1. + The Benefit Corporation and Social Enterprise Amy Kincaid, ChangeMatters, Benefit LLC The Foundation for Prince George’s November 10, 2011

2. + Topic and Resource People 1. All about: the New Maryland Benefit Corporation Laws 2. In the mix: social enterprise and socially-responsible biz Amy Kincaid Jon Widrick, Esq. Phil Stoler, CPA

3. + Benefit Corporation Law General and specific public benefits Protection for corporate directors Reporting Third party standards Not a certification Maryland was first in the nation to pass the law. Main Provisions

4. + Open Questions Third Party Standard Data Rules and Regulations Tax Rules and Accountability Note: Appropriate for nonprofit corporations? Mechanics and meaning—could/should a tax exempt organization do this?

5. + Following Maryland Vermont New Jersey Virginia California (and also Flexible Purpose) Hawaii New York (passed, but not yet signed into law) Four other states introduced it

6. + Maryland Benefit LLC First and only state so far. LLCs and contract law For tax exempts with LLC subsidiaries, is this a good option?

7. + Who is it for? Who’s doing it? In Maryland Big Bad Woof — retail Emory Knolls Farm — greenhouse Blessed Coffee — importing Taharka Bros. — fast food Global Contribution Corp. (St. Paul, MN) — shared workspace developer Considering: LessonCast ChangeMatters, Benefit LLC Substance151, Benefit LLC Clean Currents, Benefit LLC Restaurant startup in DC Artisan market Benefit CorporationBenefit LLC

8. + In Virginia Farm Community Consultants, Inc. Riviana Natural Designs, Inc. Sweet Charity Bake Shop, Inc. Veura Inc Note: Impact Makers

9. + How to File Corporate filing or amendment to Articles of Incorporation or Organization through Maryland SDAT (State Department of Assessments and Taxation) http://www.dat.state.md.us/ In Maryland

10. + In the Mix Social Enterprise ----to---- Socially-Responsible Business earned revenue, earned income ventures, nonprofit business activity, social ventures, social entrepreneurship, community wealth creation, social purpose business, social enterprise, common good enterprise, mission-driven business, socially- responsible small business, double-bottom line; triple- bottom line, benefit corporation Common Good Enterprise

11. + Continuum Nonprofit

12. + Social Enterprise Business Harbor City Services Humanim Goodwill Baltimore Clayworks (e- Ceramica) DC Central Kitchen Greyston Bakery Benetech

13. + Socially-Responsible Business Busboys & Poets Norwood Marble and Granite Teavolution Green Savings Coop Capital City Cheesecake Impact Makers Rivianna

14. + For more information Jon Widrick, Esq. Ascensus Law Group www.ascensuslaw.com widrick@ascensuslaw.com Amy Kincaid ChangeMatters, Benefit LLC 301-588-9108 (c) www.changematters.com kincaid@changematters.com Phil Stoler Rivlin, Lichter & Feldman pstoler@rlf-cpa.com