We are pleased to announce that GTL is now a Community Interest Company.
Becoming a CIC means we have changed our legal standing and are now regulated by the Office of the Regulator of Community Interest Companies. What this means in practice is:
The assets owned by GTL are held within an asset lock, this ensures that our assets are used for the good of the community.
There is a limit on dividends and interest payments made to shareholders and financiers. These limits are set by the CIC regulator. This ensures a profit can be made, but the primary focus remains on achieving benefits for the community.
GTL can now guarantee that our funds are used for community benefit (just as they always have been), but we are still able to adapt to the needs of our recipient’s as the CIC structure is more flexible than that of a charity.
GTL’s promise set out in our CIC declaration is:
To support anyone, across the UK, (and soon Holland), who is excluded from musical experience and expression, due to suffering physical disability or illness, or mental or emotional issues. Given to Live aims to make music accessible to all.
It also sets out how we will use any surplus we accrue: (We loved writing this part….when you have more money than you currently need what will you do? Tom’s vision could run free!)
After building up our reserves to cover 3 months running cost, there are several areas of support we would like to offer our GTL people:
- Providing budding musicians with an instrument of their choice and a set number of lessons to get them started. - Providing funding for counselling or bodywork for the GTL recipient and /or their family. - Providing funding for respite care.
And…..THE BIG DREAM:
GTL’s Respite & Retreat Centre.
We dream of purchasing a property to set up the GTL Centre. A place designed to be entirely disabled friendly and dedicated to fostering peoples love of music and the emotional healing which can come from it.
For the last year the Foo Fam, a Facebook group with members from all four corners of the globe, has been supporting Given To Live.