The outlook for philanthropy during COVID-19

Two important reports have been released in the last week, identifying the potential outlook for philanthropy and volunteering in the next 12 months, with predictions of a fall of up to 20% in income for the charity sector and a possible loss of 200,000 jobs due to a combination of a major economic downturn and a global health crisis. 

Social Ventures Australia and the Centre for Social Impact in a recent report agree that charities play a critical role in the Australian community and economy, filling the gap between government services and the private sector and individuals in providing vital services and support.

Some 57,000 registered charities in Australia, with total annual revenue of $155 billion, employ more than 1.3 million people and utilise the unpaid labour of 3.7 million volunteers The well-being of this sector is vital to the overall financial health of our economy and our entire society.

For more details on why the financial health of our charities is important, please click on the attached links to the JB Were and the CSI/SVA reports.

Image courtesy CSI and Social Ventures Australia.