Commongrounds Cooperative
Real Estate
Overview
Raised: $12,400
Total Commitments ($USD)
Platform
MainVest
Start Date
01/19/2023
Close Date
05/01/2023
Min. Goal
$100,000
Max. Goal
$1,000,000
Min. Investment
$100
Security Type
Revenue Share
Funding Type
RegCF
Rolling Commitments ($USD)
Status
Active
Reporting Date
02/01/2023
Days Remaining
89
% of Min. Goal
12%
% of Max. Goal
1%
Likelihood of Max
Avg. Daily Raise
$954
# of Investors
10
Momentum
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Location
Traverse City, Michigan
Industry
Real Estate & Construction
Tech Sector
Non-Tech
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
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$0 |
$0 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-106,146 |
$0 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
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: 01/19/2023
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