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Regulator Of Community Interest Companies
A community interest company (CIC, colloquially pronounced "kick") is a type of company introduced by the United Kingdom government in 2005 under the Companies (Audit, Investigations and Community Enterprise) Act 2004, designed for social enterprises that want to use their profits and assets for the public good. CICs are intended to be easy to establish, with all the flexibility and certainty of the company form, but with some special features to ensure they are working for the benefit of the community. They are overseen by the Regulator of Community Interest Companies. CICs have proved popular and some 10,000 were registered in the status's first ten years. Objectives A community interest company is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or the community, rather than being driven by the need to maximize profit for shareholders and owners. CICs tackle a wide range of social and environmental issue ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies (Audit, Investigations And Community Enterprise) Act 2004
The Companies (Audit, Investigations and Community Enterprise) Act 2004 (c 27) is an Act of the Parliament of the United Kingdom The Parliament of the United Kingdom is the supreme legislative body of the United Kingdom, the Crown Dependencies and the British Overseas Territories. It meets at the Palace of Westminster, London. It alone possesses legislative suprem .... Background The following consultation documents and reports are precursors of this Act:Explanatory notesparagraph 5/ref> *The "Final Report of the Co-ordinating Group on Audit and Accounting Issues" to the Secretary of State for Trade and Industry and the Chancellor of the Exchequer, published in January 2003 *"Review of the Regulatory Regime of the Accountancy Profession: Legislative Proposals", published in March 2003, and the "Report on the public consultation and the Government's conclusions", published in February 2004 *The consultation document "Company Investigations: Powers for the 21st Centu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philanthropy
Philanthropy is a form of altruism that consists of "private initiatives, for the Public good (economics), public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material gain; and with government endeavors, which are public initiatives for public good, notably focusing on provision of public services. A person who practices philanthropy is a List of philanthropists, philanthropist. Etymology The word ''philanthropy'' comes , from ''phil''- "love, fond of" and ''anthrōpos'' "humankind, mankind". In the second century AD, Plutarch used the Greek concept of ''philanthrôpía'' to describe superior human beings. During the Middle Ages, ''philanthrôpía'' was superseded in Europe by the Christian theology, Christian cardinal virtue, virtue of ''charity'' (Latin: ''caritas''); selfless love, valued for salvation and escape from purgatory. Thomas Aquinas held that "the habit of charity ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Types Of Business Entity
A business entity is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province. Some of these types are listed below, by country. For guidance, approximate equivalents in the company law of English-speaking countries are given in most cases, for example: *private company limited by shares or Ltd. (UK, Ireland and the Commonwealth) *public limited company (UK, Ireland and the Commonwealth) *limited partnership *general partnership *chartered company *statutory corporation *state-owned enterprise *holdin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Interest Companies
A community is a social unit (a group of living things) with commonality such as place, norms, religion, values, customs, or identity. Communities may share a sense of place situated in a given geographical area (e.g. a country, village, town, or neighbourhood) or in virtual space through communication platforms. Durable good relations that extend beyond immediate genealogical ties also define a sense of community, important to their identity, practice, and roles in social institutions such as family, home, work, government, society, or humanity at large. Although communities are usually small relative to personal social ties, "community" may also refer to large group affiliations such as national communities, international communities, and virtual communities. The English-language word "community" derives from the Old French ''comuneté'' ( Modern French: ''communauté''), which comes from the Latin '' communitas'' "community", "public spirit" (from Latin ''communis'', "com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2005 Establishments In The United Kingdom
5 (five) is a number, numeral and digit. It is the natural number, and cardinal number, following 4 and preceding 6, and is a prime number. It has attained significance throughout history in part because typical humans have five digits on each hand. In mathematics 5 is the third smallest prime number, and the second super-prime. It is the first safe prime, the first good prime, the first balanced prime, and the first of three known Wilson primes. Five is the second Fermat prime and the third Mersenne prime exponent, as well as the third Catalan number, and the third Sophie Germain prime. Notably, 5 is equal to the sum of the ''only'' consecutive primes, 2 + 3, and is the only number that is part of more than one pair of twin primes, ( 3, 5) and (5, 7). It is also a sexy prime with the fifth prime number and first prime repunit, 11. Five is the third factorial prime, an alternating factorial, and an Eisenstein prime with no imaginary part and real part of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Entrepreneurship
Social entrepreneurship is an approach by individuals, groups, start-up companies or entrepreneurs, in which they develop, fund and implement solutions to social, cultural, or environmental issues. This concept may be applied to a wide range of organizations, which vary in size, aims, and beliefs. For-profit entrepreneurs typically measure performance using business metrics like profit, revenues and increases in stock prices. Social entrepreneurs, however, are either non-profits, or they blend for-profit goals with generating a positive "return to society". Therefore, they use different metrics. Social entrepreneurship typically attempts to further broad social, cultural and environmental goals often associated with the voluntary sector in areas such as poverty alleviation, health care and community development. At times, profit-making social enterprises may be established to support the social or cultural goals of the organization but not as an end in themselves. For exampl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benefit Corporation
