Our current work as a group of local people, involved in the delivery and administration of our CIC, is to support creativity, leisure and enterprise at Elvaston Country Park.
As a CIC we use our energies to do good. Our company, a not for profit corporate body, delivers its support to Elvaston Castle directly for the public benefit.
What is a CIC?
A community interest company (CIC) is a new type of company introduced by the United Kingdom government in 2005 under the Companies (Audit, Investigations and Community Enterprise) Act 2004, designed for social enterprises that want to use their profits and assets for the public good.
CICs are intended to be easy to set up, with all the flexibility and certainty of the company form, but with some special features to ensure they are working for the benefit of the community.
A community interest company is a business with primarily 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.
CICs tackle a wide range of social and environmental issues and operate in all parts of the economy. By using business solutions to achieve public good, it is believed that social enterprises have a distinct and valuable role to play in helping create a strong, sustainable and socially inclusive economy.
Source: Wikipedia
Why this model?
In the UK the CIC Regulator defines the benefits of being a CIC as the following…
- Reassurance to stakeholders, as the asset lock and community purposes are regulated.
- Offering an appropriate high profile for social enterprises and not for profit bodies.
- Access to a growing network and voice within the Third Sector movement in the UK.
For our community business at Everything Elvaston, this profile of regulation, creativity, community sensitivity and enterprise generation leads us to believe that we are uniquely placed to be able to support the lasting development of Elvaston Castle.
If helpful, you can view, print or download the guidance leaflet from the UK regulator here. It is informative and reassuring about asset locks, community benefit and the professional approach we must take.
If you have any questions about our company status, or the work we do to support Elvaston Castle, please us our Contact Us page, and we’ll answer as quickly as we can.
To write to us, our contact details are at the bottom of every web page…
