How the not-for-profit sector can attract alternative funding sources and diversify income base.
A workplace giving scheme is an arrangement between a not for profit organisation and a business to enable the employees of the business to donate to the community organisation through the payroll system.
The guide below is for not for profit organisations. It provides advice on how to make the most of pre tax workplace giving schemes and tips on how to develop a mutually beneficial corporate partnership.
To become a recipient of a workplace giving scheme, your organisation must first have deductible gift recipient (DGR) status. Find out more about DGR on the Australian Taxation Office website.
Government and philanthropic grant makers can both provide funding to not-for-profit community organisations – value and efficiency can be added when they work together. Philanthropy Australia and some of Victoria’s prominent philanthropic grant makers developed a series of tools, "Guiding principles for collaboration between government and philanthropy". This resource can used at a range of levels to support effective collaborative approaches.
A series of case studies has also been developed on 3 way relationships between philanthropy, government and the not-for-profit community sectors and a report is the result of this work- see Related resources below.
Foresters Community Finance
Foresters Community Finance (Foresters) is a community development finance institution that employs social/community finance and social investment strategies to service and support people, organisations and communities who have limited access to mainstream financial institutions.
Foresters provide finance to non-profit organisations and social enterprises as an alternative source of capital to assist in achieving their goals be that asset building or enterprise development. Asset building and enterprise development are ways in which non-profit organisations and social enterprises can secure their financial future through asset ownership or building new and sustainable revenue streams.
With a long history in lending to non-profit organisations and social enterprises, Foresters has well developed insights into the needs of community sector organisations and provides loans that are specifically tailored for, but not limited to:
- Property purchase
- Refurbishment or extension
- Business development
- Equipment purchase
Note: There are other banking organisations that can also assist community organisations with finance.