Total of $80K in grants available for BankSA’s 80th anniversary

As BankSA Foundation celebrates its 80th anniversary, the foundation is offering a one-off grant program to support local charities with a total of $80,000 distributed to up to eight approved recipients.

This is in addition to BankSA Foundation’s Community Grants Program where organisations can apply for funding for a specific project or program (up to $50,000).

“BankSA Foundation exists to serve our communities through local charities. We support the purpose of organisations dedicated to improving the lives of people who are experiencing physical, social, or economic disadvantage,” the foundation said in a statement.

The Foundation, formerly known as the BankSA Staff & Charitable Fund, was formed by Bank employees to support colleagues serving in the Armed Forces in 1941.

This year, organisations in the charity sector continue to face additional funding pressure at a time when the most vulnerable members of our communities are in need of extra support.

“We know that many organisations are still recovering from losses resulting from COVID-19. In addition, natural disasters and changes to funding from sources, including Government, have impacted organisations,” BankSA said in a statement.

”The importance of strong charities to support South Australian and Northern Territorians facing disadvantage has never been greater,” it said.

This one-off grant program will support organisations with their existing and ongoing projects, building capacity and resilience for continued support of vulnerable communities. It is designed to help recipient charities develop more impactful and efficient ways of operating and delivering on their core purpose.

These smaller grants offer a refined application process with efficiency in mind for applicants.

To be eligible for the one-off funding grant, organisations need to be 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, 1997.

Applicants must also be able to demonstrate an existing and ongoing project that is making a positive contribution in South Australia and/or the Northern Territory to people who are experiencing physical, social or economical disadvantage, have the ability to reach regional, remote and rural communities and have an annual gross revenue of less than $5 million.

Prospective organisations must also be receiving less than 60% of theirincome from recurrent state or federal funding and provide recent, audited financial statements, signed by the auditor.