Arkansas

Requirements: 

  1. Use a qualified third-party standard as a basis for your annual benefit report.
  2. Use the results of that assessment to create a benefit report that states the following:
    1. A narrative description of:
      1. The ways in which the benefit corporation pursued the general public benefit during the year and the extent to which the general public benefit was pursued; 
      2. Both:
        1. The ways in which the benefit corporation pursued a specific public benefit that the articles of incorporation state is the purpose of the benefit corporation to pursue;
        2. The extent to which that specific public benefit was pursued; 
      3. Circumstances that have hindered the creation by the benefit corporation of a general public benefit or a specific public benefit; and 
      4. The process and rationale for selecting or changing the third-party standard used to prepare the benefit report;
    2. Third-Party Assessment of general social and environmental performance
      1. Applied consistently with an application of that standard in earlier benefit reports; or accompanied by an explanation of the reasons for an inconsistent application.
      2. The assessment does not need to be performed, audited, or certified by a third-party standards provider;
    3. Name of benefit director and benefits officer, if any, and contact address.
    4. The compensation paid by the benefit corporation during the year to each director for serving in the capacity of a director.
    5. The statement of the benefit director as described in 4-36-302.
    6. A statement of the connection between the organization that established the third-party standard or its directors, officers, or a holder of 5% or more of the governance interests in the organization, and the benefit corporation or its directors, officers, or a holder of 5% or more of the outstanding shares of the benefit corporation, including a financial or governance relationship that may materially affect the credibility of the use of the third-party standard.
  3. Share the finished annual benefit report with each shareholder. (Before the stated due date of an annual franchise tax under § 26-54-104; or when the benefit corporation delivers an annual financial report to its shareholders)
  4. Make the benefit report public by posting it on the company website or having available copies to send to those who request it. Director compensation can be removed from publicly available documents. Financial or proprietary information included in the benefit report may be omitted from the copies provided to the public.
  5. Deliver the annual benefit report to the Secretary of State for filing concurrently with the delivery of the benefit report to shareholders.

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