On Fri, Aug 29, 2008 at 6:20 AM, Alison Wheeler <wikimedia@alisonwheeler.com
wrote:
On Fri, August 29, 2008 01:03, Thomas Dalton wrote:
At the moment, however, a company limited by guarantee is pretty much the only option that protects the board.
The issue is not so much one of protecting the Board (though that is, of course, a good thing!) but that with a non-incorporated body all monies are deemed to be the personal assets of those involved (bad for tax) and hence people - especially possible large donors - will not give money as it has no 'independence'. A 'Body corporate' is the only way to protect funds with proper disclosure and financial security (and Directors are personally liable if company funds are misused too).
Assuming the organization has a need to hold assets and collect funds for non-immediate use in the first place.