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The Philantrepreneur Journal: 1


Table of Contents

EDITOR Dr. Victoria Boyd President, the GALAXY group, llc PUBLISHER Theresa Goss Creative Director, TGo & Associates

4

Letter from the Editor

11

8

Meet the Team

13 Philantrepreneur Approach to Starting a Nonprofit

Contributing Writers Marilyn Donnellen Dr. Tamme Shinshuri Ralph Stalter ADS FOR A CAUSE Galaxy Publishing offers a unique advertising model with 10% of the profit collected from purchased ads is donated to charity. Have your marketing dollars have community impact with meaningful marketing. For advertising inquiries contact: GALAXY PUBLISHING 702-483-8354 or email info@thegalaxygrouplv.com 5500 Magi Ranch Ct. Las Vegas, NV 89131 A Division of the Galaxy Group, LLC

The Philantrepreneur Journal: 2

Dr. Tamme Shinshuri Marilyn Donnellen

An Overview to Business Philanthropy

Ralph Stalter

17 The Next Path and Generation of Doing Business

15

The Dynamic Development of Las Vegas Cultural Corridor


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Copyright © 2013 The Philantrepreneur™ a division of the GALAXY group, llc All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. For permission requests, write the publisher, addressed “Attention: Permissions Coordinator,” at the address below. Galaxy Group Publishing 5500 Magi Ranch Court Las Vegas, Nevada 89131 Legal disclaimer and terms of use. Although the Galaxy group, llc believes the content to be accurate, complete and current, the GALAXY group, llc makes no warranties as to the accuracy, completeness or currency of the content. It is your responsibility to verify any information before relying on it. None of the information contained herein should be construed as legal advice, nor is anyone associated with the GALAXY group, llc engaged in legal practice of law. If you need legal advice, please seek the advice of independent legal counsel. Publisher accepts no responsibility to return unsolicited editorial matter and all rights in portion published thereof remain the sole property of the GALAXY group, llc. Letters to the GALAXY group, llc or its editors become the property of the journal and are assumed intended for publication and republication in whole or in part, and may be used for this purpose. These letters may be edited for length, errors and clarity. The statements, opinions, and points of view expressed by contributing writers and advertisers are their own and do not necessarily represent the views of the publisher or editor. The Philantrepreneur Journal: 3


Letter from the Editor

Even in the desert a seedling can emerge. I’ve taught and supported nonprofits for many years and

y perspective through most of my career was clearly influ-

watched as they struggled. I asked

enced and driven by the nonprofit sector viewpoint. It was

myself, how can I help? At the

passion driven and all about ‘the cause’. However, with any

same time I was asking, what’s

cycle, life span or evolution, whatever your take on it, we all know time brings

next? In February 2013, I wrote

about change. The shift was made clear when I recently listened to Michael

my first blog and coined the term

Drew talk about the concept of his book, Pendulum, whom he co-authored

Philantrepreneur, a compilation of

with marketing guru Roy Williams. The concept is based on the theory that we

philanthropist and entrepreneur. You

oscillate between a civic-minded “We” society and an individual “Me” society.

might say, why didn’t you use philanthropreneur that was already in the

Currently, we are swinging from a “Me” society to a “We”. As noted by Drew, in

market place? I believe this concept has a shift and places more emphasis

2003 the pendulum began the shift and is now headed toward a society that

on the entrepreneurial component. As it emerged, the core resources are

will celebrate working together. Michael’s presentation and theory was based

focused on building strong business and management strategies.

on marketing trends and was an eye-opener for me. It helped explain some

Therefore, I am so excited to release the premier edition of The Philantre-

of the concepts oscillating within me. I had been delving more and more into

preneur Journal!! Dedicated to the growth, support and development of this

the for-profit, corporate world to learn more about their needs. In 2009 I was

movement that will revolutionize the way business is conducted for entre-

fortunate to attend a conference in Chicago that really solidified the con-

preneurs and nonprofits across the country. It is a new age as we witness the

cept. There must be a shared vision, the “We” is what I am seeking – working

maturing of cause marketing into an era of relationship building and partner-

together, building strong foundations. In addition, it was supported by the

ships to benefit the economic and social community.

numerous articles and research reports in the industry. The nonprofit sector

What you can expect

was struggling because of economic shifts and also because they were still living in the mindset of “Me” – their cause. Funding sources became harder and harder to secure as corporations already were making the shift to “We”.

