What is a Community Interest Company?
What is a Community Interest Company?
Our Community Interest Company (CIC) has been set up as a not-for-profit limited company which exists primarily, like a charity, for the greater good and in our case, the benefit of Lubbesthorpe. You might be familiar with organisations known as social enterprises, that is effectively what we are. As a Company it has Directors. None of the Directors are employed or paid by Lubbesthorpe Alive. Sue, as Pioneer Community Worker, is employed by Churches Together and her paid time is gifted to Lubbesthorpe Alive. All other Directors give of their time freely and voluntarily. See our Our Team page to find out more about our Directors. We are currently looking for new Volunteer Directors to join our team
We chose this type of organisational structure as it is designed to enable social enterprises that want to use their profits and assets for the public good. CICs have the flexibility and certainty of a company form and will enable us to adapt easily as this community grows. As CIC it has some special features to ensure they are working for the benefit of the community.
Who operates The Hub?
Lubbeshorpe Alive CIC operate The Hub and the owners are The Drummond Estate who are New Lubbesthorpe's developers.
Where does our funding come from?
We are funded from six areas:
The Drummond Estate. The Drummond Estate always wanted to see New Lubbesthorpe become a place where people could live, work and play, rather than just another housing estate. They see Lubbesthorpe Alive as a way of continuing that story and after seeing the work that has already been undertaken, have committed to financially invest in the people of Lubbesthorpe through our CIC.
Income from groups we run and fundraising events. We ask for small donations for the groups we run and facilitate, this includes financial contributions but also volunteering opportunities. For those who can donate financially we are grateful. We also know an important and key part of growing healthy community is to encourage those who can to give their time and energy so value this equally.
Davidsons Housebuilder and David Wilson make a donation to Lubbesthorpe Alive for each house that is sold.
Churches Together in Leicestershire part fund the role of Pioneer Community Worker.
Hub Hire. The Hub is available for residents and local community groups such as The Land Trust, Go Travel Solutions, The Parish Council and the District Council. Residents are also able hire The Hub for family gatherings and parties. All this money is reinvested to ensure The Hub is open regularly, is safe and comfortable and so we can carry out community events and activities at little cost.
Grants. From organisations that wish to support community work and individuals want to give to the local community.
How are we accountable?
Usually Companies are accountable to their shareholders. As we are not-for-profit company there is no financial gain to be made for shareholders. We believe we should be accountable to our community as they are our reason for being and are effectively our shareholders. We promise to regularly seek feedback from our community to tell us how we are doing as well as ask what they would like to see us achieve.
Each year we will publish a yearly report which includes a financial report. This will be sent to all our supporters and will be available for the local community to see on our website. We will also continue to act in association with Churches Together in Leicestershire. The Pioneer Community Worker role is also accountable to a small group of representatives from the Churches who pay for her time.
Community Interest Companies are also subject to ongoing regulation by the CIC Regulator which helps to create confidence in the integrity of a CIC. Our accounts are filed each year through Companies House.
We firmly believe that operating as a CIC, Lubbesthorpe Alive is the best type of organisation, placed in the heart of the community here at Lubbesthorpe, to serve the community and deliver excellent community initiatives and events.
Please do contact us directly at firstname.lastname@example.org if you have any more questions.