Are for-profit companies incentivized to do good? Specifically, does the law incentivize the creation of Social Purpose Corporations? We’ve talked a lot about Social Enterprises on this blog. I encourage you to take a look at some past posts for a rundown of what they are. As a quick reference: Social Purpose Corporations, or SPCs, are for-profit companies that can be driven by socially responsible goals (i.e. environmental stewardship, immigration rights, etc.) at the expense of the bottom line of shareholders.             To date, there are very few “active” incentives for those who wish to set up SPCs. “Active......


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March 12, 2018

Updates to the 1023

In December 2017, the IRS released the new 1023 Application for Recognition of Exemption (often referred to as the “1023”): the form by which nonprofits can apply for 501(c)3 tax-exempt...