You are currently not logged in

Log in
Subscribe
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered

Financial contribution of Australia’s not-for-profit sector revealed

Non-profit organisations contributed close to $43 billion (or 4.1 per cent) to Australia’s economy in 2006-07, according to the Australian Bureau of Statistics.

The ABS Non Profit Institution Satellite Account provides a comparable measurement of the non profit, or third, sector relative to the general economy.

The ABS also found that volunteers contributed over 600 million hours to non profit organisations in 2006-07, equivalent to 317,200 full-time jobs worth over $14 billion.

Parliamentary Secretary for Social Inclusion and the Voluntary Sector, Senator Ursula Stephens said the data on the non profit sector released today confirm the third sector’s highly significant contribution to our country’s economy.

“Not only does the sector make a valuable economic contribution to our country, but non-profit organisations also play an invaluable role in responding to community needs, building social capital and bolstering resilience when times get tough.

“The Australian Government highly values the work of the sector and we are pursuing a number of reforms to the sector’s operational environment.

“Through our work with the states and territories, we are easing the burden of red-tape and bringing greater consistency to sector regulation.”

No comments | be the first to comment

Comment Manually

Read more

Poll

Should NFPs be adjusting to a younger donor demographic?
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered