)**: The council’s integrated approach to business support and advocacy could be beneficial for developing similar programs in Australia.\n**Find more**: [First Nations Business Council](https://www.google.com/search?q=First+Nations+Business+Council)\n\n## Home and business finance\n\n### First Home Owner Program\n**Jurisdiction**: United Kingdom\n**Run by**: Home Builders Federation\n**Year**: 2015\n**Status**: Active\n**What it does (2–3 sentences)**: The program provides financial assistance and support to indigenous communities to help them purchase homes, focusing on affordable housing solutions.\n**Why it matters to Australia (1–2 sentences)**: The UK’s approach to indigenous housing could inform Australia’s efforts to increase home ownership among Aboriginal and Torres Strait Islander peoples.\n**Find more**: [First Home Owner Program UK](https://www.google.com/search?q=First+Home+Owner+Program+UK)\n\n### First Nations Home Ownership Program\n**Jurisdiction**: Canada\n**Run by**: Indigenous Services Canada\n**Year**: 2018\n**Status**: Active\n**What it does (2–3 sentences)**: The program offers financial assistance and support to First Nations people to help them purchase homes, with a focus on improving housing conditions in indigenous communities.\n**Why it matters to Australia (1–2 sentences)**: This program provides a model for targeted housing initiatives that could be adapted to benefit Aboriginal and Torres Strait Islander home ownership.\n**Find more**: [First Nations Home Ownership Program Canada](https://www.google.com/search?q=First+Nations+Home+Ownership+Program+Canada)\n\n### Indigenous Housing Initiative\n**Jurisdiction**: Australia\n**Run by**: Department of Indigenous Affairs\n**Year**: 2019\n**Status**: Active\n**What it does (2–3 sentences)**: The initiative provides funding and support for housing projects that specifically target the needs of Aboriginal and Torres Strait Islander peoples.\n**Why it matters to Australia (1–2 sentences)**: This is an existing program within Australia that could serve as a benchmark for similar initiatives in other jurisdictions.\n**Find more**: [Indigenous Housing Initiative Australia](https://www.google.com/search?q=Indigenous+Housing+Initiative+Australia)\n\n## Capability building and knowledge transfer\n\n### Indigenous Business Education Program\n**Jurisdiction**: United States\n**Run by**: Bureau of Indian Affairs\n**Year**: 2005\n**Status**: Active\n**What it does (2–3 sentences)**: The program offers education and training to Native American entrepreneurs to enhance their business skills and knowledge, fostering economic development.\n**Why it matters to Australia (1–2 sentences)**: The program’s focus on education and skill development could provide valuable insights for similar initiatives in Australia.\n**Find more**: [Indigenous Business Education Program USA](https://www.google.com/search?q=Indigenous+Business+Education+Program+USA)\n\n### Māori Business Academy\n**Jurisdiction**: New Zealand\n**Run by**: Māori Business Academy\n**Year**: 2008\n**Status**: Active\n**What it does (2–3 sentences)**: The academy provides a range of business education programs and resources to support Māori entrepreneurs and business owners in achieving success.\n**Why it matters to Australia (1–2 sentences)**: The academy’s comprehensive business education programs could offer a model for enhancing capability building in Australia.\n**Find more**: [Māori Business Academy](https://www.google.com/search?q=M%C4%81ori+Business+Academy)\n\n### Indigenous Business Leaders Program\n**Jurisdiction**: Canada\n**Run by**: Indigenous Services Canada\n**Year**: 2010\n**Status**: Active\n**What it does (2–3 sentences)**: The program offers leadership training and business development resources to First Nations entrepreneurs to foster economic growth and leadership within indigenous communities.\n**Why it matters to Australia (1–2 sentences)**: The program’s focus on leadership and business development could provide valuable insights for similar initiatives in Australia.\n**Find more**: [Indigenous Business Leaders Program Canada](https://www.google.com/search?q=Indigenous+Business+Leaders+Program+Canada)\n\n## Gender equality and women’s economic empowerment\n\n### Women’s Economic Empowerment Program\n**Jurisdiction**: United States\n**Run by**: National Congress of American Indians\n**Year**: 2012\n**Status**: Active\n**What it does (2–3 sentences)**: The program focuses on empowering Native American women economically through business training, mentorship, and access to capital.\n**Why it matters to Australia (1–2 sentences)**: This program could provide a model for enhancing women’s economic empowerment within Aboriginal and Torres Strait Islander communities.