5th September 2008, 02:56 PM
'If there is surplus it should be used for other archaeological related projects such as publicy/archaeological research.'
Earlier in this thread Redearth asked what happens to profits made by charities. When I worked for an archaeological unit that was also a registered charity, profits were known as 'operational surpluses' and were ploughed back into the unit. The money was used for training and also to support non-chargeable personnel such as outreach officers.
What is different about the units that operate as charities is that there are no directors, shareholders etc to take a cut of profits - all surpluses can be used directly by the organisation or banked to cover potential losses in future years, although the Charities Commission will take a dim view if cash reserves are very high and there is little evidence of activities that give rise to charitable status.
Beamo
Earlier in this thread Redearth asked what happens to profits made by charities. When I worked for an archaeological unit that was also a registered charity, profits were known as 'operational surpluses' and were ploughed back into the unit. The money was used for training and also to support non-chargeable personnel such as outreach officers.
What is different about the units that operate as charities is that there are no directors, shareholders etc to take a cut of profits - all surpluses can be used directly by the organisation or banked to cover potential losses in future years, although the Charities Commission will take a dim view if cash reserves are very high and there is little evidence of activities that give rise to charitable status.
Beamo