Doug PollardIs the ALSO Foundation already dipping into ALSOCare funds?
ALSO President Jarred Hassell
David Owen, a lawyer and Board member, explains on Saturday Magazine today on Joy 94.9FM why some bequests should not be used for general purposes, even though the wishes of the legatees may not be legally binding.
David says there's a chronic lack of financial transparency, the organisation continues to rack up losses, some government grants cannot be acquitted, and asks why is the organisation running a OpShop when it has always made a loss?
His advice is to vote NO at the upcoming special meeting 20th: listen to the interview here:
David Owen interview SatMag JOY 94.9 2011-04-16 by Greg Adkins
ALSO President Jarred Hassell responds that its OK to run the OpShop at a loss as a community service, but twice ducks the question of whether the organisation is already using ALSOCare funds:
Jarred Hassell ALSO president interview SatMag JOY 94.9 2011-04-16 by Greg Adkins
Comment: On the basis of what we have heard from Jarred and the Board in the past and today, and what we have heard from Geoff Richards in recent days, and now David Owen, to give the ALSO Foundation access to the remaining ALSOCare legacies (if they have not already been accessed) would seem to be the height of folly.
There can be no confidence that the imagined income future income streams can be achieved within the 15 months it will take to run through the remaining $500k of legacies.
Put their money where there mouths are If the Board are so confident of finding this funding, let ALSOCare loan rather than give the money to the Foundation, to be repaid in 18 months time, and let that loan be personally guaranteed by the current Board members of both organisations.
If they are so confident that the organisation can bring in the $500k in 18 months then they should have no qualms in using their personal assets and property to guarantee the loan.
If they do not have that confidence, then why should the members?.
Go into administration I would suggest that the Foundation should be placed in administration immediately, break the lease on City Village (which costs $65k a year) and either move to smaller premises or take temporary shelter with VAC (where PLWHA are vacating space), move the shop to volunteer run only (saving $77k a year and allowing it to become a fundraising effort).
ALSOCare should continue, focussing wholly and solely on advocating for, supporting and assisting LGBTI seniors, as a purely voluntary organisation for the time being, thus preserving as much as possible of the remaining legacies.
During this time they can look at obtaining sufficient income streams to revive, if necessary, the Foundation.
Abandon grandiose and unaffordable ambition The organisation clearly cannot afford to finance its ambition to be a broad-spectrum representative body: it sshould concentrate on taking care of the people for whom it was originally devised - the seniors in our community.
Everything has a lifespan, including community organisations
Disclosure: I am 60 yrs old, therefore a senior myself. Just
Current Affairs
Rainbow Reporter
The (Finally) release of the 8 mnth financials CONFIRMS to me that your rumour was right. They have accessed funds - there isn't even $500,000 there to transfer - the motion would have to be amended or fail I think?
Were they going to release these figures if we had not pushed?
Well done Doug - hope realism drips thru to enough voters on Wednesday.