Category: Finances & budgets

WOODSWORTH HOUSING CO-OPERATIVE, INC.

DONATIONS POLICY

Passed at GMM on May 14, 1991

The amount allocated for community donations will be recommended to the general members annually as part of the normal annual budgeting cycle. The recommended amount will be set at the discretion of the Board with advice from the Finance Committee.

1. The Board of Directors will disclose annually the full amount of donations made in the financial year, together with the names of the recipient charities and the amount awarded to each charity in a report prepared at the same time as the annual audited statement.

2. A member, or Board member, who makes a request for a donation to a cause to the Board, must disclose any affiliation to the cause, whether of membership or employment or other affiliation. Any such Board disclosure will be reported in the Meeting Minutes of the Board of Directors.

3. Allocation Guidelines:  In any financial year, the Board, at its discretion, may allocate an amount up to the indicated percentage of the total donations allocation to an organization or a combination of organizations in each of the following categories of causes:Co-op Housing Sector        75%
   Other Co-op Sector             50%
   Neighbourhood                    50%
   Other Community Causes    25%
   (This category includes environmental, food and hunger, community health and welfare, and peace causes.)
4. In no circumstances will the Co-operative donate funds to a political party or candidate for elected office.

Consolidated up to April 2010 and adopted September 30, 2010.