About this organisation
Summary of activities
Venture owns and manages 523 affordable and social homes across Tennant Creek, Katherine, Palmerston and Darwin. In the 2023-24 reportable year, we progressed planning for or completed several Social and Affordable Housing developments in Katherine, Tennant Creek and Palmerston, through development and construction, and by utilising a mix of NTG and Commonwealth capital contributions, NTG gifted land and Venture s own equity and land. These partnership projects will further increase our owned and managed homes by 57 social and affordable dwellings: 8 in Katherine - completed, 12 in Tennant Creek, 19 in Palmerston for lease due 2024/25, and 18 new social housing properties for ownership in late 2025. Venture s Strategic Asset Management Plan (SAMP) is reviewed and updated annually in response to our changing business and to reflect the diversity of our owned and managed portfolio. Key drivers to this year s SAMP review include: The 250 public housing properties transferred from NT Government under our management; The finalisation of the transfer of all 78 John Stokes dwellings, and overall precinct management; Activating our divestment strategy to recycle ageing assets, to generate equity towards new growth initiatives, and to ensure we mitigate long term maintenance liabilities; Further highlights this reportable year: We received capital funds from NTG, Barkly Regional deal and Housing Australia and commenced construction of 12 social and affordable housing development in Tennant Creek. This co-funded partnership is the first for the NT. Completed our Award-winning affordable housing development in Katherine and welcomed our new tenants. Took handover of the remaining building comprising eighteen one-bedroom apartments at John Stokes, which are now homes to affordable housing tenants and people with disabilities. Collaborated with the NTG and TeamHealth to co-fund the building fit out of the two NGO spaces at John Stokes and executed the Lease with Team Health who are delivering programs on site. Our Rent Choice Subsidy program was extended with an additional $3Million from NT Government. Executed the terms of the transfer for management of 250 public housing homes in Palmerston, mobilised a new team and engaged with the tenants as their new landlord with go live on 1 July 2024. Our tenants who identify as Aboriginal and Torres Strait Islander increased to over 50% of our tenancies- a steady increase from 16% in 2020 through targeted allocations and sustainable tenancies approach. Achieved significant improvements in our Tenant Satisfaction Survey results. Maintained NRSCH Tier 1 registration. Participated in CHIA NT s Industry Development Plan, the Capability Framework workshops which enabled our team to network with other industry professionals and inform the capacity and professional skills requirements in a growing and emerging sector.
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Programs and activities
Name: Social and Affordable Housing Provider
Classification: Housing development (Economic development > Housing development )
Beneficiaries:- Families
- Financially disadvantaged people
- People at risk of homelessness/ people experiencing homelessness
- People with disabilities
Name: Specialist Disability Accommodation (SDA)
Classification: Housing for people with disabilities (Human services > Shelter and residential care > Supported housing > Housing for people with disabilities)
Beneficiaries:- People with disabilities
Name: Rent Choice Private Rental Subsidy Program
URL: https://venturehousing.org.au/rent-choice
Classification: Rent and mortgage assistance (Human services > Shelter and residential care > Housing services > Rent and mortgage assistance)
Beneficiaries:- Adults - aged 25 to under 65
- Families
- Financially disadvantaged people
- People at risk of homelessness/ people experiencing homelessness
- Youth - 15 to under 25
Finances
What is this?
This graph shows how much revenue (money in) and expenses (money out) the charity has had each year over the last few years. Charities have many sources of revenue, such as donations, government grants, and services they sell to the public. Similarly, expenses are everything that allows the charity to run, from paying staff to rent.
What should I be looking for?
First off, this graph gives a general indication of how big the charity is - charities range in size from tiny (budgets of less than $100,000) to enormous (budgets more than $100 million). You're also looking for variability - if the charity's revenue and expenses are jumping up and down from year to year, make sure there's a good reason for it.
Unlike companies, charities and not-for-profits aren't on a mission to make money. However, if they spend more than they receive, eventually they will go into too much debt and run into trouble. As a very general rule, you want revenue to be slightly above expenses. If expenses is reliably above revenue, the charity is losing money. If revenue is much larger than expenses, it means the charity might not be using its resources effectively. It isn't always that simple, however, and there's a lot of reasons a charity might not follow this pattern. They might be saving up for a big purchase or campaign, or they might have made a big one-off payment. If you're worried, always look at the annual and financial reports to understand why the charity is making the decisions it is.
What is this?
If a charity receives more money than it spends, that's a surplus (in business, it would be called profit). If it spends more than it receives, that's a deficit. This chart shows surpluses and deficits for the charity over the last few years.
What should I be looking for?
Unlike companies, charities and not-for-profits aren't on a mission to make money. However, if they spend more than they receive, eventually they will go into too much debt and run into trouble. As a very general rule, you want a charity to make a small surplus on average. A deficit means that charity lost money that year, which may indicate poor financial management or just a series of bad circumstances. If the charity always has a huge surplus, it means the charity might not be using its resources effectively. It isn't always that simple, however, and there's a lot of reasons a charity might not follow this pattern. They might be saving up for a big purchase or campaign, or they might have made a big one-off payment. If you're worried, always look at the annual and financial reports to understand why the charity is making the decisions it is.
What is this?
This chart compares the amount the charity receives from various sources, including donations (i.e. money given by the general public or philanthropy), goods and services, government grants, and other sources.
What should I be looking for?
Donations are an important source of revenue for some charities. Others rely more heavily on government funding, or on revenue from other sources. This is an indication of how much they need donors to accomplish their mission. Note that there is no 'good' or 'bad' amount of donations for a charity to have. It might be interesting to look at values over time - are they going up or down? A charity that gets less donations every year may be in trouble.
What is this?
Assets are things that the charity owns that are worth something. This could be anything from a car to investments. Similarly, liabilities are debts or obligations that the charity owes to someone else, like a loan or an agreement to pay for something.
What should I be looking for?
Firstly, in general a charity should have more assets than liabilities. If it doesn't, it implies that the charity might not be able to pay its debts, and you should look very closely at the charity's annual and financial reports to make sure they are taking steps to remedy this. Current assets should generally be above current liabilities - that means the charity can easily pay off the debts that are coming due soon. Beyond that, look for a large stockpile of assets. While a charity should have enough assets to keep it afloat in hard times (a 'buffer') if that stockpile gets too large the charity could be using that money more effectively. As always, if you have concerns check the annual and financial reports.
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