INDEX

NUMBERS

  • 5 percent return, goal of, 18, 56–57, 70, 80, 88, 99–100
  • 401ks. See also Solo 401ks
    • and 403bs, 15, 96–97
    • and IRAs (Individual Retirement Accounts), 48, 96–97, 101–107
  • 529 Plan, 97
  • 2008, financial crisis, 45–46

A

  • accredited investors, 129–131
  • “accredited investors,” 48–50
  • “accumulation” vs. “distribution,” 140–141
  • AccuPlan Solo 401k provider, 105
  • Advanta, 128
  • affordable housing, 89
  • Agricole “farm stop,” 25
  • American dream, 4
  • American Express credit cards, 58
  • American IRA Solo 401k provider, 105
  • Americans, financial assets, 179
  • angel funds, 86
  • antitrust regulators, 45
  • apartheid South Africa, 4

B

  • B Corp, 5, 23
  • Bankrate.com, 54
  • banks. See also credit unions; local banks and credit unions
    • consolidation, 44–49
    • “too big to fail,” 180
  • Barbash, Angela, 123, 139, 144–145
  • Bellingham, Washington, 19–20
  • Bellwether Housing nonprofit, 81
  • Ben and Jerry, 79
  • Bennett, Sue, 112
  • Berkshire Bank, 91
  • Berry, Cathy, 60–61
  • bills
    • cutting, 68–73
    • paying with debit cards, 59
  • bonds
    • requirement, 84–85
    • and stocks, 42–43
  • Boston, Equal Exchange, 91. See also Massachusetts
  • Boston Impact Initiative Fund, 89
  • Boston Ujima Fund, 89
  • Broad Financial Solo 401k provider, 105
  • Bruce, Scotty, 26
  • Build It Green, 72
  • bulls and bears, 56–58
  • Business Roundtable, 4
  • businesses. See also publicly traded companies
    • decapitalization, 180–181
    • financing, 131–135
    • and investments, 3–4
    • legal structures, 23
    • sizes of, 23–24

C

  • C Corp, 23, 36, 160
  • California. See Oakland; San Francisco
  • Calvert and Pax World, 4
  • Calvert Foundation, 87–88
  • Canada
    • local investment, 183
    • profitability statistics, 36
  • capital marketplace, 43–44. See also marketplace maturity
  • Case-Shiller housing index, 55
  • cash reserves, 59
  • categorically prohibited investment, 159–160. See also investment strategies
  • CD (certificate of deposit), 91
  • CDCs (community development corporations), 87
  • CDFIs (community development financial institutions), 87–88, 123
  • Central Co-op, Seattle, 28, 74
  • CESAs (Coverdell Education Savings Accounts), 100
  • checkbook LLC, 108, 128
  • Chicago, Urban Juncture, 129. See also Illinois
  • churches, investing in, 82
  • city council, making requests of, 185–186
  • City Girls in Pontiac, Michigan, 26
  • Civic Economics, 28
  • civic institutions, 31
  • civic microbonds, 84
  • Clinton, Bill, 87
  • coffee, cost savings, 72
  • college debt, 61
  • college savings plan, 97, 100
  • Colorado
    • Poudre Valley Community Farms, 75
    • workplace DIY plan, 170–171
  • communities, prosperity and success, 27–28, 30–32
  • Community Investment Notes, 87–88
  • Community Vision Lending, 89
  • competitors, considering, 145
  • Confluence Philanthropy, 90
  • consultancy, setting up for Solo 401k, 110
  • Consumer Expenditure Survey, 68
  • “controlled group” rules, IRS (Internal Revenue Service), 111
  • Co-op Power, 75
  • Cooperative Fund of New England, 88
  • co-ops (consumer cooperatives), investing in, 73–75
  • “corporate social responsibility,” 4
  • corporations, “disqualified transactions,” 155
  • Cortese, Amy, 125
  • Coverdell education savings, 97
  • “creative class,” 32
  • credit cards
    • interest payments, 15, 18–19
    • interest rates, 58
    • paying off, 58–59
  • credit unions. See also banks; local banks and credit unions
    • exemption and banking laws, 46–47
    • and local banks, 90–91, 185
  • crime and public health, 32
  • crowdfunding
    • emergence of, 79–80
    • exemption from securities filings, 77
    • legalization, 5–7, 82–84
    • portals, 83, 125
    • real estate investment, 83
    • since 2016, 179
    • at state level, 187–188
  • Culver, Judith, 19
  • Cunningham, Matt, 28

