In the past, new businesses only had a couple of narrow options for the type of business they wanted to have; a for-profit Corporation or a Non-Profit. For mission-driven corporations, undue pressure from stakeholders can force them to put profit above ideals. Fortunately, a new type of business has been created; a Benefit Corporation.
A Benefit Corporation is a type of for-profit corporate entity that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals. Benefit corporations differ from traditional Corporations in purpose, accountability, and transparency, but not in taxation.
We want our mission to always be a priority for our business, which is why we chose to be a Benefit Corporation! With this decision, we can ensure that our mission is protected through capital raises and leadership changes.