Bonds Sold to Date
We will finance this purchase with $1.4 million in community impact bonds.
The Investment
Series A
The Giving Bond
$10,000 minimum
5-year term
4% per annum.
Interest donated back to SKETCH
Series B
$50,000 minimum
7-year term
4.5% per annum.
Series C
$50,000 minimum
5-year term
4% per annum.
Series D
$1,000 minimum
3-year term
3% per annum.
FAQ
What is a Community Bond?
A community bond is an interest bearing loan that a non-profit or charity can issue to their support network. Essentially, you buy a bond, you earn a set interest rate each year which we pay you the following January we develop our space, and we repay your entire bond at the end of its term.
Who else has used community bonds before?
Many other social enterprises and charities across Canada have used community financing and community bonds successfully. Tapestry Community Capital have supported raising over 60 million dollars in 14 different issuer campaigns.
Other not-for-profit or co-operative organizations such as the Centre for Social Innovation, SolarShare, ArtScape, YWCA Toronto, and Innovation Works have used community bonds.
How does Series A: The Giving Bond work?
The investor purchases a Series A Giving Bond from SKETCH. The Bond accrues interest for the period Jan 01 – Dec 31 each year for 5 years from the issue date, at a rate of 4%.
Each December 01, SKETCH confirms by email with the investor that they would like to donate the interest earned from the bond for that year back to the charity. Investors may also choose, at this time, to top-up the donation amount to their interest earned.
The interest is paid back to SKETCH automatically, the investor receives a Charitable Donation Tax Receipt from SKETCH for the amount of interest earned and donated.
In February of the following year, the investor receives a T5 Statement of Investment Income for the interest earned amount, also issued by SKETCH.
What if I have an emergency and need the money before the term is up?
Bondholders may request a repayment of bond principal, subject to the availability of funds within SKETCH and at the discretion of the SKETCH. The Board will use its best efforts to match buyers and sellers.
Can I hold this in my RRSP/TFSA?
SKETCH Bonds are issued by SKETCH through a Not-For-Profit exemption from the Ontario Securities Commission. These bonds are not typically RRSP and/or TFSA-eligible. Please speak to your financial advisor for options.
When does the bond purchase time period close?
The bond campaign closes on June 30, 2020 or when we reach our investment goal of $1.4 million.
How do I invest?
The first step is signing up to receive the campaign documents. Sign up below.
Sign up here to download the investor package
More questions? Please get in touch with us at invest@sketch.ca.
SKETCH Campaign Team
Tony Chapman
Campaign Champion / Spokesperson
Charlene Quincey
Chair / Spokesperson
Rudy Ruttimann
Executive Director / Spokesperson
rudy@sketch.ca
Michael Sacke
Impact Investment Lead
Jonsaba Jabbi
Communications
Emma Bowen
Project Administrator
Dale Roy
Project Manager / Marketing
Luigi Umali
Financial Associate
Hayley Hoskins
Giving Bond Representative
Sven Dedic
Board Director / Treasurer
Ana Yuritsy
Vice-Chair
Celia Smith
Advisor
David Walsh
Advisor
Our Partners
Tapestry Community Capital
Tapestry Community Capital supports non-profits in raising and managing community bonds. Since 1998, the Tapestry team has supported projects from renewable energy to co-working, in successful community financing campaigns, raising and managing $62+ million from over 3,900 investors.
Tapestry Community Capital
Tapestry Community Capital supports non-profits in raising and managing community bonds. Since 1998, the Tapestry team has supported projects from renewable energy to co-working, in successful community financing campaigns, raising and managing $62+ million from over 3,900 investors.
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Have a question? Don’t hesitate to reach out to us at invest@sketch.ca. A member of our Campaign team will be in touch!