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Difference between revisions of "Member-Funded Societies (Societies Act FAQs)"
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Member-Funded Societies (Societies Act FAQs) (view source)
Revision as of 20:47, 28 December 2016
, 20:47, 28 December 2016→How do we decide whether to transition as a member-funded society?
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As Chair of the Governance Committee of a society serving a reasonably sophisticated community, working our way through the new Societies Act, the Constitution and Bylaw review necessary for all societies in BC at this time, and the key considerations, thoughts turned to Part 12, Division 1, which provides for Member-Funded Societies. | As Chair of the Governance Committee of a society serving a reasonably sophisticated community, working our way through the new Societies Act, the Constitution and Bylaw review necessary for all societies in BC at this time, and the key considerations, thoughts turned to Part 12, Division 1, which provides for Member-Funded Societies. | ||
Preparing for B.C.’s New Societies Act: A Guide to the Transition Process, tells us | |||
Preparing for B.C.’s New Societies Act: A Guide to the Transition Process, tells us: | |||
On transition, each pre-existing society will be asked whether it wishes to designate itself as a “member-funded society” by including a statement to that effect in its constitution. A member-funded society is a society that is funded primarily by its members to carry on activities for the bene t of its members. Common examples might include some sports clubs, golf courses and professional associations. | On transition, each pre-existing society will be asked whether it wishes to designate itself as a “member-funded society” by including a statement to that effect in its constitution. A member-funded society is a society that is funded primarily by its members to carry on activities for the bene t of its members. Common examples might include some sports clubs, golf courses and professional associations. | ||
This seemed a perfect fit for us. Although a society cannot be a member-funded society if it receives public donations or government funding beyond specific thresholds, there was a high degree of confidence that this fit our circumstances, until we spoke with a lawyer. Working through the language of the Act and the due diligence necessary to come to a confident conclusion, doubts crept in. Shifting the focus from the due diligence of an historic review of financials, decisions and minutes over at least the past two years, to a view looking forward, and the potential constraints selecting member-funded status might impose on future directions and decision-making, doubts were no longer merely creeping, they were striding confidently. | This seemed a perfect fit for us. Although a society cannot be a member-funded society if it receives public donations or government funding beyond specific thresholds, there was a high degree of confidence that this fit our circumstances, until we spoke with a lawyer. Working through the language of the Act and the due diligence necessary to come to a confident conclusion, doubts crept in. Shifting the focus from the due diligence of an historic review of financials, decisions and minutes over at least the past two years, to a view looking forward, and the potential constraints selecting member-funded status might impose on future directions and decision-making, doubts were no longer merely creeping, they were striding confidently. | ||
At this point, it was prudent to step away from thinking solely from the perspective based on first impression, “of course we are member-funded”, to one that turned things around and looked at the decision from the point of view of what does member-funded status achieve. What are the benefits? | At this point, it was prudent to step away from thinking solely from the perspective based on first impression, “of course we are member-funded”, to one that turned things around and looked at the decision from the point of view of what does member-funded status achieve. What are the benefits? | ||
====Member-Funded Societies Considerations==== | |||
s. 28 Financial Statements: no right of access to public Is it really appropriate and in the society’s best interests to restrict public access? What are the implications? Are there circumstances where public access should take place? How will access be policed? | *s. 28 Financial Statements: no right of access to public | ||
**Is it really appropriate and in the society’s best interests to restrict public access? What are the implications? | |||
**Are there circumstances where public access should take place? | |||
**How will access be policed? | |||
s. 36 Disclosure of remuneration on Financial Statements: no need to disclose director remuneration or salaries paid to senior staff in notes to financial statements Is it appropriate, even in a member-funded society, to not be open and transparent about director remuneration and senior staff salary? Shouldn’t the members be entitled to this information? | s. 36 Disclosure of remuneration on Financial Statements: no need to disclose director remuneration or salaries paid to senior staff in notes to financial statements Is it appropriate, even in a member-funded society, to not be open and transparent about director remuneration and senior staff salary? Shouldn’t the members be entitled to this information? | ||