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The help you need depends on what sort of organisation you are
If you are connected to the third sector, you will probably be one of the following. For more information, click through to the specialist page for each area. If you aren’t sure what sort of organisation you are, then these pages should clarify things a little.
Alternatively, if you know what sort of organisation you are and you feel you are insolvent, heading for insolvency, or want to voluntarily close your organisation, let’s talk.
These are probably the most recognisable of third-sector organisations. As always, we have specific help and advice available when you need on the links below. The legalities of the third sector when it comes to financial matters, including insolvency, can be complex at times so you need to fully understand your position.
An organisation established for recognised charitable purposes and operated for the public benefit. Any surplus is reinvested in its charitable work rather than distributed to owners.
A limited company set up to benefit a particular community or pursue a social purpose. It can trade commercially, but its assets and profits are mainly protected for community benefit.
While most people automatically think of the third sector as being charities or CiCs, there are a number of different organisations that could also need our help. You can access a more complete description of other kinds of organisations below.
A group formed for a shared purpose without becoming a separate legal entity. Its trustees or members may be personally responsible for its contracts, debts and liabilities.
A legal structure created specifically for charities and registered with the Charity Commission. It can own property and enter contracts in its own name, while generally limiting the personal liability of its trustees and members.
A company without shareholders, commonly used by charities, clubs and not-for-profit organisations. Its members promise to contribute a small agreed amount if it is wound up, limiting their personal liability.
An older legal term for a member-owned organisation operating as a co-operative or for the benefit of the community. These organisations are now generally known as registered societies and are regulated by the Financial Conduct Authority.
A member-owned mutual organisation established to provide benefits such as financial assistance, insurance or support during sickness, retirement or hardship. Any surplus is generally used for the benefit of its members rather than outside shareholders.