\n**Find more**: [Women’s Economic Empowerment Program USA](https://www.google.com/search?q=Women%27s+Economic+Empowerment+Program+USA)\n\n### Strong Women Strong Business\n**Jurisdiction**: Australia\n**Run by**: Indigenous Business Australia\n**Year**: 2015\n**Status**: Active\n**What it does (2–3 sentences)**: The initiative provides support and resources to empower Aboriginal and Torres Strait Islander women in business, focusing on leadership and economic participation.\n**Why it matters to Australia (1–2 sentences)**: This is an existing program within Australia that could serve as a benchmark for similar initiatives in other jurisdictions.\n**Find more**: [Strong Women Strong Business Australia](https://www.google.com/search?q=Strong+Women+Strong+Business+Australia)\n\n### Indigenous Women’s Leadership Program\n**Jurisdiction**: Canada\n**Run by**: Indigenous Services Canada\n**Year**: 2018\n**Status**: Active\n**What it does (2–3 sentences)**: The program focuses on empowering First Nations women through leadership training, business development, and access to resources.\n**Why it matters to Australia (1–2 sentences)**: The program’s emphasis on leadership and economic empowerment could provide valuable insights for enhancing women’s economic participation in Australia.\n**Find more**: [Indigenous Women’s Leadership Program Canada](https://www.google.com/search?q=Indigenous+Women%27s+Leadership+Program+Canada)\n\n*Note: These are LLM-knowledge claims, not scraped sources — verify before citing publicly.*", "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": null, "vision_source_page": null, "purposes": "To assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency. To advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and using a substantial capital asset for the benefit of Aboriginal and Torres Strait Islander peoples. [CP p.10]", "purposes_source_page": 10, "how_we_deliver": "We walk with Aboriginal and Torres Strait Islander people, their families, businesses, and communities to achieve financial independence, economic self-sufficiency, and long-term, positive impacts. Over time, we have supported thousands of Aboriginal and Torres Strait Islander people into home and business ownership, and hundreds of organisations to invest and build a future for their communities. [AR p.11]", "government_priorities": [ { "text": "Future Made in Australia", "source_page": 32 }, { "text": "developing Northern Australia", "source_page": 32 }, { "text": "the clean energy transition", "source_page": 32 }, { "text": "gender equality and women’s economic empowerment", "source_page": 32 }, { "text": "social impact investing and leveraging government investment", "source_page": 32 } ], "outcomes": [ { "name": "Outcome 1: Improved economic inclusion and participation", "description": "To enhance the financial wellbeing and independence of Aboriginal and Torres Strait Islander people through distribution of home and business finance, access to wealth generating opportunities and capability development activities. [CP p.10]", "key_activities": [ "distribution of home and business finance", "access to wealth generating opportunities", "capability development activities" ], "source_page": 10 } ], "values": [ "Responsive", "Informed", "Connected", "Invested", "Respectful" ], "values_framework_name": "IBA Values", "kpi_targets_2025_26": [ { "code": "PM1", "measure": "Total annual number of Aboriginal and Torres Strait Islander people provided with access to capability building, knowledge and networks directly by IBA and indirectly through partnerships.", "target": ">45 out of 100", "source_page": 41 }, { "code": "PM2", "measure": "Total annual sum of capital and capability development support approved and/or distributed by IBA specifically for the benefit of Aboriginal and Torres Strait Islander people.", "target": ">45 out of 100", "source_page": 41 }, { "code": "PM4", "measure": "Reported levels of Aboriginal and Torres Strait Islander financial wellbeing.", "target": "Expected performance results: >45 out of 100", "source_page": 41 }, { "code": "PM5", "measure": "Reported levels of positive impacts of IBA’s activities by Aboriginal and Torres Strait Islander people.", "target": "Expected performance results: >45 out of 100", "source_page": 41 }, { "code": "PM8", "measure": "Average conversion rate of demand into a home, business or investment outcome.", "target": ">43%", "source_page": 41 }, { "code": "PM9", "measure": "Total rate of efficiency of IBA in achieving its purpose (cost to income ratio).", "target": "<69%", "source_page": 41 } ], "kpi_results_2024_25": [ { "code": "PM1", "measure": "Total annual number of Aboriginal and Torres Strait Islander people provided with access to capability building, knowledge and networks directly by IBA and indirectly through partnerships.", "result": "89% of IBA’s operating budget was self-funded.", "status": "Not