Community Crowdfunding Investors: Exit Options & Planning
Thank you for being part of the Commongrounds Cooperative community. Your investment has made affordable housing and shared community space a reality in Traverse City, and we're grateful for your ongoing partnership.
Please review the information below and complete the investor planning form.
Exit Eligibility & Timeline
As communicated during our original campaign, investments were structured with a long-term holding period measured in "full calendar years after the investment."
For most early investors, 2026 is the final required holding year, and January 2027 is the first possible exit date.
Specifically:
2019 investors: Eligible after the 7th full calendar year → earliest exit January 2027
2021 investors: Eligible after the 5th full calendar year → earliest exit January 2027
2022 investors: Eligible after the 5th full calendar year → earliest exit January 2028
2023 investors: First exit window opens in approximately two years
Notification Windows:
2019 & 2021 investors: Notification window February–March 2026 (deadline: March 30)
2022 investors: Notification window February–March 2027 (deadline: March 30)
If you notify us during the window by the March 30 deadline, exits are funded and completed in January of the following year. If we do not hear from you by March 30, you will be rolled over to the next annual exit window.
Special Note for 2019 Investors
As part of the terms of your original investment, investors who remain invested through the tenth year receive a 20% bonus on original principal. This bonus applies to exits completed in January 2030 or later. If you exit in January 2027, you will not receive the bonus.
Example:
A $2,000 investment becomes $2,400 in principal, plus accrued returns, for exits in January 2030 or later.
Let Us Know Your Intentions
Whether you're planning to exit, interested in donating, or thinking about your investment timeline, we'd love to hear from you. Please take a few minutes to complete this brief form so we can better understand our investors' intentions and plan accordingly. Your input helps the Cooperative serve you and our community more effectively.
Complete the Investor Intentions Form
Your Options as an Investor
1. Remain Invested
Stay invested and continue accruing returns. Although you have not received cash returns, you are still accruing an annual return on your principal and any unpaid returns. Returns are generally paid upon exit, or if the Cooperative generates distributable cash surplus (not currently projected).
2. Exit When Eligible
During an annual window, you may exit and receive your original principal plus any accrued returns. Exits are subject to the Cooperative having sufficient funds available without compromising operations or reserves.
3. Donate Returns and/or Principal
Donate some or all of your returns and/or principal to the Commongrounds Foundation. The donated funds will be used to support 501(c)(3) tax-exempt activities in Commongrounds that are consistent with the Cooperative’s mission of connecting people to each other and to food, family, arts, and wellness. For example, contributions may help cover the costs of community and shared spaces, support affordable housing, and expand free or “pay-what-you-may” programming — ensuring more opportunities for the community to gather, grow, and flock together.
This option is available at any time. Visit our donation page for more information.
Tax Treatment of Donations:
Donated principal is tax-deductible
Returns donated before 2027 are not recognized as income and never subject to tax (and not tax-deductible)
Returns donated after 2027 are recognized as income and tax-deductible (assuming the cooperative declares and pays returns for 2026 and previous years in 2027)
Information Session and One-on-One Conversations
Join us for a hybrid in-person/virtual information session on March 12 at 12:00 PM (Noon) to review timelines, options, and ask questions.
You may also sign up for a 15-minute one-on-one conversation to discuss your individual situation; or, as always, just drop an email to hello@commongrounds.coop at any time with your questions.
Frequently Asked Questions
Q: Should I exit my investment? Does the Cooperative prefer I stay invested or exit?
The short answer is: we support you in doing what works best for you.
If you choose to stay invested, your capital continues to earn a financial return while supporting a mission-driven, community-rooted real estate project—and we'd truly love to have you remain part of the flock. Staying invested longer is especially helpful if you're able to be patient for a few more years, as we anticipate refinancing our mortgage in the future, which will make it easier to incorporate investor repayments.
At the same time, if this feels like the right moment for you to exit, we fully respect and support that decision, too.
In short: whether you're ready to spread your wings into a new chapter or stay perched with us a little longer, we're committed to honoring your choice and doing our very best to support you.
Q: Can the Cooperative afford to pay investor exits?
We want to be transparent: yes, we are actively planning to make 2027 exits possible.
Over the coming year, we expect to receive a one-time equity infusion by granting a 99-year master lease of the affordable housing to the Commongrounds Foundation, a 501(c)(3). In exchange, the Cooperative will receive a one-time, lump-sum payment. This is a win-win:
It permanently protects the affordable housing under nonprofit stewardship,
It allows the housing, under 501(c)(3) control, to access lower-cost financing and grant funding, and
It strengthens the long-term financial health of the project, as most of these funds will be used to reduce debt and lower ongoing operating costs. And, importantly, we will also reserve a portion specifically to support investor exits in this and future years.
Under our governing documents, exits are contingent on the Cooperative's ability to pay. That said, our clear intention is to structure things so we can support exits on a reasonable and predictable timeline whenever possible. Assuming the Foundation transaction moves forward as planned, we expect to be well positioned to do so in this year and future years.
