| | Advanced Search

 

#39 to #1: Rhode Island’s Best Communities 2014—GoLocal News Team and Abe Dube and Jack…

Taveras Swings Back at Raimondo—Taveras Swings Back at Raimondo

Ric Santurri: Taveras’ Providence Problem—Ric Santurri: Taveras' Providence Problem

Dan Lawlor: Tell Jim: No Drone Dollars—Dan Lawlor: Tell Jim: No Drone Dollars

It’s All About Education: Can Recess Help Children Be More Successful?—It's All About Education: Can Recess Help Children…

LISTEN: Rhode Island’s Best Communities 2014—What is Rhode Island's best community?

Pats’ Camp: Underway with high expectations—Gronk cleared, training camp kicks off Thursday in…

NEW: Taveras Endorsed by Brotherhood of Police Officers, Government Employees—NEW: Taveras Endorsed by Brotherhood of Police Officers,…

NEW: Fung Questions Block on Campaign Finance Reporting—NEW: Fung Questions Block on Campaign Finance Reporting

NEW: Block Calls Reducing RI DMV Wait Times Top Priority—NEW: Block Calls Reducing RI DMV Wait Times…

 
 

NEW: Providence’s Capital Good Fund Launches Non-Profit IPO

Friday, January 24, 2014

 

Bruce Van Saun, CEO of RBS Citizens Financial Group with Andy Posner, Founder & Executive Director of Capital Good Fund

Capital Good Fund (CGF), a social change organization with national ambitions, has launched a non-profit IPO, or Immediate Public Opportunity to end poverty.

Through this approach, CGF seeks to raise at least $100,000 by issuing 4,000 ‘Social Innovation Shares’ priced at $25 a share. In addition to a tax-deduction, shareholders will be entitled to vote to fill one seat of CGF’s Board of Directors and will have access to other perks, such as CGF jewelry, t-shirts and custom ‘stock’ certificates.* In the first month of the campaign CGF has already sold 682 shares to 93 early adopters.

“One out of three Americans lives at or near the poverty line and income inequality is at its highest level since the Great Depression,” notes Andy Posner, Founder & Executive Director of CGF. “Solving these problems requires forward-thinking, a powerful business model and, yes, money. For us, the IPO concept opens the doors to engaged supporters from around the country—the kind of support we need to continue to grow.”

After five years of building the infrastructure needed for scale, CGF faces one primary barrier to bringing its services to families nationwide: capital. Specifically, they need exactly what high-growth for-profit ventures need: an infusion of capital with which they can invest in their rapid expansion.

High-profile leaders in the business, philanthropic, government and other sectors are getting on board to support both the IPO and CGF’s mission of ending poverty in America. These include Ellen Ford, CEO of People’s Credit Union; Bruce Van Saun, CEO of RBS Citizens Financial Group; and RI Representative Frank Ferri.

Alan Hassenfeld, former Chairman and CEO of Hasbro Toys and an active philanthropist in Rhode Island, has also purchased one of the first shares. “I believe strongly in Capital Good Fund’s model,” Hassenfeld said. “Too many companies seem to take advantage of the poor. This Non-Profit IPO concept will enable Capital Good Fund to bring its products and services to thousands of families in need.”

Funds raised through the IPO will be used to further CGF’s mission of using financial services to tackle poverty. In addition, a portion of funds will go toward key investments that will attract more donors, supporters and customers. For the campaign, CGF is using Indiegogo, a popular crowdfunding platform.

For more information, or to purchase Social Innovation Shares, visit igg.me/at/IPO or contact [email protected] (401-339-5437)

 

Enjoy this post? Share it with others.




Write your comment...

You must be logged in to post comments.