Jersey Charities Seek Greater Engagement from Finance Sector

A recent report indicates that charitable organizations in Jersey obtain less than 2% of their revenue from corporate sponsorships. The Value of the Third Sector report, as stated by the Jersey Community Foundation (JCF), revealed that this sector contributes £230m to Jersey’s economy, noting that its impact “often goes unrecognised”. The JCF articulated that Jersey’s third sector, encompassing charities, non-profit organizations, voluntary groups, social enterprises, and housing associations, requires “greater engagement” from the finance industry. Joe Moynihan, Chief Executive Officer of Jersey Finance, commented that “always different or alternative ways” exist for supporting the third sector. He affirmed: “We’ve always recognised just how important it is for our industry to support the local community.” He added that “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.” Moynihan further stated: “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 JCF commissioned The Value of the Third Sector report in collaboration with Jersey Overseas Aid, the Jersey Community Partnership, and PwC Channel Islands. Anna Terry, CEO of JCF, remarked that the “true value” of the third sector frequently remains unacknowledged. She stated: “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.” Terry also expressed: “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 indicated that the £230m figure “likely underestimates the full scope of the sector’s impact” because not all charities were incorporated into the data. It further noted that the report did not factor in the “immeasurable benefits” delivered through well-being, cultural enrichment, and environmental stewardship. The report additionally mentioned that respondents identified inadequate governmental support and a need for the government to “help bridge gaps” concerning access to technology and innovative digital solutions. On Tuesday, the government declared its intention to allocate £4.5m to charities and voluntary organizations across the forthcoming three years.