Not everyone knows what a Community Interest Company (CIC) is or does. A CIC differs from traditional business models, as it must legally have an underlying social purpose. Essentially a not for profit company, this means that all profits must benefit the community, whether geographically or demographically, as decided when the company is incorporated. CICs are asset locked so, in the event of dissolving or transferring ownership of the company, assets can only legally be passed on to other asset-locked, not for profit organisations. Director salaries are capped and directors cannot profit from the sale of assets or the company.
For Catch Unlimited CIC, our social commitment lies in helping people into employment, improving their prospects and reducing social isolation through the provision of opportunities to engage with communities, build skills and volunteer.
Selling our experience and services in the private sector generates revenue that allows us to work on supporting small grass roots organisations and individuals who need a bit of a leg up.