Our investment club was created on 7/10/17 by Steve Roy of ROYCORP Inc. and Michael Evans of Help Keep My Money LLC. We have been meeting for months and finally pulled the trigger. We will post information about the investment club here (at HelpKeepMyMoney.com/BlackPeopleInvest) until we have the time (and resources) to build and maintain the club’s website at www.BlackPeopleInvest.online.
Here’s a quick overview of how the investment club works:
- You must make an initial contribution of $125 to become a member of the LLC.
- $25 goes into the Capital Account of the existing member who referred the new member. If there isn’t a referring member, then the $25 goes into the general operating account of the investment club.
- $100 establishes the Capital Account for the new member. If the contribution is made on or before the 7th of the month, then the new member is active is of that month. If the contribution is made after the 7th of the month, then the new member is active as of the 1st of the following month.
- You must make a monthly contribution of at least $100 on or before the 7th of each month and have attended at least one of the weekly membership meetings in the prior month to remain an active member (ability to vote).
- You own part of the investment club based on your percentage of the total contributions and returns from the club’s investments.
- A majority vote (based on percentage of ownership) is required to take any action.
- The investment club meets online every Sunday at 6:00 p.m. PDST (9:00 p.m. EDST) for about 1 hour.
- The first 30 minutes are spent covering club business and investment education.
- the last 30 minutes are spent discussing investment opportunities.
- Anyone can attend the weekly membership meetings, but only active members can vote.
- Only active members can present investment opportunities, unless you are invited to do such by an active member.
- Regardless of whether the investment club votes to take a position in an investment opportunity, individual investment club members can always invest separately from the investment club.
- Each quarter we will provide financial statements on how the investment club has done (Balance Sheet, Profit and Loss and Cash Flow), as well as provide each member with the status of their Capital Account (cash in, cash out, profits, losses and your equity in the investment club investment positions).
You can view the following documents:
- Original Operating Agreement for the Black People Invest LLC Investment Club.
- Articles of Organization for the Black People Invest LLC Investment Club.
Ready to Invest?
Send your initial $125 contribution via PayPal to Help Keep My Money LLC (we will use Michael’s business account until the investment club sets up its own bank account):
You can also make your contribution over the phone (831-760-6711) with Michael Evans (Treasurer), who will take your information and charge your card that way. Once we receive your payment, we will acknowledge you being added as a member at the next Sunday membership meeting, and the effect it has on the Members’ Interest Units.
Not ready yet?
No problem. Join our investment club’s email list to keep informed of what we’re doing.