Community Interest Companies (CIC) are limited companies, with special additional features, created for the use of people who want to conduct a business or other activity for community benefit, and not purely for private advantage.
This is achieved by a "community interest test" and "asset lock", which ensure that the CIC is established for community purposes and the assets and profits are dedicated to these purposes.
Registration of a company as a CIC has to be approved by the Regulator who also has a continuing monitoring and enforcement role.
MTM was successful in becoming a CIC by proposing to the Regulator that we will:
Deliver bespoke youth work projects that meet young people's individual and group needs such that young people will be better prepared for adult life and that they will be supported to make a successful transition through adolescence.
Deliver youth projects, clubs. lessons and initiatives that will have a positive impact on the young person's parents or carers, family and extended family, and their local community and peer groups.
Support and develop youth workers made redundant by Norfolk County Council due to the cessation of it's Youth Work Service in May 2011 such that qualified and trained quality youth workers will be able to remain in their specialist field, and in Norfolk and surrounds, and have a positive impact on Norfolk's young peoples' lives.
Support and develop new and existing Voluntary Youth Clubs and Societies through Project Management, Quality Control, Training and Consultancy.
As a CIC, MTM is committed to invest 65% of any profits back into the delivery of projects for young people, the provision of materials and resources for young people and youth work projects, the training and development of MTM's Youth Worker team, ongoing growth of MTM and volunteer development