As a non-profit organisation SVA is reliant on the generosity of individuals, families and businesses, who have a desire to create social change through philanthropy, to fund our work. SVA has Deductible Gift Recipient (DGR) status and therefore any donations to SVA made by individuals, corporate entities or trusts are tax-deductible.
Approximately 50 per cent of our external funding comes from individuals (including families and family foundations) and the balance comes from corporations (direct or through corporate foundations or trustee companies). We do not seek government funding for SVA operational support although we do partner with several government bodies for some of our community initiatives such as the Social Enterprise Hubs. We also administer grants on behalf of various government agencies, as part of specific government programs such as the Queensland Inclusive Social Enterprises.
Some of our funding has been sourced from SVA’s key executives. Michael Traill AM, SVA’s Chief Executive, and his wife Jenny have contributed $250,000 to SVA. In addition it is expected that the majority of grants from a Private Ancillary Fund established by Michael and his father Bill (established with capital of $540,000) will be allocated to SVA.
Chris Cuffe, Chairman, SVA Future Trust, is a trustee of the Christopher Cuffe Foundation which has committed $1,000,000 to the work of SVA.
Since SVA’s inception in 2002 up until 30 June 2009 SVA has received cumulative revenue of $38.21 million (excluding SVA Future Trust allocations) split year by year as follows:
These figures include income generated internally, but excludes funds allocated to SVA Future Trust and associated investment earnings. For example, fees received on a cost recovery basis from consulting services as well as other income such as interest received on working capital reserves.
We expect that internally generated income will become increasingly important in future years, which is part of our strategic intent to increase our sustainability.