The Foyer Foundation is confident it can accelerate its efforts to tackle youth homelessness, after extending its partnership with Australian Finance Group Ltd (ASX:AFG) for a further three years.
AFG, one of Australia’s largest networks of mortgage brokers, will provide $600,000 to the Foyer Foundation over the next 36 months, building on the $200,000 provided when it became principal partner in 2021.
The extended funding and partnership will assist Foyer Foundation with its mission of supporting over 500 young people across 13 established Foyers in Western Australia, South Australia, Victoria, New South Wales and Queensland, and to support its plans to establish a total of 30 accredited Foyers by 2030.
The sponsorship focuses on three key pillars of support – strategic growth, educational and employment pathways, and the AFG Independence fund.
Keith Bryant, Foyer Foundation Chair said: “We are absolutely delighted to continue our partnership with AFG. The Foyer Foundation is committed to growing, supporting and accelerating the Foyer approach and working in collaboration with the Foyer Network.
“A key part to our successful partnership is the AFG Independence fund. Over the last twelve months it has supported 87 young people with educational, employment and wellbeing resources. The access to financial resources to pay for course fees, laptops, school and work uniforms, driving lessons and more ensures our young people are one step closer to transitioning to independence. We are so grateful.
“We look forward to the next three years as we work together to deliver over $140,000 in Independence Fund grants alone and further funding will strategically support our work with cross-sectoral partners to improve the quality and practice of Foyers as more than a solution to homelessness. We will focus on early intervention and aim to further promote health and wellbeing outcomes for young people so they can thrive, not just survive”
AFG CEO David Bailey said the new agreement aims to give the Foyer Foundation the added certainty and security it needed when planning into the future.
“After seeing how impactful the Foyer Foundation’s work has been over the last year, we have extended our support,” he said. “It is so important to have a place to call home – AFG sees that first hand as one of Australia’s largest networks of mortgage brokers.
“Access to stable and secure housing via Foyer’s integrated learning and accommodation can put young Australians, at risk of disadvantage, on track for a brighter future, and we are proud to be part of that journey.”