NAB Foundation opens $1.2 million grants program to start-ups and for-profit social enterprises for the first time
The NAB Foundation, has today opened its annual grants program, which will take the total amount donated to community groups to more than $10.4 million over the past nine years.
This year the program will, for the first time, open to applications not only from not for profits, but also from purpose-driven start-ups and for-profit social enterprises.
Successful grant partners will have the security of a commitment of up to three years from the NAB Foundation, up from one year, and all grants given will go specifically to groups working to address two important societal issues: financial shocks and domestic and family violence.
NAB’s General Manager of Corporate Responsibility Jodi Geddes said the longer, three-year time frame for investment will help make sure the funds invested have maximum impact.
“Too many Australians experience the burden of financial difficulty and domestic and family violence, and at NAB we want to lift the bar in these areas,” Ms Geddes said.
“NAB has an important role to play in our community – and these grants will help Australian not-for-profits and social enterprises find innovative solutions to these challenging societal issues.”
The 2017 NAB Foundation grants program encourages innovative thinking by the recipients.
“The funding will help organisations test their ideas and think and work differently to help solve long-term societal problems,” Ms Geddes said.
Since the Foundation was established in 2008, $9.2 million has been invested into 25 not-for-profit organisations supporting positive social change in communities across Australia.
Successful NAB Foundation grant recipients will receive up to $500,000 over a period of up to three years, from a pool of approximately $1.2 million.
Two types of grants are available; the first supports new charities and social enterprises develop their ideas, or alternatively, funds will help existing charities or social enterprises to grow.
All Australian charities, social enterprises, and for-purpose start-ups are encouraged to apply. Applications open today and close at 5pm on Friday, 21 April 2017.
For more information about eligibility and how to apply visit www.nab.com.au/nabfoundation
Note to editors – The MLC Community Foundation was renamed The NAB Foundation in 2016.