“Clothes make a statement. Costumes tell a story.”
In supporting Le Grand Costumier, you are helping save a big piece of our collective history, a rich heritage and countless memories. You will be encouraging a project embraced by the public and the cultural sector, and assisting an economically and socially viable social enterprise representing Quebec’s incredible creativity.
INVEST IN COMMUNITY BONDS
Le Grand Costumier is launching a community bonds campaign as part of the pilot project led by TIESS (Territoires innovants en économie sociale et solidaire).
What is a community bond?
A bond is a well-known investment tool that governments regularly use as a funding vehicle. The bonds non-profit organizations can issue are similar to traditional bonds. They have an issue price, a maturity date and a taxable coupon (interest rate) paid to bond holders. Community bonds can be secured or unsecured and callable or non-callable, transferable or non-transferable and renewable or non-renewable at maturity.
Exempt from producing a prospectus, non-profit organizations can issue bonds as an innovative funding vehicle, enabling them to diversify their sources of revenue and set down solid roots in the community.
How your investment helps
The money that you invest will be used to restore and extend the useful life of some of the costumes in the collection. A symbol of Quebec’s immense creativity, Le Grand Costumier’s collection of 90,000 costumes and accessories is a remarkable showcase of the costume arts. This superior quality collection requires regular upkeep and since Le Grand Costumier has a fully equipped costume workshop, we will be able to do the work onsite, using the money to hire the best artisans.
How does it work?
From October 1 to November 30, 2016, you can purchase community bonds from Le Grand Costumier under the following terms and conditions:
Type of security: Unsecured bonds
Project funded: Restoration of the collection’s costumes
Bond face value: $1,000
Number of bonds issued: 20
Total amount needed: $20,000
Maturity: Five years (transferable after three years, non-callable)
Interest rate: 2% compounded annually, interest paid at maturity
Purchase period: October 1 to November 30, 2016
Bond issuance: December 1, 2016
What are the risks?
The community bonds issued by Le Grand Costumier are transferable after three years, but are not callable, meaning that they are less liquid than other types of investments. The bonds are reimbursable at maturity, as long as the reimbursement does not weaken the organization’s financial stability. Further, the bonds are not secured, which means that in the event the organization dissolves, the bonds will be among the last debts to be paid. To manage this risk, Le Grand Costumier will purchase contingency funds from the Caisse d’économie solidaire Desjardins (guaranteed term deposits) aiming to gather a minimum of 35% of the total amount of the bonds within five years.
Interested in investing in community bonds?
- Contact us to receive a guide with more information on the project:
firstname.lastname@example.org - 514-529-8341
Donate your time
Community members will always be welcome at Le Grand Costumier. Those who wish to donate their skills and knowledge are invited to contact us at email@example.com.
Moving 90,000 costumes and accessories was a huge undertaking and would not have been possible without the help of 50 volunteers who spent more than 700 hours over eight weeks, sorting and packing 2,700 linear feet of costumes and more than 2,000 boxes of accessories.
Donate costumes and accessories
Le Grand Costumier offers attractive incentives to producers who wish to add to the collection once their productions are finished. Producers will gain access to the costume workshop at a preferential rate and receive significant discounts on future rentals. Additional benefits are also possible. Contact Marie Houde(firstname.lastname@example.org) for more information.
Individuals who wish to donate costumes in good condition are invited to contact us at email@example.com.