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Posted September 08, 2020 23:52 · last edited September 09, 2020 00:04

Of course at the end of the day he is running a business. Without kids (and their parents) signing up to Ole there is no business.

Ole is a charitable trust.

Excuse my ignorance but what does that mean?

I assume Declan and the other staff are still paid. But there would just be no performance bonuses paid for example?

Works differently to a company structure, where directors are paid director's fees and/or receive share of the profits?

Employees like Declan are just paid a flat wage, regardless of how many students enrol at Ole?

And the students (or their parents) have to pay to enter Ole? It's not free?

Does the trust receive, any transfer fee I wonder by way of Western Suburbs, when an Ole grad signs for an overseas club?

2 versions

Unknown editor edited September 09, 2020 00:04

zonknz wrote:

coochiee wrote:

Of course at the end of the day he is running a business. Without kids (and their parents) signing up to Ole there is no business.

Ole is a charitable trust.

Excuse my ignorance but what does that mean?

I assume Declan and the other staff are still paid. But there would just be no performance bonuses paid for example?

Works differently to a company structure, where directors are paid director's fees and/or receive share of the profits?

Employees like Declan are just paid a flat wage, regardless of how many students enrol at Ole?

And the students (or their parents) have to pay to enter Ole? It's not free?

Does the trust receive, any transfer fee I wonder by way of Western Suburbs, when a Ole grad sign for an overseas club?

Unknown editor edited September 08, 2020 23:57

zonknz wrote:

coochiee wrote:

Of course at the end of the day he is running a business. Without kids (and their parents) signing up to Ole there is no business.

Ole is a charitable trust.

Excuse my ignorance but what does that mean?

I assume Declan and the other staff are still paid. But there would just be no performance bonuses paid for example?

Works differently to a company structure, where directors are paid director's fees and/or receive share of the profits?

Employees like Declan are just paid a flat wage, regardless of how many students enrol at Ole?

And the students (or their parents) have to pay to enter Ole? It's not free?