A Quest for Hybrid Companies - Part Money-Maker, Part Nonprofit - NYTimes.com: California is the latest state to adopt a statute permitting what is called flexible-purpose corporations, new companies that are part social benefit and part low-profit entities. The companies are now allowed under laws in more than a dozen states and two Indian tribes.
States like New York and Massachusetts are weighing comparable legislation — sometimes also known as low-profit limited liability or benefit corporations
Showing posts with label L3c. Show all posts
Showing posts with label L3c. Show all posts
Thursday, October 13, 2011
Wednesday, November 10, 2010
The Nonprofit Quarterly | @npquarterly | To Be or Not To Be an L3C
The Nonprofit Quarterly | @npquarterly | To Be or Not To Be an L3C: "A half dozen states have authorized the creation of L3Cs, the latest being North Carolina. As many have acknowledged, the aim of L3Cs is to get a sort of blanket approval of eligibility for Program Related Investments (PRIs), which are loans and loan guarantees that foundations can make and that count toward foundations' required qualified distributions or payout. (Note: Foundations can invest from their corpus in for-profit companies through Market Related Investments or MRIs, but they don't count toward payout)."L3c
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