The Philantrepreneur Journal: 4

In future editions you will gain insight and strategies on the various aspects of being a Philantrepreneur. Our contributing authors, Marilyn Donnellen, Dr.


TammĂŠ Shinshuri, and Ralph Stalter, Jr., are from across the country, leaders in their field and will add their own perspectives and viewpoints emanating from different vantage points. We will offer entrepreneurs and nonprofits, valuable information to build strong foundations for enduring success. We will also on occasion feature articles from guest authors, such as accountants and lawyers to provide a wide range of topics on business practices and implementation strategies.

Join us The Philantrepreneur Journal is just one benefit of membership in The Philantrepreneur community. The Philantrepreneur website, designed to attract other like-minded individuals, businesses and nonprofits encourages sharing, building relationships and creating partnership ventures – which is the foundation of being a Philantrepreneur. ThePhilantrepreneur.com will be a resource hub for training, products and services to take your organization to the next level. We would love your input as we travel through this journey. To submit letters to the editor or articles for consideration, please email: admin@thephilantrepreneur.com.

Dr. Victoria Boyd President, the GALAXY group, llc Executive Editor, The Philantrepreneur Journal

The Philantrepreneur Journal: 5


The Philantrepreneur Journal: 6


Guided by her own passion of helping individuals and organizations grow, Dr. Boyd authored, The Wealthy Teacher: Answering the Question, What’s next? Influenced by the evolving environment and her personal journey,

About the Editor

Dr. Boyd recognized the importance of keeping passion and values as the compass to guide your own journey. The book’s content supports anyone looking to answer the question “What’s next?” Delivered via mastermind

r. Victoria Boyd has been a driving force in education, non-

programs, seminars and personal coaching, participants evolve through an

profit and entrepreneurial endeavors as educator, trainer,

interactive process of self assessment to embracing an enterprising spirit to

administrator and advocate throughout the country. Through

launch an entrepreneurial endeavor with social enterprise at its core.

her companies she provides guidance and training in organizational management, individual coaching and business development.

Dr. Boyd’s emphasis on nonprofits and entrepreneurs was the inspiration behind coining the term Philantrepreneur. Now a brand recognized for

As President and Founder of the GALAXY group, llc., Dr. Boyd began her

empowering non-profits and business to build partnerships for win-win

career as a dance teacher which eventually transitioned into roles such as writer

impact. The brand consists of a digital publication, The Philantrepreneur

for district and state curriculum, city-wide dance coordinator, professional

Journal, an internet radio show and an interactive website which serves as

development trainer, and coordinator of numerous city and state events.

the hub for information and resources.

Recognized as a leader, she was offered and accepted the position of Arts/

Dr. Boyd’s long career in education

Education Consultant for Wayne County Regional Educational Service Agency

and the non-profit sector has provided

(Wayne RESA), serving 36 school districts and numerous charter schools.

her with a scope of experiences that

In this position she developed professional training, teacher certification

has made her a valuable resource. A

standards and other statewide educational initiatives. Concurrently, she was

dynamic trainer and coach her goal is

highly involved in the nonprofit sector, serving in capacities such as founder,

to help others recognize that passion

board member, president and interim executive director. After retiring from

combined with purpose can be the

education, equipped with this wide array of skills, her entrepreneurial spirit

compass that creates new rewarding

emerged, she launched the Galaxy group.llc and now serves entrepreneurs

paths and opportunities.

and nonprofits as a coach and mentor. The Philantrepreneur Journal: 7


Meet the Team! Columnists Say welcome to our contributing columnist for The Philantrepreneur Journal. They will provide articles each edition on different aspects of their involvement as a Philantrepreneur, concepts and approaches for either an entrepreneur or nonprofit and support on how to evolve into a sustainable organization.

