What is a Societal Benefit Organization (SBO)?

A Societal Benefit Organization (SBO) is an entity that is a for-benefit, for-society, for-profit, or nonprofit that either generates an earned income but gives top priority to an explicit social and/or societal mission or seeks a social and/or societal benefit without generating income. This approach can be found across a wide range of educational and academic institutions and industries. SBO’s pursue a myriad of important social/societal goals such as facilitating or achieving  broader impacts, facilitating or achieving valorization and knowledge mobilization, and community engagement. SBOs can also focus on several specific activities such as fighting drug addiction, reducing deaths from malaria, producing renewable energy, and reducing poverty.