Greyhounds in Need – CIO
As mentioned in our last newsletter I can confirm that our charity has now become an incorporated body and granted the status of CIO.
The opportunity of achieving this status without the complications of becoming a company was provided by legislation passed in 2015 which set up a new status called a Charitable Incorporated Organisation (CIO). The trustees decided to go down this path because it offers the advantages enjoyed by a limited company, without the need to change the way the trustees run the charity, while remaining responsible solely to the Charities Commission.
The major advantages are twofold. Firstly the trustees are no longer personally liable for the charities liabilities (just like company directors) and, secondly, the CIO is a legal entity able to enter into contracts, leases and the like. These, at present, have to be in the names of trustees who change over time. Perhaps most importantly, it has become clear that prospective trustees are increasingly unwilling to be appointed to unincorporated charities. We have a different registered charity number, which is 1174351, but apart from that our supporters will see little or no change.
Registered Charity No. 1174351
5A, 80 High Street
Surrey, TW20 9HE
Tel: 00 44 (0) 1784 483206