Misplaced Pages

#276723

22-454: The Waltham Land Trust is a private, non-profit corporation that seeks to preserve open space in Waltham, Massachusetts . The trust currently sponsors many projects, including the protection of the grounds of the former Gaebler Children's Center . 42°23′4.7″N 71°12′49.9″W  /  42.384639°N 71.213861°W  / 42.384639; -71.213861 This article about

44-527: A cultural institution or organization is a stub . You can help Misplaced Pages by expanding it . This Massachusetts -related article is a stub . You can help Misplaced Pages by expanding it . Non-profit corporation A public-benefit nonprofit corporation is a type of nonprofit corporation chartered by a state government , and organized primarily or exclusively for social , educational , recreational or charitable purposes by like-minded citizens. Public-benefit nonprofit corporations are distinct in

66-610: A state government that exists to serve its members in ways other than obtaining and distributing profits to them. Therefore, it cannot obtain IRS 501(c)(3) non-profit status as a charitable organization . A mutual-benefit corporation can be non-profit or not-for-profit, but it still must pay regular corporate tax rates. A mutual benefit corporation will pay the same taxes as a regular for-profit corporation, with C corporation tax rates. Mutual benefit corporations must still file tax returns and pay income tax because they are not formed for

88-711: A state or province government. The government agency responsible for regulating such corporations is usually the official holder of records, for instance a state Secretary of State . Religious corporations are formed like all other nonprofit corporations by filing articles of incorporation with the state. Religious corporation articles need to have the standard tax exempt language the IRS requires. Religious corporations are subject to less rigorous state and federal filing and reporting requirements than many other tax-exempt organizations, such as mutual benefit nonprofit corporations , or public benefit nonprofit corporations . Depending on

110-434: A bigger higher level cooperative, is called the secondary cooperative. Secondary cooperative is different from the association. Cooperative of secondary cooperative is called tertiary cooperatives. For example, each village may have a village level cooperative. Several village cooperatives may form a district level secondary cooperative in which village level cooperatives have a share. Several district level cooperatives may form

132-556: A purpose from which anyone in the world could benefit. Mutual benefit corporations are formed for nonprofit purposes like managing a condo association, a downtown business district, or a homeowners' association. A utility cooperative is an example of an MBNC. Utility cooperative A utility cooperative is a type of cooperative that is tasked with the delivery of a public utility such as electricity , water or telecommunications to its members. Profits are either reinvested for infrastructure or distributed to members in

154-504: A set of ideals based on the Rochdale Principles . Some utility cooperatives respect the seventh principle, Concern for community , through Operation Roundup schemes, whereby members can voluntarily have their bill rounded to the next currency unit (e.g. $ 55.37 becomes $ 56), with the difference (e.g. 63¢) distributed to a fund for local charities. Many such cooperatives exist in the rural United States and were created by

176-424: A single telephone co-operative, The Phone Co-op , which provides fixed, mobile telephone and internet services, including web hosting and broadband. It is 100% owned by its customer-members who democratically control the business and who share in its profits. The co-op is a social enterprise and was awarded the title of UK customer-facing social enterprise of the year 2015.[1] The business is a living wage employer and

198-545: A state level tertiary cooperative, and so on. In 2013, REScoop, a European federation of energy co-operatives, both producers' and consumers', was launched. It has 11 members in seven countries. In the UK, Co-operative Energy was established in 2010 by Midcounties Co-operative and supplies electricity and gas across the country. Electricity in most provinces of the Philippines are served by cooperatives, and all belong to

220-552: The New Deal to bring electric power and telephone service to rural areas, when the nearest investor-owned utility would not provide service since it believes that there would be insufficient revenue to justify the capital expenditures required. Many electric cooperatives have banded together to form their own wholesale power cooperatives, often called G&Ts for "generation and transmission", to supply their member-owners with electricity. Many utility cooperatives strive to bring

242-614: The PUDs in the Pacific Northwest starting about the same time and continuing with varying degrees of success over the following two decades. The key difference between a PPD/PUD and a cooperative is that PPDs/PUDs are publicly controlled by residents of a state or local area and run more like a municipal power system than a cooperative system. A cooperative is owned and operated by the customers they serve within their designated service area. Cooperative owners have voting rights to elect

