CIC Association

Serving Community Enterprise

Does anyone have any knowledge regarding a reserves policy?

I appreciate 'reserves' is a charitable term and CIC's would use the term 'surplus' but we are a CIC Limited by Guarantee (not shares).  We classify ourselves as 'not for profit', any 'surplus' being used to deliver more activity for our disabled participants.  No Director takes payment.

We are wondering what would be considered appropriate reserves (surplus) bearing in mind charities might expect 3 - 6 months.

I can't find any policy recommendations for CIC's (Ltd by guarantee) related to this.

Thx

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