Nonprofit Basics: How To Wind up a California Charity
Nonprofit Basics: Director Duties and Best Practices for the Typical Nonprofit Public Benefit Corporation
California readers most likely are aware of the fact that California's nonprofit corporate law is triadic. Thus, it possible to organize a nonprofit corporation as a public benefit corporation, a mutual benefit corporation...more
Section 705(a) of the California Corporations Code provides that no proxy is valid after the expiration of 11 months from the date thereof unless otherwise provided in the proxy. This is a reflection of the fact that proxies...more
Welcome to EO Radio Show – Your Nonprofit Legal Resource. I'm Cynthia Rowland, and episode 49 of EO Radio Show summarizes the steps to wind up a charity that is a nonprofit corporation registered and operating in California....more
Socially beneficial causes now play a large role in consumers’ and employees’ decision-making. A recent survey from 2021 shows that 44% of millennials and 49% of Gen Zers reported making choices about the type of work they...more
The California Corporations Code includes provisions governing a wide variety of nonprofit organizations. However, the "Big 3" categories of nonprofit corporations are the public benefit, mutual benefit and religious...more
The past two years have seen a dramatic shift in practice relating to the Delaware public benefit corporation (the PBC)—a corporate form that requires the board of directors to balance stockholders' monetary interests, the...more
The role of environmental, social, and corporate governance (ESG) factors in capital allocation and investment decisions are poised to take center stage in 2022. A trend that entered the mainstream with a statement from the...more
On June 30, 2020, British Columbia became the first Canadian jurisdiction to allow for the establishment of "benefit companies" by introducing amendments to the Business Corporations Act (British Columbia)....more
At risk of stating the blindingly obvious, all founders of for-profit companies want their businesses to be profitable. It’s the table stakes for starting and running a business. But what if you wanted to do more?...more
With the creation of “B” Entities, businesses no longer need to choose between shareholder value and social impact. Under traditional corporate structures, directors have a fiduciary duty to maximize corporate profits and...more
The world is changing! Over the last several years, Environmental, Social and Governance (ESG) criteria have been an emerging focus in the investing world, primarily driven by equity investors where it can be harder for a...more
There continues to be a lot of press around B Corps—not surprising given the marketing expertise of the B Lab founding team and the staff that it has hired. More importantly, the B Corp movement has been embraced by an...more
Many of our clients approach us with some variation of “We want to be a B Corp.” What does that mean exactly? The term “B Corp” is often used interchangeably to refer to both benefit corporations and Certified B Corporations,...more
Shareholder activists launched a record number of campaigns in 2015—more than 507, compared to 396 in 2012, and 292 in 2014. The most common goal of shareholder activists, expressed in 44.9 percent of the year's campaigns,...more