This paper focuses on the ethical frameworks of social enterprises, out of two basic organizational documents which are unveiling the corporate moral discourse (codes of ethics and values statements). Three types of well-known social entreprises have been chosen : (1) charitable clubs and associations ; (2) cooperatives and mutuals ; (3) conventional private sector foundations. The main contribution of the article is to present the basic connections between social enterprises’moral discourses and some philosophical schools of thought. The paper show how the moral discourse of social entreprises is more or less philosophically coherent. Rational coherence could be applied to values (axiological coherence), or to the philosophical grounds of the discourse (philosophical coherence). The ethical framework of social entreprises is conveying business concerns as well as socially-focused and philosophically-rooted concerns. It is both enhancing economic (business-focused) and non-economic (social) aims. The philosophical challenge of social entreprises is to build up sense of collective identity, without having an ambiguous moral discourse. The moral discourse of social entreprises should have an inner coherence : the various documents (such as the code of ethics and the values statement) should enhance the same set of values. Moreover, if social entrepreneurs are unable to provide a basic philosophical orientation to their corporate moral discourse, then they will not contribute to any social change, since their moral discourse will not be trusted by anyone who is carefully reading the main organizational sources of corporate moral discourse.