Like the principles of incorporation, corporate affairs … at least insofar as how they are operated, do not change much in regards to the community developments. The corporations will be funded and constructed by the foundation. As such, it is only standard practice that the foundation will have the chairmanship over the board of directors.
Given the nature of the community developments and the foundation, the citizens … those in voluntary association with the foundation, will act as shareholders of the voice, given a further collective voice through the foundation. A very capitalist system in principle, though in practice, the people themselves are the owners, not some bloated and faceless bureaucracy.
The corporate entities will pay taxes in accordance with GAAP, though given the ownership of the foundation, will not be allowed by law to provide cash dividends to the shareholders. “Dividends” therefore, will be deposited in specific accounts within the private hedge fund that have been established for the provision of social services for those voluntarily associating with the foundation and for the support and maintenance of the community itself, in addition to the supportive infrastructure.
Many of the corporations, based on the activities therein, will also provide areas for the ongoing education and training of students. Rather than trying to learn in traditional classroom environments, like-minded students with similar interests will be allowed to study in real-world environments under the direct and personal guidance of industry professionals in their selected fields of studyi.
i These programs may or may not be utilized to reduce the corporate tax liabilities, though such decisions will have to be made on a case-by-case basis and shall be dependent upon the current level of taxes already being paid … and whether or not additional deductions would create an undue burden to the local or domestic governing bodies and whether or not additional tax deductions would create an undue burden for the corporation in the form of “official” retribution from said governing bodies.
Let us know what you think please!