D

  • dairy processing company, 20
  • debit cards, paying bills with, 59
  • decapitalization, 180–181
  • deferring taxes, 96–97
  • Desich, Richard, 190
  • diabetes, type 2, 32
  • Dimon, Jamie, 4
  • Discount Solo 401k provider, 105
  • Discover credit cards, 58
  • “disqualified” persons, “prohibited transactions,” 152–156
  • distributions, taking, 175–178
  • diversification, 41, 148
  • divorce attorneys, 14
  • DIY (Do-It-Yourself) Accounts
    • financing self-owned businesses, 131–135
    • formalizing investment decisions, 167–169
    • government forms, 172
    • and LLCs (limited liability companies), 131–135
    • overview, 96–101
    • “prohibited transactions,” 153–154
    • resources, 11
    • self-dealing, 156–157
    • vs. Solo 401k, 120
    • taking distributions, 175–178
    • terminology and perceptions, 8–9
    • UBITs (Unrelated Business Income Taxes), 173–175
    • UDFIs (Unrelated Debt-Financed Income), 173–175
  • Dodd-Frank Act, 45–46
  • donation sites, crowdfunding, 6
  • DPO (direct public offering), 75–76, 78–79
  • DQYDJ.com, 50
  • Dun & Broadstreet, 24

E

  • E. F. Schumacher Society, 91
  • East Bay Permanent Real Estate Cooperative, 89, 112
  • Economic Community Development Institute, 89
  • Economic Development Quarterly, 29
  • economic performance, 28, 30–31
  • economic-development funds, 186
  • economic-justice missions, 89
  • economy, equity, ecology (three Es), 4
  • education
    • investing in, 72
    • savings account, 100
  • electricity, annual payments, 68
  • Elkington, John, 4
  • employees and size of business, 23–24
  • energy efficiency, investing in, 70–73
  • entrepreneurs of color, 89. See also minorities or women
  • Entrust Group Solo 401k provider, 105
  • Equal Exchange, Boston, 91
  • Equity Trust, 37, 105
  • ERISA (Employment Retirement Income Security Act of 1974), 111
  • ESG (environmental, social, governance) concerns, 5
  • Exchange Act of 1934, 47
  • Exclusive Benefit Rule, 161
  • exercise machine, investing in, 72

F

  • factories, comparing, 33
  • “farm stop,” equity investment in, 25
  • FDIC-insured commercial banks, 45
  • Federal Reserve
    • in Atlanta, 29
    • investment statistics, 43
  • Federalism, 182
  • finance entrepreneurs, 189–190
  • financial assets, Americans, 179
  • financial crisis of 2008, 13–14, 45–46
  • financial needs, planning out, 140–141
  • financials, considering, 146
  • Financing Our Foodshed: Growing Local Food with Slow Money, 36
  • financing self-owned businesses, 131–135
  • “find your tribe,” 144–145
  • Florida, Richard, 32
  • food markets, 83, 89
  • Form 990-T, filing, 174
  • franchises, 22
  • free speech, legalizing, 188
  • Friedman, Milton, 3
  • fruits and vegetables, cost savings, 72
  • Fs (friends, family, fools), 76
  • Fundrise, 83
  • funds
    • scarcity of, 42
    • underperformance, 57

