Can housing society collect donations from outside parties to raise funds for cultural events?
Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 26 August 2023
If your hosing society is a Co-operative Society in Maharashtra the model byelaws have no provisions to raise funds through donations from outside paties.
sanjay tawade 26 August 2023
Thanks Sir. This suggestion came from one of the member of our siciety management committee. As per him we will collect donations and deposit into society's account which can be used later on for various cultural events.
If any more details available please share. Because we should know the consequences of this decision.
Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 29 August 2023
You complain to the registrar of co-op housing societies. He should give orders to the society to stop the collection. Who is to give the donation?
Whether a housing society can collect donations from outside parties to raise funds for cultural events depends on the laws of the country or state in which the housing society is located. In general, however, housing societies are allowed to collect donations from outside parties as long as they do so in a legal and ethical manner.
Here are some factors to consider when determining whether a housing society can collect donations from outside parties:
If a housing society violates any of these laws or regulations, it could be subject to legal action.
Notwithstanding the above, if at all your housing society is a cooperative society, then it would be governed by Cooperative Societies Act 2012. As such, it is imperative that Sec 30 and 31 of the said act must be known to all members of any housing society if at all it is a cooperative society.
Therefore, it is always better to check whether your housing society is a cooperative society ? If yes, then what do the rules and bylaws say in the matter of collecting donations from outside parties to raise funds for cultural events.
Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 09 September 2023
Of which State is Co-operative Societies Act, 2012?
sanjay tawade 13 September 2023
Another query- Can housing society open a bank sub account as *******Co operative housing society -Mandir to manage the other activities of Mandir which is in society premises?
Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 16 September 2023
No. Such an account cannot be opened. The Mandir can be outside the premises of the Society. An association of interested members can be formed and they can have a bank account.
Nasir Khan 06 October 2023
Yes, housing societies can collect donations from outside parties to raise funds for cultural events, but it's essential to adhere to legal and ethical guidelines. Here are some key considerations
Transparency: Clearly communicate the purpose of the donations, such as funding cultural events, and how the funds will be utilized.
Consent: Ensure that residents within the housing society are comfortable with soliciting donations from outside parties, as it may affect them in some way.
Legal Requirements: Comply with local laws and regulations governing fundraising and donations, including any permits or licenses required.
Accountability: Maintain transparent records of all donations received and expenses incurred, and be prepared to provide financial transparency to residents or relevant authorities if required.
Tax Implications: Be aware of any tax implications for both donors and the housing society, and communicate this information to all parties involved.
Ethical Considerations: Ensure that the fundraising activities align with the ethical values and guidelines of the housing society and do not compromise its reputation.
Ultimately, with proper planning, transparency, and adherence to legal and ethical standards, housing societies can successfully collect donations from outside parties to support cultural events and other community initiatives.