The crowd-funding project to raise money for the Church of Our Lady of the Sacred Heart (Basiliek Onze Lieve Vrouw van het Heilig Hart) in Sittard has already raised 51,631 euros, several days before the end of the campaign. That already exceeds the target of 50,000 euros, and contributions are still coming in. The money will be used to finance the renovation of the church tower. The church council will use the surplus funds raised to fund the lighting of the basilica. Investors have until 1 December to contribute via the online platform www.doorgeven.nl. ABN AMRO MeesPierson has supported the church council during the crowd-funding campaign.
Vera Hendriks, Seph Castro and Jules Hendriks, who are responsible for the project on behalf of the council of the Brotherhood of Our Lady of the Sacred Heart, are delighted: “This tremendous outcome has only been possible thanks to the combined efforts of a large number of volunteers and the support of the bank. It has proved that the Basilica of Sittard – the first church in the Netherlands to be awarded the title ‘basilica’– enjoys wide support within the community. We hope that will remain the case in the future.”
Crowd-funding for churches
Rian Vens-Hagting, Director of Relationship Management at ABN AMRO MeesPierson Institutions & Charities, adds: “Following the success of the first crowd-funding project for the Dom Church in Utrecht, we were keen to use this new way of raising funds for smaller religious institutions as well. That target had already been reached long before the closing date of 1 December. This project can accordingly be counted as a success.”
Alternative funding method
Crowd-funding is an alternative means of raising funds in which there is direct contact between investors and entrepreneurs. Investors receive a return on their contribution. Churches can make good use of the money raised through crowd-funding. The steady drop in their income over recent years has prompted them to look for new, modern initiatives to swell their financial resources. Crowd-funding fits in with this.
ABN AMRO MeesPierson Institutions & Charities
Institutions & Charities is part of ABN AMRO MeesPierson, the private bank of ABN AMRO, which provides a service to larger non-profit organisations. Its four main focus groups are fund-raising institutions, charitable trusts, educational charities and religious institutions. Institutions & Charities provides religious institutions with payment, investment and asset management services.