A financial health check is a report published in June 2020 by Social Ventures Australia (SVA) and the Centre for Social Impact (CSI) that models the potential impact of COVID-19 on the financial health of Australia’s 16,000 registered charities who employ people, to better understand the effects and identify systemic solutions.  EXTRACT

This new modelling has found that without transitional support more than 200,000 jobs could be lost among Australian charities as support like JobKeeper, and lease and loan deferrals come to an end in October 

This report calls for governments to ensure the resilience and viability of the charity sector through a range of supports, including:  

  • Gradual transition of JobKeeper and other supports to create and ‘ramp’ not a ‘cliff’ in October 
  • One-off Charities Transformation Fund to help organisations transition to the ‘new normal’ including operating online, restructuring etc  
  • Maintain funding for government contracted services delivered by charities to reflect the true cost of delivering services  
  • Retain JobSeeker at higher level to mitigate the increase in service demand while also stimulating the broader economy 
  • Simplify fundraising and philanthropy with nationally consistent fundraising laws 
  • Support research to better understand how to build back the charities sector

SOURCE: Social Ventures Australia and the Centre for Social Impact (2020) Will Australian charities be COVID-19 casualties or partners in recovery? A financial health check. Social Ventures Australia.

Link to website [Website also includes a Response from our sector partners]

See also: SV News: New report forecasts dire financial future for charities in Australia [3 June 2020]