Crowdfunder.co.uk collaborates with match funding partners to transform the face of grant distribution throughout the UK.
We know that our partners are always on the lookout for community-benefiting projects to support, meaning that charities, social enterprises and CICs are in a perfect position to receive additional funds alongside money raised from the Crowd. Whilst they are all unique in their own way, they are also bound together by a unified purpose to serve society, and that’s what we’re all about here at Crowdfunder… tackling society’s challenges by making ideas happen.
CICs + Crowdfunding
Designed for businesses with a clear social or environmental mission that want to use their profits and assets for the public good, a CIC (community interest company) is a special type of limited company that exists to fulfil a community purpose – defined when their application is made to set the CIC up. Whilst directors can be paid a salary, assets are locked into the business to ensure that they are used for its social purpose.
The Office of The Regulator of Community Interest Companies said, “Community Interest Companies (CICs) are businesses with a social purpose and are regulated to ensure they provide community benefit. Openness and transparency, plus additional regulatory restrictions, ensure CICs are able to make a positive difference to their community and that this shares a healthy balance with company profitability.”
Due to the clear impact that CICs have upon their communities, it puts them in the perfect position to be potentially eligible for additional funds from one of our match funding partners. Many CICs have already benefited, so why not get in touch to see if your project fits the bill?
Stoneham Bakehouse CIC crowdfunded to kit out the new premises for their community bakery in order to continue sharing the therapeutic nature and experience of making bread with the local community. As well as raising £13,445 from the Crowd, they also received a £10,000 match fund pledge from Santander Changemaker.
Simon from Stoneham Bakehouse said, “Our Crowdfunder campaign has been, and continues to be, incredibly helpful to our community business. The money we raised was vital to initially kitting out our bakery; buying the large oven, mixer and much more. However, much more than the money; knowing 273 people, many of them very local, supported our idea gave us confidence. So many of these backers have become regular and loyal customers.”
Growing Better also crowdfunded to great success for their CIC which supports and advocates for people facing mental health challenges by providing a range of therapeutic, social and work opportunities. The £11,010 raised from the Crowd, along with a match fund pledge of £10,000 from Santander Changemaker, meant that they were able to buy and kit out a shipping container with hydroponic growing equipment.
Rob from Growing Better CIC said, “Crowdfunding has helped our business in more ways than we could ever have imagined… It’s enabling us to move forward and grow our business much quicker than anticipated. Due to the publicity we generated through a local TV interview, we made vital connections to a secure mental health assessment unit in Leeds and are in discussions about supporting their service users both while they are in-patients and when they leave. Also, due to the publicity, we were contacted by several highly innovative companies that want to work with us in joint ventures… This is already bearing fruit as our container will now have solar panels!”
The Office of The Regulator of Community Interest Companies said, “There are now well over 13,500 CICs delivering real and tangible benefit to communities throughout the UK and engaged in every sector of the community including, health, social care, transport and the environment… The CIC brand is growing beyond all expectations. In 2005 it was expected that around 250 CICs would be added to the company register annually, we are now adding at least that amount to the register every month! The CIC brand is a broad church which is rapidly changing the social enterprise landscape.”
We believe that more ideas, the ideas that have the incredible potential to bring about a new way of seeing or doing things, need to be a reality – and it seems that CICs are leading the way!
The fee for using Crowdfunder is 8% (breakdown below)
- Platform fee – 5% plus VAT (VAT is 20% on the fees, so the overall fee is 6%) – charged on each pledge once your project closes successfully. The fees will already have been taken by the time the funds arrive in your payment provider account.
- Payment fee – 1.67% plus VAT (VAT is 20% on the fees, so the overall fee is 2%). Both our fee and this transaction fee will be shown to you in an invoice. So if you are VAT registered you can claim this money back.