Article I — Name
The name of the corporation is Group Income Program (hereafter referred to as “the Corporation”).
Article II — Duration
The duration of the Corporation is perpetual.
Article III — Purpose
The Corporation is organized and operated exclusively for charitable, educational, and research purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code. Specifically, the Corporation aims to:
Develop and operate a program that provides a stable, livable baseline income to participants while conducting research on income-sharing and mutual aid systems.
Educate the public, stakeholders, and policymakers about income-sharing models, economic equity, and community-based financial systems.
Conduct research and evaluation to assess the effectiveness of the program, produce reports, and disseminate findings through publications, workshops, and educational materials.
Establish a platform for income-sharing models that can be adopted by communities, both domestically and internationally, to foster economic stability and social cohesion.
Article IV — Powers
The Corporation shall have all powers granted under the state nonprofit corporation statute, including but not limited to:
Soliciting and accepting contributions, grants, and donations.
Operating programs, projects, and initiatives in furtherance of its educational, charitable, and research purposes.
Acquiring, owning, and managing real and personal property.
Entering into contracts, agreements, and partnerships consistent with its mission.
Employing staff and contracting services necessary for the operation of the Corporation.
Engaging in any lawful activity incidental or necessary to accomplish its exempt purposes.
Article V — Membership
The Corporation will not have members in the traditional legal sense. Individuals participating in the program are “participants” with rights and responsibilities defined in the Corporation’s bylaws and operational policies, but they are not members for the purpose of corporate governance unless explicitly stated in the bylaws.
Article VI — Board of Directors
The affairs of the Corporation shall be managed by a Board of Directors.
The number, qualifications, and powers of Directors, and the method of their election or appointment, shall be as specified in the bylaws.
Directors shall serve without compensation, except for reimbursement of reasonable expenses incurred in carrying out corporate duties.
Article VII — Limitations
No part of the net earnings of the Corporation shall inure to the benefit of, or be distributable to, its directors, officers, or other private persons, except as reasonable compensation for services rendered or reimbursement of expenses.
The Corporation shall not engage in substantial lobbying or political campaign activities.
The Corporation shall operate exclusively for tax-exempt purposes and comply with all applicable provisions of Section 501(c)(3) of the Internal Revenue Code.
Article VIII — Dissolution
Upon dissolution of the Corporation, any remaining assets shall be distributed exclusively for charitable, educational, or research purposes, or to one or more organizations that qualify as exempt under Section 501(c)(3) of the Internal Revenue Code, as determined by the Board of Directors. No assets shall be distributed to any private individual.
Article IX — Registered Agent and Office
The initial registered office and agent for service of process of the Corporation shall be as designated in the filing with the Secretary of State.
Article X — Incorporators
The names and addresses of the incorporators of the Corporation are:
Julian Smith, [Address]
IN WITNESS WHEREOF, the undersigned incorporator has executed these Articles of Incorporation this ___ day of ______, 20.
Julian Smith, Incorporator