NDIS Criterion
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Corporate Engagement, Finance, Good Business, Philanthropy, Social Enterprise, Social Innovation

NAB and Philanthropy Australia Launch NFP Social Enterprise Fund


Thursday, 26th May 2016 at 3:08 pm
Lina Caneva, Editor
Donor peak body, Philanthropy Australia and the National Australia Bank have launched a half a million dollar grant fund to help Not for Profits establish and grow social enterprises.

Thursday, 26th May 2016
at 3:08 pm
Lina Caneva, Editor


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
NAB and Philanthropy Australia Launch NFP Social Enterprise Fund
Thursday, 26th May 2016 at 3:08 pm

Donor peak body, Philanthropy Australia and the National Australia Bank have launched a half a million dollar grant fund to help Not for Profits establish and grow social enterprises.

NAB is to contribute $250,000 and Philanthropy Australia said it would match this amount through contributions from its trust and foundation members, creating a $500,000 grants fund, aimed at growing the number of social enterprises managed by Not for Profits – making it one of the largest funds of its kind in Australia.

General manager of corporate responsibility at NAB Jodi Geddes said the partnership would stimulate much needed new funding streams for Not for Profits and expand the way in which trusts and foundations have historically engaged with the sector.

“Increased pressure on funding and disruption to traditional funding models are putting pressure on the Not for Profit sector to develop new income streams,” Geddes said.

“We believe that impact investing has a vital role to play in addressing these challenges but it will require the entire sector, including trusts and foundations, to come on the journey.

“We want to help create opportunities for trusts and foundations to make investments in the sector that provide a return. This return can then be reinvested in other social enterprises allowing Trusts and Foundations to have a vastly greater impact than that which can be achieved by way of a pure philanthropic grant-based model.”

Philanthropy Australia CEO Sarah Davies said the partnership with NAB would be a catalyst for real and long-term change in the role of philanthropic organisations and how they support innovative and  sustainable business models for Not for Profit organisations.

“We’ve had really strong interest from a number of other parties to join NAB and co-fund the project and hope to announce those additional partners soon,” Davies said.

Philanthropy Australia said the funding grants were expected to be available by the end of 2016 when Not for Profits would be able to apply for capacity building funds of up to $50,000 to assist them to be impact ready.

The new fund is part of a 12-month partnership that will also include a series of educational activities designed to increase the number of trusts and foundations using impact investment as an investment strategy.


Lina Caneva  |  Editor |  @ProBonoNews

Lina Caneva has been a journalist for more than 35 years, and Editor of Pro Bono Australia News since it was founded in 2000.

FEATURED SUPPLIERS


HLB Mann Judd is a specialist Accounting and Advisory firm t...

HLB Mann Judd

Yes we’re lawyers, but we do a lot more....

Moores

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Job Creation Facilitated Through Social Enterprise Procurement

Luke Michael

Thursday, 9th November 2017 at 2:23 pm

Social Enterprise Rallies Army of Burrito Lovers to Fight World Hunger

Wendy Williams

Wednesday, 1st November 2017 at 8:53 am

‘Helping a Sister’ Restore Dignity

Wendy Williams

Wednesday, 1st November 2017 at 8:16 am

POPULAR

Disability Advocacy Group Fights to Restore State Funding

Luke Michael

Thursday, 9th November 2017 at 8:37 am

Red Cross Moves to Wage-Based Fundraising Model

Lina Caneva

Thursday, 16th November 2017 at 8:30 am

New Same-Sex Marriage Bill Looks to Protect Faith-Based Charities

Luke Michael

Monday, 13th November 2017 at 5:25 pm

Donors Looking for a Personalised Experience to Give More – Study

Lina Caneva

Wednesday, 8th November 2017 at 1:43 pm

Write a Reply or Comment

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


NDIS Criterion
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!