Notes on the Principles of Membership Subscriptions and Charitable Donations
 
 
1. Members are asked to support the aims and purposes of the Company through 2 distinct elements; a membership subscription and a charitable donation. The subscription supports the Companies office and staff in the City of London. The charitable donation supports the work of the Company through its Charity, The International Bankers Charitable Trust. The split in the itemization is necessary in order to benefit from the tax concessions available in the United Kingdom covering charitable giving. The Companies Finance Committee has been advised that these payments might be combined and a single invoice has been prepared for the membership year beginning 1st October 2008.
2. At the time the Company was formed it was considered that the following total sums were appropriate for members to pay. As described above, they would be split according to need between the subscription and the charitable contribution as follows:
   
 
a. Members - £525 per annum.
b. Members from overseas - £262.50 per annum.
c. Retired members - £262.50 per annum.
e. Associates - £262.50 per annum.
f. Student Associates - £27.50 per annum.
g. Student Associates (Graduates) - £55 per annum.
3. The Companies Finance Committee ensures that the subscription element of the combined fee is held to the minimum amount necessary to cover administrative expenses. For the year from October 2008, the subscription is £250 for members and £125 for all other categories, except student associates and student associates (graduates) who are not required to pay a donation. Accordingly, the Court could reasonably expect that members would pay as a minimum, an equivalent amount into the Worshipful Company charity. Many members pay very substantial amounts in the Companies charity and also support the Companies objectives by arranging for the organizations they work with to provide additional support through providing work placements and opportunities.
4.

Although it must be emphasized that the charitable donation is voluntary, the very ethos of Company membership is to support its aims and objectives. Without members' support for its charitable and educational activities there would be little justification for its recognition as a fully functioning and empowered City Company. The following encapsulates the history and spirit of these goals:

When Companies were originally formed in medieval London they generally had 5 very clear aims: fellowship, charity, citizenship, commerce, comradeship and conviviality. All the great livery companies and Companies have had a history of supporting worthwhile causes in many ways. One of the main objectives of the Company of International Bankers is to further the trade of international banking and financial services practitioners. In support of this mission one component of the work to be pursued through the Company is the education of the young. The Company seeks to promote recruitment and development of the employees for the financial services industry with particular emphasis on those younger people in the immediate area of the City who would not normally be able to aspire to a City job. This will be achieved by providing vocational training for and assistance to the lesser privileged in finding relevant education and work in the City.

5. The Companies charity, The International Bankers Charitable Trust, holds registration No 1087630 with the Charity Commission.
 
 
 
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