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Go Back   KOTR Forums > Initiatives > Suggestions/Ideas

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  #1  
Unread 04-01-2010, 12:36 PM
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shanja shanja is offline
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Condolences/ Emergency Relief Fund

It's a terrible truth, but accidents and even deaths DO happen within our hallowed circle of climbers. Sometimes it's whilst climbing, sometimes not. Anyways, I was thinking it would be nice to have a modest fund "in waiting" to pay for the sending of an official KOTR wreath etc in the event of a significant death/ injury etc. It need not specifically be a KOTR member, but rather as someone to whom we feel a significant bond, that metaphysical connection of shared empathy/ life. A world figure, a family mamber, a Korean climbing friend etc
I guess the Council could assess each claim on it's merits, but I doubt it'd be hard to figure out which cases were worthy, and hopefully this fund/ account would be called upon but rarely. A voluntary donation towards it's maintainence by members and a publicly viewable buget of finances therein is all I think we'd need (oh, and an account name, bank and number so people could donate easily whenever they saw fit). I dunno whether such accounts should be anonymous or donors made public...what thinkest you?
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  #2  
Unread 04-01-2010, 09:04 PM
bhylenski bhylenski is offline
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I've written something up for this, last week. And have been looking into legally how to go about setting this up. I don't believe anyone will disagree with this idea and it's one of many steps we need to take over the coming months. I'll update you more with what I find out next week. If anyone out there has any experience with this sorta legal entity here in Korea, please let us know. or refer your contacts to us.
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  #3  
Unread 04-02-2010, 12:11 AM
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I'd rather it stay localized. . . someone in the community, or a Korean climber who was well-known in the foreign community . . . the examples you gave in the other post are excellent. . . overextending this though is a waste. . . to send condolences to someone we didn't know who didn't know us?

Setting up a non-profit in the USA was hell! My neighbor here is a lawyer, though. . . he knows a bit about Korean law and I could ask him. . .
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Unread 04-02-2010, 02:25 PM
bhylenski bhylenski is offline
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Check it out

Hey Sonia,

Please see what your neighbor says. Because we're talking about an account that will more then likely have less then 3-5 million won in it. Most of the folks I have spoken with said it would be easier to manage and because of it's small size not be taxed, if we simply setup a personal account. I'm not sure how legal that is, so I'm looking into that as well.

I'm sure we'll get lots of opinions, but I'd love to sit down with someone, like a business lawyer, who can give us the "legal truth."

Any suggestions?
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Unread 04-03-2010, 01:43 AM
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Darren is a lawyer from the USA, but he was full of legal advice during our faculty meeting Thurs. . . he seems to have taken an interest in Korean law. Also, I juast picked up a Korea Times in Busan where they announced most Korean law now being available in English. . . but I'll talk to Darren. . .
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Unread 04-09-2010, 04:37 PM
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i believe it's possible to transfer money to an account with a message/purpose specified (which could be a statement of purpose). perhaps we could give out the account number and then, if a situation is brought up that people may wish to donate for, they simply choose which cause to contribute to as they transfer their money...i'll have to see if this is available through all korean (or other) banks and find more details about how it can be done. does anyone else out there know anything about this?
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Unread 04-09-2010, 05:14 PM
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Not sure. . .

and I just had lunch with Darren and forgot to mention about setting up the non-profit! Anyway, of course donations for a certain "initiative" could be tracked by the treasurer or whomever. . . if someone wanted to earmark funds, they could always send an e-mail and we could post a transparent list of donations. (I was treasurer of the English Graduate Organization at Duquesne!!).

I also had a registered non-profit (importing) in the USA. . . and I never never never never never want to go through anything like setting that up again. Forget having good intentions or whatever, I was advised not to bother with the legalities by our people abroad! Registering in Korea could not be worse, possibly easier. Hopefully easier. This would be another reason to get more Koreans on board. Might be interesting to ask Joe Park any legal questions as he's finishing law school, but is very Korean and very American.
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  #8  
Unread 04-09-2010, 10:20 PM
bhylenski bhylenski is offline
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I've spoken with a few folks, who have looked into some banking options. Until KOTR earns a non-profit status...the korean equivalent, then there is no point into looking into the banking options, they are basically the same anyway. Tax implications for now, will be minute at best, since the amounts were talking about are so low.

At this point, I believe our best option is to open what's called a "multi-owner" account. That way one person is not solely responsible for managing the account (meaning if I go away, someone else can make withdrawals and have access to everything and vice versa for others managing the acct.), nor could one person run off with the funds. We would just need to agree who would be on the acct. We can discuss offline.

I will set up a web page, via paypal for donations (possibly thru KOTR, but if Eric's busy, I'll setup a third party option, until we can integrate.) All Donations will be posted immediately, withdraws will be posted as well. There are a few minor details to work out concerning withdraws/bank transfers, but that can be done offline. Does anyone have any concerns or reasons why we should not proceed with this?

My plan was to ask for simple donations at the M&G this weekend, this would act as our first official deposit, whether it's a Man won or Sip Man won, once the account is setup we'll be ready financially. A ton of members would be around to witness and help count and collect all donations. Anonymous donations are welcome and will be posted as such, as well as all donations will have the option to select Anonymous

Thoughts?
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  #9  
Unread 04-10-2010, 03:16 PM
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Cool I like this idea. It's simple and as long as people can opt in/ out of anonymous donations and that no one person can leg it with the donated funds, then yeah I think this kind of set up is totally adequate for KOTR needs. Thanks to all who have commented etc
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