Criteria for CICs and social enterprises

We welcome applications from CICs but recognise they differ from Registered Charities and other voluntary organisations, particularly as they do not have a voluntary governance structure, equivalent to Trustees. As such, our decisions will be based on our regular grant criteria, as well as the following:

• Have a social purpose outlined in the Articles
• Have at least three unconnected Directors, the majority of whom are not paid and have an asset lock clause that ensures funds and assets are transferred to a body with charitable objects in Cornwall on closure of the CIC
• Have an asset locked body which complies with CCF’s CIC criteria
• All documents registered with Companies House must be up to date and be the same documents submitted to CCF (including the asset lock)
• Have a system to ensure decisions on Directors’ remuneration are not taken by those Directors receiving remuneration
• Have a realistic in date business plan which includes a financial forecast submitted alongside the application
• Applications will be welcomed for start-up costs or for delivering a new or innovative project that will benefit the community as part of the organisation’s development and must include two independent written references. We will only normally offer a grant towards running costs within an ongoing project for the first three years of operation.