CIC Association

Serving Community Enterprise

Hello,

We are a social enterprise and our legal structure is set up as a company limited by shares with ourselves (myself and my partner) as shareholders and directors. Having traded for a year now - we have identified that we are indeed a Community Interest Company and are looking into applying to the Regulator to transfer.

We would like to be able to access grant funding to pay for various projects where young people can come on our Forest Schools Programmes. We have been advised that grant awarding bodies will look more favourably at us if we are an official cic or charity - however, we have rather an entrepreneurial spirit and don`t want to become a charity.

My question, with regards to being a cic - will our company limited by shares, be recognised equally with a company limited by guarantee when it comes to grant applications and if not, what will be the difference???

Not too ofay with the ins and outs of company legal structures and our local accountants can`t help us either as they don`t know about CIC`s!!!! (Yet!)

Any thoughts would be much appreciated.

Clair & Scott

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If you go for CIC status it shouldn't make any difference as the social-good angle is covered and profit extraction reguylated, but perhaps people have experience they can share.
looking at the research that the CIC regulator published on CICs accessing grant funding as part of their annual report recently it seems that grant making bodies will consider you as a CIC only on the basis that you don't have any share capital;

so you'd best restructure as Guarantee if its grants you're chasing - but interestingly, I've supported some groups who are companies ltd by guarnatee only (no CIC or charity status) succesfully apply to some noticable pots of grants...
which pots are these Adrian? would be good to have this info
cheers
hi John

well - there are actually quite a few:

* various lottery programmes,
* Europeam Social, and Regional Development Fund programmes,
* most local area community funds,
* unltd awards,
* esmee fairbairn foundation,
* quite a few of the 4500 grant making trusts,

...the list is extremely extensive and if I listed all would take me a few weeks!


however - they will fund projects, not organisations - so you need to be clear what the activity will be as a defined project rather than an ongoing service or activity.

local CVS' should have funding officers who you can approach for support with identifying appropriate grant making bodies, as well as various people like me who also support groups with raising finance.


hope that's helpful.
thx, im actually an Unltd award winner myself, they're a great foundation but the competition for funds is always very string. What do you think of the conservative plans to restrict awards to charities within the four original objectives?
thats big lottery awards, sorry

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