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OnDemand Webinar

Low-Profit Limited Liability Company Fundamentals

A low-profit, limited liability company (L3C) is a for-profit limited liability company that pursuant to its state organizational documents must have a primary goal of significantly furthering one or more exempt purpose(s), rather than maximizing income or the appreciation of capital. As a hybrid organization, an L3C straddles two often diverging areas of law. While the L3C has great potential, it also has potential pitfalls for the unwary. This OnDemand Webinar will provide an excellent introduction to the L3C so that participants will be able to identify if the L3C is the right vehicle for them.


Runtime: 89 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

L3C Basics

  • Origins of the L3C
  • The Program Related Investment
  • State Formation Issues
  • Fiduciary Duties
  • Proposed Federal Legislation

Issues for Investors

  • Private Foundations
  • Public Charities
  • Donor Advised Funds
  • Potential Securities Concerns

What to Think About Before Forming an L3C

  • Purpose
  • Business Plan
  • Types of Potential Investors

Comparison With Vehicles for Social Enterprise

  • Benefit Corporations (And LLCs)
  • Flexible Purpose Corporations
  • Charitable LLC
  • Foreign Models
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on December 14, 2011.

Call 1-866-352-9540 for further credit information.

No Credit Available

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Elizabeth Carrott Minnigh

Buchanan Ingersoll & Rooney

  • Counsel in the Washington, D.C. office of Buchanan Ingersoll & Rooney PC
  • Tax attorney, with a focus on charitable organizations, trusts and estates, art law and family-owned businesses, and serves as co-chair of the firm’s Nonprofit Organizations Group
  • Frequent lecturer on topics relating to the L3C, nonprofit organizations and estate planning
  • A regular contributor to BNA/Tax Management on a wide variety of issues, including articles on L3Cs, family foundations and trust protectors
  • Co-chair of the communications committee for the Washington, D.C. Estate Planning Council, and is also co-editor of its newsletter and member of the ABA Tax Section and Real Property, Trust, and Estate Law Section
  • Board member of Naumburg Orchestral Concert, which puts on free concerts in New York City’s Central Park
  • J.D. degree, University of Pennsylvania; L.L.M. degree, New York University; B.A. degree in history, with highest honors, and studio art, Kenyon College
  • Can be contacted at [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 389047
Published 2011
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