Social purpose corporation has goal social purpose
A social purpose corporation (SPC) is a type of for-profit entity, a corporation, in some U.S. states that enables, but does not require, considering social or environmental issues in decision making. SPCs are similar to benefit corporations (B corporations) and flexible purpose corporations (FPCs).California
In California, "[t]he amendment, S.B. 1301, changes existing law (found under Corporations Code Sections 2500–3503) to emphasize the social-purpose nature of the flexible purpose corporations, most notably by changing its name to the "Social Purpose Corporation". With the law change, corporate directors are now required to account for company mission in decision making. A SPC must state that it has a specific purpose to pursue a public purpose that a traditional nonprofit corporation would normally have pursued. Because an SPC is a for-profit organization, they do not qualify for tax-exempt status as a nonprofit corporation.
S.B. 1301 takes effect on January 1, 2015. On that date, extant FPCs will automatically continue their existence as SPCs.