IFColog ACDC is a new initiative designed to help groups in computational logic administer their finances.
1.1) The goal of the IFCoLog ACDC is to facilitate the cooperation of organisations in computational logic ─ which are members of IFCoLog ─ that wish to cooperate in the administration of their accounts and funds.
1.2) IFCoLog ACDC intends to take on the burden of continuous administration of funds on behalf of participating organisations.
1.3) It is intended that participating organisations benefit both from cooperation with each other, and the administrative services of IFCoLog, but also from the status of IFCoLog as a registered charity. Since IFCoLog is a charity, donations to it are tax free, pay units can be made in the name of a charity which has more fiscal advantages.
1.4) To participate in IFCoLog ACDC, and benefit from all its accounting and administrative services, shall be free to all groups that are members of IFCoLog (membership of IFCoLog is also free, upon a supervised registration process).
2.1) IFCoLog ACDC shall possess charitable bank accounts, capable of receiving funds in Stirling, Euros and Dollars. These accounts shall be solely for holding and receiving money on behalf of participating organisations. The money held in these accounts remains under the ownership of the participating organisations.
2.2) Designated members of participating organisations may, at any time, request a financial report detailing the sums held by IFCoLog ACDC on their behalf.
2.3) Designated of participating organisations may, at any time, withdraw or transfer funds from the IFCoLog ACDC.
2.4) Donations made to IFCoLog ACDC in its capacity as a charity for computational logic, shall be distributed by IFCoLog ACDC to its participating organisations solely in accordance with the instructions of the donor.
2.5) If a participating organisation wishes to request financial support from other participating organisations, for example if it is temporarily low on funds, then IFCoLog ACDC shall make suitable confidential requests on their behalf. If two participating organisations agree to carry out an exchange of funds, IFCoLog ACDC shall administer it.
3.1) It is NOT within the scope of IFCoLog ACDC to decide how to manage or redistribute the finances of participating organisations.
3.2) It is NOT within the scope of IFCoLog ACDC to decide how incoming sponsorship and donations to IFCoLog are to be distributed among the participating organisations.
3.3) IFCoLog shall take a merely administrative role with regard to the finances of participating organisations, and shall not be responsible for the management and the source of a participating organisation’s funds.
4.1) IFCoLog ACDC shall maintain the utmost confidentiality and security of the private financial information of participating organisations in order to provide its administrative and accounting services and preserve the interests of participating organisations.Some Tags: distributed, Information, Management, Security, logic, services, computational logic