Executive Officer Julie-Anne Clarke said the Board of Management and staff are very excited about the benefits this will have for the community and staff members.
"This status will allow our organisation to receive tax exemptions and access certain government funding streams specifically designated for benevolent purposes,” Ms Clarke said.
"Donations made to organisations with DGR status are tax deductible for the donors, providing an incentive for philanthropic giving.”
Benefits for community members will include YMCLC to access additional funding and resources, allowing them to enhance programs and introduce new initiatives to better serve the community as well as allowing YMCLC to make their services more accessible to the community and to improve the quality and scope of services.
There will also be benefits for staff, providing stability and sustainability to the organisation and ensuring job security. Also allowing YMCLC to provide them with additional benefits and incentives.
"With increased funding, we can invest more in staff training and development programs, empowering our team members to enhance their skills and expertise, ultimately improving service delivery," Ms Clarke said.
"Additionally, there will be benefits for philanthropists as now all donations made to our organisation are tax deductible.
This provides philanthropists with an incentive to support us in making meaningful contributions to the community."
As a DGR-endorsed charity, YMCLC can now provide an incentive for people to donate because people who make donations can claim the donation as a tax deduction when filing their income tax return and the ability to receive funds and donations from other not-for-profit organisations that have DGR status.
"We are excited about the opportunities it brings to further our mission and serve the community," Ms Clarke concluded.
