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Reply To: Community Right to Bid – Should we set up a charity or a CIC?

Home The Just Act Forum Ask a question… Community Right to Bid – Should we set up a charity or a CIC? Reply To: Community Right to Bid – Should we set up a charity or a CIC?

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nataliafernandez
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Hello Green Girl

There are some important things to know with these options. If you choose to be a CIC you lock your assets which is supposedly it’s advantage – but consider this in mine with what you want the organsation for.
A Charity might be set up as efficiently with the right people in place. The good thing about a Charity option is that it can transformed into a CIC if you choose to do so at a later date – I believe the same cannot be said if you want to change a CIC to a charity.

I will attach a doc that I found online to help differentiate. It is dated 2013 apologies for this but it is one of the best descriptions I have found.

Good luck it sounds like a great venture!

KInd regards
Natalia

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