VEMEX registered public investment.
Investment published on: 2011-02-06 18:15:00.
Investment name: Vahrokh’s Ethical Fund of Funds
NEISIN code: MRVAHFTFF016.
Official discussion: link to EvE forum investment prospectus.
Public Investments Archive for this investment: backlink.
Official audit: N.A.
Public Audits Records for this investment’s audit: N.A.
Type: Fund of funds.
Issued by: Vahrokh Financial Technologies [VAHFT].
Managed by: Vahrokh’s Emergencies Relief Trust [VAERT].
Archived by: Vaerah Vahrokha.
MRVAHFTFF016 Vahrokh’s Ethical Fund of Funds
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Abudman X – Moon 10 – Urban Management Bureau Office
Establishment of Special Donation Fund
on the 2nd January YC 113
In accordance with the motion pertaining to the possibility of creating a charity fund to help CCP hf in their emergency relief initiatives, on the 2nd January YC 113, Vahrokh Financial Technologies [VAHFT] (herein after referred to as “VAHFT”) in conjunction with Vahrokh’s Emergencies Relief Trust [VAERT] (herein after referred to as “VAERT”) and in collaboration with Vahr0kh’s EvE Mercantile Exchange [VEMEX] is forming a Special Donation Fund (herein after referred to as “Vahrokh’s Ethical Fund of Funds”, NEISIN code MRVAHFTFF016).
Statement of Purpose:
The purpose of the Special Donation Fund is to facilitate the collection of monetary donations from individuals and groups within the community, specifically to be utilized, in accordance with the motion mentioned above, to accrue capital for future CCP hf emergency relief campaigns. This Special Donation Fund is intended to be a perpetual, long-term vehicle to facilitate the collection and distribution of these funds.
Special Accounts:
VAERT has established two separate accounts, with VAHFT.
For anonymous donations, it’s possible to address them to:
Vahrokh Financial Technologies
with clause:
MRVAHFTFF016 P01=0 Charity donation
For public donations, it’s possible to address them to:
Vahrokh Financial Technologies
with clause:
MRVAHFTFF016 P01=1 Charity donation
Custodian:
The Board of Directors of VAHFT has entrusted a custodian charity corporation to administer the Special Account and to actively participate fundraising for this Special Donation Fund. The custodian corporation is Vahrokh’s Emergencies Relief Trust [VAERT]. The custodian corporation initially consists of and individual:
Ishkahunta – CEO, President and CFO.
Additional participants other organizations will eventually form a Board of Directors and designate Officers. Board of Directors and Officers can be active in the effort, as directed by the CEO, however for purposes of this Special Donation Fund the member listed above retains management and control of the effort and the Special Donation Fund.
Donors:
Donors to this Special Donation Fund may be any individual, group, corporations or other legal entity. VAERT reserves the right to decline donations, at its sole discretion, if it feels that the individual or entity offering the donation maintains guiding principles which conflict with those supported by them.
Donations:
Only donations specified by the Donors as being for the Special Donation Fund can be deposited into the Special Donation Fund account.
Interest Income:
Any interest income or plusvalence generated in the Special Donation Fund account is the property of VAERT and may be withdrawn at any time from the account for the benefit of CCP hf and utilized in accordance with its charter. The reason that the interest or plusvalence will remain the property of VAERT is to off-set expenses that the charity may incur directly due to fundraising activities and events for this Special Donation Fund. VAERT may ultimately decide to keep the interest or plusvalence in the Special Donation Fund or use the interest to cover these kinds of expenses.
Distribution:
Funds directed to the Special Donation Fund, with the exception of interest income as specified above, can only be distributed:
- To CCP hf; in the event of an emergency that prompts them to start a relief campaign.
- As a refund back to each individual donor in an amount not to exceed each individual donors contribution(s) to the Special Donation Fund. Refunds will only be issued for each donation of 10M (ten million) ISK or more to the Special Donation Fund.
- To Directors and Officers who will not waive their wage to the Fund.
- To pay rental fees.
Why would there be a refund:
The Special Donation Fund will only be refunded back to each individual donor as outlined above if they mistakenly sent a wrong or excessive amount to the accounts specified above.
Transparency Requirement:
In order for the Special Donation Fund to be distributed to CCP hf as outlined above the appointed CFO must provide or must have provided the Board of Directors with detailed accounting about the acquired tangible and financial assets. Additional reports will be produced pursuant to VAERT’s Articles of Incorporation and Bylaws.
Collaboration:
Where not specifically barred by Minmatar Republic Laws, VAERT will collaborate (*) with third party organizations willing to join the charity initiatives as sister corporations (*). Sister corporations are organizations of whatever kind deciding to manage a sister fund by themselves (*). VAERT will coordinate their efforts and periodically publish an aggregate of their NAV (*).
(*) pursuant to VAERT’s Articles of Incorporation and Bylaws.
Making a Donation:
There are a number of ways to make a donation to this Special Donation Fund:
- Deposit or file cash (ISK is the only accepted currency) to Vahrokh Financial Technologies, in the special accounts listed above.
- Contract assets of 10M (ten millions) or above in value to:
Vahrokh’s Emergencies Relief Trust (not to Vahrokh Financial Technologies).
Any high security system will do, though main trade hubs are preferred. - Aggregate funds of whatsoever origin will send their contribution as they feel fit. Vahrokh corporations will perform at their best to produce a monthly donation.
- Collaborating sister corporations or funds don’t need to send anything except a monthly sister fund NAV statement, inclusive of physical and financial assets.
- It’s possible to perform a special secured form of donation. A Trusted Third Party Service would hold donated capital and assets and basically act as a sister organization. VAERT will only act as accountant. Unlike for sister organizations, VAERT will consider this form of donation as part of its NAV. This form of donation spreads the risk of loss over multiple entities. The donor is responsible for the Third Party Service fees. Donor and the Third Party Service will produce and post on the EvE® Online forums a statement where the donation is formalized with the clause that, in case the donor stops paying the Third Party Service fee, the Third Party Service will promptly and fully transfer the donated assets to VAERT.
Exit strategies:
Due to the fund structure, heavy loss of capital should not happen. In case it’s due to negligence of any Vahrokh corporations CEO, VAHFT will proceed to full idemnification.
Secured donations and sister organizations / funds are pursuant to VAERT’s Articles of Incorporation Article X section (1). Therefore in case of CEO disappearance / inactivity / disablement it’s possible to proceed pursuant to VAERT’s Articles of Incorporation Article XII sections (1) and (2).
- In case of CEO disappearance / inactivity / disablement MRVAHFTFF016 assets will be lost.