Good practice:

Combination of crowdfunding with a grant to finance the restoration of historical facilities

Ravelin II belonged to the defensive ring of Magdeburg Fortress and was built in 1871-1873. The complex served as an depot to the fortress artillery until 1919 and after 1945 it housed emergency apartments and served commercial purposes.In 1990, the site was abandoned and fell victim of vandalism. A new turn in the history of the Ravelin II brought the private engagement of a group of committed citizens that in 2014 founded “Ravelin 2” an cultural association aiming at renovating the site through its own efforts and by raising private donations and funds. Since then Ravelin II has been used for a variety of cultural purposes. The association pays a rent to Magdeburg municipality, owner of the fortress. Due to increasing numbers of visitors and events, the sanitary facilities had to be renovated in line with the context. Since costs were too high for the association and subsidies were not available, the crowdfunding option was adopted. It was implemented thanks to the regional bank Volksbank through its web portal, dedicated to non-profit projects and free of charge. As a reward, crowdunding donors would receive small gifts.
Timeline:
• 08/2016: Opening of the crowd funding platform; determination of financing needs; preparation of project description etc.
• 09/2016: Project start. Recruitment of at least 100 fans within 14 days to start the project.
• 12/2016: End of donation phase. Funding amount was reached.

Funding amount: 15.000 € through the crowdfunding action, increased to 30.000 € by a grant from Lotto-Toto at regional level
1 person had to supervise the action (approx. 100 hours over 6 months), tasks were performed on a voluntary basis.
No costs for using the crowdfunding platform.

- carry out a renovation which would not have been possible from funds of the “Ravelin 2“ restoration association.
- the attention to the visit of the Ravelin was increased / inspired.
- further events could take place like theatre performances
- further financial resources from the city and by the ERDF OP of Saxony-Anhalt flow into the complex and enhance this cultural heritage.
- this renovation of Ravelin II could support the candidacy of Magdeburg as Capital of Culture in 2025

High advertising expenditure necessary for success. Public relations work was carried out via social media and through partners and friendly institutions.
Risk: If the given donation amount is not reached, the donations must be repaid. Therefore, an amountthat can be reached must be chosen.

The cooperation between public and private actors in the renovation of this cultural heritage property was fundamental to recover a dismissed property and to open it to the public as an added value for the local community and for the City of Magdeburg itself .
Successful crowdfunding can save own and state funds and is an advertising factor for the cultural asset.
Private actors can be attracted in this (financial) cooperation so to enhance aspects such
• better visibility and concrete involvement in a local project
• social impact on the community: "Helping people to help themselves" is one of the basic ideas of cooperative banking of Volksbank Magdeburg and is represented by crowd funding
• involvement in cultural activities as new added value of corporate responsibility
• marketing tool: acquisition of potential new clients coming from unexplored fields: Volksbank granted a 10% subsidy on the donation amount if the project sponsor opened an account with them