Community Dividend

Supplemental Essays on the L3C

(June 2010) After it was published in November 2009, the article "The L3C: A new business model for socially responsible investing" by Steve Davis and Sue Woodrow generated considerable interest, both favorable and skeptical, among our readers. Accordingly, we invited some legal and development finance professionals to present their perspectives on the merits of the L3C business model. Links to their essays appear below. In offering these authors' comments to our readers, we note that the views expressed in their essays are their own and not necessarily those of the Federal Reserve Bank of Minneapolis or the Federal Reserve System.

Published November 1, 2009  |  November 2009 issue

When the law is understood: L3C no by Daniel S. Kleinberger and J. William Callison

The L3C: A potentially useful tool for promoting charitable purposes by John Tyler and Marcus Owens