New 'Star Investor' at the National Star College
PUBLISHED: 16:18 05 October 2011 | UPDATED: 20:05 20 February 2013
Cheltenham-based consumer goods distributor and Fast Track 100 company, Intamarque, is helping the National Star College to fund its Lake House Project, by becoming a 'Star Investor'
Star College's new
Cheltenham-based consumer goods distributor and Fast Track 100 company, Intamarque, is helping the National Star College to fund its Lake House Project, by becoming a Star Investor.
Stephen Shortt, Director at Intamarque, says, The National Star College is a shining example of a forward thinking and innovation, and its right on our doorstep. We welcome this opportunity to make a contribution to the expansion of the Colleges facilities and resources, to provide more opportunities for young people with disabilities.
The Lake House Project is to adapt an existing 1970s building on the site to provide a much needed, modern living unit for a small number of young people with specific needs and capabilities who require access to the resources at the College, such as respite care. Work has commenced on the Lake House Project, the cost of which is c380k, and it is hoped that students will be able to live there from January 2012.
Intamarque is donating 3,750 to the College and is also providing a three-year interest-free loan of 7,000. The Venture Philanthropy initiative is an innovative and unique way of funding capital projects at the College and the net cost to each donor after the loan has been repaid, and with higher rate tax relief, is 1,875. With matched funding of 2,000 provided by a charitable trust, the National Star College receives 12,750 per Investor.
David Ellis, Chief Executive at National Star College, says, We are very grateful to Intamarque for their support and we look forward to developing a long-standing relationship. Venture Philanthropy is enabling us to move forward with capital projects such as the Lake House and provides donors with a great social return on their investment. We hope that this innovative form of funding will continue to attract investors.
Intamarque is the UKs fastest growing distributor of toiletries, household goods and grocery lines, and was recently ranked 39 in the Fast Track 100 league table. The company was set up by brothers Stephen and Richard Shortt in 2006. In July this year the company was selected to attend a special reception at No.10 with the Prime Minister, to commend UK entrepreneurs and fast growing businesses.
Companies or individuals that are interested in finding out more about the Venture Philanthropy concept are invited to attend a special business event at the National Star College on Wednesday, October 19 6pm-7.30pm. Taking place in the new Star Bistro, Cotswold Chef Rob Rees will be providing cooking demonstrations and there will be a chance for guests to learn about what the College has planned and how to get involved. For more information contact Laura Brookes on 01242 524478 or email email@example.com
PHOTOGRAPH:Stephen and Richard Shortt (Intamarque directors),Grace Turner and Joe Rae (College students), andChief Executive at the Star College, David Ellis.