We are offering shares under the Vermont Crowdfunding Law which requires all investors be Vermont residents. However, we are also accepting donations and for large donations have a means for the donation to be tax-exempt via a partnership with the Maple Corner Community Center. Fundraising will occur in two stages:
- Stage 1: We have identified investors in the community with the means to contribute significant funds. From this group we anticipate meeting our first benchmark of $200,000. Reaching this goal will trigger the next step in our MOU with the current owners of the Maple Corner Store to establish a purchase and sales agreement. We anticipate raising these funds by the end of August 2019.
- Stage 2: Once we reach the $200,000 threshold and establish a purchase and sales agreement, we will cast a wider net to more members of the community, answer questions and solicit investments. During this stage we anticipate raising the remaining $250,000 to reach our total fundraising goal of $450,000. We anticipate raising these funds by October 15, 2019.
The great news is that thanks to the more than 40 community members who have already made pledges, we have successfully completed stage one and are more than halfway to the finish line! The bad news is the second half is always the hardest.
Currently, there are dozens of people we’ve talked to who haven’t pledged yet, so we don’t have a great idea of where we actually stand. We REALLY need everyone who hasn’t pledged yet to do so as soon as possible so we can track our progress as we move in towards the closing!