By April 1999 the reserves had grown to £136.7K. Some of this was a donation from the Colvin Estate, the origin of the rest is unknown. As there would have been expenses during this period, the sums raised would have been more than £36.7K. This, of course, understates the amount TVAF has raised, as it omits seven and half years of fundraising.
Using 1st April 1999 as the starting point, and 31st March 2016 (the date to which the latest set of accounts is made up) as the end point, our reserves stood at £89.7K, meaning that during this period we have used £47K of our reserves on promoting the arts in Test Valley. However, during the same period we have raised £467K. This is equivalent to a ratio of 1:10.
This calculation ignores donations in kind. For example Be Wiser have donated man-power to help manage projects that, at a conservative valuation, equates to £17K. In addition they have provided printing and publicity services which are difficult to value. Since April we have continued to use our initial endowment to raise over £30K in cash and in kind from the Arts Council, Be Wiser and Southampton University.
Apart from successfully raising funds ourselves, our grants to other artists and organisations can be used by them to leverage funding. For example, our grant to the Hub at Mottisfont enabled them to access funding from the Arts Council to add to the arts spending in both Test Valley and Hampshire.