The CMAGIC board are pleased to announce that CMAGIC has now been incorporated as a Community Interest Company (CIC). CMAGIC was previously a charity (Charitable Incorporated Organisation or CIO). A CIC is a special type of limited company which exists to benefit the community rather than private shareholders. All CICs have a compulsory Asset Lock that cannot be removed. The Asset Lock is designed to ensure that the assets of the CIC (including any profits) are used for the benefit of the community. CMAGIC CIC’s assets will be used for the benefit of the trans, non-binary, intersex and gender diverse community in the Cheshire, Merseyside & Wirral regions. At the end of each financial year any unspent funds (bar a small reserve) are donated to the LCR Pride Foundation.

FAQ’s:

Q) What is the purpose of changing from a Charity (CIO) to a CIC?
A) Formerly, CMAGIC was able to create service specifications and bid for funding from NHS Clinical Commissioning Groups (CCGs – now Integrated Care Boards or ICBs) but was unable to host our own services. Instead, CMAGIC awarded the contracts for winning bids to existing local NHS service providers. With the change to a CIC, CMAGIC will now be able to host these services ourselves.