A Local Fund is an internal account that is formed and maintained by each separate LOPSIII. The Local Fund has a dual purpose:
- The Local Fund collects the allocated shares of profit distributions from the Income Inequality Inhibitor (III) function of the LOPSIII; and,
- The Local Fund disburses the collected profits out to eligible recipients in the local area as free grants, donations, or gifts with no repayments or clawback provisions.
These paired processes of collecting excess profits and disbursing them to those who can benefit most work to inhibit runaway income inequality and its myriad harms. The Local Fund is the Income Inequality Inhibitor (III) core of every LOPSIII. If a LOPSIII-styled business finds itself unable to distribute its Local Fund capital for whatever reason, any undistributed funds that remain in the Local Fund at the end of the fiscal year may be remitted to the NAACP Empowerment Programs 501(c)(3)*. This annual “refresh” of the Local Fund account is an important part of LOPSIII maintenance by ensuring that potentially helpful money never becomes paralyzed in static accounts, endlessly awaiting the fine details of bureaucracy or ineffective decision makers. In order to help as quickly as possible, the funds must move as quickly as possible! Find someone who will put the cash to good use, and flow it into their control.
LOCAL FUND distributions are always GIFTS or GRANTS to eligible recipients with no repayment and no strings attached.
The Local Fund fundamentally underpins a core LOPSIII goal of equitably distributing the shared economic gain from locally generated commercial activity, while ethically re-balancing the wealth distribution dynamics of the economy. Specifically focusing on the most-disadvantaged groups who fall outside of the beneficial umbrella of the demographic majority is an excellent way to improve your local economy.
As individual LOPSIII businesses earn more revenue and thrive economically, the greater is their flow of funds through their Income Inequality Inhibitor (III), and the more active that LOPSIII’s Local Fund becomes in the community. More Local Fund activity supports a greater base of potential beneficiaries with the critical capital needed to empower and invest in their own economic prosperity. Giving financial advantage to the local consumer groups that constitute each LOPSIII’s commercial base is a mutually beneficial endeavor with limitless positive externalities. The LOPSIII model financially rewards those who are economically-needy now for harms that have already been transgressed against them and their families throughout this country’s history.
Eligibility for Recipients of the Local Fund
Any individual person who lives locally (city or county) and has been historically, economically disenfranchised within the United States is eligible by default to receive distributions from a LOPSIII Local Fund. Such persons can apply for a free, no-repayment grant from a LOPSIII in their local area for their chance to contribute to their neighborhood’s economic success and/or their own financial freedom.
Proof of historical, economic disenfranchisement is typically obvious and primarily includes BIPOC groups and those who populate groups outside of the white, male patriarchy which has shaped and institutionalized this country to its own advantage.
Each LOPSIII supports and maintains a simple framework for displaying the available funds in their own Local Fund (usually online), accepting simple applications, determining the basic eligibility and requests of recipients, and distributing the available funds on a rolling basis with absolute liquidity. This process should be as streamlined and efficient as possible.
After determining a recipient’s fundamental eligibility and local address, NO ADDITIONAL REQUIREMENTS are to be imposed on recipients in order to qualify for a distribution from the Local Fund.
- No age requirements
- No experience or merit requirements
- No wealth requirements
- No pre-existing connection or relationship requirements
* The NAACP Empowerment Programs 501(c)(3) has been initially selected as the default recipient for ALL excess Local Fund money from ALL LOPSIII businesses across the country due to its proven track record of empowering Black Americans who are by far the most historically disenfranchised demographic in the U.S., and who by far make up the largest and most deserving group of an automatic reparations mechanism. LOPSIII business owners are strongly encouraged to distribute all of their Local Fund capital to local recipients—there are always entrepreneurs-to-be waiting in the wings of your community, and now it’s your privilege to find them!
The first LOPSIII-style business ever formed is tkscm, limited.
New LOPSIIIs and Local Funds will emerge over time as the idea spreads. If you can’t find a Local Fund to access free grants in your area, encourage a local business owner to convert to a LOPSIII, or start a new LOPSIII yourself!
Check out their Local Fund to see how easy it is to apply for a free grant distribution if you live in the same area as one of their businesses.