There is no distribution reporting per se on the tax return, unless it is in excess of basis - which would be considered a dividend paid at capital gain rates.I would encourage you to read about shareholder basis and what that all is about (what increases/decreases, what it is used for, etc.).

A Schedule K-1 is issued to a member/partner/shareholder of a pass-through entity.

If it is clearly not enough, they can pursue you personally, your fellow shareholders or any other companies you own.

With a stock, it is dividend payments and increased shareholder value with reinvested cash into the business.

But in Pennslyvania, having a corporation requires you to hold shareholder meetings, board meetings, election meetings, and more on at least on an annual basis.

A business corporation is owned by the shareholders and managed by directors chosen by the shareholders.

What you're proposing is just a for-profit corporation that donates to charity.To quote the IRS: "To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual."

Branscum Texas Supreme Court established the veil piercing doctrine stating that entities usually protect shareholders, officers, and directors from company liabilities, however if those individuals abuse this privilege, that individual is held liable.

Companies like Prudential, Metlife, Lincoln, John Hancock are stock companies so profits and dividends go to share holders...If you are going to use Insurance the companies I recommend are AUL, MTL, Guardian, New York Life.

You do have the ability to voice your displeasure with the management - annual meetings and shareholder votes.