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How we fund Soar

Soar is a for-benefit organisation and registered charity.

We are 100% independently funded


How we raise money

As an organisation, our attitude to the money that permits us to bring programs to young people is that it is more important first to build a community of people that believe in the work we do and the approach we take to empowering young people. It is for this reason that we place absolute emphasis on the quality of a Soar program. We believe that if we do this the funding necessary to deliver the program will always be available.

2016 is a year where we built on the strides made towards a sustainable funding model. Soar’s leadership team, financial sustainability team and board members have all contributed expertise towards diversifying our income base to reduce the risk to our financial sustainability.

Our funding streams are divided into nine streams: Friends of Soar, Global Clan, Foundation, Grants & Charities, Donor Funds, Corporate Partnerships, Events, School Workshops, Corporate Workshops, and Monthly Giving Campaign. The sustainable funding streams outlined below are being developed and evolved to meet operational and workshop costs and fund the growth of new programs. This process will take time and focus but we are committed to investing in this model.

Soar Monthly Income 2016
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How we got to today

As the demand for Soar's programs has grown, we've recognised the need to plan long-term. This increased strategic thinking was thanks to the guidance of Social Entrepreneurs Ireland and wonderful consultants like Niamh O'Carroll and Orla O'Dwyer.

As an organisation we are very interested in evolving the traditional charity model to the point where Soar is self-sustaining through a range of innovative approaches to income generation. We are currently researching ways of doing this that work around the world for movements similar to Soar.

We do not receive government funding. This was a conscious choice, enabling us to build Soar specifically for young people, without politics. That is not to say we will not accept government support in time, but not till Soar has developed its identity and has proven that igniting a young person's heart can impact their life.


Income

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How we spend money

Soar values all currencies. And there are many - time, expertise, experience, passion, love. But there is also money and it is a vitally important currency to enable the work we do - actually a lot of our time is spent trying to figure out how to get enough of it! We have always wanted to evolve the not for profit model and are doing just that by working towards self-sustainability. So where does your and other supporters money go? In to five key areas:

  1. Operational Costs – (consisting of Property Costs, Administration Costs and Governance Costs). We have a small team of 11. As demand for Soar has grown this team has remained constant with new money raised being pushed towards training facilitators to be in schools. Soar is a people centred movement and as we are still in very early stage development this is one of our main costs. This also includes Administration and Office Costs such as funding our home. 
  2. Program Costs – These are the really incredible 18-30 year olds that the entire Soar model is based on. We recruit and train these guys and pay them to run workshops in schools across Ireland.
  3. Fund Generation – Soar has begun to invest in hosting annual events that will serve as a source of income on an annual basis. In May 2016 the inaugural Jim Stynes Golf Memorial took place. You know what they say: You have to spend money to make money!
  4. Marketing & Communications – It is hugely important for Soar to maintain an emotional connection with our community and young people and take them on the journey with us. As Soar is a youth driven organisation a huge part of our communication is online. Our communication mediums and platforms are currently undergoing a reboot beginning with our website. We want our content to be freely available and accessible to anyone to plug into anywhere in the world – not just those who through whatever circumstances come into our orbit in person – this will ensure no one gets left out on the magic.   
  5. Research and Development – We believe that it is our responsibility to show you that your money has impacted the lives of the young people that experience our programs. We have and continue to invest a large amount of time developing a research and evaluation process for our workshops.
Soar Monthly Expenditure 2016
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Expenditure

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Transparency and Governance

Transparency is not just a buzz word we throw around. Soar is committed to respecting the support we are shown by operating with integrity and transparency in all aspects of our work. 

Good governance means signing up to The Governance Code, Fundraising Principles and SORP, also known as the Triple Lock for Charities. 

  1. We confirm that our organisation complies with The Governance Code for the Community, Voluntary and Charitable Sector in Ireland. Check it out here​. Download our Soar Governance  Code here
  2. The Soar Foundation have adopted the Charity SORP in order to follow respected practice in relation to accounting and reporting. You can read more here
  3. The Soar Foundation is currently utilising the 'Seven Steps to Sign-up to the Fundraising Principles' to ensure that as an organisation we have all the necessary requirements in place that will enable The Soar Foundation to sign up to the Statement of Guiding Principles for Fundraising by Charities (www.ictr.ie).

Soar Reports 

Forged on a desire to unlock the true potential of Ireland’s young people, we are fully committed to doing what we can to enable young people to live their best life possible. Our reports give a comprehensive breakdown of our journey and progress so far.

Download our Annual Report & Accounts 2012/2013 here 
Download our Annual Report & Accounts 2013/2014 here

 

(2015) Download the Soar Story, Chapter 3

 

(2014) Download the Soar Story, Chapter 2 .

(2013) Download the Soar Story, Chapter 1.  

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