Marilyn

L.

Donnellan

vices, LLC (NMS).  The firm works with others con-

more than 30 years ago,

sultants, authorized dealers and associations in the

left a journalism career

United States and Canada who use and sell NMS

to serve as the executive

materials. 

director of a single-staff

Donnellan has written three books and training

United Way. During her

modules in use internationally: “Core Elements of a

tenure with United Way,

Successful Nonprofit,” “The Hour Series of Guides

she spearheaded resource

for Nonprofit Management,” and “The Complete

development and com-

Guide to Church Management.” She is currently

munity capacity building

working on three books for the publisher, Charity

strategies in primarily small

Channel, for a series, “Nonprofit Management Sim-

to mid-sized communities in progressively larger

plified,”  which will be published in 2014.  One of

organizations in Washington, Oregon, California

her books is translated into the native language of

and West Virginia. She also served as the president

the Republic of Malawi, Africa.

and CEO of the United Ways of Texas, a membership association specializing in training and public policy advocacy for the nonprofit sector.  In January of 2000 she started her own nonprofit consulting firm, Nonprofit Management SerThe Philantrepreneur Journal: 8

Marilyn has a master’s degree in administration and a B.A. in Human Resources Management. For more information:  www.nonprofitmanagementservices.com, or you can contact her at marilyn157@aol.com.


Dr. Tammé Shinshuri is the living embodiment

Ralph Stalter grew up as the oldest of 7

of the principles she brings to the world, which

children in Pittsburgh, PA, where he gradu-

is to live as an expression of unconditional love

ated from Duquesne University with a BA in

and to be in direct deliberate action about her

Speech & Communications. He went on to

life purpose and desires.

earn his MFA in Acting from the School of

Her goal is to create with real intention each day through her devotion to live and be in phil-

Theatre at Boston University, and to do postgraduate work in Arts Administration at Columbia University.

anthropic service for the expansion and evolu-

He was fortunate enough to enjoy a 15-year theatrical career, though

tion of humanity through educational empower-

most of that time was spent in executive level positions with performing arts

ment.

organizations and nonprofit theaters -- including the role of Managing Direc-

Dr. Shinshuri is a business philanthropist de-

tor with three distinct members of the League of Resident Theatres (LORT).

voted to human evolution. Her vision and mission is to ensure that more peo-

Before relocating to Las Vegas in 2010, Ralph lived in New York City for 30

ple, through authentic living and vocational and leadership development, are

years, pursuing his “second career” as an information systems training profes-

able to live empowered by eliminating the excuses that can get in the way of

sional in the healthcare, legal, banking, and insurance industries. He contin-

their human evolution and personal prosperity.

ues to work in technology in Las Vegas, where he serves as a Physician Sup-

Her first book Super Conscious Model for Living was published in 2011

port Coordinator with Sunrise Health Hospitals, where he enjoys cultivating

to support the Personal Transformation Leadership program at OT Academy.

the spirit of life-long learning and community service among his colleagues,

Her newest book Expressions of Unconditional Love and the music CD to ac-

clients and partners.

company the book is also featured subject matter text for the Personal Transformation Leadership program.

Ralph is excited about returning to his theatrical roots as a consultant with Nevada’s first and only member of the prestigious League of Resident The-

Dr. Shinshuri plans to release her newest book Chosen to Lead: My Jour-

atres (LORT), Nevada Repertory, the sister company of Las Vegas Shakespeare

ney of Personal Mastery and How to Reactivate Your Divine Connection in

Company. He has recently been appointed Chairman of the Advisory Board

2014. Dr. Shinshuri lives in Sacramento, California where she continues to live

of the Cultural Corridor Theatre Center, which will transform the former Reed

out her life purpose as a prolific writer, business philanthropist, producer, and

Whipple Cultural Center into a permanent home to many nonprofit arts orga-

speaker. Her website is www.shinshuri.com

nizations in Southern Nevada.

