A Public Benefit Corporation is a relatively new legal entity that allows a for-profit company to be run for the benefit of multiple stakeholders, including the communities in which we live.
Choose High Performance (CHP) was founded to help individuals and teams flourish through high business performance. Our work is designed to help make your team better and our communities safer from the inside out. Specifically, we teach cutting-edge business skills infused with daily practices of integrity, courage, gratitude, forgiveness and compassion-in-action.
CHP also helps spread the adoption of next-generation social and emotional learning through schools and community for free. This is done through donations from net profits to the Choose Love Movement, a Gold Star-ranked 501(c)(3) non-profit now in its seventh year. Currently, the Choose Love Movement curriculum taught in all 50 US states, in 90 countries and has been taught to more than 1.7 million children. Choose High Performance also teaches a seminar based on foundational teaching from the Choose Love Movement and works to connect the inspiring messages of Scarlett Lewis (the founder of the Choose Love Movement) with corporate audiences.
About Public Benefit Corporations
Why are companies becoming B Corps? A Harvard Business Review article explains.
The advantages of Benefit Corporations are listed here.
For more information on benefit corporations (including a description of B Labs, the top B Corporation Community) click here.
Choose High Performance was founded in 2020 and chartered as a Delaware PBC.
According to Wikipedia, Delaware’s PBCs history helps company sustain a mission-focus, to do good for all stakeholders – people, profit and planet:
In July 2013, Governor Markell (of Delaware) signed into law a new type of public benefit corporation.
The Delaware General Corporation Law (Title 8, Chapter 1 of the Delaware Code) was recently amended by Senate Bill No. 47, effective August 1, 2013, adding a new subchapter XV, which authorizes the creation of public benefits corporations. As defined in the GCL, a PBC is a for-profit corporation intended to produce a public benefit and operate in a responsible and sustainable manner. The PBC is to be managed in a manner that balances stockholders’ pecuniary interests, the best interests of those materially affected by the corporation’s conduct, and the public benefit for which the PBC is formed.
In June 2015, Senate Bill No. 75 amended Delaware PBC rules to make it easier to form, operate or convert into a PBC, by facilitating the naming of PBCs, simplifying the issuance of stock options in PBCs and reducing the voting threshold for conversion from 90 percent to two-thirds of stockholders.