Iowa tribe of kansas and nebraska
Grey Snow Management Solutions, LLC
Grey Snow Management Solutions, LLC (GSMS, LLC) is a corporation wholly owned by the Iowa Tribe of Kansas and Nebraska and is chartered under Tribal law. The Company has all of the privileges and immunities of the Tribe.
The Company is operated by a Board of Directors, which is appointed by the Tribal Council.
The Tribal Council must approve an implementation plan for the Company, approve of all annual operating plans, and allocate a portion of the gaming profits as investment capital to the Company. The Board is responsible for operating the Company and all periodic reporting back to the Tribal Council. The CEO runs the day-to-day operations of the Company and is responsible for implementing the Company’s strategy.
The Company’s strategy will primarily be financially oriented. It will focus on creating profits. Community development and job creation will be important to the company’s strategy but will be secondary goals.
Grey Snow Management Solutions, LLC, Inc. will be a holding company, which means the bulk of its investment activity will be conducted through subsidiary corporations. The Company will form a new subsidiary called Grey Snow Management Solutions, LLC Capital Company (“Grey Snow Management Solutions, LLC Capital”) to implement its financially oriented activities. Grey Snow Management Solutions, LLC Capital will be primarily focused on the maximization of investment income for the Tribe through passive investments and by acquiring controlling interests in entire companies.
In order to maximize the chances for initial success, the Company’s strategy will be implemented in phases as internal capabilities evolve. The Company will initially focus on making passive investments with well-established entities. As the company’s sophistication grows it will begin focusing on utilizing tribal economic advantages to acquire a controlling interest or acquire entire companies.
The Company will have a set of principles governing its interaction with the Tribe. The Company will be allocated a yearly amount of investment capital by the Tribe under its Gaming Revenue Allocation Plan (“RAP”). It will be allowed to reinvest its profits for years. After years of operation, the Company will allocate its dividends back to the Tribe based upon a dividend plan. It will have its own accounting and personnel systems separate and distinct from the Tribe. It will limit its governmental role to only those issues related to community economic development, and will seek ways to take full advantage of all of the Tribe’s legal and economic advantages.