For immediate release
London, ON – Innovation Works, London’s co-working space for social innovators and changemakers, announces the launch of our second Community Bond. In 2015, Innovation Works, was the first organization to bring the Community Bond investment model to London, raising $1 million in capital funding to help open our space through the support of local investors in just 3 short weeks.
With the launch of our second bond, Innovation Works seeks $1 million in new and renewed investments to help us continue to deliver on our vision to bring innovators across the sectors of nonprofit, business and government together and create transformational change in our community. The bond is offered by Pillar Nonprofit Network, the backbone organization for Innovation Works. Prior to our public launch, we’ve already reached 33 percent of our goal.
A community bond is an innovative impact investing tool allowing nonprofits or cooperatives to generate social and financial returns through support from community investors. It’s an interest-bearing loan that enables supporters to align their investments with their values and enjoy competitive returns. With a minimum investment of $1,000 for five years, our Community Bond provides investors with three percent interest each year and no fees - which first round bond holders experienced faithfully for the past five years.
Local impact investor, Terry Zavitz explains the unique appeal of the investment opportunity, saying: “The Innovation Works Community Bond is the first investment in my portfolio that I can drive by and say, I am a part of the impact happening there!”
As concern grows both locally and worldwide for social and environmental issues amplified by COVID-19, impact investing is a way to make a difference. It allows investors to put their dollars directly towards causes they believe in and build a more equitable economy in the process. It’s a form of investing that’s on the rise.
According to a 2018 report on Canadian Impact Investment Trends from the Responsible Investment Association, the amount of impact assets under management in Canada was $14.75 billion in 2018, up from $8.15 billion two years before – a rise of 81 percent over two years. On a broader scale, the Global Impact Investing Network estimates there is currently $715 billion USD in the impact investing market worldwide.
“The Innovation Works Community Bond offers socially conscious investors an opportunity to see the tangible effects of their investment in their community,” said André Vashist, Pillar Nonprofit Network’s Director of Social Innovation. “An investment in Innovation Works is an investment in the community impact initiatives that will continue in our space for years to come.”
Those interested in learning more or investing in the Innovation Works Community Bond can find additional information at www.innovationworkslondon.ca/communitybond.
About Innovation Works
Innovation Works by Pillar Nonprofit Network is a thriving co-working space for social innovators and changemakers located at 201 King Street. It is the only space in London that is intentionally designed to encourage collaboration and meaningful connections between individuals and organizations invested in positive community impact. For more information, please visit www.innovationworkslondon.ca.
 Source: “2018 Canadian Impact Investment Trends Report.” Responsible Investment Association, www.riacanada.ca/research/2018-impact-trends-report/.
 Source: “2020 Annual Impact Investor Survey.” Global Impact Network, www.thegiin.org/research/publication/impinv-survey-2020.