Indiana

Requirements: 

  1. A narrative description of:
    1. The ways in which the benefit corporation pursued general public benefit during the year and the extent to which general public benefit was created.
    2. Both the:
      1. Ways in which the benefit corporation pursued a specific public benefit that the articles of incorporation state are the purpose of the benefit corporation to create; and
      2. The extent to which that specific public benefit was created.
    3. Any circumstances that have hindered the creation by the benefit corporation of general public benefit or a specific public benefit.
    4. The process and rationale for selecting or changing the third-party standard used to prepare the benefit report.
  2. An assessment of the overall social and environmental performance of the benefit corporation against a third-party standard:
    1. Applied consistently with any application of that standard in prior benefit reports; or
    2. Accompanied by an explanation of the reasons for any inconsistent application; or the change to that standard from the standard used in the immediately prior report.
  3. The name of the benefit director and the benefit officer, if any, and the address to which correspondence to each of them may be directed.
  4. The compensation is paid by the benefit corporation during the year to each director in the capacity of a director.
  5. The report of the benefit director is described in IC 23-1.3-6-3.
  6. A statement regarding any connection between the organization that established the third-party standard, or its directors, officers, or any holder of at least 5% of the governmental interests in the organization, and the benefit corporation or its directors, officers, or any holder of at least 5% of the outstanding shares of the benefit corporation, including any financial or governance relationship that might materially affect the credibility of the use of the third-party standard.
  7. If, during the year covered by a benefit report: 
    1. A benefit director: 
      1. resigned from or refused to stand for reelection to the position of benefit director; or 
      2. was removed from the position of benefit director; and the benefit director furnished the benefit corporation with any written correspondence concerning the circumstances surrounding the resignation, refusal, or removal; the benefit report must include the correspondence described in subdivision (2) as an exhibit. 
  8. The following are not required to be audited or certified by a third party: 
    1. The benefit report.
    2. The assessment of the performance of the benefit corporation in the benefit report.
  9. A benefit corporation shall send its annual benefit report to each shareholder on the earlier of 120 days following the end of the fiscal year of the benefit corporation or the same date that the benefit corporation delivers any other annual report to its shareholders.
  10. If a benefit corporation has an Internet website, a benefit corporation shall post all its benefit reports on the public part of its Internet website. However, the compensation paid to directors and financial or proprietary information included in the benefit reports may be omitted from the benefit reports posted on the Internet website. 
  11. The benefit corporation shall deliver, concurrently with the delivery of the benefit report to shareholders, a copy of the benefit report to the secretaries of state for filing. However, the compensation paid to directors and financial or proprietary information included in the benefit reports may be omitted from the benefit report as delivered to the secretary of state.
  12. The fee established in IC 23-1-18-3(a) applies to an annual benefit report delivered for filing under this section.

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