Deadline: 28 February 2020
Ecstra is currently inviting applicants for its Building Community Financial Capability grant to empower communities to create and scale initiatives which address entrenched or emerging issues of financial capability, inclusion and economic equality at a local level. The grants will focus on community collaboration, outcomes, impact, and the opportunity to share learnings with other communities.
Ecstra Foundation provides access to the resources Australians need to make confident money decisions now and for their financial future. Ecstra is deeply committed to building the financial capability and wellbeing of all Australians within a fair financial system.
Ecstra provides grants and support to organisations actively working in their communities on issues of financial capability, inclusion and economic equality. They are part of the National Financial Capability Strategy, a network which recognises that when more Australians are in control of their financial lives, everyone benefits.
Initiatives may include testing approaches through pilot programs, scaling up proven projects or providing resourcing support to established partnerships. Community consultations, co designed interventions, awareness campaigns and collective giving activities could be included. Communities may nominate a single project or a range of activities under the one grant application. A focus on building the financial resilience of vulnerable groups within communities is encouraged.
Community Foundations are vested in their local communities and focus on local solutions. Building financial capability, inclusion and economic equality requires participation at a local as well as national level. Ecstra seeks to engage, learn and share more about what works in communities, including in rural and regional areas.
10 grants of approximately $100,000 each will be made in early 2020, with a total grant pool of $1,000,000.
Priority consideration may be given to Proposals which address Financial Capability for the following groups or issues affecting:
- Young people
- Older people, including in aged care or home care settings
- Financial inclusion for Indigenous Australians, people with disabilities, and/or people experiencing financial hardship
- Ethical decision making in a financial context
Consideration may be given to Proposals supporting specific urban, regional and remote communities as well as a range of local, state and nationally targeted Proposals.
Organisations must be based in, registered in and conduct their activities predominantly in Australia.
The following are ineligible for support from Ecstra:
- Projects that support private business and commercial activities, except for social enterprises
- Organisations and/or activities outside Australia
- Projects that are within the remit of Commonwealth, State or Local Government responsibilities, including ASIC’s operational work
- Projects that directly or indirectly support religious or political purposes
- Projects that merely duplicate an existing resource or service
- Projects that benefit only one individual, or related parties
- Reimbursement of projects already completed, loan repayments and fundraising activities
The purpose of the assessment process is:
- To ensure grants meet the stated purpose of the Community Benefit Payments, namely promoting the confident and informed participation of investors and consumers in the financial system.
- To ensure grants align with Ecstra’s Funding Principles and stated purpose of equipping Australians with the resources and support they need to be confident making money decisions today, and to plan their financial future.
- To provide a framework for reviewing Proposals fairly and transparently.
Proposals will be assessed on whether they address Financial Capability by fulfilling at least one of the below:
- Filling an identified gap or immediate need
- Addressing the needs of a specific group of consumers
- Promoting financial empowerment for a specific group of consumers
- Piloting a new approach
- Scaling up existing programs or approaches
- Fostering collaboration
- Promoting the outcomes and impact of an evidence-based approach
- Evaluating an existing program
- Adding constructively to the ‘what works’ base
- Building organisation capacity to better serve their communities
- Mapping projects to the Ecstra Impact Framework (Inform, Engage, Grant and Build).
For more information, visit https://www.ecstra.org.au/community-foundations-grant-round