I.F.K. stands for Ian Fraser Kilmister, Lemmy's full name. A CIC is a type of company in the United Kingdom designed for social enterprises with the primary aim to benefit the community rather than to make a profit for private shareholders. This means that any profits generated are typically reinvested back into the community or used to further the company's social objectives.
St. Paul Street in Burslem holds the distinction of being the location where the Lemmy Kilmister was born and his early childhood saw him move to other nearby locations, including Newcastle-under-Lyme and Madeley. The fact that Lemmy was born in Burslem is a point of pride for the local community and for the IFK Legacy CIC directors, made up of passionate Lemmy and Motörhead fans, its reasoning to further solidify Lemmy's connection with his roots; hence the inception of IFK Legacy CIC.
IFK Legacy CIC as a vehicle to ensure that the Lemmy statue, and his legacy, is maintained for the benefit of the community, and fans of Lemmy; these principle objectives are, so far, being achieved with so much more to follow. Beyond the statue, IFK Legacy CIC aims to have a positive impact on the local community, potentially through related cultural and artistic initiatives.