Maccabi is cutting losses
Manchester Maccabi is reducing its losses but is still facing a £1,000-a-month shortfall.
At the height of its financial troubles two years ago, the north Manchester community and sports club was losing over £4,000 monthly and was under threat of having to sell its £2 million premises.
The latest accounts show that Maccabi generated £100,000 of voluntary income over the past year, helped primarily by large donations from community members. Treasurer Bernie Yaffe said the club needed more donations to meet its annual budget of £150,000. Venue hire and increased trade at its bistro would also help.
“We’ve brought in greater donations and the community needs to know that’s keeping us afloat and bringing the operations performance close to breaking even. We are on the right track and the key for us is to bring in more activities which can generate more revenue. The new group of people on our executive should help with that.”