Glossary
There can sometimes be a lot of terminology used in the sector...
... here we try to break down the 'jargon' with our own glossary of words, acronyms and phrases used on the site.
| A | Accelerator | Programmes that aim to support the growth of organisations with a track-record of delivery. These programmes are typically fixed-term, cohort-based, include mentoring and training, and may include desk space. | ||
| Asset lock |
A legal clause that prevents the assets of a company (income or capital) being used for private gain rather than the stated purposes of the organisation. (Source: Wikipedia) |
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C |
Capacity building |
A particular type of consultancy, where the client develops skills and knowledge through 'learning and doing' as part of a project. Once the project is complete, the client should have the capacity to undertake the majority of the project themselves next time around. | ||
| CIC |
Community Interest Company. CICs (pr: 'kicks') are a particualr type of limited company that exist to benefit the community rather than private shareholders. (Source: gov.uk) |
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| CLG |
Company Limited by Guarantee. In CLGs, the members of the company financially back it up to an agreed amount. Its members aren’t called shareholders. (Source: gov.uk) |
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| CLS |
Company Limited by Shares. In CLS', members (called shareholders) are liable for the original value of the shares they were issued but didn’t pay for. (Source: gov.uk) |
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| Community Benefit Society |
BenComs are run primarily for the benefit of the community at large, rather than just for members of the society. (Source: communityshares.org) |
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| Co-ops | Co-operative. Co-Ops are run for the mutual benefit of members who use its services.
(Source: communityshares.org) |
| E | Early Intervention |
Ensuring that everyone is able to realise their full potential by developing the range of skills we all need to thrive. Organisations working with youngsters early on in life to help them get the best start in life, and address any potential issues that could cause a drain on public services and their future opportunities later on in life. |
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I |
Impact Measurement |
| O | Organic growth |
Occurs when organisations grow by increasing their activities, growing their customers or developing new products, rather than mergers or acquisitions (inorganic growth).
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| Organisational growth | Alignment of organisational structure with purpose, people and process. |
| P | PbR |
Payments by Results
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| Q | Quasi-equity |
Quasi-equity (also known as revenue participation agreement) reflects some characteristics of both debt and equity. It's usually structured as an investment where financial return is calculated as a percentage of the investee’s future revenue streams.
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| R | Revenue Participation Agreement (RPA) |
Revenue Participation Agreement (also known as quasi-equity) reflects some characteristics of both debt and equity. It's usually structured as an investment where financial return is calculated as a percentage of the investee’s future revenue streams.
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S |
SIFI |
Social Investment Finance Intermediary |
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| Social Impact |
Social impact is the effect of an activity or intervention on the wellbeing of individuals and/or groups e.g. Families. |
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| Social Investment |
Social investment is generally accepted as the use of repayable finance to achieve a social as well as a financial return.
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| SROI |
Social Return on Investment |
| T | Tender |
A formal invitation to suppliers to bid to supply products and / or services.
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| Theory of Change (ToC) |
A Theory of Change (ToC) is a diagram which shows how an organisation (or project) achieves social impact. The diagram includes the project's users and other stakeholders, the activities and services they receive, and the short- and long-term changes or outcomes that they experience as a result. It may also include information on what makes the organisation (or project) special, and other factors that influence whether its activities deliver outcomes. A ToC can be used as a basis; (i) for social impact measurement and management (ii) to design new programmes, and (iii) to promote the organisation. |
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| Trustee | Trustees have overall control of a charity and are responsible for making sure it’s doing what it was set up to do. |
| V | VCSE |
Voluntary, Community, Social Enterprise (organisation).
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