Q: How do I access my current investment amount and accrued returns?
View your current investment amount and accrued returns anytime by logging into your Honeycomb account:
Use the email address associated with your original investment
If you've forgotten your password, use the "Reset Password" option
We are deeply grateful for your patience, partnership, and trust. Your investment has helped create a stable, community-rooted home for affordable housing and shared space in Traverse City, and we take seriously our responsibility to steward both your capital and our mission.
If you have any questions, please don't hesitate to reach out.
With appreciation,
Commongrounds Team
Commongrounds is Hiring a New Executive Director
Commongrounds is Hiring a New Executive Director
ABOUT COMMONGROUNDS COOPERATIVE
Commongrounds Cooperative is a forward-thinking real estate cooperative focused on cultivating community through cooperatively-owned spaces. Our pilot project is a four-story, mixed-use building located at 414 E. Eighth Street, featuring nonprofit, business, and residential tenants, as well as spaces for visual arts and events. We are committed to providing a dynamic and sustainable environment that enhances the intersection of food, family, arts, and wellness.
EXECUTIVE DIRECTOR POSITION SUMMARY
Experienced leader passionate about collaborating with tenant and community owners to operate a welcoming and inclusive community hub for food, family, arts, and wellness. Ideally, you’re familiar with a cooperative operating model - we are owned by the people who use our product, in our case, our first- and second-floor building tenants, apartment residents, and community patrons. Oversees operations; fundraising; and owner, partner, and public relations to drive mission and financial sustainability.
DUTIES & RESPONSIBILITIES (% of FTE)
Fundraising (50%):
Drive fundraising strategy, including developing case for support and donor tables and goals
Serve as primary fundraiser, building and maintaining relationships with individual donors, foundations, and government agencies.
Develop and implement sponsorship opportunities.
Develop collaborative community partnerships to activate Commongrounds community spaces to serve community needs
Finance (20%):
Collaborate with the board to develop the organization's financial strategy, including developing an annual budget for the Cooperative’s operations that delineates projected revenues and expenses.
Oversee the general finances of the Cooperative (including managing bookkeeper, tax matters, and audit), analyze organization performance and project financial performance.
With approval of the Finance Committee of the Board of Directors and extensive input from Tenant-Owner organizations , develop the budget.
Facilitate adoption of Open Book Management (goal for implementation in 2026-27)
Strategy, Operations, and Governance (20%)
Work collaboratively with the Board of Directors and Tenant-Owner (TO) organizations on governance, strategy, and sustainability, including setting annual objectives and key results (OKRs) for the cooperative.
Provide strategic leadership and oversee day-to-day operations, facilitating alignment of building activities with TO priorities and shared Cooperative mission and long-term goals.
Oversee the management of Cooperative staff and contractors including developing OKRs, hiring, firing, performance reviews, salary and benefits administration, policy and general supervision.
Oversee and, as necessary, directly solicit feedback from community owners and tenant owners to develop and implement continuous improvement initiatives, create better business practices and an organizational structure that will optimize performance and operating results.
Oversee commercial property manager contract and hospitality group agreement.
Marketing & Communications (10%)
Cultivate partnerships with external organizations, coalitions, policymakers and other key stakeholders
Represent the organization publicly, including with partner coalitions and relevant networks
Implement a marketing and communications strategy, including ensuring regular communication and engagement with community owners and investors
REQUIREMENTS
Proven track record of fundraising and grant management.
Excellent communication, facilitation, relationship-building, and public speaking skills.
Strong strategic thinking and project management skills.
Overseeing organizational finances and budget.
Demonstrated experience working with governing boards and/or diverse stakeholder groups to facilitate translating a shared vision into clear goals, roles, and priorities; and establishing accountability structures that ensure progress and alignment.
Strong commitment to Commongrounds values, philosophy and cooperative operating model.
Strong attention to detail and commitment to high standards of care for tenant-owners, community owners, investors and other key stakeholders.
Experience managing staff or teams, with a collaborative and supportive leadership style.
Ability to work independently and as part of a team in a dynamic, evolving organizational environment.
WORK LOCATION, HOURS, AND PHYSICAL REQUIREMENTS
The Executive Director will work on-site at Commongrounds, located at 414 E. 8th Street, Traverse City, MI.
While most job responsibilities will fall within normal working hours, as a key leadership position this role requires some flexibility to work during evenings and/or weekends as needed.
COMPENSATION AND BENEFITS
The Executive Director salary will be based on an FTE Salary of $90,000 to $110,000 annually and includes benefits, including health insurance. Benefits also include free access to onsite wellness facilities and potential participation in cooperative programs.
TO APPLY
To apply, please submit your application using the link provided (https://tinyurl.com/ycx8sehj). If selected, you will be invited to participate in a first-round interview which will take place virtually via Zoom in February 2026.
Job Type: Full-time
Pay: $90,000.00 - $110,000.00 per year
Benefits:
401(k)
Health insurance
Paid time off
People with a criminal record are encouraged to apply
Work Location: In person