Grant #77196 to Plymouth Octopus (POP)
Business Development
Paid
Grant #77196
Submitted by Rob Wick•Approved by Rowan Edwards
May 17, 2022
Request Details
We would like to request a grant of £250 to aid in the development of Borrow Don't Buy. We have been working hard on our social media engagement and have reached the point where being able to schedule posts across multiple channels as well as impromptu engagements has the potential to benefit our business and the general awareness of borrowing instead of buying. However, the tools required to do this have strict usage limits and we would like to see what impact a years worth of use of one of these tools (Later.com) on a paid tier might have on our reach, engagement and how this affects our revenue. This will cost £120 for one year.
In addition we would also like to request some additional funding for training and accounts support in order to bring our accounts fully up to date and make them useful for management decisions in the future. We have dedicated a lot of internal resource to bringing out accounts up to date in order to allow us to ensure legal and regulatory compliance but also in order to allow us to forecast cashflow and budget correctly. Our team are quite new to this level of fiscal responsibility and we want to engage the services of a local accountant (well versed with CIC's) in order to set up grant tracking within Xero to enable us to report more accurately against grant income and to inform our spending decisions. As we now employ staff it is important to us to safeguard both their positions and to help them grow through training like this. This will cost £130*.
*the cost of this training will likely exceed £130 but Borrow Don't Buy will pay the additional.
In addition we would also like to request some additional funding for training and accounts support in order to bring our accounts fully up to date and make them useful for management decisions in the future. We have dedicated a lot of internal resource to bringing out accounts up to date in order to allow us to ensure legal and regulatory compliance but also in order to allow us to forecast cashflow and budget correctly. Our team are quite new to this level of fiscal responsibility and we want to engage the services of a local accountant (well versed with CIC's) in order to set up grant tracking within Xero to enable us to report more accurately against grant income and to inform our spending decisions. As we now employ staff it is important to us to safeguard both their positions and to help them grow through training like this. This will cost £130*.
*the cost of this training will likely exceed £130 but Borrow Don't Buy will pay the additional.
£250.00 GBP
Total amount £250.00 GBP
Additional Information
Paid to
Rob Wick@rob-wick
payout method
Bank account
Details
********By Rob Wick
on Expense created
Expense scheduled for payment
Expense processing
Expense paid
Expense Amount: £250.00
Payment Processor Fee: £0.00
Net Amount for Plymouth Octopus (POP): £250.00
Collective balance
Expense policies
Expense policies
Expense Policy
Applications
Applications
- You must be a POP member organisation with a turnover below £100,000 to apply for 250 a POP
- Applications are made at https://bit.ly/250-a-POP
- Applications must attach a bank statement corresponding to whichever account you would like your grant award to be paid into.
Decision Making
- POP will decide which qualifying applications it will approve at a monthly online Zoom meeting. Decisions will be made by lottery.
- Organisations that are successful in this lottery will have to wait 12 months before reapplying for the fund.
- POP will only pay organisations that it has instructed to submit expenses on Open Collective.
Submitting an Expense:
- Expense claims must include either a receipt for an expense raised in the past 6 months, or evidence of an expense to raise within the next calendar month. The evidence for future purposes will be a detailed explanation of will be purchased, together with an invoice or purchase order.
Open Collective Process
- We aim to process expenses within a week. If an organisation that POP has instructed to submit an expense needs to be refunded more quickly, please get in touch via [email protected]
Expenses covered (non-exhaustive)
- Individual support: Food, Prescriptions & medicine, Essential household items, Topping up utilities (eg. gas, electric, phone, water)
- Volunteer transport & travel
- Training
- Equipment
- Someone’s time
- Limits/not covered
- Up to £250 per claim
FAQ
How do I get paid from a Collective?
Submit an expense and provide your payment information.
How are expenses approved?
Collective admins are notified when an expense is submitted, and they can approve or reject it.
Is my private data made public?
No. Only the expense amount and description are public. Attachments, payment info, emails and addresses are only visible to you and the admins.
When will I get paid?
Payments are processed by the Collective's Fiscal Host, the organization that hold funds on their behalf. Many Fiscal Hosts pay expenses weekly, but each one is different.
Why do you need my legal name?
The display name is public and the legal name is private, appearing on receipts, invoices, and other official documentation used for tax and accounting purposes.
Collective balance
£4,211.66 GBPFiscal Host:
The Social Change Nest