An
L3C is a limited liability company formed to attract investment from both the private and nonprofit sectors.
Taylor, supra note 2, at 761 (depicting
L3Cs as middle ground between for-profit and nonprofit companies); Munch, supra note 19, at 175 (noting investor preference for corporate over
L3C form); Felicia R.
according to an
L3C that tracks the creation of these entities there are
It is on the back of its
L3C mantra that Aerospace One has begun operations.
The Camden portfolio is one of the largest multifamily sales in Missouri in 2012, according to Jonathan Leifer, a principal of
L3C Partners, a private New York based real estate investment firm specializing in multifamily residential properties.
He's quick to explain the
L3C, happy to be an ambassador for a relatively new corporate entity that he thinks could be a real game-changer for social entrepreneurs and foundations alike.
Before the IRS released Revenue Ruling 88-76 and its check-the-box regulations in 1997, an LLC--just like an
L3C today--was viewed as an unfamiliar and confusing business structure.
Although there has been some coordination of
L3C legislation with federal rules in the U.
29, 37 n-29 (2011) ; see also John Tyler, Negating the Problem of Having "Two Masters": A Framework for
L3C Fiduciary Duties and Accountability, 35 VT.
Box 23041, RPO Seaway Mall, 800 Niagara Street, Welland, Ontario
L3C 7E7 or using Canada Helps at http://www.
Individuals or entities may be members of an
L3C with rights in governance and to distributions.
legislation in April 2008 to create the
L3C, a low-profit, Limited
