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26-01 becomes Community Interest Company
Howard Lake | 5 November 2007 | News
26-01 Limited, the County Durham-based consultancy and training company for not-for-profit organisations, has converted to a Community Interest Company (CIC).
Community Interest Companies (CICs) are limited companies, with special additional features, created for the use of people who want to conduct a business or other activity for community benefit, and not purely for private advantage.
This is achieved by a “community interest test” and “asset lock”, which ensure that the CIC is established for community purposes and the assets and profits are dedicated to these purposes. Registration of a company as a CIC has to be approved by the CIC Regulator who also has a continuing monitoring and enforcement role.
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Gerry Beldon, one of the three Directors, said: “We believe this new structure better reflects our values as an organisation and individuals. We exist to help not for profit organisations and we could think of no better way to demonstrate our personal and professional commitment to the sector than by formally becoming a social enterprise.”
26-01’s services include fundraising training, consultancy and business planning.
26-01’s unusual name stems from the fact that it was founded on 26 January 2006 when three friends, (Carl Chapman, Gerry Beldon and Alan Wylie), who had been talking about working together for some time took the plunge and set up their company.
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.