Westpac Banking : 18/09/2017 Westpac Foundation doubles funding to $2 million for Australians in need

18 September, 2017

• Westpac Foundation funding will support around 47,000 Australians in need with 200 Community Grants awarded in Westpac's 200 year
• Westpac Foundation Community Grants are worth $10,000 each and also include invaluable non-financial support from Westpac Group employees
• Since 2012, $5.5 million in funding has been provided to local communities to help address social disadvantage

Local community organisations helping to create a fairer, more inclusive Australia have today been awarded $2 million in grant funding through Westpac Foundation's 200 Community Grants program.

The 2017 Community Grants program is Westpac Foundation's largest funding round to date and will help almost 47,000 people in need from across Australia. Organisations awarded funding will also be provided with non-financial support from Westpac Group employees to continue to build and enhance their organisations.

In its sixth year, the program helps to build vibrant and inclusive communities by assisting organisations that are working with some of the most marginalised individuals in our community.

These organisations provide much needed services that improve the quality of life for many Australians, including providing education opportunities for Indigenous Australians, support for victims of domestic violence, help for those with mental health issues, safe refuge for those who are homeless and delivering employment pathways for youth at risk.

Sinclair Taylor, Westpac Foundation CEO, said the increase in funding is testament to Westpac's commitment to support all Australians and community organisations who take a fresh approach to addressing complex social issues across Australian communities.

'Westpac Foundation is dedicated to giving everyone a fair go; which is why we are committed to supporting not-for-profit organisations that address social and economic disadvantage in their local community,' Mr Taylor said.

'For the first time, every Australian had the opportunity to get behind their local community and nominate an organisation that would benefit from a Westpac Foundation Community Grant. I am proud to say almost 1,400 nominations were received; highlighting the fantastic support behind Australian community organisations working to drive social change.'

'Thanks to the generous donations of $580,000 from Westpac employees and customers, and $500,000 from Westpac we were able to double the amount of grants available this year to 200. In doing so we are able to back more community organisations; helping to support more Australians in need,' Mr Taylor said.

Since 2012, Westpac Foundation has provided 570 Community Grants worth $5.5 million to help to address social disadvantage in local communities by supporting not-for-profit organisations which provide education opportunities, employment pathways and improve the quality of life for people in need.

In addition to $10,000 in funding, grant recipients receive essential non-financial support from Westpac Group employees, acting as Community Grants Ambassadors.

'Many of the community organisations in our program are small and don't have the resources to generate significant fundraising income of their own. Our partnership provides both financial and non-financial support to help fill some of this gap and improve the lives of Australia's most disadvantaged.

'We work with organisations to understand their unique needs and provide tailored skilled-volunteering support that draws on Westpac Group's strengths, such as financial and business services, marketing, HR and innovation. This guidance can be just as valuable as the financial grant,' Mr Taylor said.

For more information on the Westpac Foundation 200 Community Grants program and this year's recipients, please visit www.westpac.com.au/grants.

ABOUT WESTPAC FOUNDATION

Westpac Foundation is a charitable organisation with a legacy that dates back 138 years. In 1879 Thomas Buckland, the President of the Bank of New South Wales (which became Westpac), established The Buckland Fund to help families of deceased bank employees who found themselves in financial hardship. The fund commenced with Mr Buckland's initial donation of £1,000, a bonus he received for services to the bank.

Today, Westpac Foundation continues to support social enterprises and local community organisations taking a fresh approach to addressing complex social problems, borrowing the best from business and the social sector to create more opportunity for Australia's most disadvantaged. While being independent, Westpac Foundation considers Westpac Group to be its greatest supporter.

Since 1999, Westpac Foundation has granted more than $34 million to over 590 not-for-profit organisations and remains steadfast in its goal to support community organisations which are creating a fairer, more inclusive Australia for those who are experiencing disadvantage.

ABOUT 200 COMMUNITY GRANTS

Since 2012, 570 Community Grants have been awarded to a value of $5.5 million. Through our Community Grants program, we:

• Partner with smaller community organisations that require a funding boost and are often not big enough to generate significant fundraising income of their own.
• Fund organisations that demonstrate they can improve the lives of Australia's most disadvantaged; helping to create opportunities that aim to break the cycle of social exclusion and poverty.
• Offer all grant recipients non-financial support, including but not limited to being offered a Westpac Foundation Ambassador

HIGHLIGHTS FROM THE 2017 WESTPAC FOUNDATION COMMUNITY GRANTS PROGRAM

• 1,399 nominations were made
• 1,110 applications were submitted by 959 community organisations
• It is estimated that 46,961 people will be supported in the community as a result of the 200 grants
• 39 (20%) grant recipients have been funded previously by Westpac Foundation
• 60% of grant recipients have a gross annual revenue <$1m