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10 Big ReasonsGovernance
Rivanna Natural Designs, Inc. is a for-profit corporation. The company was founded on July 3, 2001 as a stock Corporation under the provisions of the Virginia Stock Corporation Act, Title 13.1, Chapter 9, of the Code of Virginia (1950), as amended, with the authority to issue 5,000 shares of common stock. Crystal A. Mario, the company's sole founder, director, and shareholder, was issued 100 shares of stock.
On July 1, 2011, the day that Benefit Corporation legislation was enacted in the Commonwealth of Virginia, the company filed amended Articles of Incorporation to become a Benefit Corporation as described in Article 22, Chapter 9, Title 13.1 of the Code of Virginia of 1950, as amended. In the amended articles, the company stated that the principal purpose for which it is organized is to design, manufacture, and distribute awards and giftware, while considering the impact of its decisions not only on its shareholders, but also on its other stakeholders, including employees, suppliers, community, and the local and global environment.
Virginia law requires that VA Benefit Corporations provide an annual narrative description of the ways in which they pursued the generable public benefit during the previous fiscal year, the extent to which the general public benefit was created, and any circumstances that hindered the creation of the general public or any specific public benefit.
On November 10, 2015, the sole director and shareholder, in an action deemed to be consistent with and likely to promote the public benefit of the Corporation, filed amended Articles giving the Corporation the authority to issue 2,550 shares of Voting Common (Class A) stock and 2,450 share of Non-voting Common (Class B) stock.
On January 1, 2016, in an action deemed to be consistent with and likely to promote the public benefit of the Corporation, in consideration of her valuable services to the Corporation, Gretchen A. Wirth was issued 24 shares of Non-voting Class B common stock.
Statement of Beneficial Ownership
Effective January 1, 2016, Rivanna Natural Designs, Inc. has 124 shares of common stock outstanding. Crystal A. Mario, CEO, founder, and sole director, a U.S. citizen and resident of Virginia, owns 100 shares of Voting Class A common stock. Gretchen A. Wirth, Vice President of Business Development, a U.S. citizen and resident of California, owns 24 shares of Non-voting Class B common stock. Any changes to the ownership of the company will be made public within 30 days of occurrence.
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Board of Directors
The company currently does not have a Board of Directors or outside governing body. Stakeholders interested in participating in a company Advisory Board are invited to contact us.