FINANCIAL uncertainty may be making life busier for charity group Anglicare WA, but its bottom line has remained resilient, in part due to a significant bequest received during the financial year.
Revenue at the group, which assists people in distress over relationships, housing or financial difficulty, grew to $29.9 million for the year ending June 30 from $25.9 million the previous corresponding period.
The figures were released at the launch of the group’s annual report this week at a private function held at the home of property developer Warwick Hemsley.
The net surplus at the group was $2 million, up from $1.1 million, and net assets grew to $13.6 million from $11 million.
The financial strength of the group comes amid growing demand as the price of housing and a patchy economy add to its workload.
Anglicare WA chairman John Barrington said the group’s financial growth had been achieved by securing new funding contracts and expanding others but added that the healthy surplus was largely due to a generous bequest from Josephine McClarty, amounting to $2 million.
“This bequest will offer Anglicare WA the opportunity to invest in the research, evaluation and infrastructure required to ensure that our clients and the community are better off because of our work,” he said.
Mr Barrington is one of several business figures on the Anglicare WA board, which includes Perilya and Gunson Resources director Peter Harley, PricewaterhouseCoopers Perth managing partner John O’Connor, and marketing consultant Carrick Robinson.
Premier Colin Barnett attended the launch and highlighted the state government’s $600 million increase in funding to service providers in the community sector.
The funding, announced in the state budget in May, is the first instalment of a 25 per cent boost over four years that was earmarked for 300 charities and not-for-profit welfare agencies with which the state government has contracts.
Mr Barnett said Anglicare was a significant provider in this respect.
The funding is part of a state initiative to ensure that not for profits providing welfare and other similar community services are financially healthy enough to deliver critical services that may otherwise have to be provided directly by the state.
Anglicare’s leadership highlighted the group’s new major project, a joint venture with Foundation Housing and Central Institute of Technology to build a mixed-use residential, retail and office project in Oxford Street, Leederville.
The building, being built by Diploma Group for $17.6 million, will house the Oxford Youth FOYER development, comprising 98 studio and one-bedroom apartments to offer affordable accommodation to at risk people aged between 16 and 25.
The project also includes onsite support and caseworker services and has been designed to provide pathways to education and training facilities.
