A Jargon-Free Guide to Low-Profit Limited Liability Companies (L3C)
JUNE 1, 2017
An L3C, though, is a hybrid of an LLC and nonprofit business model, which is where an organization operates to benefit the general public without shareholders and without a profit motive. 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. Other examples have included farmers’ markets, newspapers, law groups and art centers.