Rod Welford bequeaths an estimated $5m to Queensland in a parting gift

Former Labor MP Rod Welford’s final multimillion-dollar gift to Queensland was his ‘vision for the future’ and the causes he most cared about.

Rod Welford when he was 50.

Former Labor minister Rod Welford, who passed away on Saturday, has bequeathed an estimated $5m in a final gift to Queensland which will go to causes that have shaped his life – social change, environmental protection, and education.

The money will go though Queensland Gives by Queensland Community Foundation which has committed millions of dollars in grants for almost 30 years to charities and organisations.

Mr Welford, who served in the state parliament during the Goss, Beattie and Bligh Labor governments from 1989 to 2009, was 66 when he passed away after a battling with cancer.

In a statement Queensland Gives said Mr Welford has selected four beneficiary areas for his fund: two environmental organisations, a social change initiative, and a scholarship program at Griffith University.

They said that a week before his passing Mr Welford described Queensland Gives as “the most efficient and flexible vehicle for anyone who wants their money to make a lasting difference.”

“Frankly, I just don’t see the value of leaving a million dollars to one of your kids. I don’t see the value of squandering an opportunity to leave a broader legacy beyond just the self-interest of a family or even the children of a family,” he had said.

“Help them pay off their mortgage, sure; but invest in something bigger than any one family – invest in society.”

Rod Welford who passed way on Saturday aged 66,

Established in 1997, Queensland Gives is a trust fund providing an enduring income stream to charities and currently has $152m invested.

Queensland Gives chief executive Tara Castle said Mr Welford in one of his final acts had chosen to donate $1m to his Fund in Queensland Gives to support the causes closest to his heart.

She said he also bequeathed an estimated amount of up to $5m to be added to his Fund through Queensland Gives Trust and for the income produced to towards his causes.

“I spoke to him almost every day in the week before his death,” Ms Castle said.

“I am absolutely blown away but not surprised about this new gift having gotten to know him. He lived a remarkable life and he was passionate about Queensland, the environment and education.”

In the statement Queensland Gives said Mr Welford told them that his bequest was not just a financial gift.

“It’s a vision for the future, written into the story of the people and causes I care about most,” he had said.

As minister for environment, heritage and natural resources from 1998 to 2004, Mr Welford was instrumental in reshaping Queensland’s relationship with its environment.

He drove policies to support renewable energy, reduce greenhouse gas emissions and later as education minister, introduced environmental sustainability into the school curriculum.

Rod Welford at home in Everton Park after announcing his retirement.

Mr Welford had told Queensland Gives that “the environment is our life support system.”

“Our economy and society are wholly owned subsidiaries of the environment. Yet

we’ve come to know the cost of everything and the value of nothing,” he reflected.

“Everything is measured by financial terms and you know; money can’t buy you a sustainable environment. Money can’t buy you love.

“Money can’t buy you your relationships. In fact, money can’t buy you anything that’s of real

value in the world. We know the cost of everything and the value of nothing. It’s the energy and personal resources you commit to others that provide the deepest satisfaction.”

Queensland Gives said that last week Mr Welford told them that his hope was to inspire others – particularly high-wealth individuals – to follow his lead.

“We’re seeing the biggest intergenerational wealth transfer in our history. It would be tragic if that wealth didn’t contribute to a better world,” he said.

Originally published as Rod Welford bequeaths an estimated $5m to Queensland in a parting gift