Page 13 - Oundle Life October 2024

THE RIGHT TRACK
Nene Valley Railway update on £300,000 appeal
Back in May, Nene Valley Railway launched an urgent appeal to raise £300,000 to keep the railway running in the face of stark financial challenges. These challenges came about due to a combination of COVID-19 leaving a deficit over a two-year period and also operating costs rising sharply.
Initial response to the appeal has been fantastic with over £65,000 having been raised so far. We have seen donations coming in from around the world and there have been people carrying out their own sponsored challenges to
The railway is not in immediate
danger of closing. We are running as
normal and will continue to do so. The £300,000 fundraising target is there to
refill our reserves. It will enable the
railway to maintain operations, conduct essential repairs and embark on vital infrastructure upgrades and restoration projects to ensure its long-term viability.
The railway needs to be able to manage unforeseen events such as equipment failure or another pandemic. Without rebuilding reserves in this way and in the sum suggested operations may have to be scaled back or otherwise revisited in order to derisk/reduce the contingency needs catered for by reserves at the level targeted.
The railway is not in immediate danger of closing
support the railway too.
In addition to donations, the NVR
has been applying to a variety of benevolent organisations.
The first response has been from the Garfield Weston Foundation, who have allocated £20,000 towards NVR’s core costs – this includes overheads and non-capital spending. Garfield Weston
Foundation is a family founded grant-maker that gives money to support a wide range of charities across the UK. In total they donate around £90 million each year. We are of course very grateful for this generosity, the money does not go to a specific purpose but makes a significant contribution to the general funding level within the railway, keeping wheels turning and boilers steaming.
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