Toast Presidency and The Board

[jathanas]

Thank you 76woodenspooners

One of BigFooty’s all-time-favourite posters, Reykjavik , was all across the board level stuff. He once posted a list of the responsibilities of a Not-For-Profit board like that of Collingwood …

abcdef.....ijklmnop

NFP board responsibilities
Specific responsibilities of a not-for-profit (NFP) board include:

• Driving the strategic direction of the organisation
• Working with the CEO to enable the organisation to obtain the resources, funds and personnel necessary to implement the organisation's strategic objectives
• Implementing, maintaining and (as necessary) refining a system of good governance that is appropriate for the organisation
• Reviewing reports and monitoring the performance of the organisation
• Regularly reviewing the board's structure and composition, so that these are appropriate for the organisation
• Appointing – and managing the performance of – a suitable CEO
• Succession planning for the CEO

While the above points are also applicable to for-profit boards, NFP boards also face a unique range of issues, such as:

• Difficulties in defining and measuring organisational effectiveness
• Transgression of role boundaries
• The negative impact of the structural compositions of some NFP boards, including those arising from representative models
• Funding dependencies and constraints

In practice, the role of the board is to supervise an organisation's business in two broad areas:

1. Overall business performance - ensuring the organisation develops and implements strategies and supporting policies to enable it to fulfill the objectives set out in the organisation's constitution. The board delegates the day to day management of the organisation but remains accountable to the shareholders for the organisation's performance. The board monitors and supports management in an on-going way.
2. Overall compliance performance - ensuring the organisation develops and implements systems to enable it to comply with its legal and policy obligations (complying with statutes such as the Corporations Act 2001, adhering to accounting standards) and ensure the organisation's assets are protected through appropriate risk management.

http://www.companydirectors.com.au/...ctor/NFP-governance/The-role-of-the-NFP-board

Link to original post …

Side by Side with Reykjavik - RIP (re-read Rey's message to us all #108, pg 5)

Reyk, I'm ridiculously happy to see you posting! :)

www.bigfooty.com

 

[PonsfordMagpie]

Don’t try to gaslight the bloke protesting you dictating what he can’t or can’t post.

“Either say something constructive or say nothing.“

I apologized on reflection a few pages later. I was wrong.

 

[Civilest]

Meh, once again, is your problem that his award is too small or that it has been created at all?

You want him off the board, good for you. Feel free to go for it. But knocking someone for setting up a charitable trust? Really? Rich people are people too.

The criticism is justified. In relative terms Joffa’s philanthropy is more impressive than AW’s. On top of that, joffa doesn’t advertise what an altruistic humanitarian he is. Ego + money.

 

[jackcass]

If we could have kept those three then we should have held out for better deals.

Why? We clearly identified them as players we wanted gone and moved them on. Got the best deals we could given their contracts the their nominated destination club. I can live with that, it seems others can't build that bridge.

 

[Markfs]

I've always found Bucks to be honest so I have no reason to not take what he says on face value. That he wants to go on in no way confirms he will. I'm not overly concerned with what others might think.

on 360 tonight gerard and the drunk both ignored the fact that buckley said that he would do the best for the club. They made out that he was going to demand an extension and probably would need to be sacked if it came to it.

and its good that you're not concerned with others. I tend to get a little put out when alcoholics are given too big a platform.

 

[sideswipe]

The criticism is justified. In relative terms Joffa’s philanthropy is more impressive than AW’s. On top of that, joffa doesn’t advertise what an altruistic humanitarian he is. Ego + money.

Just like the widow in the temple eh? Relativities in philanthropy are for the stupid.

Waislitz is a guy who has made a bundle. Good luck to him. His parents fled Poland with nothing. He has given many years to Collingwood. I think he deserves a little more respect.


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[mike123]

Why?

To not throw talent down the drain

 

[Civilest]

Just like the widow in the temple eh? Relativities in philanthropy are for the stupid.

Waislitz is a guy who has made a bundle. Good luck to him. His parents fled Poland with nothing. He has given many years to Collingwood. I think he deserves a little more respect.


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How else can you make an objective, quantitative judgement? Oh wait ....I know.... ad hominem retorts.

