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Heart of Glass / A Modest Proposal


FUNDRAISING & DEVELOPMENT


This new model of governance and delivery supports a more agile approach to fundraising and development. In addition to our core CPP funding, we have secured project specific support from partners including the local authority, joint commissioning partners, trusts and foundations, the private sector, ticketed income and European funding.


A robust Development Plan is underway to be completed in October 2016 that sets out Heart of Glass’ growth and income generation strategies to 2020. Our starting points address how Heart of Glass can further increase the impact of Creative People and Places through bringing additional resource to the programme, while also addressing the needs of the organisational structure and its ambitions beyond Creative People and Places into the long-term future. It is essential we resource this area of the organisation and build on this approach to broaden and diversify our income streams to create a sustainable organisation that has robust reserves and strong financial stability.


FUNDRAISING AND DEVELOPMENT AIMS


Grow Partnerships. We recognise the challenging financial times in which the arts are currently operating and the high level of competition for funds while still being a new organisation. We aim to approach this challenge by developing a diverse funding plan that uses the organisational reputation and track record to grow and attract partnerships from across the arts, public and private sectors. We have to date been very successful in attracting high quality partnerships around joint fundraising initiatives and will continue to broker these relationships into the future, particularly around touring and co-commissioning.


Reserves. One of our key challenges in the period 2016 – 2020 is to build our financial reserves through unrestricted income from £9,000 to a level of three-month operational reserves of £45,000. We are operating our income generation under a full cost recovery model, enabling us to build these reserves and reinvest back into our operational overheads.


Continued ACE investment. Our aim is to become an Arts Council NPO funded organisation by 2020, which would enable us to underpin the core function and key programmes, while we grow our ambition and scale with the support of a wider portfolio of funders and income streams.


Trusts and Foundations. We will build relationships with a broad range of trusts and foundations to support project specific activity.


Other funders. We will utilise our reach and impact within community settings to meet the objectives of other funders working in the community.


Ensure capacity. We have addressed our internal capacity to enable us to grow a fundraising capacity within the organisation, building more resource in the delivery of the programme to enable the Director and Lead Producer to take forward a new plan and targets, working with consultants and specialist fundraisers when required.


Private Sector. We aim to find new models of working with the private sector to provide cash income or other resources, through consultancy, commissioning, partnership and sponsorship.


Ticket Revenue. It is our aim to continue the work undertaken through CPP to align programmes with ticket revenue generation, working with partners across St Helens and nationally, through touring models.


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