Community Wealth Blog
I started helping mission-driven entrepreneurs raise capital almost ten years ago. My clients have collectively raised almost $20 million, with amounts ranging from $150,000 to $4 million.
About two years ago, I was compiling a list of the clients that I had helped to raise money. At that time, I could honestly say that every client that I had worked through the whole process with (i.e. if I excluded those that changed their minds and didn’t complete the process) had met their fundraising goals. Some took longer than others, but all of them had eventually reached their goals.
Read more and see pictures from our event Advancing the Anchor Mission of Healtcare, hosted on December 12th and 13th in Washington, DC. The convening brought together health system leaders to reimagine the role of healthcare in creating community health and well-being.
Want to use Conversations on Community Wealth Building in a reading group? Want to give a copy to every member of your city council or your credit union's board? We're making five-packs of our new book collecting a decade's worth of interviews with key community wealth leaders available at a discounted rate of 35% off the cover price:
The worker-owners of Real Pickles in Massachusetts raised $500,000 through a direct public offering (DPO)—a fundraising vehicle similar to an initial public offering in that a business can advertise the offering openly and can accept non-wealthy investors. However, DPOs require substantially less in legal costs, are targeted at stakeholders such as customers and neighbors, and are able to raise up to $1 million.
Pioneering the sale of preferred shares to impact investors, the 120-member worker-cooperative Equal Exchange has been able to raise $16 million. Preferred shares are a form of equity with limited voting rights; the stock price does not rise over time and investors instead enjoy a stream of dividends. Read more in this excerpt from our report, Strategies for Financing the Inclusive Economy.
In March 2015, the Brooklyn-based online handicrafts marketplace Etsy became the largest certified B Corporation to sell shares in an IPO; it is one of only a few to do so. Etsy raised $267 million.
During the United States Federation of Worker Cooperatives membership meeting this past July in Austin, Texas, the Federation shared with its membership the newly created Racial and Economic Justice Member Council. The Council is hoping to facilitate the Federation’s adoption of three more principles that will guide worker cooperatives. This marks an important institutional change, as organizations strive to create and sustain racial and economic justice.
The presence of the 2016 Republican National Convention cast a national spotlight on Cleveland, Ohio. Looking to highlight the struggles and hopes of ordinary low-income local residents, many visiting journalists found their way to the Evergreen Cooperatives, a group of three linked employee-owned social enterprises based in the Greater University Circle area of Cleveland's East Side.