Publications

SLAM - Social Lending & Asset Management, A New Look at Social Impact Investing

- by Jack Howard Ackerman, Expansion Director, First Miami Student & Alumni Federal Credit Union, Oxford, Ohio; Published September, 2015

The first step is recognition of the potential for the creation of products which should become part of the mainstream of investing and the recognition of their role in creating a better society.

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DAFs. PRIs. L3Cs - Tools of Social Impact Investing.pdf

- by Robert Lang, Founder of Americans for Community Development and Michael Martin, Partner, Martin & Stillwell LLP. Published April, 2015

The use of for profit entities financed by both nonprofit and for-profit dollars provide a nongovernmental free enterprise way to solve many social issues while adding to the wealth of the populace rather than depleting government funds and herald a bright future.

This paper outlines an entirely different way to get a significant portion of the capital needed while providing a charitable deduction.

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The L3C as a Tranched Structure, The L3C as a Form of LLC

- by Robert Lang, Founder of Americans For Community Development, September, 2013, Updated 2/2017

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Clean Tech Investment and Finance - A Time For Reflection

- by Michael J. Zimmer, Executive in Residence, Ohio University, Voinovich School of Leadership & Public Affairs. Michael Zimmer is chair of the ACD Sustaintable & Alternative Energy Working Group. Published March, 2013.

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Energy and Efficiency Business Startup Guide

- by Michael J. Zimmer, Executive in Residence, Ohio University, Voinovich School of Leadership & Public Affairs. Michael Zimmer is chair of the ACD Sustaintable & Alternative Energy Working Group. Published September, 2012.

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L3Cs In The University - The Time Has Come

- by Michael J. Zimmer, Executive in Residence, Ohio University, Voinovich School of Leadership & Public Affairs. Michael Zimmer is chair of the ACD Sustaintable & Alternative Energy Working Group. Published July, 2012.

“The L3C may become an important vehicle for transitioning new business models for colleges and universities. Many universities are trapped seeking to provide economic development, community assistance, technology transfer, incubator development for new companies, and new job banks for the community and recent graduates. Bureaucracy, mission focus and funding constraints make the educational mission a challenge in these areas of service.”

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Introducing the L3C Presentation

- by Robert Lang, Americans For Community Development

Provides a detailed overview of the L3C - PowerPoint

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Who Is The L3C Entrepreneur?

- by InterSector Partners, L3C

Published Fall, 2012

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Building a Social Media Strategy for an L3C

- by Ericka Harney, May, 2012 – PowerPoint

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Were the Privateers Social Entrepreneurs

- by Roxanne Phen and Robert Lang of Americans For Community Development, May 2012

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The L3C A For-Profit with a Non-Profit Soul

- by Cassady V. Brewer, Partner, Morris Manning & Martin LLP, October 2009

A presentation made at The foundationn Center – PowerPoint

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Analysis of L3C and CIC Social Enterprise Models

- by Stacey Corriveau, Director, British Columbia Centre for Social Enterprise formerly Fraser Valley Centre for Social Enterprise

Published 2008

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Four Revolutions in Global Philanthropy, Impact Economy Working Paper Vol.1

- by Maximilian Martin, 2011

Philanthropy is currently undergoing four revolutions in parallel. This paper identifies and analyzes the four main fault lines which will influence the next decades of global philanthropy. All are related to what we can refer to as the market revolution in global philanthropy. As global philanthropy moves beyond grantmaking, into investment approaches that produce a social as well as a financial return, this accelerates the mainstreaming of a variety of niche activities. They marry effectiveness, social impact, and market mechanisms.

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The Social Enterprise LLP - What Is It; And What Is It For?

- by Stephen Lloyd, Senior Partner at Bates Wells & Braithwaite London LLP in London, England

What is the SELLP? By one of the authors of the SELLP law.

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Navigating the New World

- by Nathan F. Harris, Drew P. Murray, John C. Burkhardt

This report, Navigating the New World of Social Impact Investing, examines the recent philanthropic innovation of mission-related investments (MRIs) and specifically low-profit limited liability companies (L3Cs).

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The Future of Philanthropy - Hybrid Social Ventures

- by Roxanne Phen

Very comprehensive independent analysis of the L3C

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Adding another Trick To Your Bag of Tricks

- by Elizabeth Carrott Minnigh, Esq. of Buchanan Ingersoll & Rooney PC

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Arkansas Legislative Taskforce on Reducing Poverty and Promoting Economic Opportunity, Final Report, November 2010

- The Task Force recommends enactment of L3C legislation in Arkansas.

