Six steps to becoming a benefit company.
If you’re considering becoming an Oregon Benefit Company, you need to follow these six simple steps:
1. Understand the “why” and the “how” of the Benefit Company.
2. Take the free “Sniff Test” to see if your business is a good candidate.
3. Include a statement in the articles of incorporation or organization that says the
corporation or LLC is a benefit company subject to ORS 60.750 – ORS 60.770
a) For a new Oregon company (LLC), check the box “Benefit Company” under #9
“Optional Provisions” on the Articles of Incorporation form.
b) For an existing Oregon company (LLC), submit the following amendments
under #2 of the Articles of Amendment form. Write in: “The Limited Liability
company (name of company), is a Benefit Company, subject to Sections 1 to 11
of chapter 269, Oregon Laws 2013”
c) For a new Oregon corporation, check the box “Benefit Company” under #8
“Optional Provisions” on the Articles of Incorporation form.
d) For an existing Oregon corporation, submit the following amendments under
#2 of the Articles of the Amendment form. Write in: “The Corporation (name
of company), is a Benefit Company, subject to Sections 1 to 11 of chapter 269,
Oregon Laws 2013”
e) In addition, an Oregon Benefit Company must have a board of governors and
may designate at least one member of the board as a benefit governor.
Converting to a Benefit Company does not change your business entity type.
4. Print form, sign and submit check of $100 payable to “Corporation Division.”
Businesses can also fax their amendment or articles to the Corporation Division
with payment using a credit card and fax cover sheet.
Mailing Address:
Oregon’s Secretary of State Office
Corporation Division
255 Capitol St. NE, Suite 151
Salem, OR 97310-1327
5. Adopt a Third-Party Standard and consider taking the Certification Test ($299).
This is a third-party review of your business consisting of a scored 60-point
examination of current and future workplace practices. Submit documentation
and rationale for responses after each question, as appropriate. If you achieve
70% of the points, you will be contacted for a brief 30-minute interview.
Upon satisfactory completion of interview, you will be awarded Benefit Corporations
for Good certification. Those businesses that meet certification:
• Secure a Digital “Oregon Benefit Company Certified” badge for use on website
and online materials, including window cling (shown below).
• Get Visual Branded Materials announcing your “Oregon Benefit Company
Certified” for display on premises of business including door, windows
and counters.
• Receive 30 minutes of consulting time from a senior principal to assist
you in actualizing the principles of Oregon Benefit Companies.
• Gain access to ongoing educational forums and materials regarding
Oregon Benefit Companies.
6. Once a year you must submit a simple Annual Benefit R eport, outlining how the
activities of your business are supporting the values of “People, Planet, Profit”
or “a material positive impact on society and the environment, taken as a whole,
from the business and operations of the company.”