Facilitated by Triodos Bank UK, a charity bond is set to launch on the bank’s crowdfunding platform to support the much-anticipated YMCA Community and Activity Village project in Newark. The transformational concept has been designed in consultation with thousands of people across Newark and Sherwood, and the charity bond offers another way for the community to get involved.
YMCA has been supporting people across all of Nottinghamshire since 1871, and in 2018 launched a subsidiary in Newark and Sherwood in order to better respond and support the area’s unique ambitions and aspirations. The charity works to create opportunities in healthy living, youth development and social responsibility, and the Community and Activity Village is their flagship project locally.
The Village will bring together world-class sporting facilities and life changing family and youth programmes in one purpose-built space. It will house a variety of not-for-profit services, including a nursery, community café, art, music and media spaces, education and apprenticeships, and an indoor sports hall with an Olympic standard climbing centre.
Many local people are already benefiting from the project, with the first phase already complete, incorporating 3G football pitches, athletics track and a multi-use games area. Other existing services include community fitness programmes, childcare and youth programmes, such as a digital music groups and the YMCA Tall Ships Adventure. YMCA are now offering the crowdfunding investment opportunity which, combined with a broader funding package, will go towards supporting the next steps of the Village construction.
“The Village project has been shaped with local people over several years to support local aspirations and local challenges,” said Todd Cauthorn, Executive Director at YMCA Newark and Sherwood.
“We want to bring people of all ages and backgrounds together to improve community cohesion, skill levels, confidence, educational attainment, employment and health. The investment crowdfunding will support the next stages of the project and is a tangible opportunity for local people to invest in community services on their doorstep.”
“We want to bring people of all ages and backgrounds together to improve community cohesion, skill levels, confidence, educational attainment, employment and health.”
Todd Cauthorn, Executive Director at YMCA Newark and Sherwood
The charity bond is a £3-million six-year bond paying 6% interest annually. As with all investments, interest payments and return of capital are not guaranteed. There is a £50 minimum investment, and the bond is eligible to be held in a Triodos Innovative Finance ISA (IFISA) that allows interest to be received tax-free. The IFISA is not the same as a Cash ISA as your capital is at risk and is not protected by the Financial Services Compensation Scheme.
The project has been funded from a blend of sources, including YMCA, charitable donations, a loan facility from Triodos Bank UK and capital grants such as from D2N2, the Football Foundation and FCC Communities Foundation.
The crowdfunding team at Triodos Bank UK are specialists in raising capital for charities and not-for-profit organisations to support their growth or project plans.
Dan Hird, Head of Corporate Finance at Triodos, said: “This is a special initiative carefully designed through intensive collaboration with the community and a number of key partners. We have all had a greater appreciation lately of how important it is to have strong communities, who support and look out for one another.
“The impact of this new facility will be felt across every generation helping to tackle a high level of childhood obesity, lower educational attainment, a lack of social mobility and ill health.
“YMCA is fully committed to building and delivering this project and we are delighted to bring it our platform as it’s the kind of impactful and powerful investment we’re sure our investors would like to support. The organisation closely aligns with our mission to promote quality of life for all.”
This financial promotion has been approved by Triodos Bank UK Limited for the purposes of section 21 of the Financial Services and Markets Act 2000. Triodos Bank UK Ltd. Registered Office: Deanery Road, Bristol, BS1 5AS. Registered in England and Wales with registered number 11379025. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 817008.