£500 received from M&S Bank / HSBC £4£ scheme
Pen-y-ffordd Tennis Club has been awarded a useful fund-boosting amount from a Corporate Social Responsibility scheme operated by HSBC. A healthy sum of £500 has been credited to the club account after committee member Nigel Edwards submitted a successful application to the bank's "£4£" scheme. And as £4£ is only available to registered charities, the club's new charitable status is already bearing fruit.
An application for funds from this scheme was possible as Nige is an employee of M&S Bank (a wholly owned subsiduary of HSBC) - it encourages HSBC staff members to assist good causes in their local area. The scheme will match every £1 raised for qualifying organisations up to a maximum of £500 in a calendar year. Alternatively, as in this case, the scheme will pay £10 to the charity for every hour that their employee works free-of-charge for the good cause.
As the person who built and maintains the club website and, amongst many other things, was the main driving force behind the club's participation in the Great British Tennis Weekend, Nige had comfortably completed the fifty hours of free work needed for PTC to qualify for the maximum amount.
The £500 has been added to funds in a separate account containing amounts ring-fenced for completion of the clubhouse - this account now contains £700. The club is currently waiting to receive an HMRC Gift Aid number, after which donations will be invited to eventually boost this amount to the £2000 required for this work to be carried out. Once the HMRC Gift Aid is in place, UK tax payers' donations will be boosted by 25p from the UK government for every £1 donated.