What Is My Specific Public Benefit Purpose?
Certain jurisdictions permit benefit corporations to name a specific public benefit that the corporation will pursue, while others require a specific purpose. The specific public benefit purpose must be named in the corporation’s certificate of incorporation. State statutes provide some guidance on the types of purposes that may be included, but corporations will want to draft specific language that is appropriate for them. Drafting a specific purpose provision represents an opportunity to focus on and refine a corporation’s mission and priorities. Below are some examples of specific purpose provisions:
- Nutrition: The delivery of nourishing, organic food to the nation’s little ones and raising awareness and advancing solutions for childhood hunger and malnutrition in the United States.
- Unemployment: Build healthy communities, create jobs, and combat the social and economic ill effects of chronic joblessness in communities across America.
- Education: The Corporation also has a specific public benefit purpose to promote innovation in education and improved access to quality schooling.
- Breast Milk: The specific public benefits of increasing access to safe, high quality human donor milk adapted for neonatal clinical and post-discharge settings; increasing breastfeeding rates and the economic empowerment of women; and supporting related research.
- Developing Countries: Benefit International community development in developing countries.
- Environmental Sustainability: Increasing environmental sustainability by fostering and facilitating the reuse of durable goods.