Should we become an incorporated organisation, or should we identify a Nominated Fundholder?

This topic contains 2 replies, has 3 voices, and was last updated by  Chris Edwards 1 month, 2 weeks ago.

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  • #4634

    JohnWLocality
    Keymaster

    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?”

    • This topic was modified 4 months ago by  JohnWLocality.
    • This topic was modified 4 months ago by  JohnWLocality.
    • This topic was modified 4 months ago by  npadmin.
  • #4638

    QueensPark
    Participant

    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.

  • #4690

    Chris Edwards
    Participant

    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

    chris

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