The Aevia Charitable Trust, the ACT, will be chartered in the United States as a 501(c)3 organization governed by a Board of Directors while featuring a separate Board of Trustees that fulfills our fiduciary obligations in accordance with the common law definition of a trust. As we work to align our overall funding strategies with the value proposition set forth in the Aevia Group’s shared mission objective, a big part of this involves an understanding of donor expectations while also respecting each donor’s right to grant designated gifts. In this context, a contractural, common law, or pure Trust is ideally suited for situations where donors are passionate about a targeted approach to charitable service.
Once the full complement of initiatives for The Ascension Experience is operational, it will be composed of up to four focused educational charities supported by three special purpose, quasi-commercial, employee owned and directed businesses. Our Employee Owned Benefit Corporations (EOBCs) will each be chartered to donate ten percent of their profits to the charities through the Trust. The EOBC’s service motivated employees, and the volunteers within the charities will, as a class of stakeholders, always hold at least seventy percent of the EOBC’s voting shares of capitol stock.
This dynamic Charitable Trust is designed to fulfill its fiduciary obligations with respect to all actual and potential contractural trust relationships. It will solicit donations, apportion general funds, direct designated gifts, license marks, and administer other trust obligations in accordance with its fiduciary duty as conditioned by any pledge of time, talent and treasure along with other donor, volunteer, investor, worker, and project requirements.
The Trust will retain ownership of all client lists, Internet domain names, logos, service marks, and trademarks while also holding employee and volunteer stock in trust until any onboarding individual is vested. The ACT will grant access to the lists together with a royalty free perpetual license for the identity package to the businesses for as long as the businesses remain Employee Owned Benefit Corporations contributing to the cornerstone charities through the Trust.
The EOBCs will bring greater authenticity to the colloquial understanding of corporate personhood as they also labor to make the role of “good corporate citizen” truly real. They will serve as robust revenue generators because they will each be incentivized as for-profits while they also donate ten percent of those profits to support our charitable services. With respect to the supporting trio of Employee Owned Benefit Corporations (EOBCs), although the total stock ownership for outside investors will be limited to thirty percent, such seed-capitol investors will enjoy the assurance that an EOBC’s employees are the most incentivized and best motivated to be found anywhere on earth.
To insure the EOBCs will remain as benefit corporations in perpetuity, their charters will also serve to guarantee that certain assets within each of the businesses are closely held, by the Trust, in accordance with each business unit’s foundational charter.