A wise social entrepreneur will consider alternatives for meeting his or her desired social good. While one alternative is certainly a nonprofit organization, a relatively new alternative that has become available is the benefit corporation.
A benefit corporation, or “B Corp,” is a for-profit company certified by the B Lab to meet certain standards of social and environmental performance, accountability, and transparency.
A non-profit corporation is a special type of corporation organized specifically to benefit (1) the public (2) a specific group of individuals, or (3) the membership of the nonprofit organization, but which has no stockholders and may not distribute ‘profits.’
For this assignment, conceive forming an organization to provide a philanthropic service to your community and decide whether to form a Nonprofit Corporation or a B Corp. In a paper, analyze the pros and cons of each and decide which you would choose to form.
