How we will handle your donations
Hand in Hand is registered as a Community Interest Company (CIC) in the UK, registration number 13973513. We chose CIC as our corporate entity as registering a charity with the Charity Commission in the UK is a lengthy process, and the people we are helping do not have time to wait. If we registered as a charity, opening a charity bank account alone would take 4-8 weeks minimum, during which time your donations will need to be transferred to a personal bank account, which is far from ideal.
By law, the assets of a CIC are "locked". This means that the assets cannot be sold under market value and can only be transferred to another CIC in case of wounding up. A CIC like ours, which is limited by guarantee, also cannot issue dividends. Further, we will not be paying our directors any compensation, as they will be working on a fully voluntary basis. All these measures ensure that funds are effectively locked within the organisation to only further its charitable aims.
We will be openly publishing our accounts, and we will post regular updates on our work.
Thank you for your support!