Types of social ventures

A co-op is a special purpose organization owned by members that use its services. Understand the pros and cons of this legal structure before you commit to a co-operative corporation.

A for-profit social venture generates profit like a traditional business but also maintains social or environmental commitments. “B Corporations” are designations reserved for businesses that have received certification as a for-profit social venture.

Not-for-Profit Corporations can engage in profit-making activities only if the activities are compatible with the NFP’s objects. NFPs are generally tax-exempt so long as they are devoted to social welfare, civic improvements, pleasure or recreation, or any other purpose except profit.

A social entrepreneur as someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change.