We will fund a Community Interest Company (CIC) if:

• the company’s activities clearly deliver public benefit
• the grant is used for community purposes
• the company can demonstrate social impact

To establish this, as well as your governing document we will require additional information including:

• Community Interest Statement (CIC36)
• Annual Community Interest Report (CIC34)
• a business plan

All CICs are legally required to operate with an asset lock, providing assurance that the organisation's assets will be retained for community benefit and protected from unrestricted private distribution. Therefore, we will not fund CICs that do not have an asset lock.

CICs limited by shares are not eligible to apply for this funding programme. Although these organisations are established to deliver community benefit, they are permitted to distribute a proportion of their profits to shareholders.

Because our grant funding is intended to support organisations that reinvest all surpluses for public and community benefit, only charities, charitable incorporated organisations (CIOs), and CICs limited by guarantee are eligible to apply. You should ensure that your legal structure meets the eligibility criteria before you apply.

We understand that directors, shareholders and connected persons may legitimately provide services to a CIC, and we are not seeking to exclude such arrangements. However, we need to understand any potential private benefit arising from the grant.

Where grant funding may be used directly or indirectly for the benefit of a director, shareholder, family member, connected person, or a business connected to them, we will consider the circumstances on a case-by-case basis.

The information you provide will help us assess any potential private benefit and inform our discretionary decision-making on whether the proposed use of grant funding is appropriate and eligible for support.

We expect CIC governance arrangements to include sufficient independent scrutiny to provide assurance that public or charitable funding will be used for community benefit and not confer undue private benefit.

Grant funding advisory note

We do not normally award unrestricted grants to CICs. We generally provide grants for a specific project, activity or community benefit, to ensure there is a clear public purpose for the funding and because unrestricted grants can give rise to tax and accounting considerations for the recipient.

CICs are responsible for obtaining their own independent professional advice regarding any tax implications of receiving a grant.

Your group must:

• be independently set up for charitable, benevolent or philanthropic purposes and does not operate private, commercial or personal profit or gain
• be incorporated
• have a minimum of three unrelated, elected volunteers who decide policy and overall management. By ‘unrelated’ we mean people who are not:
  • family members, such as siblings, parents and children
  • married couples or civil partners
  • people living at the same address
• have a legal structure that is appropriate to the size and nature of the organisation with a governing document defining its aims and procedures
• not be a statutory body, not be established by a statutory body, and not be wholly or partly managed by a statutory body
• not promote or appear to support a political party or ideology
• not have a ‘person of significant control’ listed on the Companies House register of ‘persons with significant control’ where an individual has the right to or power to:
  • appoint and remove the majority of the company’s directors
  • hold more than 50% of the company's shares
  • hold more than 50% of the voting rights
  • exercise (whether directly or indirectly) a considerable degree of influence or control over the company or its activities
• show good governance and management by having up-to-date policies and procedures that are followed, kept under review, and meet legal requirements
• comply with all statutory and legal responsibilities applicable to the organisation and its regulatory body, if relevant
• meet the legal responsibilities of an employer and adopt, implement, and monitor good employment practices and procedures, if relevant
• if a Community Interest Company:
  • have an asset lock (not-for-profit distribution clause)
  • be limited by guarantee
  • have been established for at least one year
• have returned satisfactory monitoring and evaluation, accounts or other information requested on time (in connection with any previous funding from us)
• have up to date, appropriate and adequate insurance cover

Your group must:

• keep accurate financial records that comply with legal standards and your governing documents including annual accounts
• provide up-to-date whole organisation accounts, showing income and expenditure (profit and loss) against current budget
• have a dual-controlled group bank account (two signatories) in the organisation’s name
• ensure that the bank or building society account in which you hold our grant funds is regulated either by the Prudential Regulation Authority (PRA) or by the Financial Conduct Authority (FCA) and is safeguarded by the Financial Services Compensation Scheme (FSCS)
  • Check which firms the PRA regulates
  • Use the FSCS’s bank and savings protection checker
• ensure that effective financial systems and procedures have been established, are being consistently followed and are in line with best practice and legal requirements for example has a reserves policy, presents finances to a board or committee for scrutiny
• have an annually updated reserves policy outlining total reserves, distinguishing restricted and unrestricted funds, explaining their purpose and calculation, and including designated reserves where relevant
• demonstrate that you need financial support for the activity

Your group must provide:

• the latest version of your governing document
• a list of trustees, directors or committee members
• a bank statement from within the last three months showing your organisational name and address
• the latest set of annual accounts, including profit and loss, income and expenditure
• up-to-date whole organisation accounts, showing income and expenditure (profit and loss) against current budget
• a trustee’s or director’s report (signed and dated)
• an external examiner’s report (signed and dated), where the annual income is £25,000 or above
• risk assessment(s) for your project or activities
• insurance certificate(s)
• if a Community Interest Company:
  • the Community Interest report (CIC34)
  • a business plan
  • form CIC36
• policies (including date of adoption and date for review) on:
  • complaints
  • data protection
  • environmental
  • equality and diversity
  • health and safety
  • reserves
  • safeguarding

Support Cambridgeshire can help you complete your application form or develop policies. They can also:

• provide template policies if your group does not have them yet
• advise how to gather and present financial information
• share examples of good practice and procedures

The Cambridge Ethnic Community Forum, who work with minoritised ethnic communities including migrants and refugees, can also provide advice or support to help you complete your application.

Face to face guidance sessions

We will hold face-to-face sessions at which we will provide guidance about the grants. Contact us to make an appointment.

• Wednesday 19 August, 10am to 3pm at the Support Cambridgeshire office in Arbury Court
  • Support Cambridgeshire what3words location: ///boost.splash.libraries

We are holding an event to provide information about upcoming funding opportunities and how recent changes might affect future grant programmes.

• Wednesday 12 August, 1.30pm to 3.30pm at Meadows Community Centre
  • Meadows Community Centre what3words location: ///into.supper.canny

The event will include a presentation and workshop-style sessions to focus on specific areas. You will also be able to ask questions and speak directly with us about your organisation’s plans and funding needs.

Contact us to reserve a place at the event.

You must complete a monitoring report as a condition of receiving a grant.

The grants portal will generate a report for you to tell us what you did with the grant and what difference it made to the participants.

For one-year grants, you must submit the report and your annual statement of accounts within one month after the completion of your activity and by 30 April 2028.

For two-year grants, you must submit the report by 30 April at the end of each funded year.

Please keep all receipts and invoices related to the activity, as we might ask to see them.

You must repay in full any award that:

• you do not spend
• you cannot provide evidence that you used it for the allocated purpose