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ShareSoc Charity Conversion – Member Survey

Help Shape ShareSoc's Future

Help Shape ShareSoc’s Future

As per the last AGM, the Board has been exploring if converting to charitable status could strengthen the organisation as well as improve its firepower and financials.

No final decision has yet been taken. But before proceeding further, we’d like to understand members’ views and whether members would be willing to help fund the necessary specialist legal and tax advice.

Why charitable status?

ShareSoc exists to promote better outcomes for private investors through:

  • Representing all individual investors
  • Improving financial literacy and investor education
  • Promoting good corporate governance
  • Responding to consultations and influencing public policy
  • Upholding shareholder rights and market integrity

The Board understands these activities would satisfy the public benefit test required for charitable status.

Potential Benefits Include

  • Gift Aid eligibility for qualifying membership subscriptions / donations
  • Higher Rate Tax paying members can reclaim tax on subscriptions/donations
  • More likely to attract donations, charitable grants and legacies
  • Enables additional fundraising options e.g. grants from charities, trusts, public bodies etc
  • Enhanced financial strength
  • Greater credibility with regulators, government and the wider public
  • Increased resources: e.g. to invest in investor education and shareholder representation

Issues Still Being Considered

The Board has obtained initial legal advice, which is broadly supportive, but there is still a lot to work through, including:

  • Detailed operational structure for commercial/charitable activities
  • Structuring member benefits to best fit charitable status
  • The most appropriate legal structure
  • – Bottoming out the resultant costs of both the application itself and implementation — currently estimated at c.£18,000

Further specialist advice is required before any final proposal can be put to members.

Your Views

Please take a few minutes to answer the questions below. Your responses will help the Board decide whether to proceed with charitable conversion.

1. Do you support the Board continuing to explore charitable status?(Required)
2. Which potential benefits do you consider most important? (Tick all that apply)(Required)
3. If ShareSoc ultimately became a charity, how important would that be in influencing your decision to remain a member?(Required)
4. The required professional advice and implementation costs are estimated at approximately £18,000.(Required)
Would you be willing to contribute towards these costs?
5. If yes, what level of contribution would you pledge?
6. Would you prefer your contribution to be:
Name (optional)

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