Millennium Third Age Centre
The Third Age Centre (3AC) is 4 a storey community building in Bevois valley, Southampton. The charity had been struggling financially following an 85% drop in its income due in part to the economic downturn and also as result of unstainable practice. As a result it had all but ceased delivering any social value and as result of the large costs associated with running a big building it began losing money fast with little reserves.
In 2011 Stepacross was commissioned to take the charity and its staff through the process of significant transformation. We worked with the trustees to develop and agree a new business plan and to deliver the objectives listed below.
Third Age Centre Business Plan Objectives:
- To improve our financial wellbeing and develop the capacity to achieve long term sustainability by 2014
- To drive the change required to meet our vision using the most effective Value for Money techniques
- Maximise the use of our meeting, training, event and office facilities as part of a successful and sustainable business model that delivers added social value
- Work with others, where it adds value, to deliver co-production activities that drive value for money improvements for the 3AC and for our partners using the hub
- To reach out from the centre and deliver work across the city that both secures social impact and funds for 3AC
As ever we have applied our value for money principles in delivering the commission
- We have ensured the charity is more effective at meeting the needs of its community offering more services that make a measurable difference.
- Efficiency for all by working collaboratively through our funding syndicate and using our co-production techniques.
- Economy we reduced overheads and significantly boosted commercial revenue, grants and sponsorship.
- We delivered added social value by applying an intergenerational approach- understanding that everyone has strengths that they can use to support others. We empower our users and volunteers to take ownership and an active part as well as enjoying the benefits of the charity.
Stepacross CIC has successfully secured the short and medium term future of the charity. We are now supporting 3AC as a paid management and, as a coproduction partner, delivering of Trustees vision outlined in its new business plan.