Moving Towards Controlling Your Not for Profit’s Financial Destiny
27 November 2014 at 10:00 am
If you are stuck on the funding treadmill but thinking beyond it, one of Australia’s longest standing social ventures might just be on your wavelength. But pioneering new funding channels may require Australia’s NFPs to dip into their own pockets first says entrepreneurial sector stalwart, Peter Quarmby, Executive Director of Community 21.
Recent research puts Australian Not for Profit assets at more than $175 billion dollars, the workforce is around a million and we pride ourselves on working together, but the thing we do not see very often is the sector investing in itself and its own capacity.
Community 21 is working to change this and calling on organisations to help.
We’re looking for Not for Profits that think broader than when their next tender is arriving, and are prepared to invest in something a little different.
One of Australia’s longest standing social ventures, Community 21, is the inspiration behind and half owner of Community Sector Banking. 12 years ago a group of Not for Profits got together with Bendigo Bank to build a piece of sector-owned infrastructure – a banking service purpose built for the sector’s needs.
Community Sector Banking, now looks after the banking needs of 9,000 Not for Profit organisations, has a balance sheet pushing $1 billion and has just launched, act. a new crowdfunding platform unique in the world.
This year, Community 21 opened up their ranks to new investors in an exclusive Share Offer, available only to Not for Profits.
The Offer aims to raise capital to develop and implement new financial solutions for the sector as a whole, including:
implementation and further development of the world first act. crowdfunding platform.
The development of impact investing vehicles such as a social impact fund, which will allow for increased investment in social impact projects.
We’ve been thrilled by the enthusiasm with which the sector has received our prospectus. We’ve met with more than 100 organisations and communicated with thousands more. We’ve been accepting applications from organisations big and small, and our Share Offer is approaching the first critical hurdle requirement.
We now have a few weeks to hit our minimum subscription level so we’re reaching out even further.
So why would organisations that are cash strapped invest in Community 21?
Our society is changing, the need is growing and funding from Government is diminishing. The solution to this involves a commitment to collaboration, pooling our resources and working together. It involves pioneering new financial concepts that channel money into the sector. And it involves leading the sector towards a new way of thinking about itself.
No single Not for Profit organisation could buy a bank, but together we can own and keep building a banking service that concentrates on our sector and our important work.
The Australian Not for Profit sector touches the lives of all Australians and without an independent, sustainable, financially secure Not for Profit sector our nation is diminished However, there is more the community sector can be doing for itself.
This Share Offer is exclusive to Australian Not for Profit organisations and only available for a limited time. Find out more by downloading the prospectus today from www.community21.com.au/prospectus