Find answers to commonly raised questions about ESSENCE membership, our policies and terms & conditions.
FAQs about ESSENCE of Exeter CIC membership
ESSENCE of Exeter CIC is a membership network for individuals and organisations that provide their goods/services in the Exeter area and show a strong commitment to being or becoming socially enterprising. ESSENCE of Exeter is a Community Interest Company and as such, has two types of membership:
Company Members are members whose legal entity and business model implies they are a social enterprise. Company members have the right to vote on Board members and key policies at the AGM and hold a liability/are a guarantor to the limit of £1. Eligibility for Company membership is based on answers to the following three questions:
- Does the applicant have a primary social or environmental purpose/mission?
- Do they generate the majority of their income from the (commercial) selling of goods/services to more than one client?
- What happens with the organisation’s profits? Do they get reinvested into the organisation? Donated to a charitable cause? Shared amongst management/employees/shareholders? Not an organisation that fits these criteria (yet)? Or are you an individual keen to support
Network Members are members who support ESSENCE’s mission, but whose legal entity does not imply they are a social enterprise. Network members get to enjoy all the benefits of an ESSENCE membership, but do not have the right to vote, nor the liability as a guarantor.
Want to know more? Read the membership policy on our website.
Turnover/income between £100k and £500k: £80
Turnover/income between £500k and £1m: £100
Turnover/income between £1m and £5m: £150
Turnover/income over £5m: £250
Of course, you are always welcome to pay more as a donation to furthering ESSENCE’s goals.