Are you a member of a local club or organisation? Ever wondered if you have any liabilities? Transferring to a corporate structure could reduce your risk.
Incorporating your club can provide several benefits, including:
1. Limited liability protection: Incorporating your club creates a separate legal entity that can protect the personal assets of the club’s members from any liabilities or debts incurred by the club.
2. Tax advantages: As an incorporated entity, your club may be eligible for tax exemptions or deductions that are not available to unincorporated organisations.
3. Credibility: Incorporating your club can help establish credibility and legitimacy for your organisation. This may help attract members and potential partners or sponsors.
4. Long-term existence: In other words, the club can continue to exist even if its founding members leave or pass away.
5. Increased fundraising opportunities: Incorporating your club can make it easier to secure funding from grants, foundations and other organisations that typically prefer to work with incorporated entities.
Overall, incorporating your club can provide numerous benefits and can help ensure the long-term success and stability of your organisation.
Other Interesting Blogs:
The 5 different types of charity
AWB Charlesworth’s Skipping for Charity
For more information, please contact Umberto Vietri on 01274 352056 or email umberto.vietri@awbclaw.co.uk.
11 May 2023