Londoners are invited to participate in the city’s first-ever community bond.
Innovation Works, London’s only place intentionally designed to encourage social innovation, is inviting all Londoner’s to take part in the city’s first-ever community bond. A community bond is an interest-bearing loan that allows participants to align their investments with their values, while enjoying a stable return.
The bond, targeting to raise $1 million, will raise funds needed to complete the renovations and provide cost effective capital for the Innovation Works building located at 201 King Street. Even prior to the official launch, over 60% of the target has been raised from private donors and community organizations, including a $500,000 investment from the Lawson Foundation.
"Innovation Works is a great step forward for London in bringing together innovative minds who have a desire to transform community.” explains Marcel Lauzière President and CEO of the Lawson Foundation. “The Foundation’s long history of support for community-based initiatives in the London area has been shaped by our deep roots in this community. We are proud to invest in this landmark undertaking in London."
Pillar Nonprofit Network is the backbone organization and owner of Innovation Works. Through a community bond, supporters who share in Pillar’s mission to create an engaged, inclusive and vibrant community can make an investment that earns interest and creates impact.
“The opportunity to support an initiative like Innovation Works in such a unique way was an easy decision for me," says Lynn Davis, early adopter and investor. “When I stop to consider the impact this hub will have on London, I smile. It’s exciting to know that socially inclined individuals, companies, both for profit and not-for-profit, will be working in a collaborative environment, tackling some of our most challenging issues.”
Details of the community bond are being released today at 4:00 p.m. at the Innovation Works building, lower level at 201 King Street.
Innovation Works is on track for its opening in June 2016 and is currently open for tenant commitments.
For more information contact:
About Pillar Nonprofit Network
Pillar Nonprofit Network supports more than 340 nonprofit member organizations in fulfilling their missions in our community, while also making connections for community impact. Pillar provides leadership, advocacy and professional development, and promotes volunteerism, networking opportunities and information sharing. Pillar also believes fostering social enterprise, social innovation and cross-sector collaboration are key strategic priorities in building stronger and more inclusive communities. For more information, please visit: www.pillarnonprofit.ca
About Innovation Works
Innovation Works is a thriving shared space located at 201 King Street. It is the only place in London that is intentionally designed to encourage collaboration between social innovators. Pillar Nonprofit Network is the backbone organization behind Innovation Works, working with our community partners. For more information, please visit www.innovationworkslondon.ca