Social Enterprise Law Tracker
About
Welcome to the Social Enterprise Law Tracker ("SELT"). Beginning in 2008, state legislatures started authorizing a new class of entities collectively known as social enterprises. These corporate and company forms are designed for businesses that seek to create positive social and environmental impacts in addition to financial returns. These forms include the benefit corporation (Benefit Corps), the social purpose corporation (SPC), the low-profit limited liability company (L3C), the benefit limited liability company (BLLC), and the statutory public benefit limited partnership (SPBLP).
The SELT visualizes how social enterprise law has spread across the US. Select any state to see the social enterprise forms that are available, and historic legislative activity.
The SELT was developed by Rob Esposito and Shawn Pelsinger, with support from the NYU Jacobson Leadership Program in Law & Business, the NYU Stern Business & Society Program, and the NYU Law and Social Entrepreneurship Association. The SELT is now hosted and maintained by the Grunin Center for Law and Social Entrepreneurship.
Social Enterprise Corporate Forms Defined
The SELT tracks the following five corporate forms, each designed to support businesses pursuing both profit and positive social or environmental impact:
Benefit Corporation (BCORP) is the most widely adopted form, requiring companies to pursue general public benefit alongside profit. Directors must consider stakeholder interests beyond shareholders in decision-making.
Social Purpose Corporation (SPC) allows corporations to define specific social or environmental purposes in addition to profit maximization. It provides flexibility in how companies balance financial and social objectives.
Low-profit Limited Liability Company (L3C) is designed primarily for charitable purposes with limited profit distribution. It was originally created to facilitate program-related investments (PRIs) by foundations.
Benefit Limited Liability Company (BLLC) combines the flexibility of LLC structure with benefit corporation principles. Currently available only in Delaware, it offers LLC tax treatment with social benefit requirements.
Social Purpose Benefit Limited Partnership (SPBLP) provides a limited partnership structure for social enterprises, particularly suited for impact investing. Also currently available only in Delaware for sophisticated investment arrangements.
Annual Reports: The State of Social Enterprise and the Law
The Grunin Center publishes comprehensive annual reports tracking US social enterprise legislative developments from 2009 to the present.
About the Tepper Fellows
Each year, the Grunin Center selects up to five student Research Assistants as Tepper Fellows. These Fellows maintain the Social Enterprise Law Tracker and author the annual reports.
Learn more about our current Tepper Fellows →Acknowledgment
This research project is generously funded by the Tepper Family. We would like to extend our gratitude to the Tepper Family, with particular thanks to Marvin Tepper '58, Elise Tepper, Jacqueline Tepper '90, Edward Tepper, and Shelley Tepper.