Nonprofit, For-Profit, L3C, B Corp...How to Choose?
With the availability of low-profit limited liability corporations (L3Cs) and B corporations in more and more states, choosing an organization type to achieve a charitable mission is no longer limited to nonprofits or for-profits. Learn from our expert panelists about what to consider when choosing a legal structure and the pros and cons of each form.
Marc J. Lane is the Founder of Marc J. Lane Wealth Group, based in Chicago, IL. He is a nationally recognized business and tax attorney who teaches Social Enterprise at Northwestern University School of Law and is an innovator in helping social entrepreneurs, investors, lenders, and philanthropists leverage capital to maximize financial results while driving positive social change. Marc championed Illinois' Low-profit Limited Liability Company (L3C) legislation, is a Director of Social Enterprise Alliance, and chairs its affiliate, The Center for Social Enterprise Accreditation. He is the author of 34 books on corporate organization, management, taxation, investment, personal finance, and social enterprise. Read more.
Ben Wirz is the director of business consulting for the John S. and James L. Knight Foundation based in Miami, FL, where he works with Foundation staff to develop programs based on realistic business plans. He also consults with select Knight grantees. Ben is a founder of US Global, where he helped take businesses from start-up to profitability. Read more.