Frequently Asked Questions
What is a Supporters Trust?
A Supporters’ Trust is a democratic, not-for-profit organisation of supporters. It’s committed to strengthening the voice for supporters in the decision-making process at a club and strengthening the links between the club and the community it serves.
Is the Trust a charity?
No. Supporters’ Trusts are not charities and whilst they contain the word ‘Trust’ they do not follow the legal definition of a ‘Trust’.
Supporters’ Trusts are constituted as Community Benefit Societies (CBS), a form of Co-operative that operates under a one-member one-vote principle. CBSs are registered with the Financial Conduct Authority (FCA), and any changes to the rules must be approved by the members and only become effective once the FCA has agreed them, checking they are in keeping with the spirit of the organisation.
The members own all assets and liabilities collectively. Under FCA rules the Trust must remain solvent if it is to continue to legally exist. Any profit made is either kept as reserves or reinvested to meet its objects. It will never take the form of a dividend to members.
Who are Magpies Trust?
Magpies Trust was first set up in 2004. A group of Chorley supporters heard about Trevor Hemmings withdrawing funding for the local rugby club which subsequently folded and they didn't want the football club to go the same way.
By coming together and creating the Supporters Trust, we have managed to raise thousands of pounds towards various projects around the club to both enhance the matchday experience and also help ensuring a football club remains in the Chorley Borough.
Our main aims and objectives stay the same but each season we come up with three seasonable objectives.