Blog
Mr. Hershey’s Fee Arrangement With His Trustee
Nearly every trust has a trustee and that trustee gets paid a fee for services from the trust. The most common range for such a fee is .5% to 1% or more of the trust’s asset value. So, if a trust has $1,000,000 in assets, the trustee fee would typically be $5,000 to...
Incorporating Goals Into An Incentive System
Now that we have a set of goals for all of your direct reports whose goals are directly in support of your goals, it is a matter of monitoring the progress being made each quarter with everyone. Remember, if someone doesn’t achieve their goals, it could mean that you...
Goal Setting Inside an Incentive System
When speaking to someone in an advisory capacity, the subject of managing for successful results always comes up. One of the best ways to manage for successful results is through proper goal setting within a formal incentive system. Goal setting: Where do the goals...
COACHING/ADVISOR TOPICS – PEOPLE ISSUES
When talking to a business manager/owner who asks for help, there are a few common areas where they tend to seek advice. One of the biggest problem areas involves personnel matters. These can be the most difficult mostly because people are complex, group dynamics can...
Replication of the Boards of Milton Hershey’s Non-Profit Entities
Why does Milton S. Hershey specify that the boards of his charitable entities be the same as the board of their common trustee, Hershey Trust Company? Well, in 1909, Mr. Hershey created the Milton Hershey School in Hershey, Pennsylvania. He stipulated that the Hershey...
Milton S. Hershey’s Second Charitable Trust
The second charitable trust Milton Hershey created was the M. S. Hershey Foundation. He created this trust through an Agreement of Trust in 1935. As usual, he named the Hershey Trust Company as the trustee. Its purpose was, and still is, to provide educational and...
Milton S. Hershey’s Third Charitable Trust
Mr. Hershey’s third charitable trust was created in 1945, upon his death. His will simply left the residue of his estate in trust for the benefit of the Derry Township (Hershey) Public School District. And as usual, he named the Hershey Trust Company as the trustee...
Closed Ownership Loop of the Enterprises
How did Milton S. Hershey close the ownership loop of his business enterprises? Mr. Hershey created three trusts: two during his lifetime and one upon his death. He designated Hershey Trust Company the trustee of the three trusts. Hershey Trust Company is a...
How to Run a Board Meeting Effectively
I’ve mentioned before on this site that boards for companies, large or small, can function in one of two ways: smoothly or terribly. It all depends on the members. But sometimes, even if you have some fantastic members, there needs to be an even greater leader helming...
De-mystifying the Hershey Organization
Let’s start with the Hershey Trust Company, a Pennsylvania bank created in 1905, wholly owned by Milton S. Hershey. In 1909, Mr. Hershey created his Deed of Trust. In it, among other things, he put all of his business assets into trust and made the Hershey Trust...