| 1. |
Members are asked to support the aims and purposes of the
Guild through 2 distinct elements; a membership subscription
and a charitable donation. The subscription supports the
Guild's office and staff in the City of London. The charitable
donation supports the work of the Guild 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 Guild's 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 2003. |
|
| 2. |
At the time the Guild 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 - £500 per annum. |
| b. |
Members from overseas - £250 per annum. |
| c. |
Retired members - £250 per annum. |
| e. |
Associates - £250 per annum. |
| f. |
Student Associates - £25 per annum. |
| g. |
Student Associates (Graduates) - £50 per annum. |
|
|
| 3. |
The Guild's 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 2004, the subscription is 50% of the total sum,
ie
£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 Guild's charity. Many
members pay very substantial amounts in the Guild's charity
and also support the Guild's objectives by arranging for
the organizations they work with to provide additional support
through providing work placements and opportunities. |
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| 4. |
Although it must be emphasized that the charitable donation
is voluntary, the very ethos of Guild 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 Guild. The following encapsulates
the history and spirit of these goals:
When Guilds 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 guilds have had a
history of supporting worthwhile causes in many ways.
One of the main objectives of the Guild 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 Guild is the education of the young. The Guild 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. |
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| 5. |
The Guild's charity, The International Bankers Charitable
Trust, holds registration No 1087630 with the Charity Commission. |