INDIANAPOLIS (WISH) – A new law goes into effect January 1 that gives Indiana businesses more opportunities to give back.
Businesses can register as a benefit corporation with the Secretary of State’s office at the Statehouse. This allows companies to put their social mission of giving back alongside making money.
“It’s a wonderful opportunity for what might typically have been only possible as a nonprofit to actually generate profit, get investors and grow a for-profit company with a mission that is really all about benefiting charities and the greater good,” said Heidi Schmidt, founder and CEO of College Students Care.
Previously the law required corporations to place profits above all else.