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The Jargon-Free Guide to Low-Profit Limited Liability ...

Jun 01, 2017 · An L3C is a variation of a limited liability company (LLC), which is a private organization where the owners actively participate in management and don’t face personal liability for the organization’s debts and obligations. An L3C, though, is a hybrid of an LLC and nonprofit business model, which is where an organization operates to benefit the general public without shareholders and ……

L3c: Everything You Need to Know - UpCounsel

Examples include dance companies, theater groups, symphonies, musical groups, artist groups, and art activities. L3Cs are a possibility for these art-based organizations to profit from their work while continuing to focus on their core mission of spreading arts appreciation and education.…