Village Underground runs three companies

The model that we run as organization on is something they call three-legged stool. So we have three companies. There is a commercial company which has been set up in order to take the loans that we use to build all of this. And there is a not-for-profit company that we use to manage the workspaces and to deal with the artists. And that is tax efficient to get the best kind of the lowest rates that we can for artists to work here.

The commercial organization for example started out by receiving the loans that we took from the funding organizations in order to build everything. And then we run out our commercial activities there. So today we have got a filming day in there. That is typically commercial activity for us so we do a large event for a big company. Like we just signed a contract with Adidas to do kind of creative sporting event. And the commercial company runs those activities and then it feeds the money that we make from these activities back into running our not-for profit or our social programmes or our art programmes.

And we are also setting up a charity and the point of that part of the organization is to apply for grant funding to do particularly social projects and to work with people in the local area particularly hard to reach communities of homeless people or other marginalized groups. So it is three organizations or three companies which come together to form one main organization. And depending on work we are doing if it is a commercial work we use the commercial company. If it is a charity work we use the charity. And if it is arts cultural activities we quite often use the not-for-profit organization. So we then keep the flexibility to act and move and make decisions in way we want to.

CultureFighter

Village Underground runs three companies

Auro Foxcroft

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