In May of 2016 the CEC changed its name to the Upper Murray Innovation Foundation (UMIF) and established itself as a community foundation.

Its purpose is to provide support for the CNC and other community activities that are in line with The Corryong Neighbourhood Centre's purpose, the CNC also utilises the UMIF's owned properties and equipment for its operations, in exchange, the CNC provides all necessary governance, administrative and financial services for UMIF without fee.

Through a special resolution passed in June 2016, the CNC is required to donate all profits in excess of operating requirements to UMIF via an annual declaration.

while the CNC is establishing its social enterprises and is servicing debt, no excess profits are expected, however, when all debts are repaid, the CNC is expected to contribute approx. $200k per year to UMIF.

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