User:Spamhog/B Lab

B Lab is private company which created, and awards, the B corporation certification for for-profit organizations. The "B" stands for beneficial. and indicates that the certified organizations voluntarily meets certain standards of transparency, accountability, sustainability, and performance, with an aim to create value for society, not just for traditional stakeholders, such as the shareholders.

B Lab campaigns for the adoption and improvement of Benefit Corporation statutes at the state level, however the "B corporation" certification should not be confused with state-sanctioned "benefit corporation" status. In that sense, B Lab is in the same historical tradition as private certification authorities such as Det Norske Veritas (a Norwegian foundation, operating as a classification society), UL (a private US company, whose standards are recognized by the insurance industry), and the Germany's TÜV's (associations devoted to all aspects technical safety). These organizations formally are private-sector entities, but their reach is complementary with, and broadly comparable to, public or intergovernmental standards-setting bodies]] and certificating authorities.

B Lab runs as a public service a separate website devoted to information about benefit corporations and the progress of relevant state legislation.

The organization's website states that B Lab is a 501-c non-profit, indicates that it has an office in Wayne and one and Berwyn , both in Pennsylvania. However, the website does not state where the organization is based, nor in what form and where it is incorporated.

B Lab has been extremely effective in attracting media attention to the concept of benefit corporation. The concepts of benefits corporation and B corporation are sometimes used interchangeably.

In the United States, the IRS has been less forthcoming in recognizing non-profit status since the 1990s. This has implications beyond the tax burden. An officially sanctioned tax-exempt status is an important signal when image and strategy depend on the perception of an organization goal to benefit non-traditional stakeholders, B Lab provides such a signal to organizations that can't obtain tax-exempt status. As an example,s CouchSurfing International Inc., after failing to convince the IRS to grant it non-profit 501-C status, resorted to turning from unrecongized non-profit into a B Lab-certified for-profit B corporation.

External websites
http://www.bcorporation.net http://benefitcorp.net