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Thread: What's Up in Irish Charities ?

  1. #31
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    Default Re: What's Up in Irish Charities ?

    Quote Originally Posted by Captain Con O'Sullivan View Post

    Whats the betting this 'charity status' in Ireland is being widely abused?
    I doubt you would find a bookie stupid enough to give you odds
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  2. #32
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    Default Re: What's Up in Irish Charities ?

    Yeh I know- I'd be collecting the same day.
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

  3. #33
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    Default Re: What's Up in Irish Charities ?

    Thanks to eagle eyed Jane (our Scarlet Lady) who spotted this re the announcement made a couple of years back on the ferocious clean up of the sector initiated by Fianna Fail;

    'The Act further provides that any organisation that holds charitable tax exemptions from the Revenue Commissioners on the day the Register of Charities is introduced will be automatically deemed to be entered onto the Register, and thus such organisations will not have to apply to the new Authority for registration.'

    In other words the existing 7,000 'charities' registered with the Revenue Commissioners won't have to explain what they do at all. It'll just be assumed that they are okay.

    Classic FF 'going forward' legislation which leaves the corruption behind the legislation completely untouched.

    One wonders why FF were not so keen to see all charities have to fill out a registration form for charitable status.
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

  4. #34
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    Default Re: What's Up in Irish Charities ?

    Quote Originally Posted by Captain Con O'Sullivan View Post
    Enterprise Equity is a venture capital fund I think connected with AIB. It lends to management buy-outs and commercial firms in the export sector I think ... how does this qualify as a charity?

    Its possible to invest in that fund at around the 1.5million euro mark ... its not a bloody charity. It doesn't make grants- it makes investments and operates as such as far as I can see. http://www.enterpriseequity.ie/about.html

    Whats the betting this 'charity status' in Ireland is being widely abused?
    This seems to be Enterprise Equity Venture Capital, but Enterprise Equity Venture Capital Group is a trading name of Venture Capital Investment Management Limited

    Is there a charity fronting the VC Group?

    Enterprise Equity Venture Capital is a national provider of venture capital to new and expanding companies throughout Ireland. As a professional venture capital funds manager, EEVC has invested €50 million in over 70 companies to date.

    EEVC invests equity capital in well managed early stage and growth orientated companies across a wide range of sectors including software, communications hardware, med tech, silicon, and food.

    Individual investments are typically up to ca. €1.5 million. EEVC will participate in larger deals through syndication, and it has a practical and well developed network of international and domestic syndicate partners.
    Enterprise Equity Venture Capital Group is a trading name of Venture Capital Investment Management Limited
    Registered office: Arena House, Sandyford Business Park, Dublin 18
    Registered in Ireland, Company No. 475271
    Venture Capital Investment Management Limited is regulated by the Financial Regulator
    http://www.enterpriseequity.ie/index.html

    There are 2 charities listed at the same address

    10336 Enterprise Equity (Ireland) Limited Dublin Road Dundalk Co. Louth
    14977 Enterprise Equity Investment Fund Limited Dublin Road Dundalk Co Louth
    http://www.revenue.ie/en/business/au...charities.html
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  5. #35
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    Default Re: What's Up in Irish Charities ?

    Perhaps someone who knows these charities might fill us in on their charitable works?

  6. #36
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    Default Re: What's Up in Irish Charities ?

    Those are strange names for charities. Most commercial ventures if they have a charitable foundation usually make sure the name is distinct from the commercial entity for sound reasons.

    I'm not so sure I'd be inclined to donate to someone with the name Enterprise Equity Venture Fund Ltd on their little tin.

    Classic setup in Ireland where for tax reasons an organisation can call itself a charity and swing out of the taxpayers pocket, then see its accounts hidden behind a paywall at the Company Registrar (I've already had one connected fan of an Irish charity sneeringly dare me to check their accounts in the hope I wouldn't and when I did I found exactly the sort of thing the sneerer was sneering about).

    I wonder whether the profits from this venture capital fund are returned to the Revenue Commissioners or individual investors who are gaining from the tax free status of this 'charity'?
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

  7. #37
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    Default Re: What's Up in Irish Charities ?

    There's a thought- it operates as a venture fund but is registered as a charity. If I were an investor with 1.5million burning a hole in my pocket and invested with this lot would I be able to claim that I'd donated 1.5 to charity and then pick up a tax benefit for being a philanthropist?

    Sniff sniff ... sniff sniff ...
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

  8. #38
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    Default Re: What's Up in Irish Charities ?

    Quote Originally Posted by Captain Con O'Sullivan View Post
    There's a thought- it operates as a venture fund but is registered as a charity. If I were an investor with 1.5million burning a hole in my pocket and invested with this lot would I be able to claim that I'd donated 1.5 to charity and then pick up a tax benefit for being a philanthropist?

