Group Financial Assistance
For a Potential New Group
The Committee will consider offering a potential new Group financial help to assist in starting the Group. This may be in the form of a small start up grant or a loan. If a Group hires a venue the committee will pay the charge for the first time it is hired. Whilst a requirement of all groups is that they must be financially self sufficient, a new group may initially be allowed to go into a small deficit for a short period of time.
If, despite all efforts, a new Group fails and it is still in deficit, the Convener will not be financially personally responsible for this deficit since it remains the full responsibility of the U3A committee.
Before going any further you must contact the Treasurer to discuss your request.
For Existing Groups
All Groups must be self financing but the Committee will consider requests for items of capital expenditure, or other expenses, that the Group would not be able to afford on their own but which would enhance the Group’s activities. These requests should:
- Be by e-mail from the Group Convener to the Treasurer so that the request can be distributed to and considered by all Committee Members prior to their next meeting;
- Say why the Group needs the grant or loan and why the Group cannot pay for the item or expense itself from its own funds;
- Include relevant costs or estimates;
- State what the Group’s contribution will be (Grants or Loans are rarely 100% of the cost.);
- Be in line with the aims and principles of Chepstow U3A and any guidelines provided by the Third Age Trust.
Your request will be discussed at the next available Committee Meeting and further information may be requested. There is no guarantee that the request will be approved and it will depend on various factors including previous funding for the group, the availability of funding, the amount requested and the urgency of the funds required.