Social Work, Inc.: How Benefit Corporations Grow Your Business With Social Responsibility

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Thank you for sharing!

This article was very informative. Thank you for your transparency in the start up process and the suggestions offered.

Kayla Harris 64 days ago

Glad to see social workers exploring social enterprise

Great article! I teach social entrepreneurship to social workers, and legal entity selection is one of the topics that I cover. A few clarifications are needed for social workers thinking about establishing a benefit corporation. First, they're not offered in all states. Second, they're for-profit entities which means your social venture must have an earned revenue model, and not be reliant on grants from foundations or contributions from individual donors. Foundations may make program related investments in benefit corporations or L3Cs, but they do not make grants to them. Third, another option is a hybrid model, a for profit and nonprofit corporation existing together to further a social mission, but this adds complexities including more legal and accounting costs and implications.

Marijo Upshaw 231 days ago

Thank you

Thanks for your comment, Marijo. Great to hear from you

SocialWorker.com 230 days ago

Tax Questions

Hi Marijo,

Is the benefit corporation similar to a 501(c)4 and in states that do not offer benefit corporations, will the 501(c)4 model be sufficient to do similar work?

Kayla Harris 64 days ago

Voting Is Social Work

Great gift book for social work graduates!

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