Funding sources

The partners involved in developing The Third Place have identified three major sources of funding:

Stream 1 - Internal

• A capital campaign to raise income from Zion Christian Centre members over a 2 year period, over and above the current level of giving, which at the close of 2009 was around £900,000.
• The initial campaign ran over a 6 month period, from July-December 2009 including:
  • Vision casting
  • Teaching
  • Home group visits
  • Tools and guidance such as:
    • Information on one off giving
    • Guidance on regular giving
    • Fundraising advice via a planned interactive section on this website
    • The use of social media to draw in wider support
• Additional small group gatherings are being held in 2011 for newcomers
• In October 2011 members were encouraged to sign up to continue their support for a further 2 years
• Members have also engaged in fundraising with such things as eBay sales and sponsored events.

Stream 2 – External

• Corporate funding
• Statutory funding
• Charitable funding

An application for funding from the My Place project (Department for Children, Schools and Families (DCSF)), was made in June 2009. From 150 entries, The Third Place was one of only 40 to succeed in reaching the next stage, although we narrowly missed out on a funding award in December 2009.

A number of other potential funding sources have been identified by contractor, Wootton George Consulting Ltd, with a specialist team of Zion members with fundraising experience developed to identify additional sources and apply for funds.

There will be opportunity for local organisations to invest in specific sections of the development e.g. Youth, Community, Special Needs facilities

Stream 3 – Borrowing

To be serviced by income generated from the project:

• Tenant income – longer term leases
• Room hire income – both conference facilities and the wide range of multi use spaces the project will deliver
• Growth in the church membership generating more income

Sale of the main current building will also help fund the project, which we are currently investigating.