Financials

OVERVIEW

The build cost, including all on-costs, for the Community Hub was nearly $4,445,000. We have already raised nearly $3,745,500 through local fundraising, private donations, pro bono work ($130,000) and grants - from Central Lakes Trust ($1.45 million), Otago Community Trust ($700,000), NZ Lotteries Commission ($698,000), Sargood Bequest ($175,000), Alexander MacMillan Trust ($50,000), and others.

As of September 2022, the Trust continues to hold a 5.75% interest loan of $75,000 (with no invoices overdue at year end).

Queenstown Lakes District Council advanced the Trust $500,000 which was converted to a grant after the Trust satisfied a due diligence review of the Trust's long term future.

The Trust can sustain the 5.75% interest impost within its operating budget that relates to the Anglican Dunedin Diocese loan of $75,000.

After almost 3 years of operation, the Trust is operating in a cash positive manner, even taking account the Covid-19 disruption since 2020.

Tenancy Agreements for 100% of office spaces have been signed.

The Trust has a part-time manager and employs two part-time Hub Coordinators so that we cover our obligations with regards to Health and Safety for the tenants and other local groups and organisations. They are marketing, managing and coordinating the use of the Hub so as to maximise the potential of our assets.

The Wanaka Community Hub has been open for our first 3 years of operation. Highlights include:

  • The signing of contracts for 35 tenant organisations who now use the building regularly
  • Our recorded debt as at 31/12/2019 was $1,126,583 and as at 31/8/2022 it was $116,922 which was again reduced by a loan repayment of $20,000 this month. The main contributor to this reduction was QLDC's $500k
  • Considerable fundraising efforts to reduce the building's debt - this includes the Wanaka House and Garden Tour, Stonewood Homes house sale - local fundraising achievement for the year amounted to $303,197 (net).
  • Three Hub roles created - new employees contracted and trained
  • The planning and management of a number of community events to encourage all residents to visit and use the building. These include an annual Children's Easter Egg Hunt, Santa's grotto for all Wanaka children, and our local children's art exhibition over the July school holidays.
  • Ongoing revolving local art exhibition throughout the Hub
  • All Hub processes and procedures developed
  • Building WOF plans and management
  • Code of Compliance granted
  • Over 2400 volunteer hours were expended to get these results.
  • Increasing bookings across the Hub throughout the year - office bookings are now at 95% of capacity and meeting room spaces close to 50%.

Can you help in any way?

We have many projects underway to raise more funds but we are looking for sponsorship, naming rights, donations and other forms of support. We are a registered charity which means that all donations are tax deductible. For further details, pleas visit our Donation page.