Stories

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

Marina Elliott September 18, 2009

< 1 min read

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.”