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BankSA Foundation opens latest Community Grants to support local charities

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BankSA foundation

BankSA Foundation has opened its latest funding round to help small charitable organisations supporting vulnerable groups of people in the community, amidst a difficult year for charities which rely on donations and community events – with many cancelled and more on hold.

Many organisations have also faced an increase in demand for vital support services that members of the community have come to rely on. Job losses, financial pressures, and isolation are among the reasons more people are reaching out for support.

Applications are now being accepted for BankSA Foundation Community Grants of up to $50,000 each, which will be awarded to eligible community organisations in South Australia or the Northern Territory that work to provide a brighter future for socially, economically or physically disadvantaged people.

This is the second Community Grant round offered by BankSA Foundation in 2020 and is in addition to the Foundation’s Multi-Year Grant of $150,000 for one charity over the next three years, announced earlier this year, which will be awarded next month.

The Foundation has continued with its existing funding opportunities for charities and has also increased funding support through its COVID-19 Emergency Payments and the Bushfire Assistance Grant.

BankSA Foundation Chair, Nick Reade said it is important that we continue to support small charities during what has been a challenging year.

“BankSA Foundation is proud to back local charities, providing them the support they need to continue their programs but also to adapt their business models during COVID-19” he said.

BankSA Foundation has developed a proud history of charitable and community support since 1941 when bank staff first chose to donate part of their wages to send comfort parcels to colleagues serving in the armed forces.

Over the past five years, it has contributed nearly $1.5 million to help small charities make a big impact, driven by BankSA employees who continue to raise or donate funds for BankSA Foundation grant purposes.

To be eligible for a BankSA Foundation Community Grant, an organisation must be located and focus its efforts in South Australia or Northern Territory; have a gross annual revenue of less than $5 million;
receive less than 60% of its income from recurrent state, federal or local government; funding (unless it receives an income less than $1 million per annum, in which case government funding can exceed 60%); and e endorsed as a deductible gift recipient (but not another ancillary fund).

Deductible Gift Recipients must be listed with the Australian Taxation Office under Item 1 of the Table in Section 30-15 of the Income Tax Assessment Act, 1936. Applications close 16 October, 2020.

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