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Just because we are Not for Profit does not mean we don’t work hard to be efficient. We do not generate profit for shareholders, we generate  financial surplus for purpose. Read our statement here:

Purpose
We care about the people and the communities that we serve. We work, in collaboration with other’s, to create stable, secure, trusting and supportive environments where people feel they belong.

The purpose has strong links to the organisations *Rules

Surplus

We make a surplus for many reasons and never simply for the sake of it. As a not for profit housing group, all surpluses are invested back into the organisation. Surplus is used to deliver the purpose and to that end we invest in:

  • New Housing to provide local communities with high quality and fuel efficient, affordable
    housing to met a range of needs.
  • Existing housing to ensure tenants live in safe, warm and well maintained houses
  • Communities and neighbourhoods to facilitate and enable people to thrive
  • People to enable everyone to have a voice, influence and involvement at all levels.
  • Partnerships so that we can work together to find solutions to challenging housing issues

Maximising surplus is a major driver for the business in its successful delivery of its purpose through the five year vision and annual corporate plan. In addition, it is important North Star meets Regulatory expectations, particularly in relation to Value for Money. It is essential we continue to deliver successfully on our purpose as it keeps North Star strong in every aspect.

Surplus for Purpose Statement

 

*Rules (2015 model rules adopted by the Group)
A2 The association is formed for the benefit of the community. Its charitable
objectives shall be to carry on for the benefit of the community:
A2.1 The business of providing and managing housing, including
Social Housing and providing assistance to help house
people and associated facilities, amenities and services
for poor people or for the relief of aged, disabled or
chronically sick people.
A2.2 Any other charitable object that can be
carried out from time to time.