Special Needs Community CIC (community interest company) is a social enterprise we set up to help develop and run the SEN Adventure Playground Project.
It is also going to be managing HP4DC from 1st April 2018.
What is a Community Interest Company (CIC)?
A CIC is a specific type of limited company that trades commercially as a social enterprise and has clear 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. By using business solutions to achieve public good, it is believed that CICs have a distinct and valuable role to play in helping create a strong, sustainable and socially inclusive economy.
CICs have statutory clauses that cannot be removed.
An asset lock is a legal clause that prevents the assets of a company being used for private gain rather than the stated purposes of the organisation. The asset lock clause ensures the assets are used for the benefit of the community and there are other clauses to ensure members retail control.
Other statutory clauses set it apart from other companies and prevent demutualisation and windfall profits being paid to directors and members without the balances and checks of mutuality and charitable status.
Special Needs Community C.I.C, although not a charity has charitable purposes. As a social enterprise, we are free to find creative solutions to the issues we would like change and work hard for the community we serve. As part of the wider community, we depend on community support and encouragement. If you would like to get involved and volunteer your time, expertise or support us financially, please don’t hesitate to get in touch.
It has 3 directors who are linked to HP4DC.