Share Scheme
What is the Share Scheme?
It was set up in 1997 to enable local people to ‘share’ in the development work of Exeter Community Initiatives (the former Palace Gate Project). Each share usually costs £50 per year and is ideally donated for a minimum of five years. Like all share schemes, this provides us with capital for our work, some longer-term security, and a dividend.
However, there is no cash return and the dividend is for those whom our work seeks to help, not for those who support our work. Since 1997, our development work has been funded largely through the Share Scheme and the generosity of local people. This Scheme has enabled over 600 individuals, 50 churches and 20 other local organisations to support our work on a regular basis, with most people rejoining the scheme for a second time in 2001.
In response to the feedback received, we are now introducing a second scheme (Scheme B), whereby you can choose the regular annual amount to be contributed.
What has the Share Scheme made possible?
- To carry out 'at risk' development work on new projects that other funders won't pay for
- To bring in £20 million for work with disadvantaged groups in Exeter over the past 10 years
- To provide a financial return of £850 raised for projects for every £50 share promised
- To enable us to plan ahead for a 5 year period with confidence which encourages longer-term solutions rather than short-term fixes
- To mobilise the practical support of over 250 volunteers
- To provide a social return by providing support to over 2000 people per year
- To make our achievements over recent years possible
'I give to the Share Scheme because ECI does things I can't do myself to reduce social problems. This benefits everyone living in Exeter.'
'ECI tackles local needs and issues in an effective way which gets people involved' (Existing shareholders)
How do we spend the money you give?
The development and support work of the charity costs in the region of £100,000 per year to run. These costs enable us to employ a Project Development Manager and Project Development Worker, who are responsible for developing new initiatives and identifying unmet needs, and a Director for managing these initiatives once they are established, thereby enabling the Project Development Team to spend more time on new initiatives. These posts are supported by part-time administrative staff. Also central to our work are over 80 volunteers supporting different projects and committees throughout the organisation.
Where does our income come from?
We currently receive up to £30,000 per year from the Share Scheme, £10,000 from local donations, and £45,000 from charitable trusts and the contribution to our costs from the projects we manage. This leaves a further £15,000 per year to raise towards the development and management costs we need to sustain our work.
How can you help?
By becoming part of the Share Scheme and donating one or more Shares at £50 per year (or a different amount of your choice), each ideally for five years. If you are able to donate a Share(s) to our work please complete the Share Scheme Application Form - 23 kb, that can be downloaded, and return to the address shown, or telephone Louise Porter our Administrator on 01392 205800 for more information.
