L3C: Bridging the gap between nonprofits and for-profitsDecember 20th, 2011 9:18am
Effective Jan. 1, 2010, Illinois became the fifth state to recognize the low-profit limited liability company (L3C). As of this writing, 80 L3Cs have been formed in the state. An L3C is a hybrid business structure that combines the financial advantages of LLCs with the social advantages of nonprofit organizations with respect to funding, distributions to owners, return on investment and achievement of social goals. Like nonprofits, an L3C is organized to further one or more charitable or educational purposes. However, unlike nonprofits, the L3C has owners and may in fact have different classes of investors -- individuals, nonprofits, for-profits and even government agencies. As a variety of LLC, it generally shields owne ... Read More...Posted in: L3C News, L3CView / Add Comment | 0 Comment(s) | Rating: 0 of 5 | Share: Twitter, FacebookSocial Enterprises: A New Business Form Driving Social ChangeDecember 13th, 2011 8:09am - Posted By: Marc J. Lane
Many mission-driven organizations, both nonprofits and for-profits, are becoming “social enterprises” that embrace market-based strategies in the pursuit of their social purposes. New business models and even entity forms are emerging to help the social entrepreneur drive positive social change. Lawyers have new opportunities to aid their clients in advancing these new business forms. Some social enterprises are customer-focused substance abuse recovery centers, literacy initiatives, supportive housing developments, adult day-care facilities, hospices, and supplemental educational services. Others are employee-focused ventures that offer disadvantaged and disabled people job training, mentoring, and a path to permanent employment. As social enterprises have grown in popularity, partly in response to the worst economic recession in modern times, two new business forms have emerged: the “low-profit limited liability company” (L3C) and the &l ... Read More...Posted in: L3C News, Benefit Corp, L3C, Social EnterpriseView / Add Comment | 0 Comment(s) | Rating: 0 of 5 | Share: Twitter, FacebookThe Empire Strikes BackDecember 11th, 2011 1:34pm
Our friends in New York get a firsthand look this remarkable sight. Through the weekend, the world's most iconic tower glows red in support of The Cove. Ric O Barry, actor John Leguizamo, race car driver Leilani Munter and Louie Psihoyos were on hand for this special visual reminder of the dolphins in Japan. Traditionally, the 102-story tower lights up in honor of holidays, heroes and local sports teams. When the building's owner watched The Cove this summer, he vowed to created a visual tribute. Big thanks to all involved. [ Source: Oceanic Preservation Society ] Read More...Posted in: Client News, Oceanic Preservation SocietyView / Add Comment | 0 Comment(s) | Rating: 0 of 5 | Share: Twitter, FacebookTweaking the PRINovember 15th, 2011 10:27am
Riding the train home to Washington, D.C., after a meeting in New York City earlier this week, I found myself immersed in a New Yorker article by Malcolm Gladwell, “The Tweaker: The Real Genius of Steve Jobs.” The article contended that the real genius of Jobs was not in creating something new, but rather in tweaking existing products to make them better and more accessible. As I read the article, I began to draw a similar conclusion about the low-profit limited liability company (L3C). The L3C did not create something new. The program-related investment (PRI) rules have been in place since 1969 and the ability to make a PRI in a limited liability company (LLC) has existed since the first LLC law was passed in Wyoming in 1977. When Robert Lang of Americans for Community Development and Marcus Owens of Caplin & Drysdale sat down to craft the proposal that would become the first L3C statute, they didn’t start with a blank slate. Instead, ... Read More...Posted in: L3C News, L3C, Program Related Investment (PRI)View / Add Comment | 0 Comment(s) | Rating: 0 of 5 | Share: Twitter, FacebookinterSector Partners, L3C Move Us ForwardNovember 9th, 2011 12:00am
Posted on November 9, 2011 
mixhungama.com “The results of philanthropy are always beyond calculation.” Miriam Beard A huge thank you to interSector Partners, L3C (Rick Zwetsch and Caryn Capriccioso) for their donation which encourages nonprofit professionals to take our professional development training survey. THANK YOU! Because of Rick and Caryn’s support, anyone who completes our trainin ... Read More...Posted in: iSP in the News!, NonprofitsView / Add Comment | 0 Comment(s) | Rating: 0 of 5 | Share: Twitter, Facebook |
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