I'm setting up a creative business and want to structure it so that a portion of our profits sit in a special fund we use to create our own stories in prose, theatre and video. Currently I own a pty ltd company, and two creatives are keen to work with me on a freelance capacity, and I'll set aside 50% of the profit from jobs we do through the company, putting that into a story fund. What's the best way to structure this fund's usage, particularly when someone decides to leave the arrangement?

Hi Simon,

It sounds like there are a few avenues to explore here, one being a not-for-profit entity or association to be set up, or potentially, it can just be a separate bank account set up, with the funds in that particular account being solely used for the special purpose.

This would ultimately depend on which direction you are thinking of taking it and whether the other creatives need to be involved in terms of authority or ownership.

If you need to discuss this further, please do not hesitate to contact our office. We work with many creatives and each have their own purpose and drive, and our clients have set up similar structures.

Kind regards,
Jenny Thai
JTR & Associates
02 9144 3180
www.jtrandassoc.com.au