Money Matters

Ok, so let's talk about funding.

The total building project for Aquativity is expected to cost in the region of £250,000, based on current design and costings.  This is split into two phases:

• Phase 1 is to build the shell of the building, connect to utilities, and kit out the ground floor to the point where we can start using it for boating - a boat store with changing, toilets and showers.  Phase 1 will cost approx. £150,000
• Phase 2 kits out the rest of the building so we can also use both floors for Scouting - large meeting hall, side rooms, kitchen facilities, storage.  Phase 2 will cost a further approx. £100,000

We have been busy raising money for many years and now have, in the bank, £80,000 (to a fair approximation).  This has come from a combination of sources, but primarily lots of hard work on the part of many people.

• An annual Donkey Derby run on Eling Recreation Ground - lots of fun for the local community as well as raising several thousand pounds each summer
• Bag packing by the Beavers, Cubs, Sea Scouts, Explorers and their parents and leaders, at local supermarkets, particularly in the run-up to Christmas, in return for public donations
• Litter picking at local events such as the annual Netley Marsh Steam Fair
• Auctions, fayres and Group family events
• Donations and/or match funding pledges from local businesses
• 2 significant donations from the charitable trust arm of a major local landowning estate

In addition, in September 2010, we met another charitable trust who are keen to help projects such as Aquativity.  They had a good look at everything we do today, and everything we plan to do under the Aquativity project, and have pledged a fantastic £50,000 to add to the current total for use in building Phase 1.

The thermometer to the right shows this overall funding position.

This same trust have also set us a wonderful challenge.  For every pound we raise ourselves in the year September 2010 - September 2011, they will match it, up to a maximum of £20,000.  This match funding applies to everything we raise for this project other than donations specifically for equipment purchase.  So we are busy raising money.  The chart below shows how we are getting on, and how much more we need to do.  The next big event for us is Bag Packing at a local supermarket on 4 December.  We'd love to reach a total of £5,000 by the end of the year - with a good day on 4 December, we have every chance of meeting that target.  I'll post an update after the event with the results.

If we can achieve this £20,000 target, our overall funding will go up to £170,000.  Phase 1 is then sorted from a financial perspective!  We're looking now at grants and donations for Phase 2 - ideas and contacts (and donations) very welcome.

As the money builds, I'll keep charts like these updated - I'll probably move them out of individual posts and out onto the blog homepage so they are always visible, reminding you we need money!

Of course, getting the building up is only one part of the funding challenge.  We need to raise ongoing income to pay for maintenance and services - I'll post more about that another day.  And we need equipment - dinghies, kayaks, canoes etc.  We've been doing plenty on that front too.  The Sea Scouts had a sponsored boating day at the end of the summer and raised approximately enough to buy 2 kayaks.  A local charitable organisation visited us at the lakes in the summer and were impressed enough to buy us another 2 kayaks - the details of that purchase are going through right now.  And we are applying for other grants and working with other organisations to buy and maintain sufficient equipment to run a full boating programme starting in 2011.