10th Annual Symposium - February 18 & 19, 2010
Corporate Creativity: The Vermont L3C & Other Developments in Social Entrepreneurship
The Symposium Edition…
We are currently seeking contributions for the Symposium Edition that will be published following the February event. In order to meet our Fall 2010 publication date, proposals should be submitted by October 31st and drafts by December 31, 2009. The following authors and topics have been confirmed and we are excited for you to add further insight into this area.
Betsy Schmidt, VLS Professor
As a professor of nonprofit and faculty sponsor for the
symposium, Betsy Schmidt has been tracking the impact of the L3C. Her
article will assess the motivations of L3C entrepreneurs
and survey the success of these infant organizations.
Robert
Lang, Creator of the L3C
Mr. Lang's article will outline the next developmental phase for
the L3C. He sees this step as encompassing the use of profitable
businesses to provide a social benefit, rather than the
conversion of social enterprises to for-profit organizations. He
holds a personal belief that too much time, energy and money is
devoted to nonprofit governance when free enterprise and
entrepreneurship could be used to solve many of our social
problems. His article will describe how the nonprofit sector can
ultimately be confined to addressing only the problems that
require donated dollars.
Marcus S. Owens, Tax-Exempt
Organizations Attorney
Mr. Owens's article will offer assurance to
foundations that are hesitant to invest in L3Cs for fear of
negative IRS treatment. By reviewing the historical IRS view of
ventures with structures similar to the L3C model, he will add
certainty to the treatment of the new organizational form.
John
Tyler, Foundation Counsel
An L3C organization requires uniquely
structured fiduciary duties in order to ensure proper IRS
treatment. Mr. Tyler’s article will outline those duties and
offer guidance for L3C entrepreneurs in drafting their
incorporating documents and in developing their organizational
policies.