Allen Bromberger is nationally recognized for his groundbreaking work on the development of nonprofit and for-profit legal structures which support the simultaneous pursuit of financial and social goals. With thirty-five years of legal practice, and as an author of The Art of Social Enterprise and a sought-after speaker on the intersection of business and philanthropy, Allen is at the forefront of the fourth sector and social enterprise movements that have risen to prominence in recent years.
In providing legal counsel in the sphere of socially responsible businesses and impact investments, Allen’s practice includes
- Serving as outside general counsel and advisor on a wide variety of issues, including corporate ownership, governance, finance, transparency, accountability, intellectual property, and branding
- Advising on stakeholders, strategic partnerships, mergers, and acquisitions
- Creating legally enforceable obligations around mission and embedding them into corporate structures and deal documents
- Advising charities on the type and scope of commercial activities they can conduct, how they should be structured, and how they can be financed
- Structuring the legal and financial relationships in “tandem” for-profit – nonprofit ventures
- Establishing joint ventures, strategic partnerships and commercial co-ventures between businesses, family offices, funds, investors, and nonprofits
- Separating nonprofit commercial enterprises into for-profit businesses
- Structuring socially responsible investments, including program-related investments and mission-related investments
- Setting up benefit corporations, social enterprises, nonprofits, micro-franchises, and their respective operating agreements, filings, and registrations
- Development of a for-profit socially responsible business
The business partners with federal programs to hire up to 50% of its workforce from a population of former substance abusers and formerly incarcerated persons giving a “second chance” to people who are otherwise largely unemployable. The enterprise has flourished and is now in its third round of financing.
- Structuring the successful spin-off of a for-profit enterprise by a nonprofit
The parent nonprofit developed medical equipment for use in rural clinics of developing countries. The organization began by selling equipment to foundations that placed the equipment in clinics they were supporting outside of the U.S. When other markets and customers came forward, the company needed the freedom to grow independently. After separation from the parent nonprofit, the business has grown successfully, and the profits have been used to support the parent nonprofit’s mission.
- Structuring a PRI for a private foundation, including term-sheet negotiation
Negotiated term sheet, performed due diligence, drafted deal documents, and oversaw all aspects of the transaction through closing. The investment was successfully completed, and the company is expanding impact and is financially successful.
Before joining Perlman & Perlman, Allen served as President of Power of Attorney, a private operating foundation in New York City, and as the Executive Director of Lawyers Alliance for New York, a public interest law firm. From foundations and family offices to funds and entrepreneurs, Allen offers counsel and serves as a trusted advisor and connector for his clients. Allen’s ambition is to build legal support for social benefit that will thrive for years to come.
Professional & Nonprofit Affiliations
The American Sustainable Business Council
Fourth Sector Network
Social Venture Network/Investors Circle
NYU Reynolds Program in Social Entrepreneurship
University of California/Hastings College of Law, J.D.
University of California/Berkeley, B.A.