Public benefit corporation
In accounting, public benefit corporation means a for-profit Delaware corporation formed to produce a public benefit named in its charter, whose board must balance the stockholders' financial interests, the interests of those its conduct materially affects, and that benefit. Reports to stockholders on it at least every two years; taxed like any other corporation.
Also called PBC.
Authority: 8 Del. C. §362(a) (opens in a new tab). Sources
The lesson that teaches this
From the free founder back-office course, taught on one company's books, with exercises to work it yourself.
What it is not called
Each of these means something else. Use one here and an accountant reading the product notices.
- B Corp (a private certification)
- nonprofit
Also in Entity types
Defined in Lexicon. This page is generated from that document, so the two can't disagree.