I posted on here a couple of weeks ago a suggestion of doing something similar - and was routinely ridiculed by the vocal minority. Its a very popular scenario across europe and never been done here.
In the UK they are generally an independant body, not run by the club but have access to the board some some board events and meetings (usually referred to as Sporting Trusts). In Germany, several sporting organisations do something similar.
If this can be achieved, and done well, then it would be a good thing for the fans
(Wolverhamton Wanderers as an example:
https://www.wolves1877trust.co.uk/)