PI faces funding crisis
Thursday, September 6th, 2007. Filed under Govan.The Pearce Institute (PI) in Govan, which closed in November 2001 for almost two years because of financial problems, is facing a severe funding shortfall once again.
PI Chief Executive Norie Mackie and PI Management Group members recently met with Nicola Sturgeon, MSP for Govan and Depute First Minister.
Nicola told the LOCAL NEWS, ‘The PI is a very important historical local amenity which is well loved and well used by the people of Govan. It’s a shame that it is once again in such a bad state. I am here to show my support and I will try to help with any funding applications.’
After the meeting Norie said, ‘I’m really happy with the support from Nicola and I am now more optimistic about sourcing funding to complete our renovation work.’
The building, which opened in 1906, costs around £200,000 per year to run. However, PI operating costs may exceed the income generated from the Pearce café, institute tenants and hall lets.
A total of £7 million is required to cover renovation work. In the past three years, £1.5million has been raised through local sources of funding. Major work needed includes the raising of the former gym floor to provide easier access and more flexible accommodation for the1200 people who visit the PI every week.
Part of the PI Management Group plan is to change the organisation from a charitable trust into a Company Limited by Guarantee. The Office of the Scottish Charity Regulator (OSCR) is currently processing this application.
Said Norie, ‘When the PI becomes a Limited Company there will be very few changes. Any new owners who take over will have a board of directors and two thirds of the board will consist of members of the local community.’