Innovative IPO Raises Million for Homeless

Innovative IPO Raises Million for Homeless

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warrenbuffett_nonprofit-ipo.jpgA new homeless shelter in San Francisco is using an innovative IPO program to raise money. Homeward Bound of Marin raised one million dollars by creating the world’s first nonprofit IPO (Immediate Public Offering) at $32.00 per share. The offering has attracted over 31,000 shareholders including Warren Buffet, who bought the first share.

The ROI (Return on Investment) for each share includes:

• 32 units of affordable housing and job training programs.

• A legacy of self-sufficiency.

• Invitations to Annual Events at their fabulous facility.

• A shareholder certificate.

• 10% discount off their homeless-run catering service.

• A letter confirming the IPO is tax-deductible.

Mr. Buffett gave his personal endorsement to the IPO, stating that it is “a good investment” for everyone.

The shelter can house up to 350 homeless per night, has a culinary school to help train and certify homeless in food services, and provides a variety of other services to homeless families and adults.

(Read more from Deborah Price at Belief.net)

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