also known as The Songa Pledge
WHEREAS, All investors in the Songa Public Benefit Corporation (“Songa PBC”) will be required to sign the following legally-binding pledge.
WHEREAS, our mutual intention is to gradually transfer the wealth created by Songa to the people who created the wealth—the members of Songa. In exchange, we challenge the members of Songa to bring true wealth into the lives of our family and friends.
<aside> 📖 True wealth is when you are surrounded by rich relationships with family and friends who actively seek opportunities to bring your dreams into their lives. When you share your dreams with loved ones, and allow them latitude to bring your dreams to life, what you’ll find is that your life will become everything you could have hoped for, and beyond anything you could have ever dreamed.
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WHEREAS, we understand that The Songa Pledge is intended to align investor interests with those of the members of Songa. The greater Songa grows, the larger the tax benefit to Patron Investors, and the more wealth is transferred to the members of Songa.
WHEREAS, Patrons who commit to sharing 100% of their gains will have access to exclusive benefits and perks not available to others.
WHEREAS, we understand that the Songa.org nonprofit and Songa.us public-benefit corporation are governed by the a common set of ‣
WHEREAS, the Board of the Songa nonprofit is controlled by Songa Members and beneficiaries
WHEREAS, the Board of the Songa Public Benefit Corporation is controlled by Patron Investors, but 50% of the shares of the Songa Public Benefit Corporation have been reserved for individuals who devote over 70% of their time to the Songa.
Once per year, on January 31st, ownership shares in Songa will be valued based upon the Valuation Formula below. If there is a gain on a Patron’s investment, shares equivalent to that amount will be donated to Songa.org and Patron will be provided documentation that they may submit to the United States Internal Revenue Service to claim a tax benefit the amount of the donated shares.
As a Patron please initial below the percentage of your gains that you would like to donate to the Songa.org nonprofit established for the benefit of the Songa members who created the gains:
___ I agree to donate 50% of gains
___ I agree to donate 75% of gains
___ I agree to donate 100% of gains
Valuation formula
The value of Songa is determined as follows: