Haven't seen a separate Wild Place thread so thought I'd mention it here... Currently fundraising for a giraffe house to the tune of 750k which I think is great news. Personally I would like to know why they don't just use some of the 40m in the reserves, will surely pay for itself relatively quickly.
The sooner the better I say, hopefully some of my dual membership money has already gone towards this project. Assuming it's planned for some time in 2016, it makes renewing next year a formality.
Subjectively speaking of course as I have a young family to whom this would appeal enormously.
You're making the classic mistake of thinking reserves equals cash, it doesn't. Reserves reflect profits made since year dot but the cash from those profits can be spent on items such as assets (enclosures) which would reduce cash but not reserves -i.e. it's completely possible to have high reserves and low cash if there's been a lot of spending on assets*. Sorry I can't be bothered to go into a convoluted accountancy lesson on a day off but, trust me, I'm right.
A quick review of Bristol's accounts show they only have a few hundred thousand in the bank, not millions, hence the appeal for cash.
*It'd be the very (simplified) equivalent of someone earning £200,000 (net) in a year but at the year-end having only £20,000 in the bank but having brought and retained a £140,000 house and £40,000 car -reserves/income £200,000, cash £20,000.