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Two New Purpose-Owned Companies
Natural Investments is now a perpetual purpose trust, and Resource Development Associates is an employee ownership trust
The background: For the last few months, we’ve been gathering a database of firms that call themselves steward-owned, purpose-owned, trust-owned, or employee-ownership trusts. These are the two we’ve learned about most recently.
Natural Investments’ transition was supported by Natalie Reitman-White, founder of Purpose Owned. She was previously a cofounder of Alternative Ownership Advisors, a subsidiary of Organically Grown Company—one of the first stewardship trusts in the US. Reitman-White has been at the center of many companies’ transitions to purpose trust ownership. Head here for an interview with Natalie about Organically Grown and purpose trust ownership.
Resource Development Associates converted to an employee ownership trust (EOT) in 2022, with support from Project Equity, a nonprofit consulting firm focused on employee ownership, and Mission Driven Finance helped provide the financing. Project Equity helps companies convert into worker cooperatives and increasingly to EOTs.
Learn more: Check out our database of trust-owned firms here. These two companies will be included in the next upload!