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- Title
VERMONT'S SOCIAL HYBRID PIONEERS: EARLY OBSERVATIONS AND QUESTIONS TO PONDER.
- Authors
Schmidt, Elizabeth
- Abstract
The article examines the experiences of the early adopters of a new business form called low-profit limited liability company (L3C) in the U.S. It notes that L3C is a for-profit organization that will retain the flexibility of a limited liability company (LLC). It states that L3C is expected to facilitate social investing from private foundations through program-related investments (PRIs) without threatening tax-exempt status. It explores the reasons why social hybrid pioneers chose the L3C over alternatives such as tax-exempt organizations or a traditional limited liability company (LLC).
- Subjects
UNITED States; PRIVATE companies; SOCIAL entrepreneurship; PROGRAM-related investments of endowments; INSTITUTIONAL investments; TAX exemption; NONPROFIT organizations; LIMITED liability; CHARITABLE giving
- Publication
Vermont Law Review, 2010, Vol 35, Issue 1, p163
- ISSN
0145-2908
- Publication type
Article