Americans for Community Development, the professional organization for L3Cs


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	• Tweaking the PRI - by Elizabeth Carrott Minnigh, Counsel with D.C. Office of Buchanan Ingersoll & Rooney P.C. November 16, 2011 • Unleashing the Power of Social Enterprise - by the Right Honourable Paul Martin P.C., M.P., former Prime Minister of Canada Released November 8, 2007 • Analysis of L3C and CIC Social Enterprise Models - by Stacey Corriveau, Director, British Columbia Centre for Social Enterprise formerly Fraser Valley Centre for Social Enterprise Published 2008 • Four Revolutions in Global Philanthropy, Impact Ecomoy Working Paper Vol.1 - by Maximilian Martin, 2011 Philanthropy is currently undergoing four revolutions in parallel. This paper identifies and analyzes the four main fault lines which will influence the next decades of global philanthropy. All are related to what we can refer to as the market revolution in global philanthropy. As global philanthropy moves beyond grantmaking, into investment approaches that produce a social as well as a financial return, this accelerates the mainstreaming of a variety of niche activities. They marry effectiveness, social impact, and market mechanisms. • The Social Enterprise LLP - What Is It; And What Is It For? - by Stephen Lloyd, Senior Partner at Bates Wells & Braithwaite London LLP in London, England What is the SELLP? By one of the authors of the SELLP law. • Navigating the New World - by Nathan F. Harris, Drew P. Murray, John C. Burkhardt This report, Navigating the New World of Social Impact Investing, examines the recent philanthropic innovation of mission-related investments (MRIs) and specifically low-profit limited liability companies (L3Cs). • The Future of Philanthropy - Hybrid Social Ventures - by Roxanne Phen Very comprehensive independent analysis of the L3C • Adding another Trick To Your Bag of Tricks - by Elizabeth Carrott Minnigh, Esq. of Buchanan Ingersoll & Rooney PC • Arkansas Legislative Taskforce on Reducing Poverty and Promoting Economic Opportunity, Final Report, November 2010 - The Task Force recommends enactment of L3C legislation in Arkansas. • L³C: Beyond Greenwashing The L³C, a hybrid for-profit and nonprofit business structure, combines success with social good. - by Erin Shaver, published in Denver Magazine, December 2010 • Social Entrepreneurs Use Low-Profit Limited Liability Company (L³C) To Implementing University Research - by Nancy I. Clement, The Burton D. Morgan Center for Entrepreneurship, Purdue University; Robert M. Lang, Jr., CEO, Mary Elizabeth & Gordon B. Mannweiler Foundation, Inc.; and Udaiyan Jatar, CEO, Blue Earth Network, published by Journal of Small Business and Entrepreneurship 23, June 2010 This paper describes the exploration of the L3C for use with university intellectual property. • Respecting Foundation and Charity Autonomy: How Public is Private Philanthropy? - by Evelyn Brody and John Tyler, published by the Chicago-Kent Law Review, Volume 85, Number 2, 2010 titled Symposium on the Law of Philanthropy in the Twenty-First Century, Part I. John Tyler is a Working Group chair for ACD. • The Challenge of Turning Brown to Green: Rejuvenating Commercial Buildings - by Michael Zimmer and Jennifer Rohleder for BNA, Inc. Real Estate Law and Industry Report, August 2010 Michael Zimmer is Chair of the Sustainable & Alternative Energy Working Group for ACD • Vermont’ Social Hybrid Pioneers: Early Observations and Questions to Ponder - by Elizabeth Schmidt, Vermont Law School Legal Studies Research Paper, August, 2010 Article examines the experiences of the early adopters of the L³C business form. • Who is the L³C Entrepreneur? The pioneers of social enterprise’s revolutionary new suffix. - by Caryn Capriccioso and Rick Zwetsch, principal partners in interSector L³C and Erin Shaver a freelance writer, May 2010. • Enlightened Capitalism and L³Cs - by Susan A. Maslow and Timothy White of Antheil Maslow & MacMinn, LLP for New Jersey Lawyer magazine, April 2010 • ABA Section of Taxation - Comments on Proposed Additional Examples on Program-Related Investments - Submitted to the IRS on March 3, 2010 - "We believe that, if a particular loan to, or investment in, an ordinary LLC would qualify as a PRI, then, a fortiori, a loan to, or investment in, an L³C should also so qualify. " • The L³C: A potentially useful tool for promoting charitable purposes - by Marcus Owens and John Tyler for the Community Dividend a publication of the Federal Reserve Bank of Minneapolis. November 2009 • Council On Foundations Legislative Agenda 2010 - Please note that the Council supports our Philanthropic Facilitation Act of 2010 which accomplishes the goals outlined under their heading Program-Related Investments (PRIs) Promotion Act, listed under Other Legislative Issues. • The L³C: The For-Profit with the Nonprofit Soul - by Carol Coren and Robert M. Lang for Bridges a publication of the Federal Reserve Bank of St. Louis, Winter 2010 • The L³C: A new business model for socially responsible investing - by Sue Woodrow and Steve Davis for The Community Dividend, a publication by the Federal Reserve Bank of Minneapolis, November 2009. • Low-Profit Limited Liability Companies: An Unlikely Marriage of For-Profit Entities and Private Foundations - Washington DC for the Tax Management Estates, Gifts and Trusts Journal, September 2009 • The L³C: A More Creative Capitalism - by Jim Witkin, January 2009. • Viewpoints 2008, Building Change Communities - UBS Philanthropy Services, 2008 – See page 54 for their discussion on the L3C and CIC • Funding for Non Profits is Changing - by Joyce Tsai, Dallas Business Journal, October 2008 • L³C - The Next Generation of Small Biotech? - by Chris Larson for the American Chemical Society, October, 2008 • A Push for Investments Instead of Grants – New approach could ease launch of youth projects. - Article written by John Kelly for the September 1, 2008 edition of Youth Today newspaper Please note that access is free for this article but we recommend that anyone interested in the youth service field should consider subscribing to Youth Today. • The Lane Report September, 2008 –L³C s Hold Key To Solving State’s Social Woes - by Marc J. Lane, September, 2008 • The Chronicle of Philanthropy, "New Business-Charity Hybrid Sought" - In this March, 2008 article published by the Chronicle of Philanthropy, the L³C is featured as a new business-charity hybrid. • F4F Finance for Foundations - Paper by Dr. Maximilian Martin, Executive Director, Global Head Philanthropy Services UBS and Arthur Wood, Social Financial Services, Ashoka. This paper lists the L3C as one of the two most promising world wide concepts for bringing more money into the social capital market place. June, 2007 • The Aspen Institute - In a January 2007 report published by the Nonprofit Sector Research Fund, author Thomas Billitteri discusses the need for a new legal entity for social enterprise (see p.13). • The New Efficient Frontier - Brian Dunn of Acquillian Investments has written a very provocative paper on Modern Portfolio Theory - The Efficient Frontier in 3D. It provides an underlying philosophical basis for the L³C. 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