This means we have >£1500 to pay immediately (which we might have to
satisfy by taking out a short-term loan) and it will cost us around
£400 extra each month, on top of our existing budget. The new budget
is £4762/month.
Our current subscription revenue is £4,788/month, so we are still
pretty tight, but I think it's doable.
This decision means that it is a lot more advantageous to us to try
and get charitable status, and I think we're going to look into doing
that very soon.
--
Russ Garrett
ru...@garrett.co.uk
Regrettably I actually got this calculation wrong last night. The new
budget is actually £4,962, which gives us a shortfall of £200/month.
--
Russ Garrett
ru...@garrett.co.uk
Nigle
Nigle
Yep, known, and it's likely we could treat the majority of
subscription income as gift aid too (anticipated to be ~£45k this
year, so an extra £10k or so). Combined with the ~£5000 we would save
on business rates, it's not an insignificant amount.
The main problem was that we were previously unsure if we had a public
benefit case, but now we're fairly sure we do.
--
Russ Garrett
ru...@garrett.co.uk
This is known as an "Umbrella charity" and works fine if you're
channelling large national donations down to smaller groups. However,
it wouldn't help us, because we still wouldn't be a charity, so we
wouldn't be eligible for the discount.
(Chances are we may make UK Hackerspaces a charity too, but that would
be separate.)
--
Russ Garrett
ru...@garrett.co.uk