Respite, sharing the caring, motivated by love.

- Franca Sparapani

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Community Bonds

With our new Not For Profit status, we are always looking for new and creative ways to raise funds to provide the best care possible. 

Community Bonds are a way for us to achieve our goals while involving the community in providing  important and worthwhile services.  

What is a Community Bond?

It is a way for a Not-For-Profit Organization to raise funds by asking it's community, customers, members and partners to lend them (in this case, us at SRM) money for a pre-determined amount of time; based on an analyses done on the needs of the organization. The money will be used to help satisfy those needs.

When a sum is lent, the organization will issue a certificate to the lender. During the period of time that the money is lent, the organization will fulfill the obligations of the funding (by meeting the pre-determined needs). The money from the bond will be returned once the duration of the term has passed.

Bondholders become partners of Seniors Respite Montérégie.

The success of the Community Bonds initiative allows the community to be involved in the achievements and goals of our organization while contributing to it's influence. 


How do I get involved with the Community Bonds?

Bonds will be available for purchase at 1,000$/ bond, during the month of August 2019. 

The term will be one year from September 1, 2019 to August 31, 2020. 


Please scroll down for specifics on the bonds and for an application form, we look forward to working with you!

Specifics

Summary of the Bond Issue Terms:

  • NPO, Seniors Respite Montérégie, a business undergoing a change in legal definition
  • Purpose of the offering: to offer the supportive community an opportunity to invest in Senior Respite Montérégie
  • Amount covered by the issue: $ 20,000 (100% of the financing package the risk management project)
  • Duration of sale: 1 month (August 2019)
  • Term: 1 year (Issue date September 1 2019, Maturity date August 31 2020)
  • Face value: $ 1,000
  • Maximum value per subscriber: 100 % of the total amount issued
  • Interest rate: 2% (annual interest and paid at maturity)
  • Terms: non-redeemable before term, non-transferable.
  • These community bonds are not guaranteed. In the event of business failure, they will rank last for repayment.
  • Interest is taxable, T-5 / R-16 will be issued for interest earned on the bond
  • Risk management: constitution of a cautionary fund

Apply for a Bond