The Philantrepreneur Journal: 9


888.639.9670 路 www. ipowerpay.com/#903092

The Philantrepreneur Journal: 10


An Overview to

Business Philanthropy

By Dr. Tammé Shinshuri This article is the first in a series of articles to discuss business philanthropy. What is business philanthropy? How can it be utilized for the new federal tax structure that has been established to allow entrepreneurs and philanthropist create more socially beneficial enterprises?

Dr. Tammé Shinshuri, founder and president of Shinshuri Foundation is a business philanthropist, author, producer, and speaker. She works tirelessly to live empowered and helps others live empowered too. www.shinshuri.com

The Dilemma…

Traditionally non-profit and for-profit entities have been separate and diametrically opposed business structures. This led to business professionals¬ traversing two different paths to accomplish their vision, mission, and purpose. It also required them to choose between being an entrepreneur or a philanthropist. Entrepreneurs have the option to use a profit tax structure (e.g. sole proprietor, C-Corp, S-Corp, or LLC) to achieve your business goals. Philanthropists have a single non-profit tax structure, commonly known as the 501(c)(3). Entrepreneurs where given the ability to make money. Philanthropist could not make money or only enough to maintain business operations. Under the current taxing structure regulated by the Internal Revenue Service (IRS), this placed huge limitations on business professionals and philanthropists who had a desired to give and serve for a greater cause or social good. The limitations of the 501(c)(3) made it impossible for non-profit organizations to generate the income to maintain day-to-day business operations. It made it untenable for investors and other types of business professionals to work with non-profit business entities in a way that they could receive a return on their investment. Ultimately, non-profit entities suffered for lack of alternative ways beyond grants, sponsorships and donations to generate enough sustainable revenue to maintain business operations.

The Philantrepreneur Journal: 11


L3C and Americans for Community Development

What is Business Philanthropy? While much work has been done to bring the L3C tax structure to life, very

In 2001, Americans for Community Development (ACD) a non-profit

little effort in the area of implementation and leadership has been planned

organization started working with the IRS to create a new taxing structure.

or developed. There are few options, if any, available to entrepreneurs and

This new tax structure is the low-profit limited liability (L3C) corporation.

philanthropists for how to start using the L3C to start a new business or

The L3C is a legal business entity in the United States that was created to

convert their existing business to this type of structure.

bridge the gap between non-profit and for profit investing. An L3C is a for-

Business Philanthropy is an integrative, income generating business

profit, social enterprise venture that has a stated goal of performing a socially

operations model. It focuses on helping entrepreneurs and philanthropists

beneficial purpose while receiving a financial return.

identify, plan, develop, and implement revenue-generating solutions. It

Today, entrepreneurs and philanthropist have an alternative taxing

is a bridge that closes the gap that exists in securing investment funding

structure available to them that they can use to create great organizations

and attaining long-term profitability in any socially beneficial enterprise or

with dual operations.

business venture.

Legislation

Dr. TammĂŠ Shinshuri founder and president of Shinshuri Foundation

The L3C corporate structure has gained momentum across the United

created a model and leadership program called Business Philanthropy.

States. Legislation has passed in several states and Indian reservations

It aligns with the new L3C tax structureand shows entrepreneurs and

including: California, Connecticut, Illinois, Louisiana, Maine, Michigan, North

philanthropists how to become exemplary Business Philanthropists and how

Carolina, Rhode Island, Utah, Vermont, Wyoming, and federal jurisdiction of

to use the Business Philanthropy approach to develop and launch a

Crow Indian Nation of Montana and the Oglala Sioux Tribe.

successful L3C business.

Are you ready to be a Business Philanthropist or states across the union. Their efforts have been focused on proliferation of Philantrepreneur? ACD and the IRS are working together to establish new legislation in more

the L3C structure by getting more states on board to pass legislation for adoption and use.

