Maryland `B` corp. formed to help site search for proposed gay

Maryland benefit corporation formed to help site search for pro...
Sign In or Sign Up
ALWAYS FREE:
http://www.baltimoresun.com/business/bs-bz-gay-museum-bcor...
NEWSPAPER ADS
SPECIAL SECTIONS
JOBS
RENTALS
HOMES
CARS
HOME DELIVERY
DEC
12
44° F
MARYLAND
SPORTS
TOP WORKPLACES
HOT TOPICS
RAVENS
PERSONAL FINANCE
Joe Flacco
BUSINESS
LIFE
CONSUMING INTERESTS
Cafe Hon back on TV
HEALTH
ENTERTAINMENT
REAL ESTATE
Hot on the Web
EVENTS
REAL ESTATE WONK
Ravi Shankar
JOBS
OPINION
GIFT GUIDE
Ayanbadejo Honorary Gay?
VIDEO
BALT TECH
DEALS
PEOPLE ON THE MOVE
Mice at BWI
Search
Home > Business
Maryland 'B' corp. formed to help site search for
proposed gay heritage museum
Research finds money isn't everything when it comes to
choosing a workplace
Group has sought permanent D.C. home since 2008
Comments
7
31
1
Tweet
6
Recommend
13
Northwestern Mutual gives its workers the flexibility to
find their own path
With students and employees, McDonogh School fosters
a community spirit
By Lorraine Mirabella, The Baltimore Sun
5:30 p.m. EST, December 7, 2012
>>> Read more 2012 Top Workplaces stories
Organizers of a proposed Washington, D.C., museum focused on lesbian, gay, bisexual and transgender heritage
have formed a benefit limited liability corporation in Maryland that will work to find a museum site.
The Velvet Foundation, a nonprofit group that has been planning the museum and seeking a permanent home in
D.C. since 2008, will be the beneficiary of the newly formed Oliver-Grayson Holding Co. Benefit LLC., organizers
announced.
A Maryland law took effect in October 2010 allowing businesses to organize as "benefit corporations," hybrids of
for-profit and nonprofit models that aim for public benefits as well as profits.
Plans call for either acquiring or building a facility, said
Gavin/Solmonese LLC, a financial advisory firm that is advising the
museum planners and will help raise capital.
Related
Organizers hope to raise between $25 million and $40 million to buy
a building, the Washington Business Journal reported Friday.
Commercial real estate firm Studley Inc. will help with the property
search.
Find: Baltimore-area museums
"Being the beneficiary of the Benefit LLC will enable us to attract
investors who are not only committed to the museum but who are
interested in the bottom line," said Tim Gold, CEO of the Velvet
Foundation, in a statement.
Maryland, the first state to authorize benefit corporations, is one of
12 states that have passed "B" corporation laws.
Find: Gay & lesbian events in Baltimore
"It is vitally important to our community and to our country that the
National LGBT Museum exists," Joe Solmonese, managing director
and founding partner of Gavin/Solmonese, and former president of
the Human Rights Campaign, said in a statement.
Newsroom directory | Social Sun
Business videos
StubHub president on
12-12-12 benefit concert
lorraine.mirabella@baltsun.com
Text BUSINESS to 70701 to get Baltimore Sun Business
Find: Gay & lesbian bars in Baltimore
text alerts
Section: Gay & lesbian interest
National Pinball Museum heading for
Baltimore
See more stories »
Ads by Google
1 of 3
12/12/12 2:34 PM
Maryland benefit corporation formed to help site search for pro...
http://www.baltimoresun.com/business/bs-bz-gay-museum-bcor...
Most popular now
Governors plead for urgent online sales tax authority
Find Gay Men
Paul McCartney and the pope are making 12/12/12 a
day to remember
Search Over 10 Million Members
Meet Singles Near You. It's Easy!
Facebook unveils new privacy controls
Not waiting for fiscal cliff fix, IRS posts 1040 for 2012
www.Zoosk.com
Andreessen denies Internet bubble, advises Times to
stop printing
Business resources
Copyright © 2012, The Baltimore Sun
Join now for Baltimore Sun All Digital Access >>
Comments
31
7
1
Tweet
Recommend
6
13
Move
Highest-earning
area CEOs
Most expensive
areas
Baltimore's Top
Workplaces
Are you paid
enough?