In the United States, a benefit corporation (or in several jurisdictions including Delaware, a public-benefit corporation or PBC) is a type of for-profit corporate entity, authorized by 35 U.S. states and the District of Columbia, that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals, in that the definition of "best interest of the corporation" is specified to include those impacts. Laws concerning conventional corporations (referred to as "C corporations" by the IRS) typically do not specify the definition of "best interest of the corporation", which has led to the interpretation that increasing shareholder value (profits and/or share price) is the only overarching or compelling interest of a corporation. Benefit corporations may not differ much from traditional C corporations. A C corporation may change to a B corporation merely by stating in its approved corporate bylaws that it is a benefit c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Low-profit Limited Liability Company
A low-profit limited liability company (L3C) is a legal form of business entity in the United States. Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. L3Cs were created to comply with the Internal Revenue Service (IRS) program-related investments (PRIs) rules which allow most typically private foundations the ability to maintain tax-exempt status through investments in qualifying businesses and/or charities. With a social mission as the primary objective and a secondary objective of profit generation, the L3C legal form is considered a viable option for businesses seeking a reputation or marketability for being a social enterprise. Background & Concept The L3C structure was designed by Robert M. Lang, Jr., who was the CEO of a New York-based family foundation. Lang developed the structure as a way for foundations to clear tax and regulatory hurdles when it came to donations. With the first L3C statute being enacted in 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Contribution Companies
The community contribution company is a type of corporate structure set up in 2012 in British Columbia, Canada. It is intermediate between a commercial, for-profit, model, and the charitable, non-profit organisation.Community Contribution Companies Government of British Columbia, Ministry of Finance. Accessed Sept 2019. Traditionally, organizations either depend a combination of government funding, philanthropy, and earned income. This corporate model was set up to help build earned income to secure long-term growth. See also * Benefit corporation, a similar type of legal ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
B Corporation (certification)
In business, B Corporation (also B Lab or B Corp) is a private certification of for-profit companies of their " social and environmental performance." It is distinct from the legal designation as a benefit corporation. B Corp certification is conferred by B Lab, a global nonprofit organization with offices in the United States, Europe, Canada, Australia and New Zealand, and a partnership in Latin America with Sistema B. To be granted and to maintain certification, companies must receive a minimum score of 80 from an assessment of "social and environmental performance", integrate B Corp commitments to stakeholders into company governing documents, and pay an annual fee based on annual sales. Companies must re-certify every three years to retain B Corporation status. , there are 5,697 certified B Corporations across 158 industries in 85 countries. Purpose B Lab certification is a third-party standard requiring companies to meet social sustainability and environmental p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secretary Of State For Business, Energy And Industrial Strategy
The secretary of state for business, energy and industrial strategy, is a secretary of state in the Government of the United Kingdom, with responsibility for the Department for Business, Energy and Industrial Strategy. The incumbent is a member of the Cabinet of the United Kingdom. The incumbent Business Secretary is Grant Shapps who was appointed by Rishi Sunak on 25 October 2022. Responsibilities Corresponding to what is generally known as a commerce minister in many other countries, the business secretary's remit includes: * Oversight of science, research and innovation in Britain * Relations with domestic and international business * Policy relating to climate change * Policy relating to deregulation * Policy relating to energy security * Oversight of energy policy and industrial policy History During the government of Sir Alec Douglas-Home, the then President of the Board of Trade Edward Heath was given in addition the job of Secretary of State for Industry, Tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Interest Company Regulations 2005
A community is a social unit (a group of living things) with commonality such as place, norms, religion, values, customs, or identity. Communities may share a sense of place situated in a given geographical area (e.g. a country, village, town, or neighbourhood) or in virtual space through communication platforms. Durable good relations that extend beyond immediate genealogical ties also define a sense of community, important to their identity, practice, and roles in social institutions such as family, home, work, government, society, or humanity at large. Although communities are usually small relative to personal social ties, "community" may also refer to large group affiliations such as national communities, international communities, and virtual communities. The English-language word "community" derives from the Old French ''comuneté'' ( Modern French: ''communauté''), which comes from the Latin '' communitas'' "community", "public spirit" (from Latin ''communis'', "c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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