Nonprofit Basics: How To Wind up a California Charity
Nonprofit Basics: Director Duties and Best Practices for the Typical Nonprofit Public Benefit Corporation
As counsel for many socially-conscious businesses, perhaps the most frequent early-stage question we field from entrepreneurs is whether they should organize their business as a traditional business entity (such as a...more
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
This month, we are excited to feature our client Cultivo, a public benefit corporation, which recently announced that it has raised $14 million in Series A funding to accelerate its mission to unlock investment into...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
Section 5342(e) of the California Corporations Code requires a nonprofit public benefit corporation to provide, upon the request of a member, to either allow inspection and copying of all members' names, addresses or voting...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
While there are a few different forms of “corporate” entities in Israel, this guide will focus on companies and partnerships as these are the entities that the non-Israeli businessman is most likely to set up or invest in if...more
Welcome to EO Radio Show - Your Nonprofit Legal Resource, brought to you by the Exempt Organizations Group at Farella Braun + Martel. My name is Cynthia Rowland, and I'm a partner at Farella. I'm a business and tax lawyer...more
This article is geared towards founders who have an idea for a mission-driven business and want to know what to do next. Why does this article focus on Delaware? - Delaware has become internationally recognized as...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 Israeli website “GuideStar,” which provides information about Amutot (One of the common types of non-profit organizations in Israel) and PBCs, launched a new and important interface that enables these organizations to...more
In 2013, following in the footsteps of California, Delaware introduced a new corporate form that could be chosen by companies organized under its state law – the public benefit corporation (PBC). This type of corporation is...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
Up until today, pursuant to an Israeli government resolution dating back to 2001, NPOs (such as Amutot and public-benefit companies) that did not possess a certificate of proper management could not engage with government...more
La Ley 1901 de 2018 de Colombia consagra la posibilidad de que aquellas sociedades que además del beneficio e interés de sus accionistas, actúen en procura del interés de la colectividad y del medio ambiente, adopten la...more
The Israeli High Court of Justice ruled recently that section 46 of the Income Tax Ordinance does not authorize the Knesset Finance Committee to exercise broad discretion in recognizing NPOs and in fact the Committee’s...more
In the past year, at least 16 public companies1 received shareholder proposals requesting they convert to benefit corporations. Benefit corporations (known in Delaware as public benefit corporations or “PBCs”) are for-profit...more
On May 26, 2021, Bill 797, An Act to amend the Business Corporations Act to include benefit corporations (Bill 797), was tabled before Quebec’s National Assembly by opposition member Carlos J. Leitão. If adopted, Bill...more
In Mintz’s recent article—“Public Benefit Corporations are Going Public,”—we predicted that, as Special Purpose Acquisition Companies (“SPACs”) reemerge as an alternative to initial public offerings (“IPOs”), Public Benefit...more
AgTech companies face an exciting opportunity to play a large role in achieving sustainability and promoting ESG. - On March 4, 2021, the US Securities and Exchange Commission announced the creation of a Climate and ESG...more
For several years, we’ve witnessed a fierce debate regarding the extent to which, in making decisions, boards of traditional corporations may take into account constituencies or stakeholders other than shareholders, such as...more