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Local Festival Query regarding Legal Entity

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  • 15-04-2010 11:42am
    #1
    PaddyKay
    Closed Accounts Posts: 15 ✭


    Hi, myself and some freinds organised a festival in the midlands last year. We are also organising something similar this year but making it a bit bigger. We are getting sponsors, and looking for grant aid. Problem is we probably need to be a legal entity to do this. Has anyone an experience or advice? do we have to set up as a charity, would a partnership arrangement suffice? what do others do?

    Thanks
    Tagged:


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    #2
    DoMyBooks
    Registered Users Posts: 355 ✭✭DoMyBooks


    Paddy,
    Often to get government funding you need to set up as a Private company limited by guarantee. The problem with registering that type of entity is that it cant avail of an audit exemption so increased running costs.

    Have a read
    http://en.wikipedia.org/wiki/Private_company_limited_by_guarantee

    If you've any more questions please free to ask.


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    #3
    Jim from Cork
    Registered Users Posts: 191 ✭✭Jim from Cork


    What sort of Festival is it?

    I help to organise an angling festival here in Cork. Years ago I spoke with a solicitor about the legal ramifications (Duty of care etc.).
    His advice was to set up a LTD. company to run the event. This was not really a runner for us as it would involve extra expense on what is an event organised by local volunteers. We got around it by running the event on behalf of a travel company (the company that arranges the travel for the majority of the anglers). Doing this fulfilled the need we had to protect the voluntary organisers – law of deepest pockets and all that!

    We secured some funding from Bord Failte for the event. There was no necessity to be a “legal entity”. BF do not just hand you a cheque but they pay our “suppliers” for us.

    Depending on your situation etc. a LTD company is probably a simple solution.
    HTH


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