Air spectacle now accepting sponsorship as Southend Airshow CIC is formed with support from local businesses
Today John Delaney, Thomas Curtis and Ex Mayor of Southend Nora Goodman MBE signed the papers to incorporate Southend Airshow Community Interest Company. With the CIC formation completed we can begin to accept both sponsorship and donations towards the event. We are offering a wide range of sponsorship packages that will ensure that businesses large and small can benefit from the large advertising and good will opportunity presented by the first ever Southend Airshow and Military Festival.
Southend Airshow CIC was formed with the support of Goldwyns Chartered Accountants and BTMK Solicitors who are joining Southend Airshow and Military Festival as Service Sponsors. As Service Sponsors, Goldwyns and BTMK offer their extensive expertise and guidance in legal and accountancy for free. This ensures that we have the best possible platform to return this much loved event to the town.
Arthur Millman a director from Goldwyns Chartered Accountants added: “I’m delighted to assist the return of a much loved Southend event which brings pleasure to those who attend & a boost to the local economy”
John Delaney commented: “The Airshow returning in 2014 will be a reality if local people & local businesses follow the fantastic lead set by Goldwyns, BTMK & Billericay IT as Service Sponsors to come forward & fully support our efforts by getting involved & physically doing things to provide services for free or providing cash sponsorship.”
Thomas Curtis added: “Today is a historic day for the Southend Airshow and Military Festival, as we formally incorporate Southend Airshow CIC. The community interest company allows us to accept sponsorship but be able to donate proceeds to charity in keeping with our aims to create an event that benefits everyone. With formation of the CIC, we now have a great foundation for the 2014 event.”
Nora Goodman MBE: “I was very disappointed at the cancellation of this year’s Airshow, but hopefully we now can arrange this wonderful event for 2014”
Community Interest Companies (CICs)
Community interest companies (CIC) are a type of limited company designed specifically for those wishing to operate for the benefit of the community rather than for the benefit of the owners of the company. This means that a CIC cannot be formed or used solely for the personal gain of a particular person, or group of people. CICs can be limited by shares, or by guarantee, have a statutory “asset lock” to prevent the assets and profits being distributed, except as permitted by legislation. This ensures the assets and profits are retained within the CIC for community purposes, or transferred to another asset-locked organisation, such as another CIC or charity. A CIC cannot be formed to support political activities and a company that is a charity cannot be a CIC, unless it gives up its charitable status. However, a charity may apply to register a CIC as a subsidiary company.