What Does it Mean to Become a Public Benefit LLC?

Why Bloom Works is Proud of its New Letters

The worlds of business and government are defined by a dizzying system of acronyms, and it is hard to keep them all straight. As a newly certified Public Benefit Limited Liability Company (PBLLC), we wanted to take a minute to unpack our new letters and explain what they mean and why they’re important to us.

Bloom Works operates at the intersection of government, business, non-profits, academics and technology — an emerging area called public interest technology, or PIT (more letters!). One of the collective goals of our industry is to educate the public about the importance of organizations built to serve people first.

Traditional corporations are required to prioritize maximizing shareholder value, with public benefit viewed as a convenient side effect of the business. This singular view of the American corporate mission changed in 1994, with the introduction of the “triple bottom line,” or the 3Ps of performance: People, Planet and Profit. Business consultant John Elkington coined the term to emphasize the importance of seeing value beyond profit, and to name the areas where a business can create impact in the world.

In 2013, the state of Delaware enacted legislation to create the Public Benefit Corporation, a for-profit business entity that must produce a public benefit and operate in a responsible and sustainable manner. Examples of PBCs include Patagonia, Etsy, Ben & Jerry’s, Kickstarter, Warby Parker and many more. These companies have committed to building their business strategies and practices around contributing to the public good.

In June 2021, Bloom Works received certification as a Public Benefit LLC in the Commonwealth of Pennsylvania. The PBLLC model enables a Limited Liability Company to participate in a similar model as a Public Benefit Corporation.

Bloom has just begun to assemble the framework necessary to report on its public benefit offerings, which includes pro bono work and selecting projects that provide large-scale public benefit value. As Bloom navigates the requirements of PBLLC status, it will share insights and tips to help other organizations considering this special designation.

The benefits of working with a Public Benefit LLC are numerous, including:

• Altruism-driven staff who share a dedication to public service
• Business philosophies that mirror the values of public service
• Socially-conscious constituents will value working with service-driven organizations

As a public interest technology company, altruism is baked into the Bloom Works identity and strategy. Over the last 2 years, we’ve explored and discovered technical interventions to help improve the foster care system, the organ donation system, and ways to communicate climate resilience more effectively to BIPOC and indigenous populations. Bloom Works is focused on supporting the country’s most vulnerable citizens through the power of technology and design.