the future of the friends of abbeyfield park. the legal stuff... to hold a lease, enter into...
TRANSCRIPT
![Page 1: The Future of the Friends of Abbeyfield Park. The legal stuff... To hold a lease, enter into contracts, employ staff, apply for some forms of funding](https://reader035.vdocument.in/reader035/viewer/2022081009/56649f095503460f94c1dc78/html5/thumbnails/1.jpg)
The Future of the Friends of Abbeyfield
Park
![Page 2: The Future of the Friends of Abbeyfield Park. The legal stuff... To hold a lease, enter into contracts, employ staff, apply for some forms of funding](https://reader035.vdocument.in/reader035/viewer/2022081009/56649f095503460f94c1dc78/html5/thumbnails/2.jpg)
The legal stuff...
To hold a lease, enter into contracts, employ staff, apply for some forms of funding etc, FOAP needs to be legally incorporated.
The legal form we are recommending is a Charitable Incorporated Organisation by Association.
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Charitable Incorporated Organisations (CIOs)
● New legal form specifically created for charities
● Corporate status and limited liability● Regulated by Charity Commission, not by
Companies House● Model constitution produced by Charity
Commission● As charity benefit from tax exemptions etc
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CIO by Association
● Membership elects Trustees● Membership can be wide or narrow body – define
membership criteria in constitution● “It is the duty of each member of a CIO to advance
the purposes of the CIO” [Charities Act 2011]● Limited liability, don't have to give financial guarantee● Members can be individuals or corporate bodies● Certain rights – such as amending constitution –
reserved to members
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CIO Trustees
● Responsible for governance and oversight● Propose they are elected by members (but
could be appointed by Trustees, nominated by external bodies, or ex officio)
● May not derive personal benefit (e.g. be employed by the CIO) except in very specific circumstances
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Charitable Purposes
Charities Act 2011:
(e) The advancement of citizenship or community development
(f) The advancement of arts, heritage, culture or science
Purposes are for the public benefit.
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Next steps
● Identify initial members and trustees● Agree a constitution● Online registration with Charity Commission
(1 – 3 months)● At moment of registration, the CIO is formed
as corporate body and registered charity● Phased introduction of registration – charities
who expect >£5k income from 1st October
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What should be in the FOAP constitution?
Aims/objectives, e.g.● To celebrate the diverse culture and heritage of
the area● To provide opportunities for community
development in Abbeyfield Park
Values, e.g.● Inclusive● Environmentally conscious
Your suggestions!