subscribe to careers
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  General

NFPs Provide $55B to Aussie Economy - ABS


Monday, 30th June 2014 at 6:11 pm
Staff Reporter
Not for Profits have contributed almost $55 billion to the Australian economy and employed more than 1 million people in 2012-2013, new figures by the Australian Bureau of Statistics (ABS) have revealed.

Monday, 30th June 2014
at 6:11 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
NFPs Provide $55B to Aussie Economy - ABS
Monday, 30th June 2014 at 6:11 pm

Not for Profits have contributed almost $55 billion to the Australian economy and employed more than 1 million people in 2012-2013, new figures by the Australian Bureau of Statistics (ABS) have revealed.

According to the ABS, the contribution is a $22 billion increase compared to figures from 2006-2007. It also revealed Not for Profits received an income of $107.5 billion and held $176 billion worth of assets.

“The types of non-profit institution activities that contributed to total gross value added were education and research (30.9 per cent), social services (19.5 per cent), health and hospitals (18.1 per cent) and culture and recreation (13.2 per cent),” the ABS said.

The data revealed that the main way in which Not for Profits used their income was to pay for labour costs – which came to about $37 billion.

It also shows that social services Not for Profits employed the most people (296,900), followed by education and research Not for Profits (276,300).

“As at 30 June 2013, NPIs [non-profit institutions] held total assets of $175,983m,” the ABS said.

“The majority of these were non-financial assets ($130,387m). When total liabilities held by NPIs of $52,036m are subtracted from total assets, total net worth of NPIs is $123,946m.”

Community Council for Australia Chief Executive Officer David Crosbie said what the new report revealed was that charities were not only the heart of our communities but the heart of the economy.

“Show me another part of our economy that managed to grow at above 8 per cent, per annum even through the GFC,” Crosbie said.

“Instead of being treated as a major contributor to our economy and our community life, the NFP sector is classified as the ‘third sector’ – behind government and business – and its needs are readily dismissed by governments.  

“Whether we are talking about the need to retain the Australian Charities and Not-for-profit Commission or the need to free organisations from eight levels of duplicated fundraising red tape around Australia, governments seem to have developed a tin ear approach to the needs of the charities and not-for-profit sector.

“I only hope this data highlighting the economic role played by the charities and the Not for Profit sector leads governments to engage constructively with the sector rather than imposing predetermined agenda’s that suit their narrow political agendas.”

Further details on the ABS statistics can be found here: Australian National Accounts: Non-Profit Institutions Satellite Account.




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au


Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Hoping for a bureaucratic miracle? Don’t hold your breath

David Crosbie

Thursday, 15th August 2019 at 8:51 am

Government under pressure to take action on fundraising reform

Luke Michael

Thursday, 15th August 2019 at 8:19 am

Someone else’s shoes

David Crosbie

Thursday, 1st August 2019 at 8:29 am

Leadership index reveals public distrust in NFP sector

Luke Michael

Wednesday, 24th July 2019 at 5:00 pm

POPULAR

Five lessons Australia could learn from Wales on ending homelessness

Maggie Coggan

Wednesday, 7th August 2019 at 5:11 pm

NDIS help arrives for Australians experiencing homelessness

Luke Michael

Friday, 9th August 2019 at 4:42 pm

Disability groups call for better quality plans in NDIS review

Luke Michael

Monday, 12th August 2019 at 4:51 pm

Don’t Buy. Don’t Supply. Say Why.

David Ritter

Thursday, 8th August 2019 at 8:13 am

Guide to Giving
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!