An old people’s charity in Greater Manchester has been gifted company shares as part of a “ground-breaking” partnership with a local publisher.
Age UK Bolton recently unveiled its partnership with LetzCre8, a Bolton-based publisher which supports local talent in art, creative writing, publishing and graphic design.
The partnership is unusual in that Age UK Bolton, whose most recently recorded income was just over £1.2m, has been gifted 200 of LetzCre8’s shares by the company.
According to a spokesperson from the charity, each share is valued at £3, meaning that the 200 shares hold a total monetary value of £600.
Age UK Bolton anticipates earning “increasing amounts of non-restricted income year on year” from its shares, as LetzCre8 is a new company with “an ambitious vision and positive trajectory”, according to the spokesperson.
They added: “Age UK Bolton have accepted the gift of shares on the basis that we can sell them back to LetzCre8 at any time and at market value. We do not, nor intend to, exercise any ownership rights.”
The gift is part of the publishers’ “ongoing dedication to delivering social value and supporting local communities”.
According to the charity, the initiative highlights “how private sector businesses can provide meaningful, long-term support to charitable organisations”, with the share gifting enabling Age UK Bolton to better plan for its future service provision.
‘Partnership ensures we can continue to work sustainably’
Lauren McKechnie, CEO of Age UK Bolton, said: “We are deeply moved by LetzCre8’s commitment to creating a lasting impact in our community.
“These shares will provide a new stream of projected income, enabling us to continue delivering vital services for older people in Bolton.
“From reducing loneliness to promoting independence, our work transforms lives - and this partnership ensures we can do so sustainably.
“LetzCre8’s vision aligns beautifully with ours, and this is a shining example of how businesses and charities can innovate and collaborate to build a brighter future.
“We encourage other local businesses to follow their inspiring lead and explore new ways to work together for the greater good.”
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