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YMCA in Newark launches charity investment initiative for community

A charity investment initiative has been launched to support the YMCA Community and Activity Village project in Newark.

Working with Triodos Bank UK, the YMCA has established a crowdfunding charity bond scheme.

YMCA MUGAs (42874556)
YMCA MUGAs (42874556)

Alongside a broader funding package, it will go towards supporting the next steps of the village construction.

Todd Cauthorn, executive director at YMCA in Newark and Sherwood, said: “The village project has been shaped with local people over several years, to support local aspirations and local challenges.

“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.”

Todd Cauthorn (42874554)
Todd Cauthorn (42874554)

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 community and activity village, off Bowbridge Road, is the YMCA’s flagship project locally.

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.

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.

Football at the YMCA (42874560)
Football at the YMCA (42874560)

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.”

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