October 20, 2012

How we spend

Our finances are no secret

The following is a report on our finances until October 2012 and our projected finances of 2013.

Want extensive detailed information? take a look at us on the Charity Commission website.

Put simply:

  • In 2007 we secured funding for project workers, renovations and all of our work in the community.
  • Our funding was cut in October 2012.
  • We currently generate income from giving, fundraising and letting rooms to other organisations.
  • Despite the decrease in funding, our people remain at the core of what we do. We continue to concentrate and increase focus on our services, providing targeted support and coaching to those in need

Sources of Funding by Type 2006-2012

The project was the vision of the church community in Brierley Hill and Amblecote, who have provided financial support throughout its lifetime. When the project was first set up the trustees successfully secured funding from eight main grantors which was used to refurbish the building on South Street. £40,000 was granted from the Cloth Workers Foundation, £27,975 from Biffa, £20,000k from Wren, £50,000 from the National Lottery Community Fund. being just some of our funders. The trustees also secured £150,000 from the National Lottery Community Fund to run the project for the first five years, taking us up to October 2012.

The building renovation cost a total of £189,059 over the first two years. Staffing is the largest cost for the project. Initially the National Lottery funded the employment of a Project Manager and a Project Worker, however over the years this funding was reduced and the staffing structure was changed. In 2011 two project workers were employed and further funding was secured from Lloyds TSB. Since October 2012 the project has employed one project worker and continues to be managed by the Operations Manager and Trustees Management Team. Our Operations Manager is financed and employed by the Amblecote Christian Centre. It is our committed volunteers who enable the project to operate successfully.

60% of funding over the first 5 years came from Grantors including the National Lottery. £367047 funding was secured to refurbish the building and run the project. The project is also very fortunate to have a committed number of regular givers, their support along with other gifts and donations over the first 5 years amounted to £194002 (31%)

The building renovation costs of £189059 amounted to 34% of the total expenditure over the first 5 years. The staffing costs were £226313 (41%). Other large areas of expenditure include building related costs like insurance and utilities at a total of £39885 (7%).

The project has committed regular givers who continue to support the project. In 2013 this is forecast at £21840 including gift aid. The trustees have reserves to fund the project until January 2014, however, they intend to run a balanced budget for 2013. The other sources of income have been specified as ‘Events and Fundraising’, however, there are some exciting developments at the project which will result in additional income. These include the occupation of Top Church Training, a charity that works with 16-25 year olds and a Playgroup provision.

In 2013 the project will continue with one project worker to provide Target Life Support and Coaching. The Project Worker will continue to receive support from our committed team of volunteers. The trustees have planned £2256 investment in the training and developing of staff and volunteers in 2013. Although building costs continue to be a large area of expenditure, the trustees are committed to reducing costs wherever possible including regular review of utility and service contracts.

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