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Benefit corporation or public-benefit corporation, for profit but with positive impact Public-benefit nonprofit corporation , chartered by a state government New York state public-benefit corporations , quasi-governmental authorities
First, the firm should choose one or more specific public benefit projects that it will pursue. Next, the articles of incorporation should be amended to state at the beginning that the firm is a public benefit corporation. The term public benefit corporation (PBC) or another abbreviation may be added to the entity's name if the founders choose.
A public-benefit nonprofit corporation [1] is a type of nonprofit corporation chartered by a U.S. state government and organized primarily or exclusively for social, educational, recreational or charitable purposes by like-minded citizens.
Public benefit corporations, also known as benefit corporations, are for-profit businesses whose charters commit them to social or environmental missions, not just maximizing shareholder value.
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
This is a list of benefit corporations This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by adding missing items with reliable sources .
Public benefit corporations based in the United States (3 C, 12 P) P. Port authorities (10 C, 72 P) Pages in category "Public benefit corporations"
Religious corporation articles need to have the standard tax exempt language the IRS requires. Religious corporations are subject to less rigorous state and federal filing and reporting requirements than many other tax-exempt organizations, such as mutual benefit nonprofit corporations, or public benefit nonprofit corporations. [2]