Proposal for a 303F designation “For Profit philanthropic corporation” – multinational

Proposal for the creation of a new class of tax exempt organization.
A “303F” For profit corporation with a declared intent to make large profits and use such exclusively for the benefit of society.
Listening to a podcast titled “Were the Robber Barons America’s Greatest Philanthropists?” I was again impressed by my ignorance.

Apparently guilt played a big role in the movement. Amazingly, Carnegie is quoted as “The man who dies rich dies in disgrace.” and later explains the wealthy have a duty to give back to the society that let them achieve this status.

So, I propose we skip over the guilt part and set corporations out to make as much as they can but in the bylaws it is fixed that all such (net revenue) will be used for the betterment of society (yes including providing health care).

This is written into the bylaws and cannot be changed. So, I think the government should actually not just give tax breaks but actively help any corporation that declares to do this as it’s mission in every possible way.

Yes this is heading towards, I want to start one of these today would be nice.

Well I published the mission statement back in July

http://dreambridgefoundationforartistsurvival.wordpress.com/2009/07/03/the-for-profit-corporate-mission-statement-2/

Which I will repeat
1. Serve as a vehicle so that people can be paid to do what they enjoy and likely would do in any event.

Thus, the business exists to pay people to do what they enjoy doing, throw in the other stuff as well: health care, retirement, etc. Implicit in this mission is intent to make a profit. How else can the mission be achieved? The motive behind the intent is not a question. Only intent.

And just to equalize matters more:

2. A task deemed to menial to be of interest is a group responsibility to deal with (taking turns) until a way can be found to automate ot make it intersting to someone.

Inherent in the notion:: if this task exists in the corporation then it likely is everywhere. By solving this, there is probably a market for it in the form of a product or service somewhere; and simply by handling this issue results in a probable market commodity.

Let me follow that with the cover of the current issue of Michigan Engineer (I receive as an Alumni; BSE Engineering Physics) says

“Alumni, Students, & Faculty in service to the world.”:

I rest my case.

So, by having this as an inherent part of the corporate bylaws, we can bring the private sector into the picture without any question of ulterior motives.