Crowd Fund announced for Newcastle Culture scene

Newcastle based arts organisations are to benefit to the tune of £50,000 through a new partnership funding scheme.

Crowdfund Newcastle Culture will support arts projects that address health and wellbeing, create good quality jobs, develop people’s skills, tackle inequality and encourage communities to look after each other and the area in which they live.

Projects must register with Crowdfunder UK and once they reach 50% of their target the sum will be matched by the Newcastle Culture Investment Fund at the Community Foundation. Organisations are required to meet specific criteria in order to be eligible for matched funding and will be identified by the Community Foundation.

Ellie Turner, Principal Advisor Culture at Community Foundation;

“Crowdfunding benefits both the giver and the project. Donors and investors do not make an immediate payment but rather pledge to receive a reward. Then, if the project meets their target, payment is taken. To attract givers, organisations offer rewards such as art, events, merchandise or tickets.

“The Community Foundation has committed £50k and is limiting each organisation to a maximum pledge of £5,000 which could make up 50% of your overall target.

“There are three easy steps: establish a financial target of up to £10,000; once you have raised 25% from at least five unique backers you will trigger a 50% pledge against the total target. To be eligible you must then go on to raise the full target to secure the income.”

Jason Nuttall, Funding Manager at Crowdfunder added:

“We’re delighted at the opportunity to Crowdfund Newcastle Culture and make available extra funds for arts projects crowdfunding in the City – who could double their money,”

“Crowdfunder also has over £2million of other funds to distribute to projects to make their ideas happen. We’d encourage anyone thinking of crowdfunding to take a look at Crowdfunder and explore the opportunities.”

The match for Crowdfund Newcastle Culture has been made available through the Newcastle Culture Investment Fund, a grants programme run in partnership by Newcastle City Council and the Community Foundation for Tyne & Wear and Northumberland.

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Posted on 25/05/2017 @ 3:54 pm
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