A NEW cultural arts destination in North Tyneside has been awarded charitable status by the Charity Commission after a 3-month bid assisted by Jesmond-based accountants Robson Laidler.
The Exchange North Tyneside Limited, housed within a stunning grade II listed building on Howard Street, offers space and networking opportunities for the arts and cultural sector.
As a result of the new charitable status The Exchange can now claim tax back on donations towards its future development, as well as able to apply for various charitable rate reliefs, gift aid and charitable grants.
The charity can now deliver even more projects alongside already successful events such as, theatre performances, monthly art exhibitions, youth drama and musical theatre clubs, baby and toddler story adventure groups, live music, poetry readings and open mic sessions.
Artistic director at The Exchange Karen Knox said: “Thanks to Robson Laidler, we now have the ability to make donations go further, either by getting tax relief on them or claiming it back through gift aid. Now that we have been granted a charitable status we can improve facilities, equipment and funding to support and benefit creativity in North Tyneside.
“Our vision is to support arts, culture and creativity by delivering an inspirational environment where skills and knowledge can grow. We actively engage with companies and individuals to help them develop personally and professionally and stay connected.”
Robson Laidler director Michael Moran, who assisted with the bid said: “Here at Robson Laidler we work closely with over 50 local charities and the not-for-profit sector. We were delighted to assist The Exchange with their charitable registration process.
“The Exchange can now benefit financially and the local community can benefit from a growing creative outlet. It is a valuable service for the people of North Tyneside and we are delighted that the Charity Commission has concurred with our view on this.”
The Exchange has already been host to a number of charity events such as an art exhibition in aid of Save the Children, the Musicians Against Homelessness live music event in aid of Crisis, the North Shields Fishermen’s Heritage Project and Age UK’s Age Takes Centre Stage charitable tea dance.
The Exchange continues to develop from strength to strength and has already gained its first funding from Northstar Ventures Fresh Ideas Fund which will go towards developing the theatre space, investing in equipment and improving services.