Annual Report 2018 - 2019
| annual_report_2018_-_2019.pdf |
Chairman’s Report
The past twelve months have seen Exchange Inishowen CLG continue to go from strength to strength in its mission to promote social enterprise and community cohesion in Buncrana and its hinterland. Our initial five-year plan to bring the company to a point where it could sustain itself from business activity alone was achieved by year three. This decreased the fundraising burden placed on Exchange volunteers and allowed the management committee the space to begin thinking about new ideas and to engage with more people and groups to expand the range of services we provide.
More recently, The Exchange has become a centre of welcome for the Syrian refugee community in Inishowen. The support worker for Inishowen’s Syrian refugees has a desk space in our shared office and a number of cultural and social events have been held to promote interaction between locals and the newly arrived refugees. These have been enthusiastically attended. Other community organisations have also taken up office space, promoting The Exchange as a hive of ideas and activity.
Our central aims for the coming years will be to ensure the long-term sustainability of Exchange Inishowen. This will be achieved by exploring alternative funding options, such as core funding. We will also investigate capital funding projects and the potential of employing staff through core funding schemes. Our Tús and Community Employment Scheme workers are an essential cog in the organisation’s machinery, and we are very aware of the contribution they make. To employ a full-time, paid staff would be of immense benefit Exchange Inishowen and this aim is high on our list of priorities.
Adrian Grant
Chairperson*
(*After serving for 8 years as Chairperson of The Exchange, Adrian retired as chair in January 2020. The entire Board of Management owes a huge debt of gratitude to Adrian for his leadership and he continues to support the work and ethos of The Exchange).
Highlights from 2018-2019
Mental Health Workshops - Exchange member group Insight Inishowen delivered a range of high quality workshops including Self Harm Awareness, the ASIST course and safeTALK at The Exchange.
Feel Good Fortnight 2018 - the inspiring Feel Good Fortnight festival (also organised by Insight Inishowen) has its home in The Exchange and a wide range of workshops and events took place throughout the two weeks.
Community Christmas Meal - this heart-warming initiative provides a Christmas Day meal for people who, for whatever reason, would prefer the company and friendly environment of a community meal on December 25. Around 40 people gathered in The Exchange while another eight people received their Christmas Dinner delivered to their home in 2018. We are grateful for the support of Saint Vincent de Paul and a number of local businesses and generous individual donors covering the cost of the meal and for the tremendous team of volunteers who make it happen!
With generous support from local businesses, we were also able to purchase a new cooker, which is a tremendous addition to the resources available at The Exchange.
Educational Music Video
Exchange Member Group, The Music Box, was involved in an innovative project to record and produce an educational music video with local children.
Financial Summary
The Exchange continues to operate without core funding although this is an important aspiration for the future. It has been encouraging to see increased support from our wider community. While the Exchange management team works hard to ensure this voluntary charity remains sustainable, this only happens because of careful financial management. Rising costs did result in a loss during 2018-2019 and it will be hard to develop further without significant investment and support moving forward.
Income
Rental Income €2,075
Fundraising €1,887
Room hire €9,384
Donations €3,230
Photocopying €412
Amortisation of govt. grants €4,584
Government grants received €1,115
Total Income: €22,687
Expenditure
Lease rentals - land and buildings €7,800
Insurance €2,144
Health & Safety €501
Light and heat €4,314
Cleaning €185
Printing, postage and stationery €444
Telephone €756
Computer costs €33
Fundraising costs €436
Educational Music Video €600
Accountancy & professional €930
Bank charges €70
General expenses €93
Depreciation €6,646
Total Expense: €24,952
Operating Highlights
It has been such an encouragement to see increasing use of the premises by a wide range of community groups, statutory services, social enterprises and small businesses. During 2018, we were able to renegotiate our lease with our landlords for the next five years at the same monthly rate of rent, which was an important step to remain sustainable in the face of other cost rises (e.g. insurance and utilities).
