Deadline: 21-Jul-23
The Lord Mayor’s Charitable Foundation is seeking applications for the Work Integration Social Enterprise (WISE) Grant, a new grant program that will provide up to $4 million to social enterprises that exist to create jobs and employment pathways for Australians facing barriers to mainstream employment.
Lord Mayor’s Charitable Foundation is the Initiative Host and WISE Grants funds are held in the Foundation’s WISE Collaboration Giving Account.
The WISE grant is a collaboration between eight partner organisations Paul Ramsay Foundation, Westpac Foundation, Macquarie Group Foundation, and Lord Mayor’s Charitable Foundation, Vincent Fairfax Family Foundation, Minderoo Foundation, and English Family Foundation. MinterEllison are providing invaluable pro bono advice on the grant program’s governance.
These grant partners recognise the economic and social value of WISE and have pooled funding to help create a more accessible and streamlined approach to supporting WISE seeking to build their financial resilience and impact.
The grant program is offering two types of multi-year grants available to fund “core” costs to build the organisation’s capacity to create meaningful jobs and employment pathways for disadvantaged job-seekers.
Purpose
- Foundational support for your social enterprise to develop and refine its impact model and build trading revenue towards greater financial resilience.
- To strengthen and prepare your enterprise for future growth based on a stable and proven impact and business model.
Tiers
- Tier 1 grants: Valued at approximately $200,000 over two years ($100,000 a year) to support WISE at “the experienced start-up and survival stages” to develop their impact and business model towards greater financial resilience.
- Tier 2 grants: Up to approximately $500,000 over two years ($250,000 a year) to support WISE at the “stable and early sustainable stages” to strengthen and prepare them for future growth based on a stable and proven impact and business model.
Funding Information
- Tier 1: Up to $200,000 over 2 years ($100,000 a year)
- Tier 2: Up to $500,000 over 2 years ($250,000 a year)
Job and Financial Outcomes
- Flexibility will be applied to these employment and financial outcomes for regional and rural social enterprises
- An early-stage business model or start-up business plan
- The enterprise aims to create a min of 5 FTE “award wage” jobs for people with complex needs annually
- The enterprise aims to generate trading revenue of up to $500,000 within the next 2-3 years. The enterprise has a goal to increase its financial sustainability over time, including its % of income through trade.
- A proven business model and business/strategic plan
- The enterprise aims to create a min of 10 FTE “award wage” jobs for people with complex needs annually.
- The enterprise has been trading at least 2 years with trading revenue of $500,000+ per annum. The enterprise is focused on increasing its financial sustainability, including its % of income through trade, and to attracting impact investment in the next 2-3 years.
Eligibility Criteria
- If you are currently receiving a major grant (approx. $400,000+) from one of the philanthropic organisations partnering on the WISE Grants, please reach out to your contact at that funding organisation to discuss your eligibility.
- If you can meet each of these requirements, you are eligible to submit an expression of interest:
- My organisation is based in Australia with TCC and DGR 1 status. Aboriginal Controlled Organisations with TCC and DGR1 are encouraged to apply. Auspicing arrangements cannot be considered.
- They are a social enterprise with a mission to help create “award wage or greater” jobs and employment pathways for Australians facing barriers to mainstream employment in one or more of the grant’s target groups.
- They are either a stand-alone social enterprise or social enterprise within a non-profit (the non-profit must be able to provide separate financials and a business plan for the social enterprise).
- They are not requesting funds for any of the following exclusions: charity works outside of Australia, sponsorship or fundraising activities, or retrospective activities.
For more information, visit WISE.