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Maslon Featured in Minneapolis/St. Paul Business Journal Article on Advising Charitable For-Profits; Terri Krivosha Offers Commentary

February 21, 2012

Maslon was featured in the February 17 Minneapolis/St. Paul Business Journal article titled "Maslon Advises Charitable For-Profits." The article speaks to the increasing popularity of "businesses that donate profits to charity or otherwise do good at the bottom line's expense," adding that Maslon attorneys have noticed the trend and are helping charitable businesses "navigate the unfamiliar territory that separates nonprofits from for-profits."

The article highlights the work of Maslon attorneys Terri Krivosha, chair of Maslon's Business & Securities Group, Paul Chestovich, co-chair, and Mark Baumann, a partner in the group—all of whom advise organizations on the intricacies of for-profit and nonprofit incorporation, funding, mergers and acquisitions, tax law, and other related legal issues. Krivosha, who leads the social enterprise team shared, "There's an opportunity to be creative, and it's interesting."

Barb Hensley, founder and CEO of LeeRyan Corp., which owns and operates two Hope Chest retail shops in the Twin Cities, has engaged Maslon to help steer the organization clear of legal pitfalls. The shops fund research and advocacy through an associated nonprofit, Hope Chest for Breast Cancer Foundation. In the article, Hensley states, "If I had gone just to a nonprofit specialist, I'm not sure they would have been able to grasp the whole impact of the standalone business. It's really tricky. It hasn't been done that much."

Ann Graham, the director of the Hamline University School of Law Business Law Institute offered, "Maslon's practice is like no other in the Twin Cities. It is 'synergistic with and complimentary to' Maslon's business group and is a good way to lengthen the firm's client list by serving a growing business segment." She added, "Every publicly traded corporation in America has a focus on corporate governance and corporate social responsibility. That kind of involvement is going to generate issues. This should be the wave of the future."

To read the complete Minneapolis/St. Paul Business Journal article, go to: Maslon advises charitable for-profits.

Terri Krivosha is a partner at Maslon, chair of the Business & Securities Practice Group, and leads the Social Enterprise team. She works with a vibrant network of entrepreneurial and dynamic businesses and those who fund them—with a particular interest in social ventures.

Paul Chestovich is a partner and co-chair of Maslon's Business & Securities Group. In addition to representing large national businesses and small closely held businesses in a variety of commercial transactional work, he also counsels clients in a variety of industries who are forming new businesses in corporate, limited liability company, and partnership forms.

Mark Baumann is a partner in Maslon's Business & Securities Group. His practice is primarily tax-related, including employee benefits, executive compensation (current or deferred), equity-based incentive plans, tax planning and tax disputes, partnerships, joint ventures, limited liability companies, other closely held businesses, professional firms and tax-exempt organizations.


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