On November 16, Andrew Taylor, the Artful Manager, moderated a panel discussion at ColumbiaÂ University in New York CityÂ on the Low-Profit Limited Liability Company (L3C), and its potential for the arts. The panelists included two of the leading national experts on the business entity (Marc J. Lane and Rick Zwetch), alongside two masters from the theater world (Gregory Moser, Victoria Bailey), and one change agent from the arts business infrastructure (Adam Huttler).
Andrew Taylor is a faculty member of American University’s Arts Management Program in Washington, DC. An author, lecturer, researcher, and consultant on a broad range of arts management issues, Andrew specializes in business model development for cultural initiatives and the impact of communications technology on the arts.
Some basic information on the L3C can be found on wikipedia by clicking here:
AÂ low-profit limited liability companyÂ (L3C) is a legal form ofÂ business entityÂ in theÂ United StatesÂ that was created to bridge the gap betweenÂ non-profitÂ and for-profit investing by providing a structure that facilitates investments in socially beneficial, for-profit ventures while simplifying compliance withÂ Internal Revenue ServiceÂ rules for program-related investments, a type of investment that private foundations are allowed to make.
The video might require a little of your time, but is worth it if you have an interest in emerging models for production in the United States.