Q: Can L3C ventures use volunteers?
Hi, I am a young social entrepreneur thinking of starting an L3C. However, there isn't much information on L3Cs, besides that they are hybrid ventures. Would an L3C be able to host a volunteer program? Can they also utilize donations alongside other revenue sources?
A: Greetings. It appears you would like to create a hybrid not for profit. Please note, last checked, New York does not have a statute to create such not for profits. An organizer would have to create the hybrid in another state and then register to do business in New York. Once registered, the hybrid would be able to do all things within its statutory power, which most likely includes engaging volunteers. New York rules concerning such volunteer programs (e.g. 12 nycrr 143-3.12) would also have to be followed. Please contact a lawyer for more information.
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