17th August 2018 at 3:50 pm #4634
We have had the following question from the Queens Park Neighbourhood Forum. If any other forums have any tips or can share any useful experience it would be greatly appreciated. Respond below.
From the Queens Park Neighbourhood Forum:
As a community-led Neighbourhood Forum, we are presently an unincorporated organisation. In order to receive the national grant funding, we either need to become an incorporated organisation (most likely a CIO – charitable incorporated organisation) or we need to identify a Nominated Fundholder to handle our monies on our behalf.
I am interested to receive feedback from other Neighbourhood Forums on:
i) if you have established yourself as a CIO, how straightforward did you find the process & can you share any ‘lessons learned’?
ii) if you have used a Nominated Fundholder, what legal entity did you use, and how did this relationship work in practice?”
19th August 2018 at 7:18 pm #4638
An additional ask – if any Neighbourhood Forum has become a CIO and would be willing to share your charity Objects, that would be much appreciated.
3rd November 2018 at 6:26 pm #4690
I don’t know if this is still relevant but does it depend on the resources you have to manage the funds and account for them? It is also a question of how quickly you want to move since setting up a new structure is time consuming and takes resources. If an established entity can help to bear to administrative burden it can help those involved to concentrate on the purpose of the work
5th March 2019 at 9:05 am #5015
The long term goal should to become incorporated. However this is a long haul! We have often receomended designated Fund Holders. I know that the CVS has been the fund holder on some occasions. My company is a CIC and has been a fund holder before and we also undertook the monitoring for Locality as well.
You must be logged in to reply to this topic. Login