Guest Contributor | Feb 22, 2024 | 0
Goodwill Society, Prosperity’s conscience
“We gave 10% of shareholding profit to the Society through an equity structure and now we can have the Society raise money not only as a shareholder but with the idea to start looking at members and how they can be assisted,” he added. Speaking about the route and target for the Society to flourish, Struwig said they started with a steering committee which they felt should be union and shop steward representatives of the various companies [for which Prosperity administrates the medical aid funds] since they have a connection with the work force, with the idea of getting close to the workers. “The Steering committee will hold office for [the interim] until we have our first Annual General Meeting next year, where members will elect their first full Board of Trustees,” he explained. On the distribution of funds allocated to the Goodwill Society, Struwig said that member representatives will nominate and appoint the Board of Trustees who will then act as a Management Committee.
In terms of the checks and balances to ensure the Society achieves its objectives he said the vehicle will always have income. He believes that the success of the Society is interlinked with Prosperity and will also be successful, just as the Prosperity Group.
Meanwhile if an organisation or individual wants assistance from the Society, Struwig said they will have to approach Prosperity, who will in turn forward it to the Goodwill Society after evaluation as they [the Society] will now be their face and conscience in terms of the projects for social responsibility.
He said that every member that belongs to any products of the Prosperity Group indirectly contributes to the Society.
“The funds exist out of the members but it does not mean the medical schemes will become more expensive,” he clarified. Struwig said the Prosperity Group will not only be the main “donor” to the Goodwill Society but that the Group would further subsidise it with administrative resources, management expertise and governance capacity.