The New Promise of Low-Profit Limited Liability Companies: Private Foundations’ Investment Options have Changed
Dr. Valeriya Avdeev

Abstract
Prior to creation of the low-profit limited liability company, or an L3C, private foundations rarely invested in program-related investments, even though such investments were beneficial to them on many levels. Most non-profits have shunned away from such investments mostly due to the unpredictability of their treatment by the Internal Revenue Service. However, with the help of the new hybrid entity, the L3C, the world as we know it as it relates to PRIs is about to change. JEL Codes: G11, K10, and K34

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