The Centre for Social Innovation [CSI] is looking to expand, and to give social innovation a new home in downtown Toronto. CSI is a social enterprise with three locations in Toronto and a location in New York City. They’re a coworking space, community, and a launchpad for people who are changing the world. CSI seeks to turn the challenges that society is facing currently, economically, socially, culturally, and environmentally, into opportunities to improve communities and the planet through innovation.
CSI has purchased a 64,000 sq. ft. brick and beam building near Queen and Spadina to expand its globally recognized coworking model. They’re bringing back the Community Bond, which they used to purchase the CSI Annex location, offering an annual return of 3 – 4.5% to finance the creation of a new home for social innovation.
The Community Bond is an interest-bearing loan that allows a nonprofit to leverage its community of supporters to pursue its mission, build its resiliency, and create more vibrant communities. Your investment earns you an annual return, is backed by the underlying asset (in this case, a building), and has a social and/or environmental benefit as well as a financial return.
There are three bond offerings available to investors, Series C Bond, Series D Bond, and Series E Bond. Series C Bonds are available with a minimum investment of $10,000 and provide a 4% interest rate. Series D Bonds are available with a minimum investment of $50,000 or $1000 if you are currently a CSI member, and provide a 4.5% interest rate. Series E Bonds were created to allow more involvement from the community, allowing invests of $1000 or more, with an interest rate of 3%. Individuals making an investment of $10,000 or more will receive a complimentary CSI Community Membership until the bond’s maturity date, just shy of 5 years.
To learn more about CSI’s Community bonds and how you can get involved, visit their community bonds page, or FAQ on community bonds.
