QLD Requirements for Not for Profit Fundraising Transparency?

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Pinchy

Active Member
27 November 2017
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Does anybody know the reporting/transparency requirements for Not For Profit fundraising?

Specifically - a Queensland-based sporting club is raising money to send a specific team to an event in 2020. If they hold fundraisers that are promoted specifically for this purpose, do the club and committee members have the right to know how much has been raised? Can the entity use money raised for this team's travel for another purpose (such as another club team's travel, infrastructure, insurances)?

The club is an incorporated entity and is not a charity.

I've looked at the Qld government's Incorporated Associations publication and the Australian Consumer Law guide for fundraising but can't see the answer to this question.
 

Rob Legat - SBPL

Lawyer
LawTap Verified
16 February 2017
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Gold Coast, Queensland
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As a general incorporated association, they will have to comply with their usual financial obligations. These can differ depending on the size of the association when it comes down to the need for auditing, but all IAs must have a treasurer and one of the committee’s requirements is to ensure the proper keeping of financial records. The committee can’t do that if they don’t have access to the accounting of how much has been raised.

A financial report must be prepared and presented for at least the annual general meeting, but most IAs routinely have interims prepared and presented at committee meetings and interim general meetings.

Associations members also have a right to access and inspect the records (both the minutes and the financial records). They can be charged a reasonable fee for this.

Since the IA is not a registered charity, they can use the funds with more flexibility. Spending should be in accordance with their objects, including the running of the association. Ideally the rules should cover what is allowed, and what checks and balances there are.