Almost all social and environmental initiatives are desperately in need of no-strings-attached funding, and the Bellingen Fractal Economy Cooperative is trying to address that issue.
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The FEC has among its aims that these activities and organisations get as much funding as they need.
The FEC raises revenue by first inviting individuals and businesses to be registered as members.
Secondly, it applies a levy (3 per cent) on sales between members.
Finally, it distributes the money to not-for-profits by having its members vote on its allocation.
The cooperative believes that by creating a true economic community with these initial measures, it can lay the foundation for an economy which is “fair and sustainable, vibrant and productive, inclusive and participatory”.
The cooperative is holding regular monthly meetings on the first Tuesday of the month at the Bellingen Learning Alliance building behind the Ambulance Station in Bellingen at 6.30pm.
The next meeting of the Fractal Economy Cooperative will be held on November 5.
The meetings will help consolidate and inform members of the developmental stage of this new and exciting venture.
Given the potential for receiving gift funding, not-for-profits are especially urged to send representatives and members to our meeting. All are welcome. Contact Kevin Turner on 6655 0840 or email tkwturner@bigpond.
Among other things the cooperative is unique for the way it promises to raise a lot of communal revenue which is to be passed on as gift money to not-for-profit recipients.
Gavin Tang, the initial architect of the cooperative explains that if members give even a slight preference to buying from fellow members, then people and business with something to sell will not want to miss out on these potential sales.
“In other words, they will opt to become tax-paying members rather than lose out on potential sales to our members. That’s why our voluntary tax will not deter people from becoming members.”