[57north-ctte] Fwd: Sandy.Mathers at acvo.org.uk: RE: 57North Hacklab in Aberdeen.
midder at protodox.com
Fri Jul 19 14:51:42 BST 2019
Hibby and I met with Sandy Mathers on Thursday to talk about constitutional changes.
After the meet send sent the below email and some documents regarding the structure, I can forward if people want to read.
What it boils down to, is we are not a CIC in name only and the difference is we can remove our asset lock where a CIC cannot. Sandy didn't think this would be an issue for funding.
He thinks we would pass the Charity test to become a SCIO under the Scottish charities regulator and this would give us, rates relief and Gift aid to collect more on any money donations to the space.
We space briefly about Asset Transfer as a route to get a location, but this would further investigation.
If anyone has questions over this I'll try to answer,
---- SNIP ----
A pleasure to meet with yourself and your colleague. It was good to find out more about what you do.
We covered a lot of ground;
i) We discussed the implications of the current company seeking to convert to a Community Interest Company (CIC). We noted that we couldn't see a compelling reason to do so at present. That view would change for example if we met with reluctance from a potential funder due to the lack of a regulated asset lock. That situation had not as yet arisen.
ii) We discussed in broad terms the fact that the company as it stands might be able to pass the charity test. As a charity it would have many tax and other advantages (principally Gift aid and Rates Relief) that the current company would not qualify for (or the CIC).
iii) we discussed in broad terms the implications of Community Asset Transfer. While the company as it stands might struggle to qualify as an asset transfer body, we felt this was an avenue worth further exploration.
We also thought it would be helpful for you to have some broad discussions about funding with my colleague Kaja Czuchnicka who is our expert in these things.
We did not arrange to meet again but I made clear that I would be very happy to have this discussion at a meeting of the Directors of 57North Hacklab Ltd.
I very much look forward to hearing from you in due course.
Very best wishes,
---- SNIP ----
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