Minimum Monthly Contribution
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The 711 Investment Club requires a fixed monthly dues payment from each member of $75.00, no more, no less. That said, some members pay the $75 every month, some pay it all at once, and some follow other payment schedules. All roads lead to a total dues payment of $900.00 per calendar year.
On Tue, Jul 23, 2013 at 11:09 AM, Laurie Frederiksen <laurie@bivio.biz> wrote: Hi All, We have a minimum of $25. We have 16 members and about 4 do $100/month, a few do $50/month and the rest does $25. Some members have joined with a large amount (like $2,000) and we have had some that make large payments ($1,000+) every once and a while. Its their money and their choice so we don't care what they contribute. We have the $25 minimum because when we started we had some members, and still due, that are struggling financially and would of never started to invest on their own. John Rice ABODI Investment Club From: Laurie Frederiksen <laurie@bivio.biz> To: club_cafe@bivio.com Sent: Tuesday, July 23, 2013 11:55 AM Subject: Re: [club_cafe] Re: [I] Re: [club_cafe] Minimum Monthly Contribution You guys are the best. Thank you for the feedback. I'm sure the club will appreciate the input. As a followup, do you have any thoughts to share on why you've established the minimum contribution amounts you've chosen? Is it affordability, number of members in your club, minimum amount you'd like to invest as a club each month or something else? Thanks again in advance for any input. Laurie Frederiksen
Invest with your friends! http://www.bivio.com/ Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe The Yankee Chapter Model Club is currently down to 3 members. We decided to contribute $200/month in order to have a minimum of $500 to invest. As a model club we are looking for members of the public to observe and possibly join (after a training period and voted in). If they join, it is for a finite time unless they become a director. New members do not have to contribute $200/month, the current members can decide on the minimum required since we are actively seeking more members. We do use a one member, one vote system and it has not been an issue so far. The operating procedure can always be revised if it became an issue. The club meets online the second Sat of the month 11:30 EDT. If you are interested in attending let me know and I will send an email invitation to the Webinar. Ira Haas From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Laurie Frederiksen You guys are the best. Thank you for the feedback. I'm sure the club will appreciate the input. Laurie Frederiksen We do $300 a month Members of our club contributes 50 dollars a month. We collect the amount twice a year (300 dollars ) in June and December from the members. This has worked for our club better than having the checks come every month. Geetha Luckshmy Investment Club On Tue, Jul 23, 2013 at 11:09 AM, Laurie Frederiksen <laurie@bivio.biz> wrote: Hi All, so, please explain. If one member can not own
more than a certain percentage, what happens when that person has been a member
longer than most of the others? For an example, I am a charter member of
WIN, but we have had a lot of joins and quits over the years, so my percentage
is 26% which is considerable more than the others. One as low as 1% because she
just joined in January.
Thanks
I believe this method of contributing whatever you like can cause problems. The bivio PA template says under capital contributions that no partner may own more than 2.0 times the percentage of the club that he/she represents to the number of members. I recall seeing a warning either from bivio support or club cafe that no member can own more than a certain percentage of the club assets for legal reasons.
From: John Rice <rice.j1969@att.net> To: "club_cafe@bivio.com" <club_cafe@bivio.com> Sent: Tuesday, July 23, 2013 12:29 PM Subject: Re: [club_cafe] Re: [I] Re: [club_cafe] Minimum Monthly Contribution We have a minimum of $25. We have 16 members and about 4 do $100/month, a few do $50/month and the rest does $25. Some members have joined with a large amount (like $2,000) and we have had some that make large payments ($1,000+) every once and a while. Its their money and their choice so we don't care what they contribute. We have the $25 minimum because when we started we had some members, and still due, that are struggling financially and would of never started to invest on their own. John Rice ABODI Investment Club From: Laurie Frederiksen <laurie@bivio.biz> To: club_cafe@bivio.com Sent: Tuesday, July 23, 2013 11:55 AM Subject: Re: [club_cafe] Re: [I] Re: [club_cafe] Minimum Monthly Contribution You guys are the best. Thank you for the feedback. I'm sure the club will appreciate the input. As a followup, do you have any thoughts to share on why you've established the minimum contribution amounts you've chosen? Is it affordability, number of members in your club, minimum amount you'd like to invest as a club each month or something else? Thanks again in advance for any input. Laurie Frederiksen
Invest with your friends! http://www.bivio.com/ Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe I think it's a non-issue today. Percentage caps were included in the long standing NAIC Sample Club Bylaws and have been perpetuated ever since. As long as your members have one vote per person, the percentage of ownership doesn't come into play. Why force a member to withhold dues or limit the amount they contribute? In all the club visits I've made over the years, and all the disputes I've mediated, I've never once heard of issues over someone owning too much of the club.
Even if a large percentage member leaves the club, it's all about the percent return, not how much money the club has in the coffers. Lynn Ostrem Crow River Investment Club
Just because the Bivio partnership agreement (PA) template says something doesn't make it written in stone. When my club formed, our PA limited each partner to owning no more than 20% of the value of the club. As we lost partners over the years, we realized that there might come a time when we would be down to five partners, and each would have to own exactly 20% of the club. If we lost another partner, then the PA simply would not be workable at all. Because of this, we removed the limit from our PA a few years ago. Now my club is down to two partners. I own approximately 66% of the club and the other partner owns the remainder. Removing the limit has caused no problems at all for us. Quite the contrary, in fact. It solved a potentially insurmountable problem. By the way, we require a $50 minimum monthly contribution because we want it to be small enough that nearly anyone can afford it, yet it discourages those who are not serious from joining the club. We want only serious investors in our club. Partners must participate and perform the work required. By the way, if anyone in the Phoenix, AZ area is looking for a club to join, please let me know. The sample bivio partnership agreement only gives you an option for wording if you'd like to keep any one member from owning a significantly larger share of the club than other members. As further discussed on the explanation page: https://www.bivio.com/site-help/bp/Partnership_Capital_Contributions_Considerations this may be more related to the method you choose to make decisions than anything else. it is certainly fine for you to allow members to own whatever percentage you all agree on and are comfortable with. bivio can handle it fine. Laurie Frederiksen
Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe In the past, the wording in our agreement stated no one member could own
more than 20% of the total shares.
This did not seem to present an issue until 2 members had to resign due to
relocating out of state . This was in a 2-month period of time and they
were long-time members.
After the buy-out, it took several months of dues-paying by the remaining
members to put it in a situation where the one member could once again pay dues
on a monthly basis.
While no one really expects things like this to
happen, it is wise to know what has happened to others so you can prepare for
this option and how you feel it would best work for you.
Myrelle
From: Laurie Frederiksen
Sent: Monday, July 29, 2013 6:50 AM
Subject: Re: [club_cafe] Re: Minimum Monthly
Contribution The
sample bivio partnership agreement only gives you an option for wording if you'd
like to keep any one member from owning a significantly larger share of the club
than other members. As further discussed on the explanation
page: https://www.bivio.com/site-help/bp/Partnership_Capital_Contributions_Considerations this may be more related to the method you choose to make decisions than anything else. it is certainly fine for you to allow members to own whatever percentage you all agree on and are comfortable with. bivio can handle it fine. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe |
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