Friday, August 3, 2012

Benefit Corporations Signed Into Law in Illinois

Today we got the word that legislation authorizing the formation of benefit corporations has been signed into law in Illinois.  Illinois now joins California,HawaiiLouisianaMarylandNew Jersey, New York, South CarolinaVermont, and Virginia.

In other news, our Board of Directors just met this past week and we are getting ready to adopt the BCSI Core Principles that will be the foundation for all of our activities. These principles will also serve as a guiding road-map for each of the third-party standards we are developing for benefit corporations to use in their respective states.  As soon as the Core Principles are ready to go, we will be sure to publish here.

The discussion in the 501(c)(3) and 501(c)(6) community continues to ramp up and we are excited to see some of the pieces coming together in terms of building bridges between each sector of the economy.  We are taking a systems thinking approach to our activities and developing specific ways to build collaborative opportunities between our home sector (the third sector) and the new fourth sector.

Stay tuned for more developments!

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