Steve Jobs’ Widow’s Charity for Profit | The American Conservative

Emerson Collective (EC) may not have the name recognition of a Tides or an Open Society Foundation, but this Silicon Valley-based social change organization is just as ambitious, and nearly as important in the world of left-wing philanthropy. It s the brainchild of Lauren Powell Jobs, the widow of Steve Jobs and it seems the tech titans have put their own spin on giving.

EC is structured not as a foundation but as a Limited Liability Corporation (LLC), making it a for-profit philanthropy. Powell Jobs has previously said she structured EC as an LLC for more flexibility. This is highly unusual for philanthropic organizations, but the same choice was made by Mark Zuckerberg and his wife, Priscilla Chan, in establishing the Chan Zuckerberg Initiative, LLC.

Brian Crowley is a Certified Public Accountant and owner of Crowley Accounting and Consulting Services. He said the difference between an LLC and a traditional nonprofit is two-fold: ownership and taxation. Nonprofits have no owners and are not taxed. LLCs have owners and are taxed. Obviously, LLCs are profit motivated, and nonprofits are philanthropically inclined.

via www.theamericanconservative.com

Interesting.