17806 Annual Report 2021.indd

Financial Summary

Acknowledging and immensely appreciative of the resilience of Momentum Collective’s front line and office-based workforce during what has been another extraordinary and challenging year. Momentum Collective reports an Operating Surplus before gains / losses on investment properties and funds (out of) / to Sinking fund reserve, for the financial year ended 30 June 2021 of $818K (2020: $1,555K). Momentum Collective entered the 2020-21 financial year well positioned. Net Operating Surplus for the year ended 30 June 2021 was $824K (2020: $1,094K). COVID-19 impacted our service delivery and workforce and brought new challenges and opportunities. There was a positive boost to Momentum Collective’s results with a one-off time limited COVID-19 funding to support our frontline services working with people experiencing domestic and family violence, plus additional temporary NDIS financial support measures. We generated strong business income from our social enterprises reflecting the surge in consumer demand for second-hand goods as a result of COVID-19. We were successful in recommissioning for a further three years our Specialist Homelessness Services with the NSW Department of Communities and Justice. We commenced our Community Housing development project of an eight unit Affordable Housing property in Casino.

We commenced the development of our Strategic initiatives across the five strategic priorities:

Grow Grow our impact through doing more of what we’re good at, in our current geographies Connect Build on our community connections Innovate Innovate our delivery of client outcomes Invest Enhance our capabilities through investing in our people, systems, and processes Amplify Amplify our impact through action, stronger communication, and advocacy.

32 | Momentum Collective

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