Saving the Beckenham Bandstand

On  August 13th, 2016 employees of Idverde launched a Spacehive crowdfunding scheme to save the bandstand in Beckenham’s Town Centre.

In the episode of the TV show The Apprentice, shown on BBC TV on 3rd November, the teams had to use crowdfunding.  The guy, in charge of the losing team, confessed that he had made mistakes. See what happened to him on: http://www.bbc.co.uk/iplayer/episode/b081z8s1/the-apprentice-youre-fired-series-12-5-cycling-crowdfunding.

By that same date 3rd November it was clear that the Idverde crowdfunding scheme was not going to be successful:

Spacehive Beckenham Bandstand Crowdfunding Goal                                £71,764

Total from all backers as at 9th November 2016                                             £44,003

Of which the following amounts were not from members of the public:

Community fundraising and London Borough of Bromley                                       £20,484

Bowie’s Beckenham Oddity Concert on August 13th                                                £15,817

Growing a Greener Britain ( a subsidiary of Idverde)                                    £  5,000

Sub –Total                                                                                                      £41,301

 

Pledges from 86 individual pledgers had raised just                                     £   2,702

Average pledge from the public was just  £31.42 p

Ignoring the lack of public support, Idverde staff decided that the date for final pledges by the public would be pushed back a month until 9th December 2016.

Today, the site says that with 31 days to go, £27,761 is required to meet the target of £71,761.  This is equal to £89.55 per day in donations, almost three times higher than the level achieved so far.

People interested in the Bandstand, please check my arithmetic.

They may also be able to deduce from the small print that, even if the target of £71,764 was ever reached, it would be reduced by Spacehive Fees of  £5,111 (7% of the total)

AND  the remedial work on the bandstand  would be held back until another crowdfunding scheme had been launched…….

Cliff Watkins

10th November, 2016

Leave a Reply

Name and email are required. Your email address will not be published.