Inaugural grant round provides $90,000 for charities hit by COVID

24 June 2020

The Heritage Bank Charitable Foundation’s first-ever round of grants will see $90,000 being made available to help smaller charities hit hard by COVID-19 to continue their good work. 

Nine grants of $10,000 will be made available, with applications in the COVID-19 Kick-Start Grant Round opening on Wednesday (24 June). The successful applicants will be notified in October.

Newly appointed Charitable Foundation Executive Officer Paul Olds said the COVID-19 pandemic meant many charities are struggling financially at the same time as they face increased demand for services.  

A recent COVID-19 impact benchmarking study by More Strategic showed event income had reduced by 42% in March 2020 compared to the same month last year.

“I’m thrilled to announce that our commitment to making the Foundation a real force for good in Australia has taken a significant step forward with the launch of our first grant funding round.” Mr Olds said.

“At the Heritage Bank Charitable Foundation we understand the important role the non-profit sector plays in supporting and strengthening the communities we live in. This is why we have accelerated our grant program to deliver support in this time of need,” 

“Our COVID-19 Kick-Start Grant Round comprises nine $10,000 grants which are to be used to fund an eligible charity’s existing program.

“While we have moved quickly to implement this grant round, we have still done our due diligence on how we can best assist the sector.  

“Research shows charities with a turnover under $10 million and minimal government funding are the hardest hit by the pandemic. We have deliberately decided to support existing programs that have a history of delivering successful outcomes - we need to help ensure these programs stay in operation.

“We also want to take a very hands on approach with the charities we support. Our goal is to harness the collective strength of the Heritage Bank community to help our charity partners achieve their objectives.”

To be eligible for a grant, organisations must:

• be a not-for-profit with deductible gift recipient (DGR) status
• be able to show evidence of an effective existing program supporting one or more of the following areas:
  
  • Positive educational and alternative pathways to help at-risk children and teenagers;
  • Health care services for vulnerable Australians and their families; and
  • Support for the economic and social wellbeing of people in regional, rural and remote communities, including in times of natural disasters.
• operate in one or more of the Heritage Bank geographic regions
• have had a significant reduction in fundraising income due to the COVID-19 restrictions
• be clearly able to demonstrate the number of people who will be positively impacted by the provision of the grant
• have an annual income for 2019 (based on their latest audited report) of under $10 million
• obtain less than 70% of their annual income from government sources

Eligible not-for-profits can apply via our Apply page.

The grant round will open on Wednesday 24 June, 2020 and close on Friday 31 July, 2020 at 5.00pm.  The Foundation will notify the successful recipients in early October 2020.

The Heritage Bank Charitable Foundation was established in 2018 with seed funding of $2 million from Heritage Bank.  The Charitable Foundation is dedicated to improving the quality of life for people in need throughout our community.  The Foundation’s philosophy is provide support now whilst also building a strong corpus that will benefit and grow stronger communities well into the future.  The Foundation is confident this will be the first of many grants it provides to grow stronger communities.

Heritage Bank funds all operational costs of the Foundation, ensuring all donations received and investment income generated is applied to helping those in need, now and into the future.

Image Caption: Executive Officer Paul Olds and Chair Bill Armagnacq celebrate the Foundation grants launch (from right).