Our passion is equipping entrepreneurs to make a difference in this world and contribute to our community's flourishing. Social entrepreneurship is the use of techniques of startup companies and other entrepreneurs to develop, fund and implement solutions to social, cultural, or environmental issues. This can be accomplished through a variety of organization types, including the following:
Nonprofit Organization
Stand-alone nonprofit organizations include 501(c)(3) public charities or private foundations, or 503(c)(4) social welfare organizations.
Social Enterprise Legal Forms
These entity types are hybrid legal forms who have a both a profit motive and a social/charitable motive. A few of the legal forms available include low-profit limited liability companies (L3Cs), public benefit organizations (B-corporations), and flexible purpose corporations.
Multiple Entity Hybrid Social Enterprise
These social enterprise structures utilize multiple entities to achieve social and for-profit objectives. This structure includes nonprofit organizations with a for-profit subsidiary or a nonprofit organization with a for-profit sister company.
For-profit entities with social responsibility objectives
Although for-profit entities are most often concerned with maximizing shareholder value, they do have a unique position and opportunity in the marketplace to make a substantial social impact. We assist clients in developing social responsibility programs and policies for their company and advise for-profit companies on legal mechanisms available to balance their for-profit objectives while having a structured social program in place.
The legal and financial rules governing these types of entities present unique challenges and opportunities. We are here to help. Our social entrepreneurship services include drafting formation documents, drafting and reviewing business agreements, mergers and acquisitions between different entity types, consultation on corporate governance, oversight rules and related best practices, and advising on issues of preserving 501(c)(3) status.