public benefit corporation

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public benefit corporation

n. a term used in some states for a non-profit community service corporation. Typical examples are service clubs like Kiwanis, Rotary, Soroptimists and Lions. (See: corporation)

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References in periodicals archive ?
New corporate statutes authorizing benefit corporations have been passed in over 30 states since 2009 (also called "public benefit corporations" or "PBCs" in some jurisdictions, including Delaware).
FTs (including Northumbria) are not-for-profit public benefit corporations and provide and develop healthcare according to core NHS principles.
This application is available for-profit businesses, not-for-profit corporations, business improvement districts, local development corporations, public benefit corporations, economic development organizations, research and academic institutions, incubators, technology parks, municipalities, counties, regional planning councils, tourist attractions and community facilities.
The directors of public benefit corporations under the Delaware
The LDC amended its bylaws to expand the nonprofit status reach to public benefit corporations like WMCHealth.
PacificSource and Legacy are nonprofit public benefit corporations. They remain separate companies, with each filing its own financial reports.
Eligible applicants include municipalities, public authorities, school districts, community colleges, public benefit corporations, soil and water conservation districts, not-for-profit organizations and Indian nations.
In a similar way, clothingAaAaAeAeAaAeAeA companyAaAaAeAeAaAeAeA P -- one of the first public benefit corporations -- AaAaAeAeAaAeAeA has pledge share proprietary information with competitors if it will help the environment.
Delaware public benefit corporations, must create a public benefit, or "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." (104) The public benefit overlaps with, and expands upon, the exempt purposes for 501(c)(3) organizations found in the Internal Revenue Code.
The comptroller is both CFO and auditor, overseeing the finances of local governments; conducting audits of the operations of state agencies, public benefit corporations, and public authorities; maintaining the state's accounting system and payroll; managing the state's assets; and issuing debt.
Agricultural cooperatives, local governments, nonprofit corporations, public benefit corporations, economic development corporations, regional farmer's market authorities and Tribal governments may consider proposals for these grants.