Our mission is to create opportunities for the Church to love their neighbor. We will invest significantly in the community, attracting entrepreneurs aligned with our mission. To enhance our ability to raise capital while still serving our mission, we've created a unique blend of a non-profit organization and a for-profit subsidiary, which we refer to as a “capped-profit” company.
CommonPlace Ministries is a non-profit para-church organization funded through commercial leases with entrepreneurs aligned with the Church and its mission and charitable donations.
CommonPlace LP will be a capped-profit entity to allow partners to invest in our community and infrastructure. The fundamental principle of CommonPlace LP is that investors can receive a capped return. This allows us to raise investment capital and attract partners. Any returns beyond a set rate and limit will be reinvested back into CommonPlace Ministries.
"CommonPlace" refers to both "CommonPlace LP", and its parent organization "CommonPlace Ministries."
The mission of the Church is spiritual in nature, the proclamation of the gospel and the making of disciples. Community engagement must not distract from our primary mission, rather it must support it.
We've designed CommonPlace LP to empower our overall mission while allowing returns for investors.
CommonPlace is governed by the board of CommonPlace Ministries, composed primarily of church elders as well as community leaders and experienced professionals.
CommonPlace LP's primary fiduciary obligation is to advance the aims of the CommonPlace Ministries Charter, and the company is controlled by CommonPlace Ministries board. All investors and employees sign agreements confirming that the obligation to the Charter always takes precedence, even at the expense of their financial stake.
The CommonPlace board is committed to transparency, in part through comprehensive financial disclosure and detailed board meeting minutes.
Our board consists of a majority of qualified elders of churches in our community, with no more than one from each church. Only a minority of non-elder board members are allowed to hold financial stakes in CommonPlace LP at one time. Only board members without such stakes can vote on decisions where the interests of investors and the mission of CommonPlace Ministries may conflict.
Economic returns for investors and employees are capped. Any excess returns go to CommonPlace Ministries. Our goal is to ensure that most of the value we create, if successful, benefits our community through our mission.
