|Welcome to ShipShares.Org||
"All these vessels were paid for by issuing ten cent shares to the children of America. The money came from all directions ... all the states of the Union,
also from Turkey, Syria, China and Hawaii, in such abundance that notice was given that no more was needed. All that was not required to building the vessel was put aside for sailing it and for repairs."
excerpted / abridged from: "www.janeresture.com/morningstar"
When the Internet had only four top level domains (TLDs), ORG was intended for not-for-profit organizations. Two commonly used forms relevant to ShipShares.Org are 501(c)(3) and 501(c)(4) corporations. These are U.S.legal structures that have comparable counterparts in many countries. The world has moved on from when the Internet was young and now distinctions between some for- and not-for-profit organizations can be less definitive. Two newer structures available in some states in the U.S. are the Benefit Corporation, defined as a corporation to create general public benefit, and the L3C company, described as a social enterprise venture that has a stated goal of performing a socially beneficial purpose, not maximizing income, though generating some profit is permitted. ShipShares.Org acts as conduit to the world community for organizations of all legal structures whose primary mission is of a social benefit nature to the world maritime community. Today this might be, for instance, the building and / or operation of a tall ship for training in sail. Over the years some interesting non-traditional "proxy share" offerings have been used to enable the construction, acquisition and operation of vessels for a wide range of social, religeous and environmental missions. ShipShares.Org does not advocate or endorse any particular mechanism or vehicle because laws change over time and between domiciles. We will consider making the ShipShares.Org platform available, without endorsement or prejudice, to not-for-profits, Benefit Corporations, L3Cs and similar organizations for promotional campaigns where legality of the campaign is established in locations from which support is being sought.