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ForoFlamenco Small Prize Fund
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Ron.M
Posts: 7051
Joined: Jul. 7 2003
From: Scotland
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 RE: ForoFlamenco Small Prize Fund (in reply to Ailsa)
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quote:
Does that mean everyone who wants to enter a challenge should pay to enter, and then there's a prize?
I see it as a General "slush-fund" which can be used to pay for small prizes, (Cejilla,CD, Book etc) in connection with future challenges to make them more fun and to make them more "official" as Florian says.
Nobody is compelled to donate and there is no compulsory entrance fee for any challenge.
If as many members as possible can dig into their pocket for some loose change initially, to provide a bit of a Challenge Pot then that should be able to finance quite a lot of things for a while.
When the pot is getting a bit low, we will ask for another round of donations.
This may be only once or twice a year....I dunno...It depends on how it goes and how many members support the venture.
The reason for a $3 single donation per member per round is so no member can claim more say or preferential treatment on the Forum.
$3 is a very small amount of money to most folk and will buy only a single guitar string here in the UK.
Anyone who cannot afford this small sum has the blessings and prayers of all here and sympathetic understanding of their abject poverty. 
Anyone who simply objects or is disinclined to donate is free to do so.
It would be beneficial to the Fund Holder (gj), if you could include your log-on name with your contribution, so that all funds can be ultimately verified if required.
This is so that any digruntled person in the future cannot say things like...
"There are 2800 members here....if even only half contributed $3, you would have $4,200....Only $600 has been spent on prizes...so what happened to the rest of it..huh?"
When in fact the reality of the situation is that only 200 members contributed.
An Excel sheet of names in alphabetical order can then be published if required and donators can see that their contribution has been properly recorded, along with the outgoing total expenditure.
(This also avoids the donators actual email address being published as PayPal is an email based account system.)
I wouldn't ever expect this to happen, but folk can be strange and we must afford the Fund Holder maximum protection against false accusations or suspicions.
Well that's my thoughts on it anyway.
Obviously anyone can add further comments, but let's not get too bogged down in detail or arguments so that the show doesn't even get off the ground and is abandoned.
Time is ticking away towards the Solea Challenge in a couple of weeks.
cheers,
Ron
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REPORT THIS POST AS INAPPROPRIATE |
Date Apr. 2 2009 1:32:43
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gj Michelob
Posts: 1531
Joined: Nov. 7 2008
From: New York City/San Francisco
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RE: ForoFlamenco Small Prize Fund -N... (in reply to Ron.M)
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Thank you Ron for the very sound and clear outline of rules and recommendations.
TRANSPARENCY: this is probably the most time consuming part, particularly if we can hope in a lot of contributions. I agree, however, that I will
1. share a periodic Accounting with the Forum
2. allow general/public Viewing Access to the bank-account hosting the contributions (Fund).
DISCIPLINE OF BANK ACCOUNT: by allowing viewing access, I am afraid I would forfeit the opportunity to host the Fund in my attorney’s escrow. These accounts are strictly disciplined by the certifying state (NY) and solely attorneys are permitted to administer them, with serious disciplinary consequences. It would probably represent the best solution, but wouldn’t allow the extent of transparency the Forum deserves and which would protect me (as you prudently cautioned) from allegations of mishandling or embezzling funds.
Instead, I suppose we should have an ordinary account.
TAX CONSEQUENCES: I need to research this item, so to avoid any tax on the account.
SOLUTIONs:
Registering an entity as a Non-For-Profit (hereinafter “NFP”) would indeed resolve many problems. There would be a serious initial investment of time but it would afford me and the Forum a formidable vehicle to:
1. avoid any tax consequences
2. allow transparency
3. receive government controlled and insured accounts
4. afford tax deductions to contributors [US tax payers certainly, foreigners –in certain qualified jurisdictions- to be determined];
a. this could be become interesting when and we will allow more substantial contributions from individuals and entities. Without complicating matters, this effort (setting up the NFP) may indeed create a thee layered contributory plan, to:
i. acquire and distribute competition prices –this could be the basic $3 donation;
ii. benefit the administration of the Forum;
iii. attract any other contribution to organize and sponsor members’ activities and events (such as a Video, CD or Concert, research and tutorial material)
While I share Ron’s concern that no one should develop a sense of privileged entitlement based on contribution, stringent rules of anonymity could be sanctioned unless the contribution is made to further or promote the contributor agency, notoriety or product (the Gov.of Spain, Vicente Amigo’s CDs or One’s website or Guitars).
If we choose this option, it would require an executive committee of some sort. Obviously Simon and Ron would be the automatic selection, perhaps supported by an Advisory committee –including Lawyers and Accountants wishing to devote some pro-bono time.
If there is a consensus I recommend this option. Although a modest contribution, its demands and issues wouldn’t differ from any other NFP type fund. It would be more work for me, but it would pay off in the long run.
_____________________________
gj Michelob
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REPORT THIS POST AS INAPPROPRIATE |
Date Apr. 2 2009 5:56:18
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