The Peninsula Trust is an independent Community Cooperative, owned and controlled by its members. Our formal registration title is a Community Benefit Society - the descendant of the old Industrial & Provident Society structure. We were registered with the Financial Conduct Authority on 19th March 2014.
All our Directors, Staff and Volunteers are local people. We have over 600 members, with more joining each week.
We are not a charity, and therefore do not appear on the Charity Commission website. However, we hold "Exempt Charity" status from HMRC, which gives us the same tax privileges as a normal charity, and allows us to fundraise just like a charity.
The Community Benefit Society structure is fully accepted by government, banks and grant funders but is not particularly well known, although gaining in popularity through initiatives such as Community Shops. We chose this legal structure for two reasons:
It gives a rock-solid basis in community ownership. Everyone who joins is a part-owner of the Trust; whether people invest £1 or £20,000, they get just one vote at our meetings.
The legal structure allows us to raise investment money from private individuals for Community Investment projects.
What we're trying to achieve?
Trading, not grants. Over time, we intend to become fully self-supporting from trading and rental income, acquiring assets - housing, workspace, etc - that people need, provided locally at a fair price. The income can then cover our running costs and make our operations safe from changes in government policy, lack of grant funding, etc. We believe this is the way forward - but it will take time (years) so we realise that we will have to use grant money for launch costs and start-ups.
The Peninsula Trust is run by a group of local volunteer Directors, elected by and from the membership at our Annual General Meeeting. Find out more about our Directors here...
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