    Sniff sniff ... sniff sniff ...
    Surely not. That noble bunch at AIB would never be involved in something that could operate like this..
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  9. #39
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    Default Re: What's Up in Irish Charities ?

    Thought I'd take a look at the sector from a different angle. How does the Revenue Commission decide whether an organisation is a charity or not?

    I found some guidance from a factsheet supplied on the Mason, Hayes and Curran website and this is a short extract (thanks to the helpful people there for such a nice summary laid out on their website and a neat explanation overall)

    'Approval of a body as an eligible charity

    An eligible charity means any body in the State which holds a charitable authorisation or CHY number from the Revenue Commissioners.

    The authorisation cannot be issued unless it is shown to the satisfaction of the Revenue Commissioners that:

    (1) It is a body of persons or a trust established for charitable purposes only;

    (2) That the income of the body or trust is applied for charitable purposes only;

    (3) Before the date of making the application the body or trust has been granted exemption as a charity for a period of not less than two years;

    (4) It provides such information to the Revenue Commissioners as they may reasonably require;

    (5) It complies with such conditions (if any) as the Minister for Social, Community and Family Affairs may from time to time specify for this part of the Act.

    The authorisation is for a maximum of five years.'

    http://www.mhc.ie/news-+-events/legal-articles/497/
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

  10. #40
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    Default Re: What's Up in Irish Charities ?

    For a charity to get registered up here in the North or in the UK it must demonstrate that it provides a public benefit. Funny how the ROI regulations dont seem to show the same. Its also unusua in that the free state usually just copies the laws and regulations straight from the UKs books (as in the case of drugs) (sorry no links but this mobile device makes it impossible)



    Quote Originally Posted by Captain Con O'Sullivan View Post
    Thought I'd take a look at the sector from a different angle. How does the Revenue Commission decide whether an organisation is a charity or not?

    I found some guidance from a factsheet supplied on the Mason, Hayes and Curran website and this is a short extract (thanks to the helpful people there for such a nice summary laid out on their website and a neat explanation overall)

    'Approval of a body as an eligible charity

    An eligible charity means any body in the State which holds a charitable authorisation or CHY number from the Revenue Commissioners.

    The authorisation cannot be issued unless it is shown to the satisfaction of the Revenue Commissioners that:

    (1) It is a body of persons or a trust established for charitable purposes only;

    (2) That the income of the body or trust is applied for charitable purposes only;

    (3) Before the date of making the application the body or trust has been granted exemption as a charity for a period of not less than two years;

    (4) It provides such information to the Revenue Commissioners as they may reasonably require;

    (5) It complies with such conditions (if any) as the Minister for Social, Community and Family Affairs may from time to time specify for this part of the Act.

    The authorisation is for a maximum of five years.'

    http://www.mhc.ie/news-+-events/legal-articles/497/
    Then the priest answered & said unto the Queen of Space, kissing her lovely brows, and the dew of her light bathing his whole body in a sweet-smelling perfume of sweat: O Nuit, continuous one of Heaven, let it be ever thus; that men speak not of Thee as One but as None; and let them speak not of thee at all, since thou art continuous! Liber AL vel Legis 1:27

  11. #41
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    Default Re: What's Up in Irish Charities ?

    Most Irish laws are simply cogged from the UK or elsewhere. The main objective for Irish legal drafts seems to be where to put the obvious loopholes. You can see that in that funny old novelty document from 1937 which is called the 'constitution'. Its more like a legal version of a Swiss cheese than an agreement between government and citizen- and all the holes are carefully placed on the government side.

    Even the Dail and Seanad are in their procedures a load of self-important gombeens imitating the old colonial days.

    Look at Irish courts- the wigs and robes and so on ... difference being in England its a lot harder to make a barrister or judge out of someone unfit to be put in front of an electorate.
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

  12. #42
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    Default Re: What's Up in Irish Charities ?

    A phone call or two tomorrow morning should get an answer to these questions

  13. #43
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    Default Re: What's Up in Irish Charities ?

    The phrase 'not for profit' is used by organisations trying to get individual donations or grants - but what does this exactly mean?

    If the Management/CEO/Board pay themselves well enough then there will not be 'profits'........

    An organisation called the Wheel did a salary survey of charities/NGOs - very interesting. It also listed the organisations included in the survey. Some jobs in these organisations are linked to civil service salary scales which as we know can be high and out of line with comparable scales in the UK say.

  14. #44
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    Default Re: What's Up in Irish Charities ?

    Hi Sarah ... ta for that. Thats really interesting about certain roles being pegged with civil service scales.. why on earth would that be the case I wonder?
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

  15. #45

    Default Re: What's Up in Irish Charities ?

    Quote Originally Posted by Captain Con O'Sullivan View Post
    Hi Sarah ... ta for that. Thats really interesting about certain roles being pegged with civil service scales.. why on earth would that be the case I wonder?
    Ditto Union officials. It seems to be the salary of scale of choice for 'insiders'.

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