The Philantrepreneur Journal: 12


The Philantrepreneur Approach

to Starting a Nonprofit By Marilyn l. Donnellen

Someone sees a need in their community so they start a nonprofit. That’s the traditional approach. But there are problems with that approach. It is estimated that 50% of these start-up nonprofits will close their doors within their first five years. Why? 1. Lack of research on who else is addressing the identified problem, leading to duplication of

Marilyn L. Donnellan, MS, President of Nonprofit Management Services, LLC with 30 years experience as CEO and consultant; international author and trainer.

services; 2. Lack of solid infrastructure, due to lack of a basic understanding of what it takes to run a

nonprofit, often because the founder has no business management experience; 3. Lack of a variety of funding methods, leading to lack of adequate funding. With an estimated

1.8 million nonprofits in the USA, the competition for limited resources is fierce. And, if the

nonprofit has more than 20% of their budget coming from any single source, and that source

dries up, the nonprofit will be in trouble;

nonprofitmanagementservices.com

4. Failure to have any type of business plan or strategic plan. Because of the problems inherent in the traditional nonprofit start-up strategies, the philantrepreneur approach to meeting community needs is often radically different, although it too can have problems. Micro-financing strategies, developed to provide small loans to individuals in poverty, were the precursor to today’s social enterprise ventures used by philantrepreneurs. More than 20 states have either passed legislation or are considering bills on new social enterprise structures, usually led by philantrepreneurs. Examples of these new strategies include: 1. L3C – Low-profit Limited Liability Corporation, which must significantly further charitable

The Philantrepreneur Journal: 13

purposes, with production of income and appreciation of property as insignificant purposes;


2. B Corporation (or Benefit Corporation) – Corporate purpose is to

create positive material impact on society and the environment; 3.

For-Profit Activity of a Nonprofit – Maintains non-profit status but pays taxes through Unrelated Business Income Tax structure (UBIT);

4.

Partnerships with for-profit corporations – Although designated as

501(c)3 nonprofits, these types of nonprofits often ignore traditional

start-up and funding strategies and rely on the for-profit expertise of

their founders and corporate partners. Two examples of philantrepreneurs who started nonprofits as social

enterprise ventures are: Wayne Elsey, founder of Soles4Souls (www. soles4souls.org), and Shawn Seipler, founder of Clean the World (www. cleantheworld.org). Both men came from highly successful for-profit careers but used their entrepreneurial and business skills to start non-traditional nonprofits. They combined their business acumen with their passion to help, partnering almost exclusively with for-profit corporations. The philantrepreneur approach to starting nonprofits and meeting specific needs requires this kind of outside-the-box thinking and strategies. Such approaches should decrease the failures of start-up nonprofits because they often have more solid infrastructures, reduce competition for funding, have a business plan, and are founded because of unmet needs. But be cautious. These partnerships are opposites. Charities work to improve their communities, while corporations are primarily interested in profit. Even so, such partnerships can impact individual’s behaviors in positive ways by improvements in health, environment, sanitation, and by decreasing poverty. The Philantrepreneur Journal: 14


The Dynamic Development of

Las Vegas Cultural Corridor

By R alph J. Stalter, Jr. In January 1998, The Wallace Foundation commissioned the Urban Institute to conduct a five-year evaluation of the Community Partnerships for Cultural Participation (CPCP) initiative. The initiative was part of the Foundation’s long-term commitment to support a range of cultural organizations and private and public arts funders to enhance broad participation and make the arts and culture an active part of

Ralph J. Stalter, Jr. Chairman, Advisory Board of the Cultural Corridor Theatre Center; management consultant to Nevada Repertory, Nevada’s only member of the prestigious League of Resident Theatres (LORT).

people’s everyday lives.

RalphStalterConsulting.com

The Philantrepreneur Journal: 15

The published policy brief, entitled “Arts and Non-Arts Partnerships: Opportunities, Challenges and Strategies,” assessed the initiative and reached the following conclusion:

Partnerships between arts and non-arts organizations can confer benefits on both parties if the

benefits are mutual and in accord with their respective missions and if the potential risks and

costs are anticipated and addressed.

