Rhode Island

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. The ways in which the benefit corporation pursued a specific public benefit that the articles of incorporation state it is the purpose of the benefit corporation to create; and 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 specific public benefit.
    4. The process and rationale for selecting or changing the third-party standard used to prepare the benefit report. 
  2.  Provide an assessment of the overall social and environmental performance of the benefit corporation against a third-party standard, either applied consistently with any application of that standard in prior benefit reports or accompanied by an explanation of the reasons for any inconsistent application or the change to that standard from the one used in the immediately prior report:
  3. Names of the benefit director and benefit officer, if any, and the address to which correspondence to each of them may be directed.
  4. The compensation paid by the benefit corporation during the year to each director in the capacity of a director.
  5. The statement of the benefit director is described in subsection 7-5.3-8(c).
  6. A statement of any connection between the organization that established the third-party standard, or its directors, officers, or any holder of five percent (5%) or more of the governance interests in the organization, and the benefit corporation or its directors, officers or any holder of five percent (5%) or more of the outstanding shares of the benefit corporation, including any financial or governance relationship which might materially affect the credibility of the use of the third-party standard.
  7. If the benefit corporation has dispensed with, or restricted the discretion or powers of, the board of directors, a description of: 
    1. The persons that exercise the powers, duties, and rights and who have the immunities of the board of directors; and
    2. The benefit director, as required by subsection 7-5.3-8(f). 
  8.  If during the year covered by this benefit report, a benefit director resigned from or refused to stand for reelection to the position of benefit director, or was removed from the position, and the benefit director furnished the benefit corporation with any written correspondence concerning the circumstances surrounding the resignation, refusal, or removal, the benefit report shall include that correspondence as an exhibit.

Form for filing: https://docs.sos.ri.gov/documents/BusinessServices/633-benefit-corporation-annual-report.pdf

  1. File within 120 days following the end of the fiscal year
  2. Pay the filing fee of $60 to the Department of State - Business Services Devision
    1. An additional $25 fee is required if the form is not filed within 150 days of the fiscal year end
  3. Entity ID Number
  4. Exact name of the corporation
  5. Principal Office Address 
  6. NAICS Code
  7. State of Incorporation
  8. Brief description of the character of business conducted in Rhode Island
  9. List all officers (names and addresses)
  10. List all directors (names and addresses)
  11. Name shares authorized
  12. Name shares issued, number of shares, class/series, and par value.

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