howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
3 million quid over 3 years is not a lot, any of our local groups need to get their applications in pretty soon.
http://www.thisiskent.co.uk/pound-3m-fund-profit-organisations/story-14268491-detail/story.htmlGuest 653- Registered: 13 Mar 2008
- Posts: 10,540
Thanks Howard.
Reading that it sounds O.K. apart from they are loans not grants, so any money taken, will have to be paid back.
Roger
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i had to read it through a couple of times roger, the loan bit comes right at the end.
how could a not for profit organisation get into a situation where they could pay back?
the total of a million quid over a county the size of kent suggests that the whole thing is just a propaganda stunt.
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
There'd need to be a profit so they could pay it back, so it's a contradiction - isn't it ?
I'm sure someone will point out what I'm missing.
Roger
Guest 671- Registered: 4 May 2008
- Posts: 2,095
Howard.
I have filled many funding forms in over the last 6 years, many of them get you to sit there for hours untill you get to the nitty-gritty bit where it say you need to have a turnover of £100,000 per year, to get this grant.
Yes "Turnover"
"My New Year's Resolution, is to try and emulate Marek's level of chilled out, thoughtfulness and humour towards other forumites and not lose my decorum"
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Profit and income are not the same thing. Not for profit means that the owners, founders or stakeholders in the organisation will not receive profits from it. All surpluses generated are retained to be used for the charitable objects of the organisation and may not be distributed.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
I agree Peter, but in most instances, income over expenditure is.
Roger
Guest 705- Registered: 23 Sep 2010
- Posts: 661
Well here it is at last-the much fabled Big Society Bank! This is the cash that David Cameron promised has initially been generated by raiding all the unclaimed inheritances that have been sitting around and would normally go to the Exchequer. So Central Government have dumped the distribution on the county authorities. Good idea I suppose.
Or am I jumping to conclusions? Does the money actually come from the County Coffers?
Hopefully there will be no or peppercorn interest involved with fabulous repayment holidays!
Dover Steamship Company will be taking advice on the advantages or otherwise of applying for some of the cash. We certainly could do with it.
Never give up...