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
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.
Regrettably I actually got this calculation wrong last night. The new
budget is actually £4,962, which gives us a shortfall of £200/month.
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.
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