BankSA Foundation opens funding round with grants of up to $50,000 each
Tuesday, 28 March 2017
BankSA Foundation is calling on small organisations dedicated to making a big impact in the community to apply for funding grants of up to $50,000 each, with applications now open.
Foundation grants will be awarded to eligible community organisations that work to provide a brighter future for socially, economically or physically disadvantaged people.
Marking its 75th anniversary last year, BankSA Foundation has built up a proud history of charitable and community support since 1941 when bank staff first agreed to donate part of their wages to send comfort parcels to colleagues serving in the armed forces.
BankSA Chief Executive Nick Reade said in its 75 years, BankSA Foundation has donated more than $8 million to local organisations, including over $76,000 in this year’s first round of funding grants.
“Funding for Motor Neurone Disease Association and the extension of Childhood Cancer Association’s hospital visitation program, were selected in BankSA’s Foundation first 2017 grants round due the considerable impact this funding would have in our community,” he said.
“Over the years our contribution has been significant and driven by employee giving, and I encourage community organisations to visit our website and consider applying for a funding grant.”
To be eligible for a grant, an organisation must:
- Be located and focus its efforts in South Australia or Northern Territory;
- Have a gross annual revenue of less than $5,000,000;
- Receive less than 60% of its income from recurrent state, federal or local government funding (unless it receives an income less than $1 million per annum, in which case government funding can exceed 60%); and
- 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, 1936.
Applications close 21 April 2017. Further eligibility criteria and information on applying can be found online at www.banksa.com.au/foundation.