Non-arts agencies can gain fresh, high quality programming that stimulates new thought, activity,

and involvement among their constituencies. Arts and cultural organizations can broaden

community awareness of their missions and services, thus increasing the public value of their

activities and offerings.

Beyond that, such arts/non-arts collaborations provide a further and more enduring dividend for

the participating organizations and the communities they serve. As arts and non-arts groups

accumulate skills and experience in effective partnerships, additional possibilities for productive

collaborations present themselves, leading to more and better opportunities for people to

participate in cultural life.


Article series focusing on:

Foundation of The Dynamic Development of Las Vegas Cultural Corridor

c. Jeanne Meister, a contributor to Forbes Magazine, said that, “As we look to the future, we have to ask: Will the workplace be on-site at our employer’s property, or on-demand at a collaborative space? Or will work simply be a mindset independent of place or time of day?” i. When planning a new state-of-the-art theatrical facility, we must consider that today’s work environment is more flexible and communication more mobile. Collective administrative services may not require physical office space, thereby leaving the bulk

1. Why is this work valuable to any community considering the develop-

of the property available for educational programming, creative

ment of such a partnership model today?

endeavors, broader community access and extended audience

a. In today’s economic climate, there are economies of scope to be

experiences!

realized in producing a range of cultural programs together than to

2. The history of the Cultural Corridor as “A vital and important part of

produce each one of them on its own.

the city of Las Vegas’ overall plan to become a world-class city and a

i. Such economies come from businesses sharing centralized func-

welcoming destination for both locals and tourists alike” (Mayor Carolyn

tions, such as marketing, technology, payroll or financial services.

Goodman).

ii. They also come from interrelationships elsewher in the business

3. Ongoing activities of the Cultural Corridor Coalition – cultural institutions,

process, such as cross-selling one product alongside another,

local arts and culture professionals, neighborhood business owners

or leveraging the artistic outputs of several organizations in a

and residents interested in promoting this neighborhood.

collective programming event.

4. Plans for the Cultural

b. As Dan Brown said in The Lost Symbol, “Knowledge grows

Corridor Theatre Cen-

exponentially. The more we know, the greater our ability to learn, and

ter (CCTC), a state-of-

the faster we expand our knowledge base.” Such a wealth of shared

the-art theatrical home

knowledge across the partnership is beneficial in building civic

for many nonprofit arts

engagement, public investments and making the arts and culture

organizations.

central in community and economic development. The Philantrepreneur Journal: 16


The Next Path and Generation of Doing Business By Dr. Victoria Boyd

1. Startups – Build a strong foundation

his issue of The Philantrepreneur Journal contains insight, from

a. Entrepreneurs: Use social enterprise as the model

slightly different perspectives, on the organizational models

b. Nonprofits: Develop entrepreneurial systems

emerging in the industry. Stepping back a bit to assess what it all

2. Existing – Adopt new strategies and language

means, in my opinion, the concept of sponsorship is becoming defunct.

a. Entrepreneurs/business: Integrate meaningful marketing into strategies

Instead, cause marketing is maturing into what is referred to as meaningful

b. Nonprofits: Use marketing as the basis for developing partnerships

marketing or impact investing. This shift is evident across the spectrum in large

Gaining Momentum

and small enterprises and gaining momentum. Businesses are intertwining

I love this image because it depicts the past, present

social conscious messages into their branding and marketing strategies and

and future. We’ve Nonprofits and business have

unfortunately those that have not made a shift are being left behind and fight

been on a long road with the double yellow lines

to be heard.

