Eating Disorders Victoria (EDV) provides support group services, helpline support, one on one psychological counselling, information, education and advocacy for people with eating disorders (Anorexia Nervosa, Bulimia Nervosa, binge eating disorder and others) and their families in Victoria. EDV delivers its support services by working with qualified professionals, and volunteers who have a lived experiences of an eating disorder. EDV accessed finance through Foresters to set up EDV Psychology as a ‘fee for service’ social enterprise. EDV Psychology was established to further the support provided by EDV and offers private psychology sessions for people experiencing eating disorders and related issues, as well as for family and friends who are supporting a loved one.
Eating Disorders Victoria
The Initiative
To grow EDV services through a new program – EDV Psychology
Healthcare
Abbottsford, Victoria, Australia
With the help of community finance, EDV Psychology can provide over 840 counselling sessions of early intervention and ongoing support for people with eating disorders in Victoria each year. The service also affords vital support to families, carers and friends.
In 2012, EDV had a vision to grow their services through a new program called EDV Psychology. They approached Foresters for a community finance loan. Foresters made a loan to EDV that settled in December 2012.
The Investment
Foresters Community Finance (through their Social Enterprise Finance Fund).
Eating Disorders Victoria.
Impact fund Investment
– Debt (SEFF, administered through Foresters, $75,000 over five years at 10% interest per annum)
Foresters Community Finance.
N/A.
The Impact
EDV Psychology projected 840 counselling sessions per year. In the three years since establishment, EDV Psychology has provided 1876 psychology sessions for an average of 8 sessions per person. 67% of clients have met their goals through attending EDV Psychology.
Some ‘success stories’ include:
- Two cases of young people aged 14 and 18 who were presented to EDV with their parents within 6 months of eating disorder symptoms emerging. They were supported to put on weight and strengthen communication within family. They finished up at EDV with a discharge plan in place so young person and family knew when and how to refer again if needed.
- An older woman seeking help for the first time used the psychology service to understand that her problematic attitude towards food/eating stemmed from her difficulties with social relationships and has allowed her to embrace her own eccentricities.
Financial Return
12 month return (August 2014 to July 2015) was 4.81%; Management fee of 1.4% p.a. of the gross asset value of the SEFF’s assets.
Other
The program will be reviewed after 3 years, with further investment opportunities decided after the review.