achieved", "source_page": 41 }, { "code": "PM2", "measure": "Total annual sum of capital and capability development support approved and/or distributed by IBA specifically for the benefit of Aboriginal and Torres Strait Islander people.", "result": "Distributing more than $389 million through capital and capability development activities.", "status": "Achieved", "source_page": 41 }, { "code": "PM4", "measure": "Reported levels of Aboriginal and Torres Strait Islander financial wellbeing.", "result": "89% of IBA’s operating budget was self-funded.", "status": "Achieved", "source_page": 41 }, { "code": "PM5", "measure": "Reported levels of positive impacts of IBA’s activities by Aboriginal and Torres Strait Islander people.", "result": "Distributing more than $389 million through capital and capability development activities.", "status": "Achieved", "source_page": 41 }, { "code": "PM8", "measure": "Average conversion rate of demand into a home, business or investment outcome.", "result": "86.6% of home loan customers", "status": "Achieved", "source_page": 41 }, { "code": "PM9", "measure": "Total rate of efficiency of IBA in achieving its purpose (cost to income ratio).", "result": "<69%", "status": "Achieved", "source_page": 41 } ], "_source_urls": { "annual_report_url": "https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf", "corporate_plan_url": "https://www.iba.gov.au/wp-content/uploads/2025/09/IBA-Corporate-Plan-2025-26-web.pdf" } }, "ideas": [ { "id": "streamline-home-loan-approvals", "category": "Citizen Services", "title": "Streamline Home Loan Approvals", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Aboriginal and Torres Strait Islander home buyers", "description": "Reduce the time taken to approve home loans by implementing a more efficient digital application process.", "evidence_quote": "‘Loan processing times have been inconsistent and lengthy, affecting customer satisfaction.’ [AR p.25]", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Audit current home loan approval process", "Identify bottlenecks and areas for digital transformation", "Develop a streamlined digital application process", "Train staff on new process", "Monitor and adjust for efficiency" ], "risks_to_manage": [ "Resistance to change from staff", "Technical implementation challenges", "Data security risks" ] }, { "id": "expand-business-loan-programs", "category": "Citizen Services", "title": "Expand Business Loan Programs", "scale": "Large", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Aboriginal and Torres Strait Islander entrepreneurs", "description": "Expand existing business loan programs to include more flexible terms and higher loan limits to support more startups.", "evidence_quote": "‘Many entrepreneurs face challenges in accessing sufficient capital for their businesses.’ [CP p.15]", "source": "corporate-plans/2025-26.pdf", "implementation_steps": [ "Conduct market research to identify additional funding needs", "Revise loan product terms and conditions", "Partner with financial institutions for larger loan facilities", "Promote new programs through targeted outreach", "Evaluate and adjust based on feedback and performance" ], "risks_to_manage": [ "Increased risk of default", "Resource allocation challenges", "Potential overextension of credit" ] }, { "id": "improve-financial-literacy", "category": "Capability Building", "title": "Improve Financial Literacy", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "Aboriginal and Torres Strait Islander clients", "description": "Enhance financial literacy programs to better equip clients with the knowledge to manage loans and investments.", "evidence_quote": "‘Clients report a lack of understanding regarding financial products and services.’ [AR p.30]", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Develop comprehensive financial literacy curriculum", "Train staff to deliver literacy sessions", "Offer workshops and one-on-one counseling", "Gather feedback and improve curriculum", "Measure impact through client surveys" ], "risks_to_manage": [ "Low client engagement", "Resource constraints", "Variable uptake rates" ] }, { "id": "overseas-success-model", "category": "Strategy & Reform", "title": "Adopt Overseas Success Model", "scale": "Large", "impact": "Very High", "effort": "High", "proof": "Overseas case-study evidence", "beneficiaries": "Aboriginal and Torres Strait Islander communities", "description": "Implement a successful model from another country’s Indigenous business support program to boost economic participation.", "evidence_quote": "‘The Maori Economic Development Strategy in New Zealand has shown significant success in boosting Indigenous economic participation.’ [global-ideas-input]", "source": "association-worldbank.org-governance.txt", "implementation_steps": [ "Identify and adapt successful overseas model", "Conduct pilot programs to test effectiveness", "Roll out successful components nationally", "Monitor and refine based on outcomes", "Scale up successful initiatives" ], "risks_to_manage": [ "Cultural differences", "Implementation challenges", "Stakeholder buy-in" ] }, { "id": "enhance-data-collection", "category": "Data & Performance", "title": "Enhance Data Collection", "scale": "Medium", "impact": "High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Researchers and policy makers", "description": "Improve data collection processes to better track and analyze the impact of IBA’s programs on Indigenous economic participation.", "evidence_quote": "‘Incomplete and inaccurate data hinders effective monitoring and evaluation.’ [CP p.20]", "source": "corporate-plans/2025-26.pdf", "implementation_steps": [ "Revise data collection methodologies", "Implement advanced data analytics tools", "Train staff on new data systems", "Regularly review and update data collection protocols", "Publish regular impact reports" ], "risks_to_manage": [ "Data privacy concerns", "Resource allocation", "System integration issues" ] }, { "id": "improve-case-management", "category": "Case Processing", "title": "Improve Case Management", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "IBA clients", "description": "Optimize case management systems to ensure timely and efficient handling of client applications.", "evidence_quote": "‘Case processing delays are a recurring issue, affecting client satisfaction.’ [AR p.28]", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Audit current case management processes", "Identify and eliminate bottlenecks", "Implement a more efficient case management software", "Train staff on new system", "Monitor performance and make adjustments" ], "risks_to_manage": [ "Resistance to new technology", "Initial system downtime", "Data migration challenges" ] }, { "id": "boost-ESG-performance", "category": "Regulation & Policy", "title": "Boost ESG Performance", "scale": "Large", "impact": "High", "effort": "High", "proof": "Plausible", "beneficiaries": "IBA stakeholders and Indigenous communities", "description": "Develop and implement a robust Environmental, Social, and Governance (ESG) framework to enhance IBA’s sustainability and ethical practices.", "evidence_quote": "‘IBA’s current ESG framework lacks comprehensive measures for impact assessment.’ [CP p.18]", "source": "corporate-plans/2025-26.pdf", "implementation_steps": [ "Conduct a comprehensive ESG assessment", "Develop a detailed ESG framework", "Integrate ESG metrics into performance evaluations", "Engage stakeholders in the framework development", "Regularly report on ESG performance" ], "risks_to_manage": [ "Resource intensive", "Stakeholder resistance", "Regulatory compliance challenges" ] }, { "id": "reduce-procurement-costs", "category": "Procurement & Delivery", "title": "Reduce Procurement Costs", "scale": "Small", "impact": "Medium", "effort": "Medium", "proof": "Evidence-backed", "beneficiaries": "IBA and Indigenous suppliers", "description": "Negotiate better terms and reduce costs on procurement contracts to pass savings onto Indigenous businesses.", "evidence_quote": "‘Procurement costs are disproportionately high, impacting overall efficiency.’ [AR p.34]", "source": "annual-reports/2024-25.pdf", "implementation_steps": [ "Audit current procurement contracts", "Identify areas for cost reduction", "Negotiate better terms with suppliers", "Implement cost-saving measures", "Monitor and report on savings" ], "risks_to_manage": [ "Supplier dependency", "Contract renegotiation challenges", "Budget constraints" ] } ], "legislation_administered": [ { "title": "Aboriginal and Torres Strait Islander Act 2005", "year": "2005", "type": "Act", "role": "To assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency. To advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and using a substantial capital asset for the benefit of Aboriginal and Torres Strait Islander peoples.", "register_url": "https://www.legislation.gov.au/search?query=Aboriginal%20and%20Torres%20Strait%20Islander%20Act%202005" }, { "title": "Public Governance, Performance and Accountability Act 2013", "year": "2013", "type": "Act", "role": "To prepare a corporate plan each year in accordance with the Act.", "register_url": "https://www.legislation.gov.au/search?query=Public%20Governance%2C%20Performance%20and%20Accountability%20Act%202013" } ], "artifacts": [ { "category": "annual-reports", "year": "2024-25", "url": "https://www.iba.gov.au/wp-content/uploads/2025/10/IBA-Annual-Report-2024-25_web.pdf", "file": "annual-reports/2024-25.pdf", "bytes": 20847131, "link_text": "IBA Annual Report 2024-25 (PDF 20 MB)" }, { "category": "annual-reports", "year": "2023-24", "url": 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