There are various forms under which an individual or group of people can choose to establish a business. One such form is a corporation. There are two different types of corporations: a C corporation and an S corporation. Unlike other business structures, a C corporation is a taxable entity that is separate from the individual or individuals who own it. A C corporation is frequently created to shield the shareholders from liability. While it is easy to establish a C corporation without recognition of gain, it is not as easy to transfer assets out of the corporation without tax.
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Bill Russell grew up on the Great Plains. During his youth, he was a rodeo bull rider, and gained fame as "Wild Bill" for his daring exploits. But Wild Bill was an artist at heart and soon decided to move on to his artistic pursuits.
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ORG was formed and funded by Founder and is tax-exempt under Sec. 501(c)(3) and classified as a private foundation. ORG intends to invest some of ORG's assets in the Investment Trust, a registered investment company offering two investment portfolios, a growth fund and a total return fund.
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