The Lawrence Pledge
Creating generational wealth
What is it?
Description
What is it?
The Family Fund is created to provide financial support for family-related needs, projects, and emergencies, while fostering unity and shared responsibility. It is designed to benefit all family members through collective contributions and decision-making.
It will take commitment from each family member to ensure that each endeavour is supported not only financially but via family networks and contacts to increase the chances of success.
Contributions and Commitment
– Participation in funding the Family Fund is voluntary
– Family members are encouraged to contribute according to their financial capacity but must contribute at least £10/$10 per month
– Contributions can be made on a monthly, quarterly, or annual basis, depending on each individual’s preference
– All contributions will be documented
– The progress of the fund will be shared with family members quarterly to ensure transparency
Fund Committee
– Formed of one representative from each family group (as chosen by the family group) who are active contributors to the fund
– Determines how the fund should be used including when it should be used and how much of the fund should be used
– Meets on a cadence to put forward proposal(s) for use of the fund from family members and/committee members
– Assess and prioritises the proposals by way of consensus or majority vote of the committee members
– Funding to be applied to selected proposal(s) is decided by way of consensus or majority vote of the committee members
Annual Lottery
– At a set point, a percentage of the contributions to the fund is put up for the family lottery
– Only active contributors to the fund quality for entrance to the lottery
– Winners of the lottery are selected at random via a set method agreed by the committee
– Winners are based on rotation and can win again
– Three prizes: first prize (50%), second prize (30%), third prize (20%
Next Steps
Each family group must choose their representative for the committee. The chosen committee members must meet and decide on how contributions will be paid and who will be members of the sub-committee
We are a passionate team dedicated to delivering exceptional results. With a focus on innovation and excellence, we are committed to helping you achieve your goals and dreams.
Nominations to be submitted by 10-January-2025 to [email protected]