C1 Celebrate Official Registration as Charitable Incorporated Organisation (CIO)15 December, 2018
C1 Celebrate Official Registration as Charitable Incorporated Organisation (CIO)
On 6th December 2018, the Charity Commission of England & Wales entered Cambourne One (known as “C1), as a Charitable Incorporated Organisation (CIO), onto the Register of Charities (Charity Number 1181036). The Trustees of C1 are all naturally very excited and pleased to receive the news and by the grace of Allah (One God) are […]
On 6th December 2018, the Charity Commission of England & Wales entered Cambourne One (known as “C1), as a Charitable Incorporated Organisation (CIO), onto the Register of Charities (Charity Number 1181036).
The Trustees of C1 are all naturally very excited and pleased to receive the news and by the grace of Allah (One God) are thankful for all the support extended by the community and other organisations, including a Prince of Wales Trust body it consulted with.
The CIO model is rarely seen amongst Muslim Charities. The Trustees of C1, after careful consultation, elected to incorporate the charity as a CIO as it delivers on its core values (Transparency, Integrity, Equality, Unity and Diversity), as well as helping to overcome lack of transparency in conduct and financial management, often of concern from the public.
The other benefits of a CIO are:
– registering gives advantages associated with being both a charity and a company, without the added bureaucratic burden of answering to both the companies and charities regulatory bodies;
– the legal requirement to comply with the Charities Act 2011 with regard to the keeping of accounting records, to the preparation and scrutiny of statements of account, and to the preparation of annual reports and returns, that are to be sent to the Charity Commission;
– it provides better access to funding and sponsorship, and exemption from certain taxes. It is also more attractive to individual donors;
– the company element of the CIO allows the organisation to enter into contracts and conduct business under its own name rather than under the names of its individual trustees;
– issues regarding trustees’ conflicts of interest are more clear-cut with CIOs;
– both the members and the trustees of CIOs have a legal duty to act in the interests of the group, which is not the case with other legal structures;
– though not a legal requirement, CIOs encourage an AGM once a year.
Each journey is unique and with each journey we change and develop.
As work continues with maturity in fulfilling its effort to advance education, social welfare and the capabilities of the young , the charity is now ready for its next journey to fulfil its other charitable purposes too. These entail outreach, interfaith, charitable causes, a community centre, da’wah (sharing understanding of Islam), and other general charitable causes where there is need. https://cambourne1.org.uk/our-objects/
C1 would like to thank everyone from the community, teachers, specialists, volunteers, partners and institutions for your generosity and kind support in achieving our endeavours to benefit Cambourne, Muslims, Communities and Public. Your ongoing support is vital to succeeding in achieving betterment of our lives together.