What is an L3C?

An l3c is a relatively new type of company. It is essentially a “low-profit” limited liability company that is oriented towards a social, educational, or charitable purpose, similar to a non-profit company. An l3c is not a non-profit company and is taxed like any other for-profit venture; Any l3c can, however, accept program-related investments from private foundations just as a non-profit entity can.