What is a cooperative?
A cooperative is a corporation organized for the mutual benefit of its members, who own shares of stock in the corporation. Promenade Towers Mutual Housing Corporatin is a Maryland non-profit corporation established for the purpose of providing residences to shareholders who are entitled to the right of occupancy to an apartment subject to the terms of the “Occupancy Agreement,” the By-laws and the House Rules and entitled to the right to use the common areas and facilities. The Corporation owns the fee simple title to The Promenade. Shareholders do not hold a direct interest in the real estate but, instead, own shares of stock in the Corporation that owns The Promenade. Shares of stock are allocated to each apartment depending upon square footage, location, view, etc. Ownership of shares gives each shareholder the right to participate in the management and control of the Corporation and all common areas. Each share represents one vote. Each shreholder pays carrying charges for the ope
A cooperative preschool is one in which families join together to run a preschool that stresses family involvement and the developmental growth of the child. Parents run the school by selecting and holding one of the numerous positions that are needed to run a quality program. We elect a Board to handle some of the larger tasks, but every parent has a voice and an important job within the co-op. The teachers are the school’s only paid staff. They are selected for their qualifications as well as their demonstrated skills in working with children. They routinely continue their education through workshops and meetings. Each class day has a consistent schedule for the children. Each day contains the different types of learning and social aspects a child needs for his or her developmental growth: free play (play centers, free choice with many large and small motor activities available), circle time (group interaction, listening to others, story time, finger plays, songs), snack (everyone se
· A cooperative is an organized group of people working together for the good of the whole group. · People join together to meet their own needs. · The co-op members own the organization and benefit from its successes. The community also benefits because the wealth of the co-op stays in the community.
