A Corporate Form For The Mission Of Your Social Enterprise

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Deciding on a corporate form to protect the mission of your social enterprise is important, but possibly more important is ensuring that the corporate governance of your enterprise will allow for that mission to be protected and preserved. For CBAUI, we have incorporated several provisions within our charter and other aspects of our corporate governance to preserve our goal to provide online academic services to L-SES students in the greater New York City Area. A. Charter As a New York C Corporation, our corporate form does not formally provide mechanisms to preserve our mission. However, CBAUI has taken steps to incorporate in a state that has a constituency statute to provide our board of directors with the flexibility to consider our…show more content…
The advisory council does not have voting privileges on the board, however they can submit reports to the Board, as well as include items on the agenda. FINANCING We have set an aggressive schedule for growth in provision of services as well as expansion of our customer base from L-SES students to students who are able to pay at-market for tutoring and college preparation services. A. Company Financing Strategy CBAUI began with seed capital from the founders’ family, friends and community. They believed that there must be a better way to connect students who may need additional academic support with students who are excelling in these areas. With their help, along with an angel investment, our venture began with only $100,000. The future of CBAUI depends on continued investment until the revenue generating areas of our enterprise are profitable. 1. Impact Investors One of the main ways that our enterprise differs from other tutoring programs now available to students is the online component. To build that technology out into a platform that is accessible, effective and enjoyable to use, we need capital in addition to our current funding. An investment of $500,000-$2,000,000 would allow us to hire the professionals necessary to build proprietary web and mobile-based platforms that would allow our tutors to communicate with our scholars remotely. We would also provide additional modules for evaluation and building on the skills and concepts that
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