Money Talks: The Low-Profit Solution
Thursday, July 23 2009
by Frank Stasio and Lindsay Thomas
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As newspapers around the country teeter on the edge of extinction, some experts are convinced that a new business model called the L3C could be their salvation. L3Cs are funded by private foundations and can make modest profits, but are treated like charities by the IRS. In the case of newspapers, the charitable purpose is to keep a community informed. The L3C model can work for other businesses as well. Host Frank Stasio explores this new tool of capital formation with James Hamilton, director of the DeWitt Wallace Center for Media and Democracy at Duke University. Also joining the program is North Carolina Senator Jay Jacumin, who has introduced L3C legislation into the General Assembly, and attorney Marc Owens.
