Supporting organisations on the financial frontline of COVID-19

Rapid and right-sized response is crucial in order to address the issues facing Australia during COVID-19, as the economic and emotional impact of job losses, debt, and lack of savings in many households multiplies.

The unprecedented Federal Government support announced in the last two weeks will save many jobs, livelihoods, charities and businesses. Yet, we know that philanthropy always has a crucial role in meeting need where government funding does not reach.

Demand for financial help in the response phase of COVID-19 will continue for many months, particularly as the economic and emotional impact begins to affect households across Australia.

This is precisely why Ecstra Foundation has launched the $3,000,000 Response and Recovery Grant round, aimed at those organisations on the financial frontline.

At Ecstra Foundation, we are focused on building individual and community financial wellbeing across Australia. Through the coronavirus crisis Ecstra has quickly identified that organisations on the financial frontline are helping Australians in financial distress and need additional support to keep delivering important services.

Support for those on the financial frontline

The Ecstra Response and Recovery Grants focus on practical support for frontline community organisations who assist Australians on a range of complex financial issues, including debt and credit stress, job loss, social security, essential services, scams, financial abuse, legal and tenancy issues.

At Ecstra, we are here to help these organisations respond to the immediate crisis, deliver vital services, support staff working remotely, and to adapt services and plan for long-term social and economic stability beyond the crisis period.

Total grant pool of $3,00,000 where DGR 1 organisations can apply for up to three grants of $100,000
Organisations must be an established community organisation with proven experience working with Australian consumers on issues of financial assistance, financial hardship and/or financial education

Continuous community assistance

Caroline Stewart, CEO of Ecstra explains why this support is vital, saying: "We are committed to ensuring that extraordinary organisations can continue to innovate and build financially sound communities. This grant of $3 million for Response and Recovery during COVID-19, ensures that those organisations on the financial frontline are supported as they help thousands of consumers to navigate complex financial issues.”

“We are here to help these organisations respond to the immediate crisis, deliver vital services, support staff working remotely, and to adapt services and plan for long-term social and economic stability beyond the crisis period,”

“We are constantly assessing the needs of the community, and this new $3 million grant offers swift support addressing COVID-19. In addition, we are still supporting the ongoing financial wellbeing of Australians. Currently we have a grant round of $1 million for Financial Wellbeing and Ageing Well and encourage organisations supporting older Australians to navigate their financial future to apply,” said Stewart.

On the frontline of response

One of the organisations seeing the financial issues unfold during this crisis is Joanne Shulman, CEO at Redfern Legal Centre.

Shulman highlights that "What we are already seeing is the devastating flow-on effect of the coronavirus, which is cutting across areas of peoples’ lives. Job instability leads to the inability to pay rent and bills, or to purchase necessities. We anticipate this will lead to spiralling rates of debt and an increased reliance on credit cards and ‘quick fix solutions’ like payday loans to survive.”

“In times of crisis, domestic violence spikes, and our financial abuse service is already seeing some increases in case load in response to the crisis. Undoubtably this is only going to get worse.”

“Incredibly, Ecstra is one step ahead of spiral with the announcement of these grants. These grants will allow organisations on the front-line to provide much needed support, advice and assistance to people experiencing financial distress," concluded Shulman.

Applications close end of April

Applications for these grants are open until 30 April 2020, and will be assessed swiftly to ensure a thriving future for those on the financial frontline in Australia.

The current open grant rounds on offer from Ecstra Foundation are available at: https://www.ecstra.org.au/get-involved