CIC Association

Serving Community Enterprise

I've heard that funding for CICs is more difficult to attract than for charities (registered or otherwise). At a recent funding fair two stall holders would not touch CICs. As I'm thinking of turning an unregistered charity into a CIC, this weighs against a CIC. The alternative is to register the charity with the Charity Commission and then form a CIC to help support it. Comments welcome to help with a difficult decision.

Views: 575

Add a Comment

You need to be a member of CIC Association to add comments!

Join CIC Association

Comment by John Mulkerrin on January 16, 2012 at 14:40

Hi John

Now I have to be honest, those two stall holders could be complete idiots, just as the odd idiot tells everyone that CIC is a magic wand that will pave the streets with gold! 

It very much depends on the particulars, what are you raising money for? Do you need donations (Charity) Grants (CLG CIC and Charity) or Loans (any of the above). 

If you put up a detailed list of the circumstances I'll give you a more detailed opinion. Your alternative could work, you could also easily convert a CIC CLG into a Charity at a later stage (or vice versa)

Do you have an example of where you can get funding for a Charity that wont funds CICs? Thats becoming less of an issue than it was in the early days as funding organisations get to know more about CIC and which ones may fit their funding guidelines.  Any specific examples would be appreciated so we can follow them up centrally.

Charities do get tax breaks and reliefs that CICs dont, but that is often offset when compared against the flexibility of trading,the ability to pay the board and the potentially simpler leadership satructure.

This type of discussion is always good to debate online so please do post a more detailed set of information for members to comment on, im also happy to talk on the phone 0203 262 3044.

John 

Groups

From Funding Central

Events

© 2017   Created by John Mulkerrin.   Powered by

Badges  |  Report an Issue  |  Terms of Service