Commongrounds Cooperative

Commongrounds Cooperative

Early Stage

Real Estate

Real Estate

Overview

Raised this Round: Raised: $128,500

Total Commitments ($USD)

Platform

MainVest

Start Date

01/18/2023

Close Date

10/31/2023

Min. Goal
$100,000
Max. Goal
$1,000,000
Min. Investment

$100

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Year Founded

2018

Industry

Real Estate & Construction

Tech Sector

Non-Tech

Distribution Model

B2B/B2C

Margin

Low

Capital Intensity

High

Location

Traverse City, Michigan

Business Type

Life Style

Commongrounds Cooperative is raising funds on MainVest. It is a real estate cooperative in Traverse City that aims to develop real estate to meet community needs. The cooperative will be a building project and will also serve as the backbone for activities, wellness, and arts. Commongrounds Cooperative will offer two classes of ownership, real estate tenant owners and members of the community. Katherine Redman founded Commongrounds Cooperative in March 2018. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1 million. The campaign proceeds will be used for the repayment of bridge loans for construction, additional buildout costs, and operating capital.

Summary Profit and Loss Statement

FY 2021 FY 2020

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-106,146

$0

Summary Balance Sheet

FY 2021 FY 2020

Cash

$0

$0

Accounts Receivable

$0

$0

Total Assets

$77,331

$0

Short-Term Debt

$0

$0

Long-Term Debt

$165,325

$0

Total Liabilities

$165,325

$0

Financials as of: 01/18/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Commongrounds Cooperative 10/30/2023 MainVest - $128,500 Equity - Common Funded RegCF
Commongrounds Cooperative 07/30/2022 MainVest - $429,800 Revenue Share Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Commongrounds Cooperative on MainVest 2023
Platform: MainVest
Security Type: Equity - Common

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