 

[jackcass]

To not throw talent down the drain

Not sure that there were any drains involved. Swapped 1 group of players for another. I'm happy to wait till I see what the new group deliver before I go all woe is me.

 

[sideswipe]

How else can you make an objective, quantitative judgement? Oh wait ....I know.... ad hominem retorts.

It was objective - go ahead and proceed to the end point of making qualitative judgements of philanthropy.


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[mike123]

Not sure that there were any drains involved. Swapped 1 group of players for another. I'm happy to wait till I see what the new group deliver before I go all woe is me.

The drain is the western bulldogs

 

[Markfs]

It was objective - go ahead and proceed to the end point of making qualitative judgements of philanthropy.


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Google definition of philanthropy.... as objective that I can be on the issue

"a person who seeks to promote the welfare of others, especially by the generous donation of money to good causes. "

key word "generous". Excuse my act of self-promotion but I gave 3% of my income to two charities last year. If I was a billionaire, that would equate to 30 million dollars. I dont call my donations philanthropy. I call it guilt relief. I cant even imagine how I would live with myself if I had such a grotesque amount of money as $1billion dollars when there are people in this world who cant find enough to fill their stomachs.

It's legal for Waislitz to have his money, but I dont owe him any respect for it. He is on the board of the collingwood football club, and I would get him off that board solely because he has a history of not being bothered to attend board meetings during his tenure. I would get him off because he has been irrelevant since he was placed on the board, as shown by his lack of presence in the last 2 or 3 months. However, I would also get him off the board because his presence trivialises the efforts of the club's work with the salvation army and other community groups.

 

[jackcass]

Google definition of philanthropy.... as objective that I can be on the issue

"a person who seeks to promote the welfare of others, especially by the generous donation of money to good causes. "

key word "generous". Excuse my act of self-promotion but I gave 3% of my income to two charities last year. If I was a billionaire, that would equate to 30 million dollars. I dont call my donations philanthropy. I call it guilt relief. I cant even imagine how I would live with myself if I had such a grotesque amount of money as $1billion dollars when there are people in this world who cant find enough to fill their stomachs.

It's legal for Waislitz to have his money, but I dont owe him any respect for it. He is on the board of the collingwood football club, and I would get him off that board solely because he has a history of not being bothered to attend board meetings during his tenure. I would get him off because he has been irrelevant since he was placed on the board, as shown by his lack of presence in the last 2 or 3 months. However, I would also get him off the board because his presence trivialises the efforts of the club's work with the salvation army and other community groups.

I share an office with an organization called the Foundation for Regional & Remote Renewal (FRRR). They deal specifically with channeling philanthropic funds to remote communities through grants programs. Most here would never have heard of them and they’d be even less who’d be aware of the sources of their funding. Truth is, you have no idea exactly how much any individual contributes back into their community and 1 publicised donation may not be the full quota of what an individual’s contributions. We’ve hit a new low if we’re being critical of someone making a significant donation.

 

[Markfs]

I share an office with an organization called the Foundation for Regional & Remote Renewal (FRRR). They deal specifically with channeling philanthropic funds to remote communities through grants programs. Most here would never have heard of them and they’d be even less who’d be aware of the sources of their funding. Truth is, you have no idea exactly how much any individual contributes back into their community and 1 publicised donation may not be the full quota of what an individual’s contributions. We’ve hit a new low if we’re being critical of someone making a significant donation.

im not critical of people making a significant donation. A couple of hundred thousand dollars is significant to me, as it would probably sponsor several thousand children across the world. The fact that waislitz choses to use his foundation to sponsor clontarf and a bushfire charity, is his choice. I must admit that i couldnt find any reference to his contribution on either of those two sites, even though they generously tell the world about the various companies that support them.

I noticed that you laughed at my last post. I'm glad this provides enjoyment. Here is some further enjoyment.

I did some investigation into alex waislitz's companies tax history. I was looking at figures on the ATO and noticed that he hasnt paid tax in some years. Such is his right in this country, not to pay tax. I dont question his legality.

