Nonprofit Law Matters

Robert A. Wexler

Posts by Robert A. Wexler

Social Enterprise―Innovating through Impactful Partnerships

Posted in Grantmaking & Social Investing, Social Enterprise

OK.  I don’t know what the title of my post means either, but that is actually my point! Social enterprise is an emerging and developing business approach, whether accomplished through a tax-exempt organization, a traditional for-profit entity, or one of the newer hybrid forms―L3Cs, Benefit Corporations, or Flexible Purpose Corporations.  With new approaches necessarily comes new… Continue Reading

IRS Examinations—The Seven Stages of Grief

Posted in IRS, FTB & Attorney General Controversies, Private Foundations, Public Charities

Your 501(c)(3) organization received an IRS Form Letter 3611 in the mail.  It reads, “Dear Sir or Madam:  We plan to conduct an examination for the above periods on the date, time, and location indicated above.”  Attached to the form letter is an Information Document Request, or “IDR,” on IRS Form 4564.  It lists 10 to… Continue Reading

Social Enterprise Update: California Governor Signs Bills Creating Flexible Purpose Corporations and Benefit Corporations

Posted in Social Enterprise

Nearing the midnight hour on Sunday October 9, 2011, Governor Brown signed into law two bills that will both take effect on January 1, 2012.  Both of these bills will provide an opportunity to form for-profit corporations in California that also promote a social or charitable purpose.  Senate Bill 201 adds the Flexible Purpose Corporation… Continue Reading

Social Enterprise at Adler & Colvin

Posted in Social Enterprise

We have been working closely with clients, policy makers, and regulators to help shape the emerging world of for-profit hybrids.  For-profit hybrids include the Benefit Corporation in Vermont, Maryland, New Jersey, and Virginia, and the low-profit, limited liability company (L3C), which is now law in eight states and two Indian Nations.  We have been actively… Continue Reading