Reserves Pledge Fund hits target in less than two weeks!

Excellent news from Bristol-based charity Sixty-One.

Sixty-One is a Bristol based rehabilitative charity. As a small, relatively new charity, we had never been in a position to build our reserves, as all funds were used for running the project.

In response to this, we recently launched a Reserves Pledge Fund that asked our supporters to make a non-legally binding pledge to the charity. This would become payable only if the charity were to enter financial difficulties – which were clearly defined within the Pledge Fund.

Within less than two weeks of launching the fund we surpassed our target of raising six weeks operating costs (£16,000). This simple idea has made us more sustainable and more fundable. It has also strengthened the relationship with our supporters.

Tim Snowdon, Director stated:

We were really delighted by our supporter’s response to the Fund. As open sharing of learning is at the heart of our ethos, we are making the wording for a pledge fund freely available to all charities in the hope it will help them with their sustainability.

Email info@sixty-one.org for a copy of the Reserves Pledge Fund text.