Comparison
Suited to ….
Charitable purpose
Size
Decision making
Members
Accountability
Liability
Audit
Profits
How to incorporate
Maintaining registration after incorporation
Winding Up
Incorporated Society
Not for profit organisations where members have a common interest (eg sport, hobby & community interest
Can have a charitable purpose
Minimum of 15 members
By members at general meetings and by the committee in accordance with the rules
Who can be a member is determined by the rules
Committee accountable to the members
Limited liability – unless members run the society for their own profit (pecuniary gain)
No – unless required by the rules*
Must be used to run the society to achieve its purpose. Profits cannot be distributed to members.
Send applications to the Registrar.
- An application form with:
- one copy of the rules
- rules certification
- NZ$102.22
Send this information to the registrar:
- Annual Financial Statements
- Rule changes (including names)
- Change of contact details
According to the rules – surplus assets can be distributed amongst members
Charitable Trust
Not for profit organisations with a charitable purpose (eg education, religion, relief of poverty and other purposes that benefit the community)
Needs a charitable purpose
Minimum of two trustees
By the trustees in accordance with the trust deed
No members – trustees run the trust to benefit beneficiaries
Trustees are accountable to the beneficiaries and must comply with the trust deed and the Trustee Act 1956
Trustees no liable unless they fail to comply with requirements of trust deed or the Trustee Act 1956
No – unless required by the trust deed*
Must be used to run the charitable trust to achieve its purpose.
Send applications to the Registrar.
- An application form
- a copy of the trust deed or rules
- statutory declaration
Send this information to the registrar:
- Rule changes (including names)
- Change of contact details.
According to the trust deed – surplus assets must be distributed to other charitable organisations.
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