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“Our best chance to make the world better is to agree that the choice among corporate structures should be made entirely in service of social impact,” says Rich Leimsider, the Vice President of Fellowship Programs at Echoing Green, a nonprofit that invests with social entrepreneurs. Maryland was the first U.S. Social Enterprise UK .
One of the judges (me) challenges the entrepreneurs that their numbers — particularly the margins, meaning gross margin (sales less costs of sales) and profit before taxes (gross margin less operating expenses) are way too high. They’re from the University of Arkansas. “Is there any precedent for margins that high?&#
Now, you can create a benefit corporation in: Arkansas, California, Colorado, Delaware, Florida, Hawaii, Illinois, Louisiana, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington D.C., with many more states in the pending legislation phase.
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