CIC Association

Serving Community Enterprise

Hi,

Has anyone on here converted from a charitable company to a CIC? I know this is possible, with the consent of the Charity Commission but was wondering whether anyone had actually been through the process?

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Comment by Katherine Armstrong on October 12, 2011 at 16:18
Thanks for this John. The issue we have is that once we have converted, our assets would still remain charitable and could not therefore be used for non-charitable purposes. We want to expand into areas which, although benefiting the community, might not necessarily fall within our charitable objects and converting to a CIC might be an option if we were to be able to raise finance that could be used for non-charitable purposes. I would be interested to hear from anyone who has been through the conversion process to discuss how that impacted on their charitable assets.    
Comment by John Mulkerrin on October 12, 2011 at 15:55

Hi Katherine

Here is the main link to start at http://www.bis.gov.uk/cicregulator/forms-introduction/index/convert...

Have a good read through that and then let us know if you have any questions. There have been a number of conversions, the Regulator herself converted a loss making Charity into a profit making CIC before taking up her role

Generally it isnt a difficult process, but your Charity make have particular circumstances that could affect that.

John

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