I’ve had an email from AccountAbility about this previous post yesterday.
AccountAbility sent me a letter they have put out to stakeholders. Here’s a copy of it.
AccountAbility, in the note to me, say that the firm is indeed still a not-for-profit company limited by guarantee.
But they also, disingenuously, suggested that my post is about the resignation of the standards board. It is not.
My question is a much more fundamental one: Who owns the assets, and who will profit from them, and how.
I sent the following questions in response and will post any answers I get:
1) What is your strategic plan for the organisation? To be a not for profit US-based and led consultancy? In which case, could I ask how the directors are paid, will the profits be paid to them, for example? Or used for another purpose? Will the directors take salaries much higher than in the past? ( I know of some ‘not for profit’ groups where all the profits are simply paid as high salaries to a few directors to retain that status, hence my question)
2) Who now owns the organisation? Ie who are the shareholders? And who are the actual legal directors? And how did they come to ‘own’ a not-for-profit company having not set it up themselves? Was it purchased? If so, can we know from whom, and when?
3) As a not for profit limited by guarantee, what kind of public reporting and accounting will be offered to interested parties?
More soon, I hope.