Another Option for California Social Entrepreneurs
The California Social Purpose Corporation
Unlike their cousin, the Benefit Corporation, the California Social Purpose Corporation is not required to have a purpose of creating general public benefit, nor are they required to prepare assessments based on third party standards.
Further, their directors are not required to consider any particular public benefit related factors when addressing proposed actions, and there are no provisions authorizing benefit enforcement proceedings.
Social Purpose Corporations as also more flexible in nature, and can sometimes be utilized as a variant of both “Professional” and “Close” corporations. We offer a complete, start-up package on a fixed fee basis for new Social Purpose Corporations.
Our Flat-Fee Package Includes:
- One on one consultation with an experienced Social Enterprise Attorney;
- Reserving the Desired Name with California Secretary of State;
- Drafting and Filing Custom Articles of Incorporation as a California Social Purpose (SPC) Corporation;
- Drafting of Custom Bylaws, Tailored to Social Purpose Corporations;
- Obtaining Federal Employer Identification Number (FEIN);
- Filing of Statement of Information with California Secretary of State;
- Corporate Binder, with Required Statement on Share Certificates;
- Filing of a Limited Offering Exemption Notice (LOEN) with the California Department of Business Oversight;
- Preparing and submitting Form 2553, s-Corporation election if desired;
- Providing an Operational Memo and Calendar, so you get off to the best possible start.
The flat-fee we charge for a new Social Purpose Corporation is less than you might think.
Schedule a 30-Minute In-Depth Strategy Session to speak with an experienced and knowledgeable attorney to learn more about our flat-fee packages.