Benefit corporations are for-profit companies that want to consider additional stakeholders in addition to making a profit for their shareholders. They are not non-profits, hybrids, or charities. Non-profits may not become benefit corporations unless they switch to a for-profit structure.
Constituency statutes are permissive and state that directors "may" consider non-financial interests. This also means that they may not. The objective of benefit corporation legislation is to give shareholders the option to choose to require directors to consider non-financial interests.
Benefit corporation laws do not change or impact tax law in any way. A benefit corporation still must choose either C or S status like a traditional corporation, and are not taxed differently than other types of corporations.
The only binding way to incorporate morals or mission into a corporate form without risking a shareholder lawsuit is by becoming a benefit corporation. Benefit corporations give entrepreneurs the legal protection & freedom to consider their stakeholders and incorporate their morals and mission into their business. One hundred years of case law have proven that benefit corporation legislation is necessary in order for a company to consider additional stakeholders.