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Creative Applications For Charitable Entities, Including For-Profit LLC's and Corporations With a Non-Profit Purpose

- by Michael D. Martin of Martin & Stillwell, LLP, June 2010 - PowerPoint Presentation, June 2010

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Social Entrepreneurs Use Low-Profit Limited Liability Company (L3C) To Implementing University Research

- by Nancy I. Clement, The Burton D. Morgan Center for Entrepreneurship, Purdue University; Robert M. Lang, Jr., CEO, Mary Elizabeth & Gordon B. Mannweiler Foundation, Inc.; and

Udaiyan Jatar, CEO, Blue Earth Network, published by Journal of Small Business and Entrepreneurship 23, June 2010

This paper describes the exploration of the L3C for use with university intellectual property.

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Respecting Foundation and Charity Autonomy: How Public is Private Philanthropy?

- by Evelyn Brody and John Tyler, published by the Chicago-Kent Law Review, Volume 85, Number 2, 2010 titled Symposium on the Law of Philanthropy in the Twenty-First Century, Part I. John Tyler is a Working Group chair for ACD.

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The Challenge of Turning Brown to Green: Rejuvenating Commercial Buildings

- by Michael Zimmer and Jennifer Rohleder for BNA, Inc. Real Estate Law and Industry Report, August 2010

Michael Zimmer is Chair of the Sustainable & Alternative Energy Working Group for ACD

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Vermont' Social Hybrid Pioneers: Early Observations and Questions to Ponder

- by Elizabeth Schmidt, Vermont Law School Legal Studies Research Paper, August, 2010

Article examines the experiences of the early adopters of the L3C business form.

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Who is the L3C Entrepreneur?

- by Caryn Capriccioso and Rick Zwetsch, principal partners in interSector L3C and Erin Shaver a freelance writer, May 2010.

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Enlightened Capitalism and L3Cs

- by Susan A. Maslow and Timothy White of Antheil Maslow & MacMinn, LLP for New Jersey Lawyer magazine, April 2010

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ABA Section of Taxation - Comments on Proposed Additional Examples on Program-Related Investments

- Submitted to the IRS on March 3, 2010 - "We believe that, if a particular loan to, or investment in, an ordinary LLC would qualify as a PRI, then, a fortiori, a loan to, or investment in, an L3C should also so qualify."

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The L3C: A potentially useful tool for promoting charitable purposes

- by Marcus Owens and John Tyler for the Community Dividend a publication of the Federal Reserve Bank of Minneapolis. November 2009

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Council On Foundations Legislative Agenda 2010

- Please note that the Council supports our Philanthropic Facilitation Act of 2010 which accomplishes the goals outlined under their heading Program-Related Investments (PRIs) Promotion Act, listed under Other Legislative Issues.

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The L3C: The For-Profit with the Nonprofit Soul

- by Carol Coren and Robert M. Lang for Bridges a publication of the Federal Reserve Bank of St. Louis, Winter 2010

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The L3C: A new business model for socially responsible investing

- by Sue Woodrow and Steve Davis for The Community Dividend, a publication by the Federal Reserve Bank of Minneapolis, November 2009.

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Low-Profit Limited Liability Companies: An Unlikely Marriage of For-Profit Entities and Private Foundations

- Washington DC for the Tax Management Estates, Gifts and Trusts Journal, September 2009

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The L3C: A More Creative Capitalism

- by Jim Witkin, January 2009.

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Viewpoints 2008, Building Change Communities

- UBS Philanthropy Services, 2008 – See page 54 for their discussion on the L3C and CIC

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Funding for Non Profits is Changing

- by Joyce Tsai, Dallas Business Journal, October 2008

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L3C- The Next Generation of Small Biotech?

- by Chris Larson for the American Chemical Society, October, 2008

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The Chronicle of Philanthropy, "New Business-Charity Hybrid Sought"

- In this March, 2008 article published by the Chronicle of Philanthropy, the L3C is featured as a new business-charity hybrid.

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F4F Finance for Foundations

- Paper by Dr. Maximilian Martin, Executive Director, Global Head Philanthropy Services UBS and Arthur Wood, Social Financial Services, Ashoka. This paper lists the L3C as one of the two most promising world wide concepts for bringing more money into the social capital market place. June, 2007

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The Aspen Institute

- In a January 2007 report published by the Nonprofit Sector Research Fund, author Thomas Billitteri discusses the need for a new legal entity for social enterprise (see p.13).

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L3C UBS Presentation

- Robert Lang of the Mannweiler Foundation anad Marcus Owens of Caplin & Drysdale made a presentation at the UBS Philanthropy Forum in Lisbon, Portugal, July 2007. This is a supporting document.

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The New Efficient Frontier

- Brian Dunn of Acquillian Investments has written a very provocative paper on Modern Portfolio Theory - The Efficient Frontier in 3D. It provides an underlying philosophical basis for the L3C.

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Ericka Harney, Council of State Governments

Building a Social Media Strategy for an L3C

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