I am doing some research on the feasibility of setting up a new CIC that will be offering Sport and Recreation to economically disadvantaged young people 5 - 18 intitially across the South West and then nationally. Can anyone advise me as to which trusts, funders etc Big Lottery are prepared to fund CICs in this respect and/or forward any relevant links.
Hope you can help?
If your want Grants, ensure you are a CIC CLG (This will allow you access to most traditional foundations) If you want to offer a blended return to an investor which includes some financial benefit on top of the social outcome, look at the CIC CLS.
For example, Big Lottery are happy to work with CIC CLG's, but not with CIC CLS.
CLG= Company Limited by Guarantee
CLS= Company Limited by Shares
I've been asking the same question; there doesn't seem to be one. I've adopted a new strategy; identify what you want, search for suitable funders and then ask the specific funder the question before putting pen to paper.
My 'fund me' argument focuses on the 65% asset-lock (so majority not-for-profit), a 'ring-fence' for their funding (so 100% spent on the project with 0% available for distribution) and the offer of an equal share to not-for-profits for investing.
Early days yet, but the funders I've approached whilst sympathetic were 'policy' bound - so no joy! If there's no light at the end of the tunnel very soon, I shall probably focus the CIC CLS on income generation/investment and set up a ChariCo or CIC CLG for grant work!
Probably the best way forward, having both strategies open to you makes sense.
CICs that are CLS have received funding from BLF though, but they were bespoke arrangements which are different from the general funds, progress though.