You Have to Choose ONE

You Have to Choose ONE - Part III

In Part I, we explored the differences between an LLC and a PMA. In Part II, we explored the options of structuring organizations if you already have an LLC but would like to explore the benefits of PMAs.

To be clear - you can utilize any organizational structure you would like - we simply want to present the benefits of using the ones in the private realm as they can be valuable structures to explore - as the mega-rich know all too well…it’s time to share the strategies of wealth with those who still have their soul!

While you can operate multiple organizations with various structures, this post’s purpose is to share what happens if you try to operate ONE organization as BOTH an LLC and a PMA.

This last year, I worked with a naturopathic coaching and certification organization that had the intention of running as a PMA.

*there is already a red flag in the sentence above if you can catch it…

I was privately contracted to help them set up their backend systems such as their course, automations, email/sms marketing…

To be clear, it was not my role to be their advisor for how to run their PMA - I did help them set up their Private Irrevocable Trust months prior while working with a private legacy advisory team…so I knew their foundational structures and I did advise them to get their Bylaws drafted for their PMA, as they were also sharing with their students the benefits of operating in Private Jurisdiction.

To be in integrity - we must be and embody that which we teach.

But here’s the difference between actually running a Private Association versus saying you are private simply to avoid taxes (which is of course beneficial, but it isn’t the main goal):

In order to properly operate in the Private Realm:

• You cannot advertise as a certification program, especially in a regulated field such as holistic health / naturopathy. Certifications belong to the Statutory realm of regulatory agencies.

• You need to have a Board of Directors and keep minutes of your board meetings. THIS IS NOT THE SAME AS WORK PRODUCTIVITY MEETINGS. Board Meetings are designed to keep the organization accountable - to hold the organization tight to the True North of the Vision / Mission, set objectives for long-term goals, performance reviews, financial reviews, etc…this is a whole training in Building Trust

• You need to keep accounts, and they cannot be run out of personal accounts!! I cannot tell you how many times I’ve seen leaders of organizations running out of personal accounts! It’s shocking.

• You need to have a decision-making and governance protocol - these types of organizations will not last very long if ONE person calling all the shots with no accountability - that is what the Board is for.

In short, you cannot say you are one thing and operate as something completely different.

If you want to have a certification program because you feel it will give your organization more value and validity - then register your organization as a public corporation and follow the rules and regulations to offer certifications and licenses.

However, if you TRUST that you will attract others aligned with similar vision, and do not want to be constricted and constrained to regulatory agencies that want to profit and watch over your divine gifts and services, then operate in the Private, as it is your right.