This campaign has now closed
STRPS has been awarded £1M from the HLF Catalyst Endowment Fund. We have 4 years to raise another £1M in private match funding, to create a new £2M endowment fund. Income from the new £2M endowment will be dedicated to planned preventive maintenance and repair of the STR's many heritage assets.
Categories
Beneficiaries
Situation
The Society is responsible for more than 35 station buildings, stone bridges, viaducts and major culverts along 5 miles of railway, which were originally built by the Newcastle and Carlisle between 1849 and 1852. When the railway reaches Haltwhistle (target 2022), the Society will be responsible for a total of more than 80 structures of this type. The STR is also responsible for the conservation, maintenance and repair of numerous heritage steam, diesel and electric locomotives and artefacts.
Solution
Subject to fund-raising, this Project will create a new and enduring £2M (minimum) endowment, Invested for income and for growth, the income (£100,000pa at 5%) will be used for planned preventive maintenance and repair of STRPS heritage assets; avoiding dependency on accumulated revenue reserves and the risks associated with being dependent on grants for core costs or when occasional emergencies arise.