Flexible purpose corporation
A flexible purpose corporation (FPC) was a class of corporation in California lacking a profit motive when pursuing a social benefit defined in its charter. A flexible purpose corporation differed from a Benefit corporation in that it targeted for-profit entities seeking traditional capital market investment. The classification was first created in 2012 and was retired in 2015 via legislation in favor of the social purpose corporation (SPC) classification, with existing FPCs continuing their existence as SPCs.