The new owner of Organically Grown Company , an Oregon-based organic produce distributor, isn't a person but a trust, created to help the company maintain its social and environmental mission as it grows. The company is the first in the U.S. to use something called purpose trust law to restructure itself. As they grew, because an S-corp can only have a limited number of owners, they added an employee stock ownership plan. (It's commonly used for purposes like maintaining a family art collection, for example, but hasn't been used before to help a company maintain its mission.) A board will run the company to ensure that it's maximizing its social and environmental purpose, not focusing on short-term profits.
This company pioneered a new business structure to preserve its mission
collected by :Dicson Walt
The new owner of Organically Grown Company , an Oregon-based organic produce distributor, isn't a person but a trust, created to help the company maintain its social and environmental mission as it grows. The company is the first in the U.S. to use something called purpose trust law to restructure itself. As they grew, because an S-corp can only have a limited number of owners, they added an employee stock ownership plan. (It's commonly used for purposes like maintaining a family art collection, for example, but hasn't been used before to help a company maintain its mission.) A board will run the company to ensure that it's maximizing its social and environmental purpose, not focusing on short-term profits.
The new owner of Organically Grown Company , an Oregon-based organic produce distributor, isn't a person but a trust, created to help the company maintain its social and environmental mission as it grows. The company is the first in the U.S. to use something called purpose trust law to restructure itself. As they grew, because an S-corp can only have a limited number of owners, they added an employee stock ownership plan. (It's commonly used for purposes like maintaining a family art collection, for example, but hasn't been used before to help a company maintain its mission.) A board will run the company to ensure that it's maximizing its social and environmental purpose, not focusing on short-term profits.
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