GTG
MEDIA, JOBS & RESOURCES for the COMMON GOOD
NEWS  |  Finance, Philanthropy

Disability NFP Convenes Social Finance Think Tank


Wednesday, 4th November 2015 at 10:10 am
Ellie Cooper, Journalist
Philanthropic Trust, the Summer Foundation has convened experts in finance, law, housing and philanthropy to form the Social Finance Think Tank, charged with exploring impact investment models that would provide young people with disability alternatives to living in nursing homes.

Wednesday, 4th November 2015
at 10:10 am
Ellie Cooper, Journalist


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Disability NFP Convenes Social Finance Think Tank
Wednesday, 4th November 2015 at 10:10 am

Philanthropic Trust, the Summer Foundation has convened experts in finance, law, housing and philanthropy to form the Social Finance Think Tank, charged with exploring impact investment models that would provide young people with disability alternatives to living in nursing homes.

The Think Tank, chaired by businessman, philanthropist and former Australian of the Year, Simon McKeon AO, was developed from the Summer Foundation’s Housing for Young People in Nursing Homes report.     

The Foundation said its latest project, in the NDIS trial site in Hunter, New South Wales, is creating innovative housing and support to demonstrate a new and more inclusive housing option for people with significant disability.

“In the current economic environment, government and philanthropy combined do not have the resources required to build the scale of accessible and affordable housing we need in Australia. Over the past few years there has been a growing interest in social investment,” McKeon said.

“However, in Australia there is a limited pipeline of projects and enterprises that are ‘investment ready’ and inherently scalable to make use of this capital.

“The Summer Foundation's Social Finance Think Tank provided a timely opportunity for people from a range of disciplines to have grounded conversation and explore a model of social finance for a real life project.”

According to the Foundation, more than 6000 young people around Australia live in aged care nursing homes, which are not suited to their needs. Many of these people are also socially isolated.

“Our long-term vision is that this model of integrated housing for people with disability is routinely included in all new medium and high-density residential developments throughout Australia,” Foundation CEO Dr Di Winkler said.

The Think Tank identified strategies to bridge the gap between the rental income stream of people on a disability support pension, and the cost of apartments that are well-located and designed, and incorporate communications and smart-home technology.

The report said the Hunter Housing Demonstration Project would utilise philanthropy and early adopters of impact investment, including high net worth individuals, trusts and private ancillary funds, with future projects aimed at attracting wider investment.

“The first models of social finance will be bespoke. Funded in the main by philanthropy, both grants and use of capital, and government, they will provide proof of concept of the model of social investment and the housing and support model,” the report said.

“This will enable the Summer Foundation and other organisations to move on to the next phase – necessary for achieving scale – of attracting more commercially minded investors.

“Initially this would be superannuation funds that have an active interest in impact investing… and ultimately ordinary commercial investors.”

The Summer Foundation also said the strategies, insights and conclusions documented in the report had relevance for a broad range of housing projects for people with complex disability, and other groups of people who experience disadvantage.


Ellie Cooper  |  Journalist  |  @ProBonoNews

Ellie Cooper is a journalist covering the social sector.


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

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

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



YOU MAY ALSO LIKE

10 Signs Your Culture May Be Struggling

Fran Connelley

Thursday, 16th August 2018 at 3:54 pm

Disabled Teens Suffering the Mental Health Effects of Bullying

Contributor

Tuesday, 14th August 2018 at 8:27 am

Partnerships Needed to Find Solution for Young People in Aged Care

Maggie Coggan

Wednesday, 8th August 2018 at 4:49 pm

Concerns Raised Over NDIS Barriers for Homeless People With Disability

Maggie Coggan

Tuesday, 7th August 2018 at 8:24 am

POPULAR

Concerns Raised Over NDIS Barriers for Homeless People With Disability

Maggie Coggan

Tuesday, 7th August 2018 at 8:24 am

NFPs Urged to Focus on Purpose

Luke Michael

Tuesday, 7th August 2018 at 8:27 am

Coordinated Care at Risk Under Marketisation of the NDIS

Luke Michael

Thursday, 9th August 2018 at 8:20 am

Disability Advocates Welcome Pledge to Remove NDIA Staff Cap

Luke Michael

Wednesday, 8th August 2018 at 5:12 pm

GTG
pba inverse logo
Subscribe Twitter Facebook

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

You have Successfully Subscribed!