L3Cs: Low Profit Limited Liability Companies

The Vermont Business Roundtable sponsored a luncheon on L3Cs on July 24, 2008 at the Sheraton Burlington Hotel & Conference Center in South Burlington.  Our featured presenter was Tom Moody, Chair of the Business Law Group at Downs Rachlin Martin PLLC.

Earlier this year Vermont became the first state in the U.S. to enact a law enabling the formation of Low-Profit Limited Liability Companies, also known as “L3Cs.”  The L3C organizational structure is designed to enable socially focused organizations to raise capital through a layered capital structure that includes investment by private foundations and financial investors with the ultimate goal of improving capital formation and increasing self-sustainability. 

View Moody's full presentation

Read Mr. Moody's article on L3Cs

 

Remarks by David Finney, President, Champlain College (June 3, 2008)

When Lisa called me – about a month ago now – to speak to you today I didn’t think much about the breadth of today’s topic – the future and the changes it will bring. Once I began to think about it, it was difficult to know where to even begin. Like most men, I think that planning for the future involves buying two cases of beer rather than one.

The future. We all know its coming.  And just like the weather person on TV, we all have ideas about what it will be like; most of our ideas will be partially correct, and partially incorrect.

Read Full Remarks

Business-Education Alliance Report Released (April 21, 2008)

Our children will live their lives in a century full of opportunities and challenges.  Vermont’s future and our country’s are dependent upon a successful and responsive educational system that delivers a quality 21st century education to every Vermont child.  It is the belief of the Business-Education Alliance that the educational system must be designed to ensure all children “graduate.”  What it means to “graduate” must be based on each child’s demonstration of the knowledge, skills and attributes, which have been identified as essential for their continued growth as citizens.

Business-Education Alliance Report (April 21, 2008)
VSBA Minority Statement