The value of the third sector: What does this mean for Jersey?

Orchard attended the launch of the ‘Value of the Third Sector Report’ event this week, delivered by the Jersey Community Foundation in Association with PwC Channel Islands. The report gathered vital data on the third sector, allowing analysis to now take place to establish its impact on the community and economy, its role in social well-being as well as the current challenges faced by the sector.

The island is home to 775 charitable organisations, more than there are financial services businesses. It may surprise you to learn that they also contribute more to the island’s economy than the total of the fund administration sector, providing £230 million, nearly matching that of the legal sector. The sector itself can be misunderstood, but it is hoped that with more data, transparent reporting, collaboration and common touch points, the vital heart of our island can adapt to become more resilient and open to innovation and transformation.

Key findings from the survey found that:

Panelists of the event - including Daniel Chan from PwC, Anna Terry, CEO of Jersey Community Foundation, and Beth Gallichan of Bethspoke - discussed how we can use this report to help these organisations work together more effectively to bring about real change; rather than reducing the number of charities we should look at synergies between their models and objectives, exploring collaboration over competition.  

How we engage with charities as islanders also needs to change.  Charities need more volunteer time donated to them, but people also need to question the impact of our charities to inspire more data-driven reporting and reflection of their value. The goal would be to build giving into corporate cultures and ask companies to demonstrate their social value within any given community. Understanding that offering charities skills, data and systems can have as much or even more benefit than financial donations for restrictive projects, as research supports that fostering relationships between sectors increases the impact charities can have. 

Importantly for us as communicators, the event explored the need to encourage more charities to improve their reporting and communications to stakeholders, so that they match other business sectors in terms of accountability. There is a real fear of losing funding from reporting, especially if objectives are not meet, but the sector would become more resilient for understanding why these goals could not be met and how to adapt accordingly. On a small island like Jersey, it should be feasible to build good profile and visibility, whilst we encourage stakeholders to look towards a ‘return on spirit’ as opposed to a return on investment. 

Orchard offers preferential rates for charitable organisations and supports a local charity in Jersey and Guernsey each year for free as part of its sustainability plan.  

The report is available to read by clicking here.