When I first heard about LC3’s – I was thrilled. Then I learned about B-Corps and again I said “eureka!” But alas BlueRiop Strategies is just not there yet. So I can at least say when we grow up we want to be a “Certified B! or an L3C!!”
Well, it used to be that the single bottom-line was all anyone cared about. Some still do. At BlueRio Strategies we honestly believe you can affect a triple bottom-line that is ROI (profit financially driven) but also ROP (Return on people and planet – not just investment of $$$.) The Triple bottom line = People. Planet. Profit In this we hope to make a difference in our community and in the world. A sustainability entrepreneurship of sorts –responsible and sustainable – especially when it comes to social impact. Until we grow up – we hope to service those that have already chosen their path – other B-Corps and Lc3s… So what are these structures?
What is a B-Corp?
I stumbled upon this site: B-Corporation
“B-Corporations are a new type of corporation which uses the power of business to solve social and environmental problems. B Corps are unlike traditional businesses because they:
• Meet comprehensive and transparent social and environmental performance standards;
• Meet higher legal accountability standards;
• Build business constituency for good business
What a great way to help improve triple bottom line goals.
And what is an L3C? Per Marc Lane – an expert in the field:
“The “low-profit limited liability company” (L3C) is a new, hybrid business form which can leverage foundations’ program-related investments to access trillions of dollars of market-driven capital for ventures with modest financial prospects, but the possibility of major social impact.
An L3C can have different classes of investors – - individuals, nonprofits, for-profits, and even government agencies. But foundations, primarily seeking social payoffs, take the lion’s share of economic risk yet content themselves with below-market financial returns. No wonder for-profit investors, seeing the risk-reward tradeoff shifted dramatically in their favor, eagerly commit their capital and expertise to investments they would otherwise reject out of hand. “Marc is the force behind Illinois’ Low-profit Limited Liability Company (L3C) legislation, and has been instrumental in promoting L3C legislation in other states.” says Intersector L3C Partners.
So all depending on what BlueRio Strategies evolves into when it grows up – I dream that it will make lasting impact socially at large levels!