Community Interest Company (CIC)

gaia1971

Just wondering if anyone here has started their own CIC - would love to chat if so. We have looked at going down the charity route previously but not sure it's quite the right fit for us and wondered whether the CIC route would be more appropriate.

My concern is that financial doners may be less inclined to donate due to lack of tax savings that they would get if we formed as a charity.

Are there any CIC's on here that have managed to secure funding?

Pennywise

Have you thought about having 2 entities - a registered charity for donation income, which then "donates" money to a limited company (limited by guarantee) to do the actual running of the organisation. Best of both worlds, having a money raising entity and an operational entity.

antrobus

gaia1971 wrote: »

Just wondering if anyone here has started their own CIC - would love to chat if so. We have looked at going down the charity route previously but not sure it's quite the right fit for us and wondered whether the CIC route would be more appropriate.

My concern is that financial doners may be less inclined to donate due to lack of tax savings that they would get if we formed as a charity.

Are there any CIC's on here that have managed to secure funding?

What is it you want to do?

There are certain hoops you need to jump through to set up a CIC.
https://www.gov.uk/government/organisations/office-of-the-regulator-of-community-interest-companies

I know, for example, that my local community health service is delivered by a CIC. Their 'funding', or as some might say 'income' comes from contracts with the NHS and local authorities.

There are alternatives.

https://www.gov.uk/set-up-a-social-enterprise