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.

At the end of the year the Trust continues to hold a 4% interest loan of $200,000 (with no invoices overdue at year end).

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

The Trust can sustain the 4% interest impost within its operating budget that relates to the Anglican Dunedin Diocese loan of $200,000.

After 14 months of operation, the Trust is operating in a cash positive manner, even taking account the Covid-19 disruption at the beginning of 2020.

Tenancy Agreements for 100% of office spaces have been signed (2019:80%).

The Trust has a part-time manager and employs two part-time receptionist 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 year of operation. Highlights for the year include:

  • The signing of contracts for 35 tenant organisations who now use the building regularly
  • 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 included a midwinter free dinner for those in difficultly during Covid, Santa's grotto for all Wanaka children, and our 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 75% 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.