“The fact that our service is free, and our Home Ownership Success Team comprises social workers and community workers makes us truly unique”
“Year on year, more clients continue to move through their saving plans, bank assessments and property searches towards home ownership in a challenging market for home buyers”
Highlights
As of l November 2023, we had assessed and provided our Head Start Savings Plans to 208 households throughout Australia. This is a significant expansion from August 2022, when we provided our savings plans to 15 households, marking a 1286% increase.
93 households were supported with our Empowerment Services this includes 30 households achieving their savings buffer and 10 households getting a promotion at work.
HSH helped 9 households buy their own home, and freed up an additional 8 social and affordable homes.
We developed a national framework for our property coaches which means that our clients can access, free of charge, a network of some of the best buyers' agents during their home search stage.
We secured a $5m tender from Wollongong Council to create our rent to buy solution called Equity+.
An overview on our empowerment products, services and innovations
Head Start Homes had consistent financial growth with a strong balance sheet:
o Revenue increased 136% to $414,345 (2023) from $175,468 (2022) primarily from increased sponsorships, grants and tenders.
o Expenses increased by 152% to $351,605 (2023) from $139,598 (2022) which was anticipated given the large increase in client households and social outcomes we have generated throughout the year.
o Our operating surplus (net profit) has increased by 75% to $62,740 (2023) from $35,870 (2022)
o Our assets have increased by 238% to $1,834,622 (2023) from $542,229 (2022)
o Our Cash at bank increased by 244% to $1,826,354 (2023) from $530,705 (2022)
o There were no long outstanding aged receivables or aged payables for the current financial year.
Quotes and endorsements from the over 100 cross sector business and charities that support Head Start Homes and provide in-kind support that was valued at $513,757 this year and a total contribution of $3.5million.
A snapshot of the wonderful support provided by our skilled Volunteers who donated hours to the value of more than $100,000 this year with a total contribution of more than $600,000.
A special thanks to Bianca Bettley for her beautiful artwork that features on the cover of the annual report.
Head Start Homes also extends its gratitude to all of our amazing clients members, directors, staff, volunteers, and partners like Westpac Group, Aboriginal Housing Office, Wollongong City Council, The Snow Foundation, Lendlease, MinterEllison, St.George Bank, Centre for Social Finance Law, Corrs Chambers Westgarth, Stockland, King & Wood Mallesons, Ms Deeds Conveyancing, HighSpec Properties - Buyers Agents, Purchase with Penny, AJB Insurance Solutions, Suburbtrends and referral partners Community Housing Ltd, Link Wentworth, and the Housing Trust.
“I’m more at ease now that my kids and I have a home that we own. Knowing that we don’t have to do inspections, that there won’t be random people rocking up to do stuff, it’s just so nice to know that I’m not gonna be hassled, basically. For me, it’s such an achievement that I’ve done this and that my children are seeing this now.”
“I would like to express my sincere gratitude to Bianca Bettley for the stunningly beautiful creative featured in this report. Not only is it deeply meaningful, but it has also inspired us all. Thank you, Bianca!”
“It has been a year of ‘good growth’, new partnerships, the bedding down of our national programs and continued innovation”
