Community Corporation will be Heartlands Trust Company held to
begin with, then going to full Employee Owned as soon as basic
corporate infrastructure is in place and employees become confident of
successful ownership and management. See the
Trust Co. page for the
list of Palco products and services. Palco Community Corporation
divisions are either independent affiliates or divisions of parent
company. All affiliates funnel certain percentages into the main Palco
Community Corporation trust account for cutting operational costs of
each component as well as strengthening their overall financial
an employee owned and
managed for-profit company
What is a “Community
case, it is a for-profit Corporation of Employee owned and operated
entities comprising the land, manufacturing and material assets of
Corporation and its subsidiary divisions, businesses, and cooperative
The Palco Community Corporation is based on equitable
entities have proportional profit sharing requirement and are
democratically controlled by vote, with one vote per participant.
Company asset and resource equity is held by Palco Community
Corporation in trust for the participants and their heirs and all
future PCC employees.
What are the basic purposes for organizing Palco Community
Corporation in this way?
Articles of Incorporation.
The purposes of Palco Community
1. To be
a holding corporation for property acquired to be operated by employee
owned and operated businesses and cooperative associations.
serve as advisor and consultant for the establishment of employee
owned and operated businesses and cooperative associations within the
Palco Community Corporation umbrella.
seek out economic opportunities to assist employees to buy out their
current place of employment, especially at a time when their jobs are
in jeopardy from plant closing or drastic down-sizing. Also to help
new enterprises to be established as employee owned and operated
entities with pride and proprietorship.
enable individual businesses within the Palco Community Corporation
umbrella to participate effectively in efficient, competitive,
cost-effective systems from the creation of the basic resource product
to processing resource into products, to distribution and marketing of
all Palco Community Corporation products and services.
How does the Palco Community Corporation work with cooperative
associations and employee enterprises?
Community Corporation holds title to, lease holds, or otherwise holds
land and/or facilities to be provided to cooperative associations and
employee enterprises whose bylaws and practices comply with the Palco
Community Corporation statement of purposes and bylaws. The amount of
payment from said cooperatives and employee enterprises shall be the
payments, interest and taxes that Palco Community Corporation is
obliged to pay for the facilities and financing PCC provides to said
employee enterprises and cooperatives. Additionally, each cooperative
association or employee enterprise will be obligated to a payment of
5% over the gross paid to Palco Community Corporation for facilities
plus 5% of the net profit of the cooperative association or employee
enterprise figured after all wages, salaries, but before profit
sharing is calculated. This fee, which may be paid in facilities
and/or services, will be used to cover overhead, administration,
salaries, and the research and development Palco Community Corporation
shall carry on as a service to said cooperative associations and
employee enterprises complying with the Palco Community Corporation
statement of purposes. When a facility is paid for in full from
whatever source, the Palco Community Corporation maintenance, research
and development, and assistance to the same through expanding or
acquiring further facilities, shall be paid for by a 15% payment of
the net net income from the PCC cooperative association or employee
enterprise. A cooperative association or employee enterprise may
voluntarily adjust these amounts in times of economic stress or
exceptional economic prosperity for the purpose of assisting said
cooperative association or employee enterprise, or for the purposes of
expanding the Palco Community Corporation family of cooperative
associations and employee enterprises more rapidly.
How does a cooperative
association or employee enterprise become part of Palco Community
owned and operated cooperative associations and enterprises that wish
to associate with Palco Community Corporation must agree to the
employee shall be paid a salary or wages plus a proportional share of
the surplus income of the cooperative in direct relation to their
cooperative association or employee enterprise shall except as a
member any employee hired for more than 90 days.
cooperative association or employee enterprise may hire consultants on
a temporary basis.
or seasonal employees shall be paid their share of the equally
proportional part of the cooperative association's or employee
enterprise' surplus income in direct relation to their participation
as are members of the cooperative association or employee enterprise.
and economic incentives are to be implemented to promote excellence,
to increase productivity, safety and responsibility of the individual
for the general good of the cooperative association or employee
enterprise and the community in which Palco Community Corporation
What is the benefit to the
individual if they choose to become a member of a cooperative
association or member of an employee enterprise under the Palco
Community Corporation umbrella?
members share in the profits of the cooperative association in direct
relationship to their participation. All members of an employee
enterprise under the PCC umbrella share in the profits in direct
relationship to their participation, the only difference being in
individual ownership and management of an employee enterprise vs. a
cooperative association. Your money, normally paid in taxes, can be
put in a revolving fund to benefit yourselves and your community.
what kind of purposes a cooperative association can be put to,
consider the following:
building and maintaining of cooperative community planned unit housing
developments and service facilities including cooperative food store,
children's care centers, medical and retirement care facilities,
supplemental and continuing education and recreation facilities,
systems and staff. The manufacturing, selling, or supplying to its
members of machinery, equipment, vehicles, fuel, insurance and other
benefits, or supplies and services of whatever type and quantity that
improves their quality of life.
financing of any such activities.