The Sidney Myer Charitable Trust was established by the will of Sidney Myer, who died in 1934, leaving one tenth of his estate for the benefit of the community. Myer's will was proved at £922,000. The most famous philanthropic funding by the fund was for the construction of the Sidney Myer Music Bowl in the Kings Domain, Melbourne in 1958, which is named in his honour.
In 1959, the trust was renamed The Sidney Myer Fund and Sidney’s sons, Baillieu and Kenneth Myer established the Myer Foundation, with both funds being closely administered. The foundation and fund have been supported by three generations of Myer family members. Carrillo Gantner, grandson of Sidney Myer through Sidney's daughter Neilma Gantner, is chairman of the fund,  while Martyn Myer, Sidney's grandson through Ken Myer, is president of the foundation.
The foundation makes "grants across Australia for general charitable purposes in accordance with [its] vision to improve people's lives in lasting and positive ways". The foundation's large grants program gives support in five categories: the Arts and Humanities, Australia in the Asia-Pacific Region, Education, Poverty and Disadvantage, and Sustainability and the Environment.
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