Recorded an interesting conversation tonight w/ Tiffany Lascado, the founder of the #Lei Company #Coop, which is a #WorkerCoop of mostly #Pacifica women raising investment to expand into the school graduation market in #California.
Our chat, in which we discuss the co-op's origins, lei-making, and their hopes for the future can be viewed here: https://youtu.be/wiUwuVjE0Es
If you want to chip in, minimum investment is $250, and can be done here (I'm in for $500): https://crowdfundmainstreet.com/campaigns/mdfxl1gl #coops
@mattcropp Perhaps I shouldn't even get involved if I can't answer this myself after looking through the documents, but since this isn't just a donation, does my money earn dividends over time, or gain interest, or some other thing? Perhaps this is essentially just a zero-interest loan? And how long do they hold on to investments until the investors can get their money back? I see there are rewards for different levels of commitment, but that's all I could find really.
@amikigu The terms are in the offering document; the vehicle is non-voting preferred shares that have a target dividend of 5% per year that is to be paid prior to any patronage refund to worker owners. So, if there is profit, the investors get the first slice up to that 5% limit.
After 5 years, investors can ask for the co-op to buy back the shares at face value, which the board can do at its discretion if the co-op in in the financial position to do so.
@mattcropp Thanks for explaining all that to an investor-newbie!
social.coop is a cooperatively-run corner of the Fediverse. The instance is democratically governed by its members, who generally share an interest in the co-op model, but topics of discussion range widely.
Our instance is supported by sliding scale contributions of $1-10/mo made via Open Collective. You must have an active Open Collective account to apply for membership; you may set one up here