Letter From The Creator of the L3C
When I first created the concept of the L3C, I was hoping to make a modest change in the way that the philanthropic
community approached the solution to social problems. I was not prepared for either the economic changes that hit
us in 2008 and 2009 or the significant hunger for a better way to solve our societal problems. I put my ideas on paper.
Tom Blaney, of O’Connor Davies Munns and Dobbins, one of the first invited respondents told me, "You might just
The vision was straightforward: As a variant form of the widely accepted LLC, the for-profit L3C would operate at the
intersection of for-profit and nonprofit enterprises. Under its state business charter, the L3C would be required to have
a primary goal of performing a socially beneficial purpose, not maximizing income.
We began the building of the extensive, high quality network of professional colleagues required to move the L3C
from great vision to substantive reality. Take a few minutes to read the history section; the contributions of this first
group of bright co-creators added high value and viability to the L3C. We are indebted to them.