Warner Norcross + Judd LLP represented United Church of Christ Cornerstone Fund, Inc. (“Cornerstone Fund”) in the offering of up to $100 million of term notes, flexible demand notes and giving bonus notes for the 2023-2024 offering period.
Cornerstone Fund is a nonprofit church extension fund that helps local ministries create change within their communities. It will use capital raised in the offering of notes primarily to make loans to faith-based organizations to finance their capital improvement and other property-related projects, including church buildings and other structures.
According to Maria Coyne, president and chief executive officer of Cornerstone Fund: “We relied on Warner as our trusted counsel for their sound judgment and depth of expertise in impact investment offerings. We know we can count on proactive communication from Warner Associate John Muhs and his team throughout the process. All of us at Cornerstone Fund have come to view our Warner colleagues as integral, collaborative members of our team.”
This national securities offering was made pursuant to federal exemptions from securities registration available for charitable organizations and pursuant to registration or exemption of the securities in each of the applicable states.
The Warner transactional team was led by John Muhs and included Tim Horner, Dana Dawe, Sherri VanEck and Alex Rey.
Warner’s Impact Investing Group
As one of the largest and most successful impact investing groups in the country, we have developed unparalleled expertise over our more than 30 years representing nonprofit organizations in securities offerings that range from limited private placements to international public offerings of debt securities. Our impact investment team consists of accomplished attorneys, experienced paralegals and seasoned compliance experts who advise nonprofit clients as to federal and state securities registration and exemption requirements, underwriting arrangements, placement agent engagements, broker-dealer and agent registration issues, and marketing and advertising impact investment offerings in compliance with state and federal securities laws. We take pride in helping our clients fully utilize the unique securities law exemptions available for charitable organizations while complying with the complex securities law requirements in all 50 states, Washington D.C. and the U.S. territories. We know that, with our help, our clients are well positioned to raise the capital they seek to serve the greater good.
