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Where Does The Money Go?


marley
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Hi all

Thinking ahead... ok..very far ahead!

 

If school club committee dissolves then monies have to go to charity (approx £30k!). Could this be given to the PTA of the school to help fundraise for the new building at the school?

 

The constitution says..."shall be given to or transferred to other such charitable instiution having objects similar to some or all of the objects of the group as the group may determine and if and in so far as effect to be given to this provision then to some other charitable purpose"

 

Thanks

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Well in my interpretation - yes it could. But the stumbling block might be the use of the funds for capital expenditure as I have run across some issues around this before. Money can be used for the running costs and provision but sometimes there are blocks on capital expenditure. However it would probably be best to try and find a local charity advice body to see if they can help. Ours used to be CVS (I think, and I think they used to be nationwide) but have now changed their name. They are called "(local town) Third Sector" now, but if you have one they should be able to help for little or no cost.

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