Overview
Raised: $429,800
Total Commitments ($USD)
Platform
MainVest
Start Date
10/07/2021
Close Date
07/31/2022
Min. Goal
$100,000
Max. Goal
$1,500,000
Min. Investment
$100
Security Type
Revenue Share
Series
Pre-Seed
SEC Filing Type
RegCF
Rolling Commitments ($USD)
Status
Funded
Reporting Date
07/31/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$1,452
# of Investors
351
Momentum
Funded
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Year Founded
2018
Industry
Real Estate & Construction
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
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 $1,500,000. The campaign proceeds will be used for 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 |
$165,326 |
$0 |
|
Total Liabilities |
$165,326 |
$0 |
Financials as of: 10/07/2021
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