I noticed that his company thorney investment went missing for a couple of years and i went searching and stumbled on this site. Michael West media, which promotes itself as a site for independent journalism. While I'm always cautious of people with their own agenda, I found his summary of Waislitz's tax situation to be accurate by my own research.

Alex Waislitz - Michael West

www.michaelwest.com.au

"Thorney Investment Group Pty Ltd. Tax information for Thorney Investment Group, is not available for the 2015-16 and 2016-17 financial years. However, available tax data shows that Thorney Investment group made $938.2 million of income in total over the 2013-14, 2014-15, and 2017-18 financial years. Despite having a combined taxable income of $95.6 million over this period, Thorney Investments paid zero dollars in corporate income tax.

In the 2018-19 financial year, Thorney Investment Group made $301.6 million of income with a taxable income of $22.5 million. They paid $510,507 in tax last year, which equates to an effective tax rate of 2.3%, a pittance compared to the headline corporate tax rate of 30%."

It's perfectly legal for a billionaire to promote himself as a philanthropist by putting a couple of hundred thousand into local charities. It is perfectly legal for him to also pay no or minimal tax.

However, I am also free to point out the facade that he has created with his association with the collingwood football club. If I've hit a new low, in your eyes, so be it. I hope this post provides you with another laugh.

 

[sideswipe]

Google definition of philanthropy.... as objective that I can be on the issue

"a person who seeks to promote the welfare of others, especially by the generous donation of money to good causes. "

key word "generous". Excuse my act of self-promotion but I gave 3% of my income to two charities last year. If I was a billionaire, that would equate to 30 million dollars. I dont call my donations philanthropy. I call it guilt relief. I cant even imagine how I would live with myself if I had such a grotesque amount of money as $1billion dollars when there are people in this world who cant find enough to fill their stomachs.

It's legal for Waislitz to have his money, but I dont owe him any respect for it. He is on the board of the collingwood football club, and I would get him off that board solely because he has a history of not being bothered to attend board meetings during his tenure. I would get him off because he has been irrelevant since he was placed on the board, as shown by his lack of presence in the last 2 or 3 months. However, I would also get him off the board because his presence trivialises the efforts of the club's work with the salvation army and other community groups.

This is my favourite, "If I was a billionaire, that would equate to 30 million dollars." Guessing that income of yours doesn't come from working with numbers?

For the 3%/$30m donation to apply, one would need to earn $1bn p.a., as opposed to being "a billionaire".

Anyway Marky, don't believe what you read about a person's net worth. Things like the BRW Rich List are notoriously inaccurate. They are guesses, which rarely include debt considerations.

 

[sideswipe]

im not critical of people making a significant donation. A couple of hundred thousand dollars is significant to me, as it would probably sponsor several thousand children across the world. The fact that waislitz choses to use his foundation to sponsor clontarf and a bushfire charity, is his choice. I must admit that i couldnt find any reference to his contribution on either of those two sites, even though they generously tell the world about the various companies that support them.

I noticed that you laughed at my last post. I'm glad this provides enjoyment. Here is some further enjoyment.

I did some investigation into alex waislitz's companies tax history. I was looking at figures on the ATO and noticed that he hasnt paid tax in some years. Such is his right in this country, not to pay tax. I dont question his legality.

I noticed that his company thorney investment went missing for a couple of years and i went searching and stumbled on this site. Michael West media, which promotes itself as a site for independent journalism. While I'm always cautious of people with their own agenda, I found his summary of Waislitz's tax situation to be accurate by my own research.

Alex Waislitz - Michael West

www.michaelwest.com.au

"Thorney Investment Group Pty Ltd. Tax information for Thorney Investment Group, is not available for the 2015-16 and 2016-17 financial years. However, available tax data shows that Thorney Investment group made $938.2 million of income in total over the 2013-14, 2014-15, and 2017-18 financial years. Despite having a combined taxable income of $95.6 million over this period, Thorney Investments paid zero dollars in corporate income tax.

In the 2018-19 financial year, Thorney Investment Group made $301.6 million of income with a taxable income of $22.5 million. They paid $510,507 in tax last year, which equates to an effective tax rate of 2.3%, a pittance compared to the headline corporate tax rate of 30%."

