Posted on 9th Nov
The YMCA has launched a charity investment initiative to support its YMCA Community and Activity Village project in Newark.
The local community will have the opportunity to invest in a new charity bond, launched by the YMCA in partnership with Triodos Bank.
The YMCA has been supporting people across all Nottinghamshire since 1871, and in 2018 launched a subsidiary in Newark and Sherwood “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 its 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 is 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.”
The charity bond is a £3m 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 many sources, including YMCA, charitable donations, a loan facility from Triodos Bank UK and capital grants.
