Have Other Charities Faced Sudden Bank Account Closures? Seeking Advice and Recommendations
Eve Mapanda
Admin, Ops, IT & Finance
Funding and structuring between a CIC limited by guarantee and one limited by shares (Anonymous post 🤫)
Ocean King Staff Senior Community Executive at CharityConnect Posted 2 months ago
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This question is from a member of our community that wishes to remain anonymous:
I registered my first CIC as limited by shares because I saw potential for future growth and attracting investors. However, I later realised that accessing grant funding can be more difficult with this structure.
To address this, I set up a subsidiary CIC limited by guarantee, with both entities intended to run on the same web portal.
If I receive grant funding under the limited by guarantee CIC to build the portal, what potential conflicts or governance issues could arise, especially since the limited by shares CIC may eventually generate profit using the same platform?
What steps can I take from the outset to ensure transparency, accountability, and compliance for both entities?
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