It's perfectly legal for a billionaire to promote himself as a philanthropist by putting a couple of hundred thousand into local charities. It is perfectly legal for him to also pay no or minimal tax.

However, I am also free to point out the facade that he has created with his association with the collingwood football club. If I've hit a new low, in your eyes, so be it. I hope this post provides you with another laugh.

One other thing Marky boy - you know when you sponsor a kid, you aren't really sponsoring a kid? Yes, hopefully your dollars (after costs) go to alleviating poverty, but please tell me you aren't one of those who believes the letters from a kid in Somalia. I heard Tim Costello speak one day - to paraphrase, "Of course there isn't a specific kid sponsored by a specific sponsor. Do you think that there are a bunch of kids in a town waiting to be sponsored and when a new donor comes on board, the next kid gets sponsored whilst others miss out? That would be unfair."

 

[Markfs]

One other thing Marky boy - you know when you sponsor a kid, you aren't really sponsoring a kid? Yes, hopefully your dollars (after costs) go to alleviating poverty, but please tell me you aren't one of those who believes the letters from a kid in Somalia. I heard Tim Costello speak one day - to paraphrase, "Of course there isn't a specific kid sponsored by a specific sponsor. Do you think that there are a bunch of kids in a town waiting to be sponsored and when a new donor comes on board, the next kid gets sponsored whilst others miss out? That would be unfair."

you can try to satirise an example that i use to illustrate my point. I would hope that waislitz could do a better job of providing assistance to those in need, because of his massive resources. Unfortunately, there are ordinary people in Australia who dont have those resources and have to put their faith in organisations like Plan etc. I dont sponsor kids through those organisations, but I dont trivialise and send up those people who try to make a difference..... some of these people might be making contributions that they could use for their own circumstances.

As I've said previously, I have nothing personal against waisltiz. I understand that it's good business practice to associate himself with an AFL club. I understand that it's good business practice to set up small "philanthropic" organisations to publicise relatively small contributions to targeted organisations. I understand that wealthy individuals and large organisations have the legal right to choose to pay tax.

It should be noted that his former father in law Richard Pratt also ran companies that paid little tax.... which was his right...and he was president of the carlton footy club. It's not illegal what waislitz is doing and as I said, it is smart business.

We have all heard the "more than money" thing that NAB is running. It has involvement in junior footy etc. It has a long and ongoing record of shafting various people over the several decades. They were investigated by the bank inquiry and evidently now, everything is fine. It has every right to portray itself as being more than just money. it is good business practice to do so. I am free to think its crap.

Back to Waislitz. Eddie has gone. I understood that his role was to fill a position on the board while eddie was there. Eddie is no longer there. Waislitz has no role.... much like a player in the team that he loves, Alex needs to give way to someone who can perform the role better than he has done for the last 2 decades. In fact, I saw Buckley make that offer yesterday at the press conference, to stand aside if the club thought it was the right thing to do. The offer was largely ignored by the Fox people.

I would suggest that the time is ripe for Waislitz to make a similar offer. To stand aside.

 

[sideswipe]

you can try to satirise an example that i use to illustrate my point. I would hope that waislitz could do a better job of providing assistance to those in need, because of his massive resources. Unfortunately, there are ordinary people in Australia who dont have those resources and have to put their faith in organisations like Plan etc. I dont sponsor kids through those organisations, but I dont trivialise and send up those people who try to make a difference..... some of these people might be making contributions that they could use for their own circumstances.

As I've said previously, I have nothing personal against waisltiz. I understand that it's good business practice to associate himself with an AFL club. I understand that it's good business practice to set up small "philanthropic" organisations to publicise relatively small contributions to targeted organisations. I understand that wealthy individuals and large organisations have the legal right to choose to pay tax.

It should be noted that his former father in law Richard Pratt also ran companies that paid little tax.... which was his right...and he was president of the carlton footy club. It's not illegal what waislitz is doing and as I said, it is smart business.

We have all heard the "more than money" thing that NAB is running. It has involvement in junior footy etc. It has a long and ongoing record of shafting various people over the several decades. They were investigated by the bank inquiry and evidently now, everything is fine. It has every right to portray itself as being more than just money. it is good business practice to do so. I am free to think its crap.

