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Funding and Finance for Community Centres and Hubs

Funding and Finance for Community Centres and Hubs. (from donations, to grants, to contracts and social finance – and planning!). Funding - Individual donors. Raising money/time/support from the public through: Events, raffles, sponsored walks etc Gift aid – made simpler/tax issues

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Funding and Finance for Community Centres and Hubs

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  1. Funding and Finance for Community Centres and Hubs (from donations, to grants, to contracts and social finance – and planning!)

  2. Funding - Individual donors Raising money/time/support from the public through: • Events, raffles, sponsored walks etc • Gift aid – made simpler/tax issues • On-line giving (local giving.com, crowdfunding) • Volunteering – (match funding schemes – raising money/time/resources eg social action fund and community first)

  3. Grants • Government grants eg. local council grants, community chests, district housing, community first grants. • Charitable trusts/foundations & community foundations – Garfield Weston, Sir George Martin Charitable Trust, Henry Smith Charitable Trust, Wade’s, Community Foundations, Coalfield Regeneration Trust

  4. Grants – National Lottery • National lottery – Big Lottery Fund - Reaching communities: £10K plus inc: £50K capital - Buildings strand: £100K plus to improve or replace a building (deprived areas eligible – rural and urban) - Awards for all: £10K. • Sport England, • Arts Council, • Heritage Lottery Fund

  5. Grants • Company giving – energy companies e.g (Northern Gas), Mars in the Community, B&Q, Co-operative community fund • Landfill community funds (funds to provide/improve public amenities e.g community centres) – Biffa, Sita, Veolia, Wren, Green Leeds, Caird Bardon Community Programme, Groundwork Leeds (see www.entrust.org.uk for information on LCF)

  6. Trading – earned income/loans • Increasing expectation that service users will pay towards services (personalisation agenda) • Contracts – to run public services (localism act – right to challenge, right to buy, local planning etc) • Promotion of social enterprise activities (services for sale, café, leisure activities, feed-in tariff and renewable heat systems)

  7. Trading - social investment finance • Social investment finance (combining finance and social objectives, makes investment available to communities unable to access loans from mainstream banks) • loans & support to help groups generate income for social benefits • Often funders give a package of loans and grants

  8. Benefits of loan finance • Provide cash to make things happen now • You decide what you want to spend the money on (will need approval) • Promotes business planning – encourages long term planning • More flexible than high street banks, eg. often no early repayment fee, payment breaks etc • Not competitive (compared to grants)

  9. Benefits of loans • Reduced bureacracy (compared to grants), once approved, payments are regular. • Shariah compatible loans • May be delay in initial repayments to help you build capacity • May be combined with grants & paid up front • Help you develop an asset, kick start a new venture, take an opportunity, bridge a grant etc • Can fund capital and revenue

  10. Loan finance providers • Community development Finance Institutions (CDFI’s), specialist and VCS lenders • Charity Bank, Key Fund (inc: Yorkshire Venture Philanthropy), Big Society Capital, Community Builders Fund, Venturesome (CAF), BIGinvest, Unity Trust Bank • For providers search: CDFA Finance Funder Website (www.cdfa.org.uk)

  11. Investment Ready? • You will need the right legal structure – for liability issues (discuss with lender) • Are the management committee on board • Can you repay? • Is this the best option?

  12. What next? • Be clear about what you want to do and what will meet the needs of your community (feasibility study) • Ensure you have community/local support • Be aware of local strategies/legislation • Check you have the capability, skill, legal status, commitment, professional support, permission • Put together a funding strategy and action plan including comprehensive and realistic costings, plans for sustainability (business plan)

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