Commongrounds Cooperative

Real Estate

Overview

Raised to Date: 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
unlikely
Avg. Daily Raise

$954

# of Investors

10

Momentum
warm.svg
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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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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Commongrounds Cooperative 05/01/2023 MainVest - $12,400 Revenue Share Active RegCF
Commongrounds Cooperative 07/31/2022 MainVest - $429,800 Revenue Share Funded RegCF
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Commongrounds Cooperative on MainVest 2023
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Platform: MainVest
Security Type: Revenue Share
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