We are delighted to announce that ‘Achieve in Education CIC’ has been formed!
What does this mean?
A CIC is a ‘Community Interest Company’ which is a limited company which operates to provide a benefit to the community they serve. They are not strictly ‘not for profit’, and CICs can, and do, deliver returns to investors. However, the purpose of CIC is primarily one of community benefit rather than private profit. Whilst returns to investors are permitted, these must be balanced and reasonable, to encourage investment in the social enterprise sector whilst ensuring true community benefit is always at the heart of any CIC.
If the CIC is not for profit, why is a subscription fee charged?
The subscription fee covers all of the ongoing costs associated with the running and maintenance of the website, administration of memberships and the creation of new resources and quizzes.
What happens to any ‘profit’?
Any profit is reinvested into educational projects, in order to improve the life chances of children.
If you have any questions, then please do not hesitate to contact us.