Is this really ‘Making a profit from common property’?
The collection bin is on the common property but what goes into it is the waste containers of individual residents, which is not common property. Someone living on site (who only coincidentally happens to be a committee member) takes those containers for recycling and makes a donation to a charity on behalf of the neighbours who placed containers in the bin.
I think that is just a group of neighbours engaging in a cooperative activity. It is not an Owners Corporation function so I don’t think the funds have to pass through the OC accounts.