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Funding for CIC

Trusts & Grants

LAURA Baker Freelance Bid Writer at LB Charity Consulting Posted 1 year ago

Hiya, 
I'm looking for some help and advise on income generation for a CIC. Can anyone recommend any Trusts and Foundations who would fund a CIC?
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Fiona Sanderson

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Director at Miss S - Accounting for Purpose CIC 1 year ago

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First a question, are you limited by shares or guarantee?
 
If the latter you have far more funding opportunities open to you. 
 
I recommend using the database of grant on Charity Excellence Framework as a starting point as many will be relevant for CICs as well as charities. 
 
Also, consider UnLtd and National Lottery. 
 
BUT, and this is a BIG BUT, do not assume that you can rely on grants for all your income. The whole point of CICs is that you can, and should, trade too. Whether it is charging for sessions/workshops/classes or selling products and merchandise, it all counts and should be considered an important part of your CICs income. 
 
In addition to trading income and grants, consider looking to local businesses for sponsorship and set up ways that people can donate to the organisation including setting up an easyfundraising account and encouraging all your directors, staff, service users, followers and families of all the above to do their online shopping through it thus donating without it costing them a penny. 
 
Hope this helps you. 

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Hazel Munn

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Marketing & Communications Manager at Northamptonshire Community Foundation 1 year ago

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Hi Laura
Depending on the structure of your CIC, you might be eligible for funding from your local community foundation. It might be worth looking at the fund guidelines on their website or talking to their Grants Team to check.
Best wishes
Hazel

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Anne Shilton

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Link Officer at n/a 1 year ago

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There are trusts and foundation who will fund CIC's - more than there used to be - but check each criteria carefully before you apply.   As has been mentioned, most funders will want to see that roughly 50% of a CIC income is self generated eg from the sale of goods or services - that's one of the main differences between funding a CIO and a CIC of course.  So does your application show that you are or will be generating your income as well as seeking grants.

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Anne Shilton

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Link Officer at n/a 1 year ago

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Ausra B   Substaniate this claim?!  Do feel free to do your own research or simply ignore me as you wish.  I've worked in this sector for 30+ years, so based on experience and there are others here who have illuded to something similar.  

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Ausra B

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Student at Charity 1 year ago

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Anne Shilton  Thanks!

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