A Jargon-Free Guide to Low-Profit Limited Liability Companies (L3C)
JUNE 1, 2017
In this blend, an L3C is a private organization that does earn profits, but only so that it can conduct business to help a certain cause. L3Cs were designed to make it easier for socially responsible businesses to attract money from foundations and private investors. Other examples have included farmers’ markets, newspapers, law groups and art centers. This is one of the requirements for L3Cs the law puts forth for this business model.