Our Perspectives

 

The Business of Coral Restoration

The Business of Coral Restoration

by | Oct 19, 2019 | Operations

How our organization is structured for international success and mission fulfillment

Every project or enterprise must have the foundation of a professional establishment. Without this base, the structure and purpose of the endeavor cannot progress in a logical manner. Our organization requires a solid, well-oiled mechanism at its functional roots to assure the longevity of any long or short-term effort.

One of the first things we had to do in order to be considered by the governing authorities of Panama was create a business entity dedicated to the operation and management of a Marine ecosystem preservation purpose. The permissions and licenses necessary to operate within the parameters of the Maritime and Environmental regulatory agencies would be obtained in the name of the company so that transfers and transitions of individuals within the company would be seamless without causing gaps in the legal functionality of coral restoration, artificial reef development and nursery activities.

The company is a Panamanian registered S.A. (Sociedad Anonima) which is approximately the equivalent  of a US Corporation. (Inc.) In this case, the company is strictly a Panama operations management and licensing company with the additional responsibility of financial management and accountability.

The name chosen for the Caribbean Coral Restoration licensing and field operations company is “Ayuda a la Tierra”. In English this translates to “Help for the Earth”.

Ayuda a la Tierra then can hire employees, buy materials and equipment necessary for effective and efficient operations within the context of the goals of the company, insure against loss and liability, pay debts and maintain accurate records of operations and financial actions. By-Laws forbid both lending and borrowing for any purpose. Although it is not registered as a “non-profit” S.A., the By-laws require that any income produced by actions of the Company are used to fund ongoing operations related to the stated purpose and intention of restoration and preservation of marine ecosystems. Such income may include sales and/or maintenance of artificial reef structures, educational tours and sales of promotional items.

The Company operations are otherwise funded by charity donations, the majority of which are received through a US 501c3 charity corporation, Caribbean Coral Restoration Center, Inc. This company was created specifically to fund restoration efforts throughout the Caribbean basin with emphasis on the Panama archipelago of Bocas del Toro.

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