Benefit Corporation

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Benefit Corporation

A corporation in which the members of board of directors have the statutory duty to provide some tangible benefit to the community and/or the environment. In other words, a benefit corporation is not prohibited from earning and distributing profits, but is expected to do these other things as well. A benefit corporation is informally called a b-corp.
References in periodicals archive ?
Crossroads' subsidiary, Capital Plus Financial (CPF), is a certified Community Development Financial Institution (CDFI) and certified B-Corp which supports Hispanic homeownership with a long term, fixed rate single family mortgage product.
A biosphere community offers completely sustainable homes (little to no utility bills), while the local ski resort was the first in the world to qualify as a B-Corp.
Unlike the B-Corp movement, the Just program doesnt give official certifications.
As a mission-driven company and certified B-Corp, AeroFarms is proud to partner with local New Jersey grassroots organizations to create jobs, provide fair wages and promote a positive sense of community while empowering our workers to develop their skills and abilities.
Sundial Brands, a cruelty-free and certified B-Corp company with a Fair For Life social and fair trade certification, is the proprietor of SheaMoisture, a brand of hair care and skin care solutions.
In 2013, he founded Cotopaxi as a B-Corp (Benefits Corporation).
DGCL envisions that a B-Corp "shall be managed in a manner that
8221; He is the President and CEO of Raffa, PC, a B-Corp certified, national top 100 accounting, consulting and technology firm and founder of Companies for Causes, a collective of socially-conscious CEOs whose mission is to solve the problems of their community using targeted philanthropy and “hands-on engagement from member CEOs.
As a Certified B-Corp, where underwriting profits go to nonprofits, Lemonade is remaking insurance as a social good, rather than a necessary evil.
The company is a certified VMware service provider, SSAE 16 Type II and HIPAA compliant, as well as a Certified B-Corp and EPA Green Power Partner.
So states began passing B-corp laws to protect a corporation's officers and directors from being sued when the company expanded its fiduciary duty to include social or environmental responsibilities.
Earlier this year, the company announced it received pending B-Corp status, hired senior insurance executives and behavioral economist Professor Dan Ariely, and set records with its Sequoia and Aleph VC funding.