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WHAT IS A COMMUNITY INTEREST COMPANY?
A community interest company (CIC) is a new type of company introduced by the United Kingdom government in 2005 under the Companies (Audit, Investigations and Community Enterprise) Act 2004, designed for social enterprises that want to use their profits and assets for the public good. CICs are intended to be easy to set up, with all the flexibility and certainty of the company form, but with some special features to ensure they are working for the benefit of the community.
A Community Interest Company (CIC) is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners. CICs tackle a wide range of social and environmental issues and operate in all parts of the economy. By using business solutions to achieve public good, it is believed that social enterprises have a distinct and valuable role to play in helping create a strong, sustainable and socially inclusive economy.
CICs are diverse. They include community enterprises, social firms, mutual organisations such as co-operatives, and large-scale organisations operating locally, regionally, nationally or internationally.
There is no single legal model for social enterprise. They include companies limited by guarantee, industrial and provident societies, and companies limited by shares; some organisations are unincorporated associations and others are registered charities.
SEACAF CIC is a company limited by guarantee which means that we are not liable for any assets should the company fold.
All the work done by SEACAF CIC members
continues to be voluntary
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COMPANY DIRECTORS
Ms Paula Nederpel
Chairperson
Mrs Barbara Hough
Secretary
Mr Terry Maguire
Operations
Mr Denis Hough
Treasurer
Mr Andy Neild
Maintenance
Mrs Carole Maguire
Fundraising
Mrs Sally Pryor
Support Services
Mr Jim Bridges
Support Services |