Back to Waislitz. Eddie has gone. I understood that his role was to fill a position on the board while eddie was there. Eddie is no longer there. Waislitz has no role.... much like a player in the team that he loves, Alex needs to give way to someone who can perform the role better than he has done for the last 2 decades. In fact, I saw Buckley make that offer yesterday at the press conference, to stand aside if the club thought it was the right thing to do. The offer was largely ignored by the Fox people.

I would suggest that the time is ripe for Waislitz to make a similar offer. To stand aside.

You have no idea how much Waislitz has given to charity. You pounce upon one scholarship-type scheme of what $100k or $250k and surmise that is the sum total of his charitable endeavours? Yet you yourself listed other organisations that his foundation has named as recipients? you are just guessing.

 

[Markfs]

This is my favourite, "If I was a billionaire, that would equate to 30 million dollars." Guessing that income of yours doesn't come from working with numbers?

For the 3%/$30m donation to apply, one would need to earn $1bn p.a., as opposed to being "a billionaire".

Anyway Marky, don't believe what you read about a person's net worth. Things like the BRW Rich List are notoriously inaccurate. They are guesses, which rarely include debt considerations.

yes. i'm not a businessman. I've never been one. I've paid tax each and every year since I started earning money as a 17 year old. For the most part, I've had to make choices on how I spend my money. I've never had a new car. I'm sure others have struggled more than me. But I've noticed that since I've got older, I feel uneasy about the limited wealth that I do have. I think the facts say that Waislitz has never had that problem.

Feel free to send up this comment as you see fit, and I honestly hope that this exchange is brought to waislitz's attention - it might get you another invite to one of his famous parties.

 

[Markfs]

You have no idea how much Waislitz has given to charity. You pounce upon one scholarship-type scheme of what $100k or $250k and surmise that is the sum total of his charitable endeavours? Yet you yourself listed other organisations that his foundation has named as recipients? you are just guessing.

Unlike a lot of people with vested interests, I am merely an ordinary person looking for the facts. I looked at his foundation on the charities site and it has had $100 - $200K in it for about a decade that he uses to give $100K prizes to people when he goes to new york. His foundation also talks about supporting clontarf and blazeaid, although neither organisation mention the waislitz foundation. Notably blazeaid still asks for wrenches and tarp covers for its trailers on its site, although it might not have been updated since the waislitz donation.

if BFers want to make a contribution to the bushfires cause, I recommend them going to

How To Get Fencing Help – BlazeAid

blazeaid.com.au

" Your donation to BlazeAid will help us pay for fencing tools and equipment, safety gear for volunteers, general day-to-day running costs, tool maintenance, etc. "

As for guessing, isnt it what we do at BF? I thought about 99.9% of it was guessing, but you know my maths is terrible.

 

[sideswipe]

Unlike a lot of people with vested interests, I am merely an ordinary person looking for the facts. I looked at his foundation on the charities site and it has had $100 - $200K in it for about a decade that he uses to give $100K prizes to people when he goes to new york. His foundation also talks about supporting clontarf and blazeaid, although neither organisation mention the waislitz foundation. Notably blazeaid still asks for wrenches and tarp covers for its trailers on its site, although it might not have been updated since the waislitz donation.

if BFers want to make a contribution to the bushfires cause, I recommend them going to

How To Get Fencing Help – BlazeAid

blazeaid.com.au

" Your donation to BlazeAid will help us pay for fencing tools and equipment, safety gear for volunteers, general day-to-day running costs, tool maintenance, etc. "

As for guessing, isnt it what we do at BF? I thought about 99.9% of it was guessing, but you know my maths is terrible.

I think you need to look harder for your facts and guess less?

Just for fun, I took a quick look at the ACNC website and the numbers seem very different to yours. As at June 2020, the Waislitz Family Foundation had $6.8m of assets, $167k of liabilities, made $196k from investments for FY20 over which time it donated, yes DONATED, $755k. To me, that ain't half bad?

Charity Register | ACNC

www.acnc.gov.au

Edit: think its a different organisation to the one you have been looking at - more than one charitable foundation?! Wow.

