Hello my name is Alex and I am setting up a CIC with my unincorporated organization IC Visual Lab. Our remit is to support the development of photographic practice – across all approaches and with all audiences – in order to open up the medium to as wide an audience as possible. From screenings, seminar based events and exhibitions, to exploring opportunities for social and community activism, that empowers traditionally disenfranchised groups; we will use photography as an instrument of integration, self discovery and community building.
At this stage, I am still filling the CIC forms (IN01 and CIC36) and the constitution (articles and memorandum) for a Private limited by guarantee. I would like to ask you for some advices on the following questions:
- Section A1
• The proposed company name’s ending has to be limited or ltd. Could it be CIC?
• Have we got to fill the ‘‘for official use’’ field?
- Section D1
As far as I concerned, a CIC limited by guarantee means that all the members subscribed are directors and vice versa.
• Do we need to include more than one director in the form?
• In the form, there is just space for two director appointments. As we are 3 members where should we include the third one?
I read in this forum that it is much better have more directors in terms of getting funding, is that true? Which are the real benefits of that? What happen if we just put one director?
- Section 243 exemption
In the meantime our organization is applying for some funding. We are going to send the CIC application before we apply for the funding. Also, each member is applying for a different grant so my questions are:
- Shall we tick this box if we haven’t apply yet? We might get the funding during the CIC registration process, should it be a problem?
- Do we have to tick each Section 243 box if we all apply for funding?
The cheque (£35 fee) can come from other person who is not part of the organization. The actual members haven’t got cheque book yet.
I really appreciate all the suggestion and advices you can give me with this form as I have been told more than the 70% of the people fail due to a silly mistakes.
Thank you very much and I will support anyone who are thinking to set up a similar company than ours.