Common Weal is constituted as a Company Limited by Guarantee. This means that it does not have shares and that it is owned by members, whose individual liability is limited to £1. It is registered at Companies House (Company Number SC483485) and has to follow all the rules for a registered company. The governing document of Common Weal is its Memorandum and Articles of Association.
The members (also sometimes referred to in a Common Weal context as our Board Advisors) meet at least once a year (usually more often) and elect a Board of Directors who are responsible to the membership for the day to day operation of Common Weal. The Board then selects co-Chairs (or co-Convenors) to manage the Board.
The vision for Common Weal and the election of the Board is reviewed and approved at an Annual General Meeting.
Individuals can apply to become members of Common Weal by completing an application form that goes to the Board for approval. The Board reserves the right to limit the number of members to allow for full participation and can decline membership applications without stating a reason. To be successful, members are expected to have demonstrated interest and expertise in two or more of the following areas: social and economic equality, participative democracy, environmental sustainability, wellbeing, quality of life, peace and justice.
Common Weal is governed by legislation as a company limited by guarantee and submits its accounts annually to Companies House.
As a small company, we file abbreviated accounts but supporters might like to know our income for the last three years, which has been affected firstly by Covid and now by the cost of living crisis meaning many donors have had to cancel their £5 or £10 monthly donation. We want to thank them very much for all the help they gave while they were able: donations enable our work which wouldn’t be possible without them.
Note that Common Weal’s income comes entirely from small monthly donations (average £10) and from our events, street stalls and online shop. Our largest donor gives less than £5,000 per year and we do not accept advertising on our website or other communications.
Other funding in the financial year 2022-23 includes a grant award of £6,800 from the Scottish independence Foundation and our Sorted crowdfunder that raised a total of £14,965 from 400 supporters in 28 days.
Many and sincere thanks to everyone who has helped us with their support and donations.