Established in 2022, Keeping Digital CIC is the legal name of the Keeping Digital Foundation. Introduced in 2005 in the UK, a community interest company (CIC) is a type of company designed for social enterprises that want to use their profits and assets for the public good. 

 

As a business, a CIC reinvests its surpluses to achieve its social objectives, rather than being driven by the goal of maximising profit for its shareholders or owners. 

 

In order to register as a CIC, we had to apply with a statement of our social objectives along with a legal declaration that our assets can only be used for these purposes. This ensures strict limitations to how a CIC handles it's finances, ensuring it only benefits it's community. 

 

Given the nature of a CIC, it's necessary that they are regulated to ensure that they operate in the interest of the community. 

 

Every year, we must file an Annual Report with the CIC Regulator that explains how we are achieving our social goals and engaging with our stakeholders. 

 

A CIC is designed to improve its target community. We are not driven by profit. Therefore, it's not possible for a CIC to convert into an ordinary limited company to be able to extract profit. However, we can convert into a incorporated charity in the future. 

 

No directors at Keeping Digital are paid, and all of our team are volunteers, meaning that any funding and profits go straight back into our work and our communities, and never in the pockets of individuals. 

 

Becoming a CIC, and being limited by guarantee, means we have no shares or shareholders and that people who fundraise for us, send us grants or donate to us can be ensured that their money goes into benefiting our services and allowing us to help more people. 

 

Keeping Digital CIC acts as a group name for our two organisations: