INNOVATIVE FINANCING TO SUPPORT DISADVANTAGED CHILDREN IN SOUTH DEVON

16 November 2015

YMCA South Devon was set up in a deprived area of South Devon to provide educational and recreational programmes for children and young people who experience social and economic disadvantages. It is part of the YMCA group but is an independent charity. The charity currently provides after-school care for 120 children aged 5 to 11, and supports 80 teenagers who are struggling at school through group sessions and 1-to-1 work. This summer 2015, CAF Venturesome supported YMCA SD with a £25,000 unsecured loan to enable them to open a nursery offering 44 affordable childcare places, meeting a local need.

YMCA South Devon has been at its current location for almost 50 years. During this time it has built up a strong reputation in the local area for its work with disadvantaged young people, such as their after-school programmes and holiday clubs for primary aged children.

There is a worrying shortage of nursery places in the area, which YMCA SD is looking to address. This demand is expected to increase with a growing population and the Government’s plans to bring free childcare for 3 to 4 year olds up to 30 hours per week. Recognising this shortage, and with strong support from local parents, Torbay Council have offered a £20k grant to YMCA SD to refurbish part of the building as a nursery. This, however, was conditional on the remaining finance being raised this summer – which is where CAF Venturesome stepped in. Our support has enabled this £20k of grant funding to be unlocked, giving the charity an opportunity to become a more resilient orgnisation with greater social impact.

CAF Venturesome first made a social investment in YMCA SD chose to back YMCA SD in 2012, at a time of great transition for the small charity. We have chosen to back YMCA SD again because we are confident that it will be able to deliver a much needed nursery in the Torbay area. The income generated by the nursery will support the charity to remain financially sustainable.

CAF Venturesome has a key role to play in supporting social organisations working with children and young people – our hope is that YMCA SD can build a strong track record which will allow it to strengthen the charity and grow to provide other much needed services.

Want to know more? Talk to our team on 03000 123 300 or email us at venturesome@cafonline.org and we’ll be happy to help.

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