How We’re Funded & How We Spend It
We’re really keen to change the status quo within the martial arts industry by being completely transparent on how we’re funded and how we spend that income.
Whilst the British Martial Arts & Boxing Association is a limited company, we’ve made a binding commitment within our constitution and charter to be absolutely honest about how we gain our income, how it’s spent and who earns what. This is part of our on-going commitment to being transparent, ethical and responsible as a NGO.
We are completely self sufficient and rely wholly upon our own self-funding via memberships and internal processes. We are 100% internally owned, and was started from £0 by self-investment from our association director. This, we believe, ensures we’re able to respond to the needs of our members and the interests of the community without worrying about investors or stake-holders.
How Are We Funded?
The BMABA is completely self-reliant upon it’s own commercial operations to remain operational. We receive no funding whatsoever from any government organisations, local authorities or other charities / sports organisations.
Our income comes solely from our trading with the martial arts community. A proportion of income (approximately 35% / 45%) is attributed to new and renewing memberships. A further significant proportion (circa 40% / 50%) comes from our student registrations and additional student related services. This in turn provides a standard association model whereby income is generated from the membership dues of those under our banner.
The remainder of income (circa 15% / 35%) is obtained through other association related income leads – so services associated with that of a martial arts organisation.
Have we ever received funding? What about at start up?
We have never received any handouts, grants, funding or support from any third party organisation – government or private.
The BMABA is very proud to have been started by the Entrepreneur and now Director, Giovanni with an investment of £4.99 for a domain name and £10 of capital in February 2012. Since then we have dedicated untold numbers of hours, days, weeks and months developing an organic cash-flow mechanism that continues to support a leading organisation that lives within it’s means.
Substantial (relative to scale) capital has been invested since our formation in 2012 – however this has been done by the now Director via other personal earnings.
The BMABA is currently debt free in it’s entirety.
Who Get’s Paid What?
Our committee remain as volunteers to the organisation. Whilst the association makes all efforts to compensate them for their time by way of benefits in kind (free or discounted memberships and other services where possible) nobody on the committee has, or does receive a single penny in remuneration for their work, efforts or time. The committee is entirely voluntary.
The association secretary, Kirsty is also a voluntary part of the BMABA and does not draw any wage.
The only member of the association at present to receive financial remuneration for their time is the Association’s Sole Director. Whilst the workload is that of a full time role, only as part time remuneration to cover costs, time and a moderate amount of surplus income is provided. You can find out more about this from the ‘meet the team’ section of our main website.Meet The Team Behind The BMABA
How Is Income Spent, And Who Decides On This?
The association has grown to be one of considerable size and stature within the industry. With this our spending and costs have also dramatically increased. Our general spending is decided by the Director, Secretary or senior management team and remains within their area of control.
Spending is largely in direct correlation to on-going business costs and provisions required to keep the BMABA running as a sole operation.
Of our typical turnover a large majority of costs is accrued in financing our large Group Cover Policy which is now running in five figure terms. Second to the expenses of the group’s insurance requirements (including that of our instructors) I.T and technology – and our continued investment in this area – remains our second largest cost(s).
BMABA finances are meticulously managed to ensure that wages and any other dividends are only drawn on surplus profit. It is accepted by all involved in senior management that safeguarding the cashflow position of the association, and protecting the continued efforts to re-invest within our organisation, remains a critical objective.