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Case Studies
Cornerstone Ministries Investments, Inc.
Cornerstone Ministries Investments, Inc. was organized as a nonprofit in
1985, to lend money for new church buildings. Its first public offering
was a Regulation A filing with the SEC in 1998. We began working with
CMI in 1999, with an offering registered with the SEC on Form SB-2 and
filed in several states. CMI has now completed six public offerings.
The early offerings were made with CMI officers and employees registered
in the selected states as “issuer agents.” At the federal level,
in-house participation was kept within the “safe harbor” standards of
Rule 3a4-1 under the Securities Exchange Act of 1934.
Securities broker-dealers were added as agents, on a “best efforts”
basis, where they had no commitment to sell any set amount of each
offering. In the later offerings, most of the sales have come through
the broker-dealer network.
By 2006, over 3,500 people owned more than $140 million in CMI bonds and
nearly 500 had become shareowners.
These direct offerings and broker-assisted sales have made it possible
for CMI to greatly expand its lending and investing. In addition to
churches, CMI now finances senior housing and community housing
projects. You can follow the registered offering history on
www.sec.gov and learn
more about CMI’s investments at
www.cmiatlanta.com.
CMI’s management and advisory services are provided by Cornerstone
Capital Advisors, a licensee of our electronic
toolkits for direct offerings. |
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