Health Pros on
the Move
People on the
Ads by Google
Meet Old Gay Men
Find Local Old Gay Men Near You. View Profiles 100% Free. Join Now!
www.GayMatureDating.com
RECOMMENDED FOR YOU
FROM AROUND THE WEB
Towson grad Mike Rowe loses his 'Dirty Job'
Credit Score Ranges: What's a Good Credit Score?
Question 7 winners spent mostly out of state
Abingdon man charged with filming daughter in
the shower
Big Ten targeted Maryland partly because it feared
losing Penn State
PriceRite will open Wednesday in Pigtown
| TransUnion
10 Worst Cars Over The Past 60 Years | TheStreet
Mother and stepfather allegedly beat 7-year-old
son to death | theGrio
10 Things You Should Never Buy at Garage Sales |
Reader's Digest
Sorry Fellas: Women Who Broke Hearts By Coming
Out As Lesbians | Bossip
[what's this]
Popular Stories
Former Ravens coach
Brian Billick chimes in
on Cam…
2 of 3
Asa Jackson
suspended four games
for violating NFL…
J.J. Hardy expresses
disappointment about
the Orio…
Sources: Cameron's
play calls vs. the
Redskins spa…
O'Malley: Counties should stop paying speed
One flown to trauma center after Harford crash
With Cam Cameron gone, all eyes on Joe Flacco
Ravens news, notes and opinions
Police arrest fugitive suspected of killing man in
Back in Baltimore, Wes Moore has big plans for his
12/12/12 2:34 PM
Maryland benefit corporation formed to help site search for pro...
Comments (7)
http://www.baltimoresun.com/business/bs-bz-gay-museum-bcor...
Add / View comments | Discussion FAQ
johnwinthrop at 12:26 PM December 11, 2012
special interest museums really shouldnt have nonprofit status.
Really, WOW at 7:46 AM December 08, 2012
A museum focused on lesbian, gay, bisexual and transgender heritage. Are you kidding me? Has it come
down to building a museum for this or every other agenda that comes down the road. Besides the
marketing company that stands to make money, who in their right mind would donate to something like
this? Wait, they can put the statue of DuBurns and maybe one of Dixon out front, perfect. B-more is
already known for the city that bleeds, now it will be known as the biggest joke.
Can I get a museum for people who go to work each day or those that sacrifice luxuries just to put food
on the tables for their kids? If the city allows this, please post those companies that made donations. I
want to know where NOT to spend my money.
Roman_Maronie at 4:07 PM December 07, 2012
Oh cool a museum dedicated to who you choose to bang. Congrats on coming up with the worlds
dumbest idea.
COMMENTING POLICY: Readers are encouraged to post comments that are germane to the article. We
reserve the right to remove any user, and to delete comments that contain abusive language or personal
threats, as well as those that are racist or demeaning. Readers may report comments by clicking "Report
Abuse." Once a comment has been flagged, a Baltimore Sun staffer will investigate. Click here for more
information on commenting.
Posts from business, finance and tech bloggers
TEDCO to launch $50M tech transfer fund in
partnership with Chesapeake Crescent Initiative
[VIDEO]
- Technically Baltimore
2U, formerly 2Tor, partners with American
University to launch online master’s program in
international relations
- Technically Baltimore
Vircity to offer startup courses in 2013 //
TechBreakfast t-shirts // TenantRex launches //
Jargon to retire in 2012 [Startup Roundup]
- Technically Baltimore
New Adventures
- Mizz Information
SoMariCon Baltimore gaming convention needs
$6K: Kickstarter of the Week [VIDEO]
- Technically Baltimore
Station North Arts and Entertainment Inc. begins
work on new HQ and Annex Theater space [VIDEO]
- Technically Baltimore
>> Submit a blog: Give your favorite voices exposure
Events\Venues
Newsletters
Mobile/Apps
Advertise
Subscribe
Site Map
Print Edition e-Edition Explore Baltimore County Explore Carroll Explore Harford Explore Howard Sun Store
Advertise Sun Insider Terms of Service Privacy Policy About Our Ads Media Kit Search/Archive Contact Us
About Us
Baltimore Sun Chicago Tribune
The Morning Call
Daily Press
Hartford Courant
Los Angeles Times
Orlando Sentinel
Sun Sentinel
The Baltimore Sun, 501 N. Calvert Street, P.O. Box 1377, Baltimore, MD 21278
A Tribune Newspaper website
3 of 3
12/12/12 2:34 PM