imutual.co.uk

Following on from this topic:
viewtopic.php?f=2&t=50842

Should imutual members be able to choose the charity they donate their shares to?

Note:
1. There are three options, yes / no / abstain;
2. Members can only choose one answer;
3. Members can change their vote.
4. This poll runs for seven days;

100% yes

Assuming any charity wants to accept them.

Wouldn't there be more workload if users gets to choose their charity? Eg 20 users chooses 20 different charity. Wouldn't we want to ask members for a list of lesser known charities or the charties they would like then

1) place them in a hat and pick 1 or 2.
2) Have a set amount agreed and
3) once that is met make payment to the charity.

Then repeat from 1 so that the charities that members mentioned gets its share.

I thought the whole idea of the share ethos was to encourage active participation in the site. This goes away from that. It is probably the case that no charity would accept shares that currently have no value. From a financial point of view far better to sell the shares when and if they have a value, then donate the proceeds via Gift Aid to the charity of your choice. At the moment you cannot transfer them to another individual or a Charity. I cant see why someone would want to create a further level of legal jargon into an already complicated structure therefore creating more work for the admin team and cost employing a solicitor to rewrite the articles. If and when they have a value would be a better time to discuss this.

As it would require a change to the articles. It would also require a vote at an AGM. No poll could be binding.

underdog wrote:100% yes

Not now

Torus wrote:I thought the whole idea of the share ethos was to encourage active participation in the site. This goes away from that. It is probably the case that no charity would accept shares that currently have no value. From a financial point of view far better to sell the shares when and if they have a value, then donate the proceeds via Gift Aid to the charity of your choice. At the moment you cannot transfer them to another individual or a Charity. I cant see why someone would want to create a further level of legal jargon into an already complicated structure therefore creating more work for the admin team and cost employing a solicitor to rewrite the articles. If and when they have a value would be a better time to discuss this.

As it would require a change to the articles. It would also require a vote at an AGM. No poll could be binding.

Much as it pains me to say so, but I have to agree with Torus on this one.

I might consider voting yes any way, in case one day the option to donate earnings is offered, despite that option being rejected last time it was mooted.

But at the moment I vote no.

How would you explain to the chairty what exactly they are getting and how much they are worth today....tomorrow...or in 2 years time even?

Charities have enough paper work to do already. If they shares ever have a monetary value then that would be different but until that day my answer has to be no.

If shares ever do get a value, you could always sell them and either you or your beneficiaries donate the proceeds wherever you/they want