With Food Insecurity way too high here, I'm taking action to secure funds to get a Mobile Ghost Kitchen for students and residents to use. They would pay only a commission on sales like at the Farmer's Market.
This mobile ghost kitchen could also be used by Healthier Lyon County (pick up excess prepared foods and distribute to needy, Food and farm Council-(prepare refrigerated foods for the blessing boxes) and others in the community like myself, working to reduce food insecurity/obesity. The business would be structured this way.
An L3C is a for-profit, social enterprise venture that has a stated goal of performing a socially beneficial purpose, not maximizing income. It is a hybrid structure that combines the legal and tax flexibility of a traditional LLC, the social benefits of a nonprofit organization, and the branding and market positioning advantages of a social enterprise. The L3C is obligated to be mission-driven so there is a clear order of priorities for its fiduciaries.
The L3C is designed to make it easier for socially oriented businesses to attract investments from foundations and additional money from private investors. Unlike the traditional LLC, the L3C's articles of organization are required by law to mirror the federal tax standards for program-related investing. A program-related investment (PRI) is one way in which foundations can satisfy their obligation under the Tax Reform Act of 1969 to distribute at least 5% of their assets every year for charitable purposes. While foundations usually meet this requirement through grants, investments in L3Cs and charities that qualify as PRIs can also fulfill the requirement while allowing the foundations to receive a return.