Third sector urge for more support from Jersey finance sector #CashNews.co

Charities in Jersey receive less than 2% of income from corporate sponsorships, according to a new report.

The Value of the Third Sector report said it contributed £230m to Jersey’s economy and that its contribution “often goes unrecognised”, the Jersey Community Foundation (JCF) said.

JCF said Jersey’s third sector, which includes charities, non-profit organisations, voluntary groups, social enterprises and housing associations, needed “greater engagement” from the finance industry.

Joe Moynihan, Chief Executive Officer of Jersey Finance, said there were “always different or alternative ways” of supporting the third sector.

He said: “We’ve always recognised just how important it is for our industry to support the local community.

“Our member firms make a very positive contribution to island life, as well as to communities further afield, in a variety of ways – either through the firms or through the individuals who work there.

“We see a great deal of hard work going on behind the scenes across our member firms, from volunteering and fundraising for community projects and charitable initiatives to supporting educational, sports and environmental programmes and providing sponsorship.”

The Value of the Third Sector report was commissioned by the JCF in partnership with Jersey Overseas Aid, the Jersey Community Partnership and PwC Channel Islands.

JCF CEO Anna Terry said the “true value” of the third sector often went unnoticed.

She said: “This report shines a light on the incredible contributions of Jersey’s third sector, not only to our economy but also to the wellbeing of our island community.

“Our hope is that this report will cultivate a deeper appreciation for the third sector and inspire greater collaboration and investment from all corners of the Island – whether through donations, volunteering or strategic partnerships.”

PWC said the £230m figure “likely underestimates the full scope of the sector’s impact” as not all charities were included in the data.

It said the report did not account for the “immeasurable benefits” provided through well-being, cultural enrichment and environmental stewardship.

The report added that respondents found there was insufficient support from the government and that it needed to “help bridge gaps” around access to technology and innovative digital solutions.

The government announced on Tuesday that it would be allocating £4.5m to charities and voluntary organisations over the next three years.