According to its Values Statement, it has "the shared vision of supporting charitable enterprises and adding value to philanthropy". The Pratt Foundation claims to be one of the largest private sources of philanthropy in Australia. Its chief executive is Melbourne journalist Sam Lipski, and Heloise Waislitz is its chair.
The Pratt Foundation has notably funded the environmental group The Wilderness Society. The society has been outspoken in its efforts to derail a proposed pulp mill from the Tasmanian timber company Gunns.
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