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FC United of Manchester - Community Benefit Society
Views: 655
FC United of Manchester were formed in 2005 as a Community Benefit Society.
Each member has one vote & can make donations to the Club, in any amount.
Andy Walsh, who was their General Manager before joining the Football Supporters Association, was instrumental in setting FCUM up at the outset.
A Community Benefit Society is regulated by the Financial Conduct Authority (FCA).
It does not need to be registered at Companies House.
Although a CBS cannot be registered as a charity by the Charities Commission, it can apply to HMRC for an exemption.
Edit:
A CBS is set up to serve the general public in the wider environment.
It is also worth noting that a CIC is not a charity, equally a Co-operative is not a charity.
Edit:
A girl who joined FCUM donated 50p & a 'southerner' who joined (who was not a Manchester United fan) donated £170k.
Edited by VoR at 08:26:31 on 10th February 2024
Edited by VoR at 08:27:10 on 10th February 2024
Edited by VoR at 08:33:09 on 10th February 2024
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Re: FC United of Manchester - Community Benefit Society
Views: 415
With over 3,000 members.
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Re: FC United of Manchester - Community Benefit Society
Views: 509
As Gustavus said, the new AI bot....
ChatVOR
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Hope is not a plan.
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3 people
Re: FC United of Manchester - Community Benefit Society
Views: 487
Setting up as a CBS might suit the Supporters Co-op's attitude to risk.
In a CBS the Directors are appointed/elected by the Members.
Most CIC's are set up as Private Limited Companies, limited by Guarantee, which means the Supporters Co-op's representative(s)/directors on the Board will assume equal responsibility to the other representatives/directors on the Board, including responsibility for financial matters/performance.
I don't know how that would cascade down to the Supporters Co-op's membership, particularly if the CIC was to get into financial difficulties, or ultimately fail?
Edited by VoR at 09:51:40 on 10th February 2024
Edited by VoR at 09:52:10 on 10th February 2024
Edited by VoR at 09:52:36 on 10th February 2024
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Re: FC United of Manchester - Community Benefit Society
Views: 524
Are you aware of the issues FCUM faced and are currently facing?
There average attendance is circa 1,800, were formed by disenchanted Man United supporters where it had got far too expensive to attend Old Trafford.
However, they find themselves just above relegation spot (at same level as boro were) and launching a fundraiser to help pay for stadium/stadium costs.
Not saying their model is right or wrong but their situation was unique (as is Boro's).
>>>> Former Nuneaton Boro fan <<<<
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Re: FC United of Manchester - Community Benefit Society
Views: 475
As an aside, setting up as a CIC could present difficulties for the Supporters Co-op membership, brought about by their legal responsibilities.
It appears that the CIC that Dan proposes to hand over to the Co-op is a Private Limited Company, limited by Shares.
Shareholders are a means of raising capital & in a CIC & they are entitled to a share/an amount of profit raised, which is subject to an asset lock.
This means there is a dividend cap on the amount that they can receive, to prevent any individual exploiting the CIC for personal gain.
Footnote:
I believe that Andy Walsh was the General Manager at FCUM.
Edited by VoR at 10:07:59 on 10th February 2024
Edited by VoR at 10:08:25 on 10th February 2024
Edited by VoR at 10:08:43 on 10th February 2024
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Re: FC United of Manchester - Community Benefit Society
Views: 361
VoR, setting up a CIC would carry no risk for the Co-op as such. If you read their Steering Committee statement, it makes it crystal clear that the Co-op will not be running the club (and, by inference, the CIC).
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Re: FC United of Manchester - Community Benefit Society
Views: 494
Andy was. He was the same chap who took on Murdock (and won) when SKY were looking to buy MUFC. He wrote a book about that.
He was also involved in a Man United Fanzine and IMUSA.
He has was also "man in pub" in a feature film based round a famous Man United footballer icon.
Any more you want to know?
>>>> Former Nuneaton Boro fan <<<<
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Re: FC United of Manchester - Community Benefit Society
Views: 519
Perhaps the coop could contact Andy Walsh and see if that model would suite a team in Nuneaton.
Just an idea.
>>>> Former Nuneaton Boro fan <<<<
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Re: FC United of Manchester - Community Benefit Society
Views: 418
Andy was present at the Co-op meeting at the Phoenix Centre. He discussed various ways forward for the new club.
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Re: FC United of Manchester - Community Benefit Society
Views: 411
Sarcasm clearly lost on you 😇😇😇
>>>> Former Nuneaton Boro fan <<<<
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Re: FC United of Manchester - Community Benefit Society
Views: 515
And your point is?
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How bright should floodlights be in the Conference?
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Re: FC United of Manchester - Community Benefit Society
Views: 488
He has no one to talk to so has ramdonly picked out a topic we have talked about numerous times before over the years to look and act smart, probably been on Google all night hoping someone gets something slightly wrong so he can critique them
I’m going with that 👍🏼
Retired Boro fan
Tottenham and Austin FC sufferer
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1 person
Re: FC United of Manchester - Community Benefit Society
Views: 484
Setting up as a Community Benefit Society could be an alternative to setting up as a CIC.
They are very popular.
According to the Football Supporters Association, most new community football clubs set up as a CBS.
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Re: FC United of Manchester - Community Benefit Society
Views: 483
Go join the co-op steering committee.
That is where this sort of info may be useful.
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How bright should floodlights be in the Conference?
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1 person
Re: FC United of Manchester - Community Benefit Society
Views: 450
I think an AIbot would be unwelcome.
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