A Flexible Purpose Corporation is one in which the purpose of the business includes either (1) one or more charitable or public purpose activities that a nonprofit public benefit corporation is authorized to carry out; or (2) promoting positive or minimizing adverse short-term or long-term effects of, the corporation’s activities in its employees, suppliers, customers and creditors, community and society and the environment.

To form a flexible purpose corporation, you must draft and submit Articles of Incorporation to the California Secretary of State. This form is similar to the one that you would fill out for a stock corporation that does not necessarily fit into the form available on the Secretary of State’s website. Therefore, it is important to contact a business law attorney in that the attorney will need to draft up Articles of Incorporation specific to your entity and purpose. The filing fee for the Articles of Incorporation is $100.

For further information on business formations and more please contact the Fullerton Attorneys at Yanez & Associates at 714-665-8322. We offer a free initial consultation of 60-minutes. Call today to schedule a consultation with a lawyer at our firm.