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 take the Certification Test ($149).

This is a third-party review of your business consisting of a scored 48-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 20-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 20 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.”