YMAC FACT SHEET
Money and YMAC – how does it work? YMAC is a public benevolent, not-for-profit organisation that is also a Native Title Representative Body (NTRB). This means we deliver a range of services that go beyond our functions as an NTRB under the Native Title Act 1993 (Cth). Much of YMAC’s native title work is supported through a funding agreement with the Australian Government through the National Indigenous Australians Agency (NIAA). Additionally, projects and services are also funded through other Federal and State Government grants, and private companies. YMAC also charges fees for services we are not funded to provide, such as mining agreement negotiations and heritage surveys. YMAC often provides these services through charging the companies who use them. YMAC also generates income through charging fees to its Prescribed Body Corporate (PBC)1 clients for professional services, like accounting and executive office, through service agreements.
We regularly review the rates charged to ensure they are both competitive and affordable. As YMAC is a not-for-profit organisation, any surplus income generated through these activities goes directly back to the corporation; it is not distributed to YMAC Members or Directors. Decisions on how this income is re-invested must meet the Objectives defined in YMAC’s Rule Book. How it operates and is funded enables YMAC to provide professional services to PBCs and other Aboriginal corporations at highly competitive rates, and subsidises our native title work and additional professional services we deliver to PBCs and similar organisations. For more information, see YMAC's annual reports on our website.
1 Note, for simplicity, YMAC uses the term “PBC” in most publications to refer to both Prescribed Bodies Corporate (PBCs) and Registered Native Title Bodies Corporate (RNTBCs). This is in line with terminology that is regularly used in the native title sector.