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- Title
NEW LEGAL STRUCTURES TO ADDRESS THE SOCIAL CAPITAL FAMINE.
- Authors
Wood, Arthur
- Abstract
The article discusses the legal structures that play an important role in addressing the social capital famine in the G-7 countries, particularly the U.S. It notes that foundations are experiencing a 30-35% drop in funds owing to the global financial crisis, government expenditure cutbacks and fewer corporate donations. The author suggests the current legal structure in place to address social sector problems are not adequate and that a legal framework permitting collaboration between corporate, government and non-profit social entities is needed. It's noted that the low-profit limited liability company (L3C) model in the U.S. and community interest company (CIC) model in the United Kingdom are mechanisms that will bring additional capital and corporate expertise into the marketplace.
- Subjects
UNITED States; COMMERCIAL law; INFRASTRUCTURE (Economics); GROUP of Seven countries; GLOBAL Financial Crisis, 2008-2009; NONPROFIT organization finance; PRIVATE companies; PUBLIC spending; PENSIONS; FINANCE; ECONOMICS
- Publication
Vermont Law Review, 2010, Vol 35, Issue 1, p45
- ISSN
0145-2908
- Publication type
Article