Updated October 2017: Since this blog was first written, we have simplified our position on funding community interest companies.
What is a community interest company?
A community interest company (often referred to as a C.I.C., or pronounced ‘kick’) is a type of company mainly used by social enterprises – i.e. companies that want to use profits they make for for the good of society.
There are several forms community interest companies can take, depending on whether they want to be limited by guarantee, have shareholders, or be linked to a specific charity.
What types of community interest company will you fund?
Any of these different types of community interest company can potentially apply to The National Lottery Community Fund, so long as they meet our basic requirements for any applicant group. These basic requirements cover the number of directors required, the company’s bank account, annual accounts and governing document. You can find out more detail on these requirements in our blog about getting ready to apply.
If your community interest company is guaranteed by shares, we may also check with you that the specific work we would be funding will not create any undue financial benefit to individual people – such as investors or shareholders.
How can I find out more?
We fund a range of different work in Scotland, and you can find out more about what grants are available on our website. We are also more than happy to discuss your plans for applying, or anything else about our funding. Just contact our friendly Advice team on:
email@example.com or 0300 123 7110