We are pleased to announce that Friendship has recently become a Charitable Incorporated Organisation (CIO).
So what does this mean?
Well, for our members and volunteers, nothing will change regarding the delivery of our services!
A charitable incorporated organisation (CIO) is a new form of legal entity designed for non-profit organisations in the UK. Essentially, CIOs are designed to be a more efficient way to run a charitable venture than standard charitable companies, owing to the fact that their regulation is not as complicated (CIOs will only have to register once with the Charity Commission, rather than also registering with Companies House – the aim of which is to reduce any administrative burdens).
The main intended benefits of the new entity are that it has legal personality, the ability to conduct business in its own name, and limited liability so that its members and trustees are protected, and will not have to contribute in the event of financial loss. You can find out more about CIOs here.
Becoming a CIO also requires us to have a new charity number – so ours is now 1160062.
If you have any questions regarding this change and would like to discuss with a member of staff, please feel free to contact us.