Finance

I. Financials (Transparency):

RWOTS is committed to financial transparency and accountability. We believe that open communication about our finances is essential for building trust with our members, supporters, investors, and the wider community.

Funding Model:

RWOTS is funded through a diverse and sustainable funding model that combines:

  1. Ethical Loans: We have secured an ethical loan of £250,000 from a reputable lender specializing in supporting community and environmentally focused projects. This loan will primarily finance the purchase of the land, with any remainder being put towards initial development. Repayments will be made from the project’s operational revenue.
  2. Community Shares: As a Community Interest Company (CIC), we are exploring the possibility of a community share offer to raise a portion of our capital. This will allow individuals to invest in the project and become co-owners, further solidifying community ownership. The exact amount we raise through this method will depend on feasibility studies, legal requirements and community response.
  3. Grants: We are actively pursuing grant opportunities from organizations that align with our mission, including those focused on sustainable development, community-led initiatives, the arts, and rural regeneration. We have a dedicated fundraising team researching and applying for suitable grants.
  4. Donations: We gratefully accept donations of all sizes. Donations are a vital source of unrestricted funding, providing flexibility to respond to emerging needs and opportunities. Donations can be made securely online through our website.
  5. Fundraising Events: We will host a variety of fundraising events throughout the year, including benefit gigs, festivals, workshops, and community gatherings.
  6. “Quick Win” Initiatives: We have implemented several rapid fundraising initiatives, including a “Founders’ Club” with exclusive benefits for early supporters, an “Adopt an Acre” program, a “Skillshare Auction,” and curated “Mystery Box” sales.
  7. Revenue-Generating Activities: Once operational, RWOTS will generate revenue through various activities, including:
    • Venue hire
    • Free parties and festivals
    • Workshops and courses
    • Retreats
    • Glamping and camping
    • Memberships
    • Food and drink sales
    • Produce sales
    • Art and craft sales

Allocation of Funds:

All funds raised will be used to support the development and operation of the RWOTS project, with a primary focus on:

  • Land Acquisition: Securing a permanent site for the RWOTS community (estimated at £150,000 – £300,000, depending on the specific location and size).
  • Infrastructure Development: Building essential infrastructure, including the 1000-capacity music and arts venue, sustainable housing, renewable energy systems, water management systems, and communal facilities.
  • Start-Up Costs: Covering legal and professional fees, initial marketing and outreach expenses, equipment and supplies, and a contingency fund.
  • Operating Costs: Funding ongoing operational expenses, including salaries, utilities, maintenance, insurance, and event production costs.

Financial Reports:

RWOTS is committed to providing regular and transparent financial reports to our members, supporters, and the wider public. We will:

  • Publish an annual financial report on our website, detailing our income, expenses, and overall financial position. This report will be independently audited once we reach the required income threshold.
  • Provide regular updates to our members and supporters on our financial performance through our newsletter and online forums.
  • Make our financial records available for inspection by members upon request (subject to reasonable notice and confidentiality considerations).

Fundraising Progress:

We will maintain a dedicated section on our website that clearly displays:

  • Our overall fundraising target: (£450,000 for initial phase)
  • Progress towards the target: A visually engaging progress bar that is regularly updated.
  • Breakdown of funding sources: Showing how much has been raised from each source (grants, donations, community shares, etc.).
  • Current fundraising campaigns: Highlighting any specific fundraising initiatives that are currently underway.

Transparency and Accountability:

We believe that transparency and accountability are essential for building trust and ensuring the long-term success of RWOTS. We are committed to:

  • Openly communicating about our financial goals, challenges, and progress.
  • Using funds responsibly and ethically, in accordance with our mission and values.
  • Being accountable to our members, supporters, and the wider community.
  • Adhering to all relevant legal and regulatory requirements for Community Interest Companies (CICs) and fundraising activities.

By maintaining a transparent and accountable approach to our finances, we aim to build a strong and sustainable foundation for the RWOTS community, ensuring that it can thrive for generations to come. We invite you to join us on this journey and contribute to a project that is truly built by and for the people.