Beverley Cherry Tree Community Centre is a charity based in East Yorkshire. Located on the Cherry Tree Estate, it works with those in the community struggling with varying degrees of poverty.
Problem
The Cherry Tree Estate in East Yorkshire is home to the Beverley Tree Community Centre.
In early 2016 the Centre faced a serious cash-flow problem that threatened it with closure after mismanagement of attendee figures at the pre-school, which impacted on the council’s voucher payments.
Solution
Social investor, the Key Fund, invested in this long-standing and sustainable charity with a loan of £10k and Power to Change contributed a grant of £10k. Both came at a critical time when the centre faced potential closure.
Revenue model
The loan is being repaid through income generated from the local authority for the nursery and community room hire.
Impact
Social investment helped maintain cash flow and address the shortfall, ensuring the centre’s future and bringing its financial outlook back on track. The social investors support ensured 24 part-time staff kept their jobs, as well as 9 volunteers.
The Beverley Tree Community Centre hosts an advice service to provide help, support and guidance on a broad range of personal, social and community issues. Other activities include a women's group, a stroke club, a credit union savings club, residents' activities and room hire.
The centre includes Gruffalos, an OFSTED inspected pre-school. It delivers an affordable out of school and holiday club out of term times, to allow parents to go out to work.
Investor
Key Fund’s mission is to provide the right kind of money at the right time, supporting the development and growth of a sustainable and impactful community and social enterprises that are unable to secure support from elsewhere.