What is a CIC?
CIC stands for Community Interest Company. What on earth does that mean? It is a type of limited company but one where the aim is benefit the community rather than to make money for those running it. It is not a charity although there is a regulator who by law needs to see the year end accounts and the annual report. The annual report has to explain what Lily the Pink Ministries has done to benefit the communities that the legal documents say that it is going to do. These will both be made available on the regulator’s own web site so anyone can have a look at them.
The legal documents have to say who will benefit from the activities of the CIC. There are two groups mentioned. Firstly, anyone who can access the web site and understand English. Secondly, those living locally who need support to improve their emotional or mental wellbeing. That explains why those two lines of text have been included underneath the company name.
Before agreeing to register Lily the Pink Ministries CIC the regulator also wanted to see a list of ways that these communities could benefit. This is what they were sent.
1 Provide a Christian environment for online courses.
* Those who are subject experts will be given an additional opportunity to share their knowledge with others.
* Those who wish to study will have the opportunity to take the course of their choice.
2 Provide courses and support for those who wish to improve their mental or emotional wellbeing.
* An example of the courses that will be offered is Think Right which mixes ideas form scientific research, biblical teaching and practical experience to help people reconsider the way they think about situations and people.
* It is highly likely that clients will have a variety of practical needs. Ways will be found to help them meet those needs either by signposting them to other services or providing for them from the resources within Lily the Pink Ministries.
It is a not for profit organisation. The documentation also had to state what use any surplus would be put to. The answer to that was “The range of possible needs that clients may have means that it is unlikley that there will be any difficulty finding ways of spending money on clients.”
So now you know.
Posted: February 24th, 2009 under organisation.
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