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 have it."

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.