What is the difference between the CIC and CIO?
There are two new legal structures in the community and voluntary sector, the Charitable Incorporated Organisation (CIO) and the Community Interest Company (CIC) and the similarities in the names has caused some confusion. The CIO whilst provided for in the Charities Act (NI) 2008 will not be available until more detailed requirements are laid out in secondary legislation which has yet to come in. The CIC on the other hand is available for not for profit organisations which are not charities. The main similarities and differences of the two structures are as follows: 1. The CIO will always be charitable, it is designed for organisations with charitable proposes under the legislation that satisfy the public benefit test. The CIC will never be charitable; it was designed for non-charitable, social economy enterprises that want to use their profits and assets for the public good. 2. The CIO will have all the benefits of charitable status in terms of the various tax advantages, the CIC wil
