Jtm-pnw-l3c-corporate

The L3C: Can the corporation learn to achieve profits and social purpose?

These are Bill Densmore's notes for a breakout session at Journalism that Matters-Pacific Northwest.

Background links

The WikiPedia page on L3C's:

• http://en.wikipedia.org/wiki/Limited_liability_company

A list of the key features of the L3C:

• http://newshare.com/wiki/index.php/L3c-vermont-background

Robert Lang: Originator of the L3C idea:

• http://www.rjionline.org/projects/densmore/stories/info-valet/stories/l3c/index.php

Home page for his AmericansForCommunityDevelopment.org:

• http://www.americansforcommunitydevelopment.org/

Jim Barnett talking about the L3C on his blog:

• http://journalismnonprofit.blogspot.com/2009/08/whither-l3c.html

Bill Mitchell covers the L3C phenomenon in a PoynterOnline piece: http://www.poynter.org/column.asp?id=131&aid=159320

Jim Barnett on NiemanLabs.org talks about the L3C for newspapers:

• http://www.niemanlab.org/2009/08/whats-keeping-news-organizations-from-trying-the-low-profit-model

ANOTHER VIEW: L3C benefits seen as available already:

• http://philanthropy.com/giveandtake/index.php?id=1188

Here's the Vermont law, which was the first:

• http://www.sec.state.vt.us/corps/dobiz/llc/llc_l3c.htm

Now law in Illinois:

• http://www.chicagotribune.com/business/columnists/chi-mon-minding-l3c-aug10,0,5321379.column

A 2005 study of ownership forms:

• http://www.mediagiraffe.org/node/230

VIDEO: Building a corporation with a social mission:

• http://newshare.typepad.com/newshare/2009/04/building-a-profitmaking-company-with-a-social-mission.html

Chris Miller, community outreach coordinator of the Skandalaris Center for Entrepreneurial Studies at Washington University in St. Louis, describes the form, which some people are saying might be a future structure for newspapers. Miller is at 314-935-6906 (clmiller@wustl.edu

Americans for Community Development
L3C ADvisors Inc.
P.O. Box 236
Granite Springs, New York 10527
(914) 248-8443
Inquiries may be directed to:
info@americansforcommunitydevelopment.org