Understanding how your gift helps us bring them to a home.
V360 Australia Ltd are not currently required to submit reports to ACNC as we receive less than $250K in total revenue.
For us the answer to these questions is simple: Yes, yes, yes and read on…
While we are often called Veterans 360 Australia or V360A – V360 Australia Ltd is our officialy registered name with ASIC and we are listed with the Australian Charity and Not-for-profit Commission (ACNC). This status was granted to us from 2 December 2015, and although we have not yet reached the benchmark for providing detailed financial reports (income of $250,000 per annum), we submit our information voluntarily to ensure our supporters can see where and to whom their gifts are distributed.
What this means is your donation is accounted for in an approved format and all financial dealings are subjected to scrutiny by this government authority. Deductible Gift Recipient (DGR) status has also been granted by the Australian Taxation Office, which allows us to issue tax deductible receipts for donations of $2.00 or more.
Your gift helps us locate, identify and assist Australia’s vulnerable, at risk and homeless veterans. Depending on their situation we assist our clients into crisis, supported and/or permanent accommodation. We also work closely with medical and mental health providers to ensure the best care is available from the beginning of our involvement.
Additionally, donations also provide resourcing for those veterans who require ongoing case management while addressing their personal situation and during their recovery from the causes and effects of homelessness.
One hundred percent of our clients are affected by some form of mental health condition. This is why we have evolved into a mental health crisis intervention and referral service.
We have a volunteer national mental health advisor in Sydney, Dr Paul Phillips, and we partner with mental health professionals in hospitals and clinics all over Australia. We established these relationships to implement intervention programs designed to assist current clients and through collaboration prevent many other veterans from becoming homeless or suffering further as a result of their service.
As one of the most dynamic and responsive charity operations in the country, V360A are proud to serve our veterans with passion, drive and a solutions based program that empowers their recovery, rather than enabling co-dependence, which can interfere with their opportunities to live independently with dignity and pride.
We aim to keep our administration costs low so the money we receive can be used where it is needed. In being mindful of admin costs it ensures our operators are able to concentrate their efforts on the coalface, assisting our vulnerable and at risk veterans.
To date the set-up costs, bank charges, printing, contracted services (such as auditors, accounting and government fees), have come from the Directors’ personal contributions and specific gifts from our supporters. While most of our professional services are sourced from in-kind contributions provided through valued partnerships, some areas of compliance do cost money, which is the same for any not-for-profit organisation.
An example of such a partnership is found with the Smithfield RSL Club Ltd, who recognise our expertise in the area and fully fund our free call 1800 number. This service operates 24-hours a day, seven days a week, to receive crisis referrals and provide immediate assistance to veterans who may not have access to paid telephone services.
In another example: we pay just under $160.00 per month for insurance that covers our staff and volunteers around the country. This provides $20 million cover for public liability and loss of income for staff and volunteers who may be liable for various matters including being injured at work. This insurance is similar to the VITA insurance many ex-service organisations (ESOs), must subscribe to in order to operate.
Furthermore, we must have this administration cost to comply with OHS laws and perform the often risky, sometimes unpredictable tasks this work demands of our dedicated people.
There’s a common misconception among the public that operations are counted in costings as ‘administration.’ Operational costs are a required aspect of our service delivery and do not fall under the banner of administration. However, if any charity or veteran support organisation traveled expressly for a fundraiser (say a bike ride or camping night out), meetings or a media event, that would come under administrative and/or fundraising expenses.
To date our national team has assisted around 500 veterans, family members and loved ones across a range of different circumstances. That’s about 100 a year since inception. As such, we must be mindful of the money we are gifted because we know you worked hard to earn it and in gifting it to help others, you must be satisfied that it is going towards a worthy cause.
Compared with the traditional organisations, we receive among the lowest dollar amount for a registered veterans’ charity in Australia. However, we deliver the highest value service per dollar invested and we are determined to maintain this as a standard while assisting many more veterans into the future.
In 2015 we started V360A because we saw a gap in ex-service organisations and how they were (or were not), addressing veteran homelessness. We discovered this gap is part of a national problem that needed the creation of a dynamic, veteran centric, first-responder model.
In our minds it was those veterans already experiencing homelessness who were falling through those gaps, with some resorting to alcohol and substance use to try and forget how far they had fallen, while others were languishing in custody with little hope in life because no one thought to look for them.
Our beginning was born of hope and opportunities and after consulting with several subject matter experts, the founding Board of Directors decided they had to try and assist as many veterans as possible, as effectively as possible and as fast as possible. That gets you to right here, right now!
