Governance
Joii Ltd. is a Public Benevolent Institution with Item 1 Deductible Gift Recipient (DGR) status. We are governed by an Independent Board of up to seven volunteer directors.
The board
Joii is governed by an independent board, experts in their respective field.
Our directors bring with them a plethora of industry experience and valuable knowledge that has allowed Joii to rapidly grow into an organisation with the sole purpose of delivering opportunity for those who need it the most.
Financials
Joii is a self-funding organisation, with Social Enterprises delivering competitively priced, commercial grade products and services (Carpentry, Roofing, Tiling, Bricklaying, Tech, Labour Hire, Ethical Offshoring and Immigration Services) providing the income required to operate several Social Impact Enterprises and programs in employment and housing.
When interpreting our financial information, be aware that Joii’s Social Impact Program participant and overhead costs are included in employee and other expenses, as they are paid as part of Joii’s regular workforce. However, they are heavily subsidised by the funding-generating Social Enterprises.
Donations
Joii doesn’t encourage donations, instead, we set up Social Enterprises to operate as enablers. While they are change agents themselves, they have a profit-making potential that enables the key objectives of Joii to be fulfilled.
If we do get a donation, our commitment is to use 100% of it on our charitable objectives, with no Administration or other costs allocated against it.
Rather than give a tax deductable donation, we would prefer that you consider using one of our Social Enterprises for your personal or business needs. You will receive a high quality and competitively priced offering that also supports sustainable change.
Funding Methodology
Unlike many charities that receive grants or donations to achieve their objectives, Joii operates multiple social enterprises all with normal business input costs such as staff and materials. This means that Joii has an unusually high proportion of expenses (for a NFP) as only the margin, once all expenses have been paid, can be transferred to our social impact programs.
Now that Joii is transitioning out from the impact of Covid-19 and getting on top of some of the initial one-off setup costs, Joii is seeing the Social Enterprises move into a stage where each year there is a higher portion of the funds available for our social impact programs. The aim for 2023-24 is to produce a new high of $1.5M of funding across the trade, ethical offshoring and immigration services enterprises.
YE2024 financial summary
Total Revenue: $19,284,600
Total Expenses: $20,329,935
Net Income: – $1,045,335
Total Assets: $9,451,106
Total Liabilities: $4,642,366
Net Assets/Liabilities: $4,808,740
ACNC Annual Information Statement 2024
Equity
Equity represents the underlying value if all the assets were liquidated and all the organisation’s debts were paid off. Joii’s Equity at the end 30 June 2024 was $4,808,740 compared to $5,854,075 in the 2023 period.
Debt Equity Ratio: Target < 1.0
The debt-to-equity (D/E) ratio is calculated by dividing total liabilities by the total equity. These numbers are available on the balance sheet of an organisation’s financial statements. It is a measure of the degree to which an organisation is financing its operations through debt versus wholly owned funds.
Joii’s target is to have a ratio lower than 1.0
This graph illustrates that since its establishment, Joii has been highly geared for every dollar of equity, but the trend is positive. This target may seem higher than average when compared with a charity that relies on donations or grants.
Quick Asset Ratio: Target > 1.0
The quick ratio or acid test ratio is a liquidity ratio that measures the ability of an organisation to pay its current liabilities when they come due with only quick assets.
Joii’s target is to have a ratio higher than 1.0
Quick assets are current assets that can be converted to cash within 90 days or in the short-term. Joii has significantly increased this ratio from 1.69 at June 2023 to 1.73 at the close of June 2024.
This demonstrates that Joii is able to pay its short-term debts within 90 days if required.
