Managing a Nonprofit Enterprise with Stewarded Surplus
Reference code: C25-05 Introduction and Core Function The design of a nonprofit enterprise without members or shareholders that distributes decision authority across multiple centers and treats net profits as stewarded surplus produces a distinctive institutional model. The structure differs from conventional corporate arrangements because residual gains are not distributed to private parties. Instead, retained surplus […]
Establishment of Funds
Article X — Establishment of Funds Section 1. Purpose The Commons Corporation (the “Corporation”) shall establish and maintain the funds described in this Article for the purposes stated below. Each Fund shall be used only for the purposes expressly authorized in this Article, in accordance with applicable law, the Corporation’s mission, and any policies adopted […]