Enquiries are welcome by calling us and donations can be made by clicking the donate button or visiting our gift page here
We have raised approximately $340,000 in total (as yet unaudited). This amount, which includes a government gift and three Department of Veterans’ Affairs contracts, has been utilised to execute our mission and assist those who have come to our organisation in need of assistance.
The amounts have been used across Australia for the benefit of bringing services to vulnerable and at risk veterans experiencing homelessness in a number of circumstances, many of them involving the need for immediate (time critical) responses. We also provide a valuable first response service to veterans who deal with psychological injuries and other significant mental health issues.
While we work long hours with our clients, we also spend valuable time fundraising, which can take away from other duties and of course the time for our operations team to relax and be with their families and loved ones. That said, the mission is far from complete. We will maintain our resilience and tenacity in continuing to seek solutions for vulnerable, at risk, homeless and injured veterans as long as there is a need.
THIS FINANCIAL YEAR01/07/2018 – 30/06/2019 |
|
| Total credits | $2,964.97 |
| Total debits | $5,670.62 |
| Closing balance | $ 5,513.67 |
| Balance to date (excludes residual from 17/18 EOFY) | -$2,705.65 |
| NAB statements are calculated on the anniversary of the account opening and not the end of a calendar month, which may create anomalies when reading unaudited data. | |
LAST FINANCIAL YEAR01/07/2017 – 30/06/2018 |
|
| Total credits | $200,337.21 |
| Total debits | $194,823.54 |
| Closing balance | $ 5,513.67 |
| Total funds raised since inception | $339,851.31 |
| NAB statements are calculated on the anniversary of the account opening and not the end of a calendar month, which may create anomalies when reading unaudited data. | |
FIRST FINANCIAL YEAR29/12/2015 – 24/03/2016 |
|
| Total credits | $4,896.45 |
| Total debits | $2,759.72 |
| Closing balance | $2,136.73 |
| 25/03/2016 – 24/06/2016 | |
| Total credits | $8,374.65 |
| Total debits | $4,810.61 |
| Closing balance | $5,700.77 |
SECOND FINANCIAL YEAR25/06/2016 – 23/09/2016 |
|
| Total credits | $38,665.17 |
| Total debits | $12,862.74 |
| Closing balance | $31,503.20 |
|
24/09/2016 –23/12/2016 |
|
| Total credits | $17,162.57 |
| Total debits | $37,971.63 |
| Closing balance | $10,694.14 |
|
24/12/2016 – 27/01/2017 |
|
| Total credits | $ 2,595.15 |
| Total debits | $11,883.31 |
| Closing balance | $ 1,405.98 |
|
28/01/2017 – 24/03/2017 |
|
| Total credits | $18,750.67 |
| Total debits | $14,641.11 |
| Closing balance | $ 5,515.54 |
|
25/03/2017 – 23/06/2017 |
|
| Total credits | $15,602.38 |
| Total debits | $20,440.33 |
| Closing balance | $ 677.59 |
This page will be updated as required. If you have any questions regarding the income and expenses of V360A you are invited to contact us via our Facebook page (messenger), or call 1800 838 360 to be provided with our enquiries email address.
We appreciate all who support us and we encourage every ex-service organisation (ESO), to publish their financials to ensure transparency, provide knowledge of actual investment in the sector and ensure confidence in the sector.
We have established an account with PayPal to receive direct deposits, debit & credit card donations, for just 1.1% plus a $0.40c transaction fee. We also allow bank transfers so that we can get 100% of the donation directly into the V360A bank account. Our bank does not charge us annual fees for our accounts.
Crowdfunding websites usually charge around 10% – 15% of all donations received, hence we do not use third party websites for our fundraising initiatives.
PayPal Donations02/02/2016 – 28/06/2016 |
|
| Total credits | $3,282.78 |
| Number of donations | 32 |
| Average amount | $102.59 |
08/07/2016 –30/06/2017 |
|
| Total credits | $14,711.48 |
| Number of donations | 80 |
| Average amount | $183.90 |
01/07/2017 – 29/06/2018 |
|
| Total credits | $16,581.98 |
| Number of donations | 77 |
| Average amount | $215.35 |
15/07/2018 – 14/08/2018 |
|
| Total credits | $1,799.50 |
| Number of donations | 10 |
| Average amount | $179.95 |
TOTALS |
|
| Total amount received | $36,375.74 |
| Number of donations | 199 |
| Average donation | $182.79 |
Transaction Fees |
|
| Transaction fee $0.40 (each) | $79.60 |
| PayPal fee 1.10% | $400.13 |
| Total cost of donations | $479.73 |