Organizational Structure
The Lifeboat Academy is incorporated as a multi-stakeholder cooperative, structured to balance the needs and contributions of diverse groups of partners, all needed to make the project work.
Our innovative share structure does this by recognizing these different “stakes” in the game by creating twinned share types. Class A community shares create common membership. Class B and C represent deeper investments. Class B shares represent the legal and financial stake in the game while Class C represents the “boots on the ground” stake. We tie this to the idea of the fair share footprint and a belief that care of the land is a responsibility of “ownership.” In other words, you could think of Class B and Class C shares as one half of a whole “Footprint Share.” And it allows us to recognize the different needs and concerns of each stakeholder.
Shares and the Fair Share Footprint
We issue 100 Class A and 100 Class B shares for each fair share footprint of Commons property. The Spalding Valley Farm represents 16 fair share footprints, so that equals 1,600 Class B shares and 1,600 Class C shares. Class B shares value is set by taking the total starting budget divided by 1,600, which is estimated to be about $1,600 per share and Class C shares are valued at 5% of Class B shares, or about $80 per share. In addition, an unlimited number of Class A community shares can be issued at 1% of the Class B value.
- Shares can be held by individuals or organizations.
- Class B shares are backed by the assets of the Association, including the real estate value of the property.
- Shares can be sold or traded.
Click here to see our Articles of Incorporation.
Governed by Sociocracy and Mutual Agreements
Governance runs on sociocratic principles: decisions are made by consent — no unresolved objection to the proposal at hand — rather than majority vote, and the organization is organized into linked circles, each responsible for a specific domain. An Interim Stewardship Council coordinates across those circles during this founding period. Day-to-day agreements between members are captured in living Operating Agreements rather than a fixed rulebook, so the structure can keep adapting as the cooperative grows.
Click here to read our Current Operating Agreements.
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