Social Enterprise

Nonprofits and other social enterprises are no different than ordinary for-profit businesses. Often times because these businesses serve a charitable purpose they are not thought of as a business but they face the same issues. While the sources of income and customers served might be different than a for-profit business, these social enterprises and non-profit corporations are every bit the business as their counterparts.

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Formation is a vital time for a nonprofit corporation or other social enterprise. With recent developments like the low-profit company or L3C, there are more options for those that are looking to help their community. The low-profit or L3C offers a business the ability to serve its community but the flexibility to receive investments from foundations so that they can reach a larger portion of the community. Low-profit businesses or L3C’s have also created some new avenues for foundations to meet their pay out requirements. The Business Law Group will analyze what the entity’s goals are and help advise whether a traditional non-profit corporation is the best fit or a L3C might be better.

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Social enterprises and non-profit corporations also face a myriad of regulations and requirements. These requirements are vital to help ensure the special IRS status these entities are granted. Not only can The Business Law Group help you gain these special statuses, such as 501(c)(3) status, but we can help guide you through the legalese and complexity of these regulations to help your non-profit or L3C status.

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On top of these special issues that social enterprises and non-profit corporations face, The Business Law Group can help guide these entities through the issues that all other businesses face. These businesses need contracts, purchase real estate, hire employees, and so much more. Wrong steps in these areas can have a great impact on just how much your social enterprise or non-profit can do.