Friday, 5 September 2014

MUSAC Ltd A Registered Charitable Entity

MUSAC Ltd is now officially a registered charitable entity (Registration Number CC50905). To be eligible, our constitution needed to meet a number of criteria, but in practice it means that profits do not, and can not, go to individuals (in our case they are reinvested for educational purposes). There are some compliance requirements and a number of benefits. A couple of examples of charitable entities in the education space in New Zealand are Core Education and Virtual Learning Network.

We still have salaries (staff are not volunteers), IT costs, power bills, lots of sponsorship, support, etc so that means we need to sell product and services to make a surplus and operate efficiently as a business and reinvest to build and grow more products and services.

From a school perspective, you can be assured that every dollar paid to MUSAC is headed directly for either improvements to products and services or educational outcomes, not personal gain.

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