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These case studies from UCIT will give you a good idea
As it's Social Enterprise Week, you might be were wondering what's involved in being a social economy organisation. These case studies from UCIT give a flavour of what's involved and the diversity of organisations.
Newhill Firststeps Childcare Centre
Newhill Youth and Community Centre Association was established in 1974, taking its name from the two main areas in West Belfast to which it provides its services, Dermot Hill and New Barnsley.
The Association launched Newhill Childcare in 1990 which operated out of two portacabins. In 2005 the Association was successful in accessing funds from the Big Lottery and Belfast Local Strategy Partnership to construct a new, purpose built childcare facility. When the group encountered a shortfall in funding for the building project it approached UCIT for a loan.
Centre manager Christine Gormley said:
"If it was not for UCIT our project could have had a major setback - UCIT was able to provide the shortfall and direction which allowed the project to proceed. The staff were also able to approach the situation from a community angle and made the whole loan process very understandable."
Kircubbin Regeneration Programme
UCIT provided a loan to make up the shortfall in the financing package required for the restoration of Maxwell's Courtyard in the centre of Kircubbin.
The restoration has been a major milestone for Kircubbin Regeneration Programme.
Within the new property are prime commercial units and offices, a gallery and craft shop, designer craftspeople at work, a podiatrist and community function rooms for hire.
Age Concern Cookstown
UCIT provided a loan to the group towards the purchase of a new minibus, which will provide a daily transport service for all those wishing to make use of the organisation's social and recreational activities.
A £5,000 deposit for the bus was raised through the proceeds of a gala ball with the remainder of the cost made up from a contribution from VIVA Bingo and a loan from UCIT.
Elaine McDowell, manager, said:
"We really appreciate the loan and support from UCIT. The loan has been essential in funding a bus so that we can provide transport to older people who would otherwise be isolated."
Find out more about UCIT's finance and support at:
Ulster Community Investment Trust (UCIT)
13-19 Linenhall Street
Belfast
BT 28AA
028 9031 5003
www.ucitltd.com
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Northern Ireland Council for Voluntary Action is registered as a company limited by guarantee in Northern Ireland (No 1792) and is registered as a charity for tax purposes with the Inland Revenue