Chelwood Community Energy (CCE) is a Community Benefit Society and as such the company needs to set up an appropriate charity to distribute the initial sum of £50K and then any annual surplus funds that remain after all its obligations and expenses have been met. The board of CCE have agreed that the Community Fund should be administered by an Charitable Incorporated Organisation (CIO), to be called Chelwood Community Trust, where the voting members are the charity trustees, a Foundation CIO.
It is proposed that trustees would be appointed by CCE and local organisations, nominated at local annual village meetings and co-opted if necessary where special skills or experience were required.
The objects of the charity would be primarily those set out in the share prospectus but CCE is also concerned that the trustees should be able to use their discretion in determining the most efficacious distribution of the Community Fund over the full 25 year lifetime of the project.
Chelwood Community Trust would operate as a grant making charity that supported local charities, organisations and individuals that shared its aims and objectives.
These proposals are a first draft of our intentions to establish a suitable charitable vehicle to handle the significant sums of money we expect CCE will generate. The details of the constitution of Chelwood Community Trust would have to be agreed with the Charity Commissioners before the charity could be registered. We will keep you informed of the progress in this registration process.