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FC United of Manchester - Community Benefit Society

By VoR10/2 08:22Sat Feb 10 08:22:50 2024

Views: 684

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 Β£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

By boro4410/2 14:35Sat Feb 10 14:35:00 2024In response to FC United of Manchester - Community Benefit SocietyTop of thread

Views: 441

With over 3,000 members.

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Re: FC United of Manchester - Community Benefit Society

By mark-nbfc10/2 09:23Sat Feb 10 09:23:59 2024In response to FC United of Manchester - Community Benefit SocietyTop of thread

Views: 535

As Gustavus said, the new AI bot....

ChatVOR

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Hope is not a plan.

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3 people like this 3 people

Re: FC United of Manchester - Community Benefit Society

By VoR10/2 09:50Sat Feb 10 09:50:50 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 512

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

By VS Dysfunctional (VS Boro)10/2 09:58Sat Feb 10 09:58:50 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 562

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

By VoR10/2 10:07Sat Feb 10 10:07:02 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 507

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

By Greg (NBFC)11/2 13:09Sun Feb 11 13:09:26 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 390

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

By VS Dysfunctional (VS Boro)10/2 10:16Sat Feb 10 10:16:48 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 521

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

By VS Dysfunctional (VS Boro)10/2 09:16Sat Feb 10 09:16:23 2024In response to FC United of Manchester - Community Benefit SocietyTop of thread

Views: 551

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

By Hgblue10/2 11:46Sat Feb 10 11:46:00 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 443

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

By VS Dysfunctional (VS Boro)10/2 11:52Sat Feb 10 11:52:00 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 436

Sarcasm clearly lost on you πŸ˜‡πŸ˜‡πŸ˜‡

>>>> Former Nuneaton Boro fan <<<<

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Re: FC United of Manchester - Community Benefit Society

By The_Hullablue10/2 08:58Sat Feb 10 08:58:48 2024In response to FC United of Manchester - Community Benefit SocietyTop of thread

Views: 541

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

By Spurs and Verde (Spurs and Verde)10/2 09:14Sat Feb 10 09:14:47 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 513

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 πŸ‘πŸΌ

Retired Boro fan
Tottenham and Austin FC sufferer

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1 person likes this 1 person

Re: FC United of Manchester - Community Benefit Society

By VoR10/2 09:03Sat Feb 10 09:03:33 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 513

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

By The_Hullablue10/2 09:15Sat Feb 10 09:15:50 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 509

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 likes this 1 person

Re: FC United of Manchester - Community Benefit Society

By VoR10/2 09:54Sat Feb 10 09:54:21 2024In response to Re: FC United of Manchester - Community Benefit SocietyTop of thread

Views: 479

I think an AIbot would be unwelcome.

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