SECTION 10

#1732787684277

264-764: The United Kingdom and Enercoop in France are examples of consumer cooperatives . Other co-ops have formed to concentrate on the generation of renewable energy, especially wind energy co-operatives . There are two types of electric cooperatives: distribution cooperatives and generation and transmission (G&T) cooperatives. Distribution electric cooperatives serve end-users, such as residences and businesses, who make up their membership. Generation and transmission cooperatives typically sell wholesale power to distribution cooperatives and are cooperative federations owned by their member co-ops. Most electric cooperatives in

286-580: The United States include the phrase "electric cooperative" in their name, which makes it easy to identify their organization. Most cooperatives have a name that identifies or explains some aspect of their service area. For example, Bluebonnet Electric Cooperative in Texas is named after the Bluebonnet which grows naturally in its service area. Lyntegar Electric Cooperative, also in Texas, is named for

308-514: The best service at the lowest possible cost, but the high cost of maintaining the infrastructure that is needed to cover large rural areas without the support of large cities as a rich customer base often causes high prices. However, a few such co-ops have managed to tap into urban markets because of growth into previously rural territory served by the co-ops, and they have proven to be very cost-effective. More recently, established energy co-ops have offered with national coverage. Co-operative Energy in

330-510: The cooperative name if asked who their electric provider was. Today, some cooperatives, either by choice or by the guidance of state charter laws, carry a variation of the cooperative name. These include: Several states have another variation of the utility cooperative, known as Public Power Districts (PPDs) in Nebraska and Public Utility Districts (PUDs) in Oregon and Washington. In both cases,

352-524: The cooperative's board members each year and generally have more say in the operations than other utility forms. Small cooperatives often band together to achieve economies of scale , share expertise and stand together on regulatory issues. There are several statewide (and in Canada, province-wide) associations of cooperatives, including Kentucky and Nova Scotia. A cooperative of cooperatives, in which several smaller level cooperatives come together to form

374-882: The distribution sector, which serve the end customers, who own the cooperative themselves. Electric cooperatives in the Philippines are overseen by the government through the National Electrification Administration (NEA), and rates set by the cooperatives are regulated by the Energy Regulatory Commission (ERC), an agency belonging to the Department of Energy (DOE). Telephone cooperatives have today expanded beyond their historical role of providing fixed line telephone services, by also offering broadband and often cable TV services (via DSL , coaxial cable or optical fibre ), and mobile/wireless services. The UK has

396-460: The form of "patronage" or "capital credits", which are dividends paid on a member's investment in the cooperative. Each customer is a member and owner of the business. This means that all members have equal individual authority, unlike investor-owned utilities where the extent of individual authority is governed by the number of shares held. Like cooperatives operating in other sectors, many utility cooperatives conduct their affairs according to

418-424: The law from mutual-benefit nonprofit corporations in that they are organized for the general public benefit , rather than for the interest of its members. They are also distinct in the law from religious corporations. A religious corporation is a nonprofit corporation organized to promote religious purposes. Often these types of corporations are recognized under the law on a subnational level, for instance by

440-410: The laws that created these "quasi-cooperative" utilities were created with the specific intent of taking over territory being served by privately owned power companies in those states. Nebraska's conversion from a mixture of power companies serving the state to a public power empire spanned the 1940s (the last privately owned utility line into the state being cut on December 29, 1949), with the creation of

462-417: The state in which they are located, they may also be exempt from some of the inspections or regulations governing non-religious groups performing the same services. Religious corporations are permitted to designate a person to act in the capacity of corporation sole . A mutual-benefit nonprofit corporation or membership corporation, in the United States, is a type of nonprofit corporation chartered by

SECTION 20

#1732787684277

484-655: The three original counties that came together to organize it, Lynn County , Terry County , and Garza County , and A&N Electric Cooperative in Virginia, is named so because it serves Accomack County and Northampton County . For years after the Rural Electrification Administration was established, many rural residents in the US called cooperatives "REA", regardless of their actual name, and would in turn say they were served by REA instead of

#276723