The past twelve months have seen Exchange Inishowen CLG continue to go from strength to strength in its mission to promote social enterprise and community cohesion in Buncrana and its hinterland. Our initial five-year plan to bring the company to a point where it could sustain itself from business activity alone was achieved by year three. This decreased the fundraising burden placed on Exchange volunteers and allowed the management committee the space to begin thinking about new ideas and to engage with more people and groups to expand the range of services we provide.
More recently, The Exchange has become a centre of welcome for the Syrian refugee community in Inishowen. The support worker for Inishowen’s Syrian refugees has a desk space in our shared office and a number of cultural and social events have been held to promote interaction between locals and the newly arrived refugees. These have been enthusiastically attended. Other community organisations have also taken up office space, promoting The Exchange as a hive of ideas and activity.
Our central aims for the coming years will be to ensure the long-term sustainability of Exchange Inishowen. This will be achieved by exploring alternative funding options, such as core funding. We will also investigate capital funding projects and the potential of employing staff through core funding schemes. Our Tús and Community Employment Scheme workers are an essential cog in the organisation’s machinery, and we are very aware of the contribution they make. To employ a full-time, paid staff would be of immense benefit Exchange Inishowen and this aim is high on our list of priorities.
Adrian Grant
Chairperson*
(*After serving for 8 years as Chairperson of The Exchange, Adrian retired as chair in January 2020. The entire Board of Management owes a huge debt of gratitude to Adrian for his leadership and he continues to support the work and ethos of The Exchange).
Highlights from 2018-2019
Mental Health Workshops - Exchange member group Insight Inishowen delivered a range of high quality workshops including Self Harm Awareness, the ASIST course and safeTALK at The Exchange.
Feel Good Fortnight 2018 - the inspiring Feel Good Fortnight festival (also organised by Insight Inishowen) has its home in The Exchange and a wide range of workshops and events took place throughout the two weeks.
Community Christmas Meal - this heart-warming initiative provides a Christmas Day meal for people who, for whatever reason, would prefer the company and friendly environment of a community meal on December 25. Around 40 people gathered in The Exchange while another eight people received their Christmas Dinner delivered to their home in 2018. We are grateful for the support of Saint Vincent de Paul and a number of local businesses and generous individual donors covering the cost of the meal and for the tremendous team of volunteers who make it happen!
With generous support from local businesses, we were also able to purchase a new cooker, which is a tremendous addition to the resources available at The Exchange.
Educational Music Video
Exchange Member Group, The Music Box, was involved in an innovative project to record and produce an educational music video with local children.
Financial Summary
The Exchange continues to operate without core funding although this is an important aspiration for the future. It has been encouraging to see increased support from our wider community. While the Exchange management team works hard to ensure this voluntary charity remains sustainable, this only happens because of careful financial management. Rising costs did result in a loss during 2018-2019 and it will be hard to develop further without significant investment and support moving forward.
Income
Rental Income €2,075
Fundraising €1,887
Room hire €9,384
Donations €3,230
Photocopying €412
Amortisation of govt. grants €4,584
Government grants received €1,115
Total Income: €22,687
Expenditure
Lease rentals - land and buildings €7,800
Insurance €2,144
Health & Safety €501
Light and heat €4,314
Cleaning €185
Printing, postage and stationery €444
Telephone €756
Computer costs €33
Fundraising costs €436
Educational Music Video €600
Accountancy & professional €930
Bank charges €70
General expenses €93
Depreciation €6,646
Total Expense: €24,952
Operating Highlights
It has been such an encouragement to see increasing use of the premises by a wide range of community groups, statutory services, social enterprises and small businesses. During 2018, we were able to renegotiate our lease with our landlords for the next five years at the same monthly rate of rent, which was an important step to remain sustainable in the face of other cost rises (e.g. insurance and utilities).
| exchange_annual_report_2018.pdf |