The Surf Coast Football Club Inc. has not had a successful season and the committee considers that a more professional outlook is needed as well as some more talented players! Community fundraising and local sponsorship results in a sum of $100 000 which they intend to spend in the following manner:

(i) Wages for a part-time membership and marketing officer

(ii) Ten incentive and achievement prizes for the players when they achieve certain outcomes whilst playing

(iii) New uniforms and equipment

(iv) Payment to guest specialist coaches, two of which are members of the club

(v) A $150 thank you payment to all members of the club.

Is the club entitled to spend the funds as suggested? Give reasons for your answers.