The Organisation’s statement of surplus or deficit and other comprehensive income for the year ended 30 June 2020 shows a surplus of $12,197,183 (2019: $6,208,387).
Total revenue for the current financial year is $167,340,870 (2019: $143,077,154). The main increase in revenue this year is due to the continued growth of our Social Enterprise whose sales reached $136 million (an 18.7% increase on the previous year).
The statement of financial position at 30 June 2020 shows the organisation remains financially strong with total members’ equity of $41,181,953 (2019: $29,882,602).
The charts opposite provide a snapshot of Independence Australia’s non-Social Enterprise related activities over the last 12 months. The transition to the NDIS has reached its zenith in Victoria as seen by the significant revenue now received via that program compared to the previous block funded Government funding. Income from in-home attendant care services continues to be a major part of our service offering. We continually strive to provide effective and efficient services, whilst remaining responsive to community needs with our
limited resources.
Allocation of Funding
Government grants were received to support customers in their own home, residential settings and the community, the majority under the Federal Government Continuity of Support Program. The majority was attendant care (including respite services) provided in people’s own homes and in our residential settings under the Federal Government Continuity of Support program. These grants continue to reduce significantly as customers transition to NDIS funding or Aged Care programs.
Income Streams
Analysis of income generated by Independence Australia (excluding our Social Enterprise) shows that Government grants accounted for less than 10% of the income, reflecting the impact that the transition to the NDIS is having on the sector. Fee for service, including services to the NDIS and insurers such as TAC and WorkSafe, continues to grow, whilst the remainder is from our fundraising activities.
Income Streams – Fundraising
We are very pleased with the percentage of donations to our Regular Giving Program, the most cost-effective giving option for the future. Events and mail appeals continued to be strong additions to our income streams for fundraising while telephone fundraising continued to support donor recruitments and other fundraising strategies. A very high percentage of donors for all other categories can be traced back to their beginnings through telephone fundraising.