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Project 2K - The Jags Foundation


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At the The The Jags Foundation AGM the members voted to increase funding to the club to the following levels for this season:-
- £12,500 a month to Partick Thistle FC
- £2,000 a month to Thistle Youth Academy
- £5,000 per season to Partick Thistle Women's FCs

Effectively putting just shy of £15,000 a month to the club in guaranteed, regular and budgeted payments.

We want to do more though, more for the club, more for the community, and more members events.

We are launching “Project 2K” where we aim to drive membership up to 2000 members, and we need your help.

- If you have not joined, please do. 
- If you are unsure, please reach out to one of the 9 current board members. We are happy to talk through any doubts you have or answer any questions.
- If you are a member but have mates who are not, try and get them to sign up, and as above if they want to talk to one of us, have them contact us.

The club are supporting this drive as not only does it generate more revenue, it increases the democratic voice of the fans. 

Fan ownership at Thistle is already doing really well, we have the opportunity to make it even better and ensure “Thistle are Rising Again”

If anyone has any questions DM me, I’m also happy to call folk back if needed, if they’d rather talk through it. 

🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪

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38 minutes ago, ChiThistle said:

150k a year is not insignificant.  Does the club pay tax on that amount?

And how far is TJF from that 2k target?

It’s way more than £150k in total across the 3 bodies, it’s £179k guaranteed and budgeted income. We want to do more, this is before sponsorships or hospitality take overs as we’ve done previously which we hope to do again 

Its a donation so not taxable, our subs are £10 a month of which £9 is a donation to TJF 

We are just about 300 away from this target 

Edited by Norgethistle
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3 hours ago, ChiThistle said:

150k a year is not insignificant.  Does the club pay tax on that amount?

And how far is TJF from that 2k target?

The £150k is donated and is completely tax-free. It counts as income so, in the event that the Club becomes a profitable venture (spoiler alert, at the moment it isn’t) it could give rise in future to a corporation tax liability. I don’t foresee that any time soon as losses can often be carried forward for corporation tax purposes and the last few years have all been loss-making!

One of the advantages of the current TJF financial model is that VAT is not charged on the donations we make to the Club (as opposed to a sponsorship arrangement, which would) and because we are engaged with only mutual trading with our members, TJF’s income is exempt from corporation tax.

As of two minutes ago we have 1687 members!

Edited by Woodstock Jag
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3 hours ago, Norgethistle said:

It’s way more than £150k in total across the 3 bodies, it’s £179k guaranteed and budgeted income. We want to do more, this is before sponsorships or hospitality take overs as we’ve done previously which we hope to do again 

Its a donation so not taxable, our subs are £10 a month of which £9 is a donation to TJF 

We are just about 300 away from this target 

That’s fantastic work

Edited by Third Lanark
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On 6/8/2024 at 2:51 AM, Norgethistle said:

At the The The Jags Foundation AGM the members voted to increase funding to the club to the following levels for this season:-
- £12,500 a month to Partick Thistle FC
- £2,000 a month to Thistle Youth Academy
- £5,000 per season to Partick Thistle Women's FCs

Effectively putting just shy of £15,000 a month to the club in guaranteed, regular and budgeted payments.

We want to do more though, more for the club, more for the community, and more members events.

We are launching “Project 2K” where we aim to drive membership up to 2000 members, and we need your help.

- If you have not joined, please do. 
- If you are unsure, please reach out to one of the 9 current board members. We are happy to talk through any doubts you have or answer any questions.
- If you are a member but have mates who are not, try and get them to sign up, and as above if they want to talk to one of us, have them contact us.

The club are supporting this drive as not only does it generate more revenue, it increases the democratic voice of the fans. 

Fan ownership at Thistle is already doing really well, we have the opportunity to make it even better and ensure “Thistle are Rising Again”

If anyone has any questions DM me, I’m also happy to call folk back if needed, if they’d rather talk through it. 

🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪🇧🇪

 

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On 6/8/2024 at 7:17 PM, Woodstock Jag said:

The £150k is donated and is completely tax-free. It counts as income so, in the event that the Club becomes a profitable venture (spoiler alert, at the moment it isn’t) it could give rise in future to a corporation tax liability. I don’t foresee that any time soon as losses can often be carried forward for corporation tax purposes and the last few years have all been loss-making!

One of the advantages of the current TJF financial model is that VAT is not charged on the donations we make to the Club (as opposed to a sponsorship arrangement, which would) and because we are engaged with only mutual trading with our members, TJF’s income is exempt from corporation tax.

As of two minutes ago we have 1687 members!

Any update on membership numbers?

Looking for some/any info as the club has gone in to radio silence mode at the moment.

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3 hours ago, Fawlty Towers said:

Any update on membership numbers?

Looking for some/any info as the club has gone in to radio silence mode at the moment.

21 new members in the last 7 days.

In my experience, if there isn't much comms it's because there's nothing ready to say.

When there's something to say it will be said!

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  • 2 weeks later...
  • 1 month later...
11 minutes ago, Fawlty Towers said:

Any update on the current number of members?

I don’t have the numbers to hand as returning from a wedding abroad, but it’s sitting slightly shy of 1700. We’ve had a slight drop off of junior members on last season with about half of the 130 or so not having got round to renewing yet (and all the unrenewed ones expired at the end of June).

All other member categories are up and overall monthly pledged gross income is at an all time high (over £15k).

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