indicating, do not cross. Yet, there is a bright future

The relationship dynamics between for-profit and nonprofits is evolving into

ahead. Historically, federal and state statutes have

a collaborative approach that benefits both. These are exciting times that

viewed charitable and for-profit entities as mutually exclusive organizations

encourage communication and joint development of projects which serve

whose mission statements rarely, if ever, overlap. It was the double yellow

both sectors. This approach, repeatedly mentioned in this issue, is being

line warning. This legal distinction is being replaced by a new class of

recognized and legislative action is spreading across the nation. It is the next

entrepreneurs that believe companies can pursue profit while advancing

generation of doing business.

social causes. In response to the need for a legal designation that straddles the

So how and where do you start to follow this path? It depends on the stage

line between for-profits and non-profits, the US government and numerous

of development, launching, existing or renewal. There is not a one size fits all

states are recognizing and allowing for the creations of such enterprises. 

strategy and each situation has unique circumstances that need to be evalu-

Even though discussed previously in this issue, there still may remain some

ated for the desired goals and point of entry. That is the core of the Philantre-

questions that require a few more details for clarification. To start, there are

preneur approach, to embrace multiple starting points to maximize business

three (not 2) processes currently in the industry – low-profit, limited liability

growth and community impact. To define them simplistically they include:

companies (L3C), Benefit Corporations and B-Corp certification.   

The Philantrepreneur Journal: 17


Low-profit Limited Liability Corporations - L3C

however a sole proprietor, partnership, LLC, LLP, co-operative, or any other type of business can be a B Corp. B Corp certification was created by B Lab, a nonprofit organization that created an assessment tool to demonstrate an

Since 2008, L3C has been a recognized business entity that allows com-

organization’s commitment to multiple stakeholders including your workers,

panies to achieve modest profits while operating under a business model

customers, suppliers, community, and the environment. They also must pay

that emphasized impact over profits. L3Cs were specifically designed to help

a fee to join the B Corp community.

social entrepreneurs raise capital from a much broader range of investors

Concurrently, and adding to the confusion is the Benefit Corporation

than are typically attracted to traditional nonprofits. To regulate, many states

legislation which gained momentum as an initiative launched by B Lab. A

across the country implemented legislation to accommodate and encourage

distinct government constituency statute, Benefit Corporation legislation

social enterprise. Started in Vermont in 2008 there are now 10 states that have

has passed in 20 states and has introduced legislation in an additional 14

L3C designations and approximately 942 recognized companies.

states. New corporations can form under one of these statutes and existing

Under Treas. Reg. § 1.501(c)(3), L3C designated entities must:

corporations can convert into them. Benefit Corporations are required to

1. Significantly further the accomplishment of one or more charitable or

draft or amend their articles of incorporation to include the following five

educational purposes;

provisions: Purpose, Accountability, Transparency, Right of Action, and Change

2. Be formed for the purpose of furthering said charitable or educational

Companies that operate under these standards are legally protected and

purposes; 3. Not strive for the attainment of revenues or property as their primary

obligated to pursue social benefits before profits. This obligation guarantees to investors that management will operate the business in a way that furthers

purpose; 4. Not be organized to further any legislative or political purposes. 

Benefit Corporation

of Control/Purpose/Structure.

or

B Corp

their interest in social improvement. Whichever path is selected, utilizing any of these corporate structures or

An alternative for companies wishing to operate under a standard of social

certifications indicates a commitment as a Philantrepreneur enterprise. Our

accountability is the increasingly popular B Corp. B Corps’ are not statutory

goal is to support those efforts with a variety of strategies to build relationships

business forms and in fact, any business can receive B Corp certification. The

between entrepreneurs and nonprofits for win-win partnerships. We hope to

name creates some confusion because it implies you have to be a corporation,

help answer the three main questions regarding – What, Why and How?

The Philantrepreneur Journal: 18


The Philantrepreneur Journal: 19


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The Philantrepreneur Radio Show Aired the 1st & 3rd Wednesday each month has a national following that is growing exponentially. National guest and interviews loaded with insight, tips and strategies on building a successful social enterprise.

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Philantrepreneurjournal jan feb14 vol1  

Professional journal for entrepreneurs and nonprofits to find tips and insight on building a strong social enterprise.

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