Non Profit Corporation FAQs Back to All FAQs

What is a Benefit Corporation?

Benefit Corporations are committed to pursuing a "triple bottom line" that includes people, planet and profits. Any business that forms or elects status as a public benefit corporation will be required to identify one or more specific public benefits to be promoted by the corporation in its certificate of incorporation. The legislation defines "public benefit" as "a positive effect (or reduction of negative effects) on one or more categories of persons, entities, communities or interests (other than stockholders in their capacities as stockholders) including, but not limited to, effects of an artistic, charitable, cultural, economic, educational, environmental, literary, medical, religious, scientific or technological nature." In addition to specific public benefits that are identified, the corporation will also be guided by the more general requirement to operate in a responsible and sustainable manner.

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