Hello dearest Friends of Aletheia,
We are very proud to update you all with the latest status of our fundraising & refinancing efforts here with our Aletheia Springs project!
As some of you may remember, our original 2017 goal was to raise $400k by the end of June. While we started off strong in the early part of the year raising $50k by April, we fell short of meeting this high June goal. Incredibly, the Morton’s service business went gangbusters this year! Exceeding all our expectations, Morton’s was able to offer an additional $69k itself. We then also welcomed one new Community Member Investor to our community in late summer, and received an additional investment share from one more existing investor which bumped us up to a total of $169k raised.
Progress! But we still had a long way to go...
Luckily, we were blessed to be able to renegotiate one of our original mortgage loans and extend our fundraising goal until the end of the year to reach the final $231k we needed (the largest chunk of which will pay off this original short-term “bridge” loan in full, plus all interest).
The lesson we’re taking to heart from this year is that summertime, in general, is not a great time for fundraising. We also had on our hands the running of a 6-day a week service business, which really ended up being a 7-day/week all-hands-on-deck gig.
We’ve learned, however, that autumn can be a wonderful time for fundraising!
Once we were able to land back home and clean up after October’s devastating fires we hit the ground running and were elated to see an uptick in new interest and funding support opening up for Aletheia! In the last month and a half I am happy to say that we’ve welcomed two brand new Community Member Investors, as well as happily received an additional investment share from one more existing investor!
This wonderful influx of support has now brought us up to a total of $244k, with only $156k left to go as of this writing! Waaahooo!!! With this we feel our 2017 goal is now firmly in sight. We are also feeling humbled and powerfully supported to continue our work here revitalizing these geothermal springs and sharing them with all of you as well as our extended Sonoma County, Bay Area and Northern California community!
The very last $156k to raise for 2017 will complete our final payment to our original bridge lender, cover critical off-season expenses, and give us the necessary funds to begin work on building out the very first elements of our self-care sanctuary before the 2018 season begins in May. Our priorities for this work includes adding the first hot tubs and cold plunges as well as pumping the new hot water source into our showers! If funds allow, it may also include building out our first sauna -- ooh la la!
Can you or anyone you know help us cross the finish line this December? We're accepting any and all donations large and small, as well as new Community Member Investor loans of $25k or greater.
Follow along with our latest fundraising efforts and check out more detail on our current support needs for each project here: www.AletheiaSprings.com/fuel