Donations Policy
Purpose and protection of funds
All funds will go towards the set up and running of a new football club in Bury. The funds will go directly into the bank account of a not-for profit Community Benefit Society, Shakers Community Society Limited, which currently owns 100% of the shares in the football club. Shakers Community Society Limited Is authorised by the Financial Conduct Authority and can be found on the Mutuals Register with number 8350. As a Community Benefit Society it includes a statutory ‘asset lock’ within its rules which means that these funds are protected and can never be used for any other purpose than funding the club, cannot create profits or a dividend to private individuals. Should Shakers Community Society Limited ever be wound up it can only provide any residual funds to another Community Benefit Society or a charity such as the Bury Community Trust. Should an alternative football club be established in Bury the members of Shakers Community Society Limited will vote on whether it should support this club rather than its own.
Donations do not qualify for voting or membership rights. No refunds will be made for donations other than in the circumstances described below.
Refunds should the new club not proceed:
This policy dictates what will happen to donations in the event that the new football club owned by Shakers Community Society Limited is not launched by the start of the 2020/21 season.
Cash donations:
No cash donations will be refunded regardless of the amount.
Donations under £100
Any individual (but not cumulative) contributions of less than £100 will not be returned to the donor. They will be distributed at the discretion of the board of Shakers Community Society Limited to either one of or a combination of:
- Bury Community Trust
- Another Community Benefit Society in Bury Metropolitan Borough such as Forever Bury
- Any other Community Benefit Society
Donations over £100
Any donations of £100 or more will be refunded back to the bank account from which they were issued within a reasonable timescale determined by the board of Shakers Community Society Limited in their sole discretion but no later than 2 months after the start of the 2020/21 season. From this refund will be deducted an administration fee which will be the greater of £10 or the amount of fees charged by the bank or technology supplier used to handle the payment (e.g. PayPal or Stripe) at the time of payment.
It is your responsibility to retain evidence of payment of any donation where you request a refund, even where paid by cash so ensure you keep a receipt. We cannot refund any monies without this evidence.
