Low-profit limited liability company (L3C)

Definition

A type of limited liability partnership (LLP), which operates to “significantly further the accomplishment of one or more charitable or educational purposes". Unlike a non-profit charitable organization, L3Cs may make a small profit, as long as that is the secondary goal of the organization.

See also

  • [[wex:Limited Liability Partnership (LLP)]]
  • [[wex:Non-profit organizations]]