Monday 9 September 2013

FAQ about VRI Hall Crowdfunding

Why is the Neighbourhood House fixing the roof? Shouldn't the VRI fix it?
The VRI is a not for profit social club. They have not been able to raise the funding to have the roof repaired. The hall is a great space, but the leakages from the roof are causing damage to the building. It's a major investment.

If the Neighbourhood House repairs the roof, our rent of the venue will be reduced on a sliding scale. If we remain tenants for 10 years, we will fully recover the expense of the roof repairs. The hall is a great venue and repairing it will make it available to be used for many great community purposes, including our own.

What if you don't get the $35,000?
Those who have made a pledge will keep their money. Money doesn't come out of anyone's account unless the target is met.

We will seek sponsorship from businesses and government and philanthropic grants. These things usually have strings attached. It would be great to have the community support the project.

We believe the crowd funding will raise awareness of what we are aiming for as well as funds.

Doesn't the Government already pay for things like this?
We receive recurrent funding from Department of Human Services(NHCP) and from ACFE (Adult, Community and Further Education) to subsidise a portion of our pre-accredited classes. Latrobe City provides a small amount for maintenance. We apply for and receive grants for special purposes, yet grant submissions are time consuming and not always successful. Government funding is only 49% of our income. The remainder of our income comes from class fees, interest, fundraising, room hire and donations.

For every dollar invested through the NHCP, NHs raise $5.29 (ANHLC data survey 2012). A good return for investment by anyone's standards.

Our Profit and Loss Statement is on the record in our Annual Report available at the Neighbourhood House.  I would encourage you to look at it if you have an interest.

Please keep asking questions. We are happy to answer them.

 

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