How will Faith Communities and Faith-based Private Schools become invested in the farm?
1. Donations must reach a minimum of $5,636 for them to become invested.
2. The $5,636 is divided between CF and GTF as follows:
a. $3,380 to purchase 52 shares in CF ($65/share) - 60%
b. $2,256 to purchase 40 shares in GTF ($56.4/shares) - 40%
c. This 60:40 split investment is to favor investment in the no-risk capital asset ownership. The value of the 55 acres has tripled since it was first purchased.
3. Any amounts exceeding the minimum required will still go to share purchase on the same 60:40 split - $5,636 is only a minimum (there is a $100,000 maximum).
4. The Faith Community or Faith-based Private School for whom donations reach the required minimum receive legal documentation from our attorney confirming the shares they own in each LLC.
What happens when the $5,636 minimum is reached?
OR What do Faith Communities or Faith-based Private Schools receive?
From GTI (501c3)
- An invitation to have a representative on the GTI Advisory Committee
- A letter explaining the nutritional training and education services GTI offers them under the SNAP program and the FFESMM curriculum
• FFESMM]: www.faithfulfamiliesesmm.org
If they sign the Operating Agreements
- From Crescent Farmland of New Egypt, LLC, (CF)
• Letter from attorney confirming share ownership in CF
• Tax form K1 from CF every year
- From Good Tree Farm of New Egypt, LLC, (GTF)
• Letter from attorney confirming share ownership in GTF
• Tax form K1 from GTF every year
• Letter detailing benefits they get for being an invested Faith Community or Faith-based Private School
If they do not sign the Operating Agreements
- A letter from GTF confirming the CSA balance they have (entire amount of donation received in their name) and how it is divided over five years to be used up in farm products only (vegetables, eggs, meat, honey, etc.)