 

[Markfs]

I think you need to look harder for your facts and guess less?

Just for fun, I took a quick look at the ACNC website and the numbers seem very different to yours. As at June 2020, the Waislitz Family Foundation had $6.8m of assets, $167k of liabilities, made $196k from investments for FY20 over which time it donated, yes DONATED, $755k. To me, that ain't half bad?

Charity Register | ACNC

www.acnc.gov.au

Edit: think its a different organisation to the one you have been looking at - more than one charitable foundation?! Wow.

well i'm glad that you're taking such an interest. Well that explains the promise to the bushfires charity.

 

[jackcass]

im not critical of people making a significant donation. A couple of hundred thousand dollars is significant to me, as it would probably sponsor several thousand children across the world. The fact that waislitz choses to use his foundation to sponsor clontarf and a bushfire charity, is his choice. I must admit that i couldnt find any reference to his contribution on either of those two sites, even though they generously tell the world about the various companies that support them.

I noticed that you laughed at my last post. I'm glad this provides enjoyment. Here is some further enjoyment.

I did some investigation into alex waislitz's companies tax history. I was looking at figures on the ATO and noticed that he hasnt paid tax in some years. Such is his right in this country, not to pay tax. I dont question his legality.

I noticed that his company thorney investment went missing for a couple of years and i went searching and stumbled on this site. Michael West media, which promotes itself as a site for independent journalism. While I'm always cautious of people with their own agenda, I found his summary of Waislitz's tax situation to be accurate by my own research.

Alex Waislitz - Michael West

www.michaelwest.com.au

"Thorney Investment Group Pty Ltd. Tax information for Thorney Investment Group, is not available for the 2015-16 and 2016-17 financial years. However, available tax data shows that Thorney Investment group made $938.2 million of income in total over the 2013-14, 2014-15, and 2017-18 financial years. Despite having a combined taxable income of $95.6 million over this period, Thorney Investments paid zero dollars in corporate income tax.

In the 2018-19 financial year, Thorney Investment Group made $301.6 million of income with a taxable income of $22.5 million. They paid $510,507 in tax last year, which equates to an effective tax rate of 2.3%, a pittance compared to the headline corporate tax rate of 30%."

It's perfectly legal for a billionaire to promote himself as a philanthropist by putting a couple of hundred thousand into local charities. It is perfectly legal for him to also pay no or minimal tax.

However, I am also free to point out the facade that he has created with his association with the collingwood football club. If I've hit a new low, in your eyes, so be it. I hope this post provides you with another laugh.

I didn’t suggest he contributed via FRRR, just highlighting that a lot of philanthropy is done quietly behind closed doors. Who knows what else he does in this domain.

Pretty sure the tax laws aren't his fault as well.

Getting boring. I’ll leave it there.

 

[76woodenspooners]

Yes, hopefully your dollars (after costs) go to alleviating poverty, ...

100% of the funds do go towards alleviating poverty:

- alleviating poverty of marketing / agencies by giving them work
- alleviating poverty of executives by giving them an organisation to run
- alleviating poverty of money collectors on the street by giving them work
- etc, etc, etc ...

I know of one NFP who spends over 40 cents for every dollar collected on advertising and admin. They reckon that as long as they keep that below 100cents per dollar collected then they’re OK.

 

[Markfs]

100% of the funds do go towards alleviating poverty:

- alleviating poverty of marketing / agencies by giving them work
- alleviating poverty of executives by giving them an organisation to run
- alleviating poverty of money collectors on the street by giving them work
- etc, etc, etc ...

I know of one NFP who spends over 40 cents for every dollar collected on advertising and admin. They reckon that as long as they keep that below 100cents per dollar collected then they’re OK.

but no cynical attitude towards people like waislitz who skim money off those that work for it? oh yes, that's the system that we work within and it has delivered democracy and freedom to every person under its umbrella....

 

[sideswipe]

but no cynical attitude towards people like waislitz who skim money off those that work for it? oh yes, that's the system that we work within and it has delivered democracy and freedom to every person under its umbrella....

Equity capital markets participants aren’t really into skimming.

Are you becoming a commie?


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