G

  • Ganaz app, 129
  • garbage pickup, annual payments, 68
  • gas, annual payments, 68
  • gasoline expenditures, cost savings, 72
  • Geller, Stephanie, 126
  • general obligation bonds, 84
  • geographic risk, 39
  • global businesses
    • “competitiveness,” 44
    • placing savings in, 2
  • Goldman Sachs, 85
  • government projects, investing in, 84–86
  • grassroots investors
    • crowdfunding, 82–83
    • local investment funds, 87
    • local investment marketplace, 41–42
    • in Nova Scotia, 183
    • as unaccredited investors, 130
  • Great Barrington Savings, 91
  • greenhouse, investing in, 72
  • grocery stores, 28
  • “growth” and “value” stocks, 148

H

  • Harvard Business Review, 28
  • heating and cooling costs, 71
  • hedge funds, 86, 147–148
  • Hesse, Arno, 125
  • home equity, 61–65
  • home-based businesses, 23
  • homeless people, 81
  • Honeycomb Credit, 17, 79–80
  • Houston, Dan, 28
  • HSAs (Health Savings Accounts), 97, 100–101

I

  • Illinois. See also Chicago
    • community investment fund, 89
    • Iroquois Valley Farmland REIT, 89
  • “impact investing,” 5
  • income brackets, 14
  • Indiegogo, 6
  • information, finding, 40
  • “in-service withdrawal,” 401ks, 103
  • institutionalizing, 181
  • insulation, energy efficiency, 71
  • insurance funds, 43
  • interest payments, credit cards, 15
  • interest-free lending, 6
  • Interstate Offering Exemption, 77
  • “intrastate offering,” 79
  • intuition, considering, 145
  • Investibule web site, 80, 125
  • investing “long” vs. “short,” 147
  • investment. See also local investment; risk and investment
    • shifting to local businesses, 44
    • worldwide, 4–5
  • Investment Advisers Act of 1940, 47
  • investment club, forming, 127
  • Investment Company Act of 1940, 47
  • investment crowdfunding
    • emergence of, 79–80
    • exemption from securities filings, 77
    • legalization, 5–7, 82–84
    • portals, 83, 125
    • real estate investment, 83
    • since 2016, 179
    • at state level, 187–188
  • investment statistics, 43
  • investment strategies. See also categorically prohibited investment
    • co-ops, 73–75
    • cutting daily bills, 68–73
    • home equity, 61–65
    • kids’ credit cards, 60–61
    • local banks and credit unions, 90–91
    • local businesses, 75–80
    • local government projects, 84–86
    • local investment funds, 86–89
    • local real estate, 82–84
    • nonprofits and places of worship, 81–82
    • paying down mortgage, 65–68
    • paying off credit cards, 58–59
  • Investopedia, 54
  • IP (intellectual property), considering, 145
  • IPO (initial public offering), 86
  • IRA Financial Group Solo 401k provider, 105
  • IRAs (Individual Retirement Accounts)
    • and 401ks, 101–107
    • 401ks and 403bs, 15, 48
    • tax-deferred savings, 96–97
  • Iroquois Valley Farmland REIT, 89
  • Irrational Exuberance, 55
  • IRS (Internal Revenue Service)
    • accredited investors, 49–50
    • approval for Solo 401k, 114
    • “controlled group” rules, 111
    • “prototype” agreement, 17–18
    • sole proprietorships, 36
    • tax-deferred funds, 14–15
  • issuing securities, 181

J

  • Jennings, Christina, 99
  • jobs, 28–30
  • JOBS (Jumpstart Our Business Startups) Act, 5, 7, 79, 82, 182
  • JPMorgan Chase, 4

K

  • Kerr, Camille, 98
  • Kickstarter, 6
  • kids’ credit cards, managing, 60–61
  • Kiva crowdfunding, 6
  • kombucha company, 25

L

  • L3C company, 25
  • land investing, 82
  • Larson, Gary, 13
  • laws and regulations, taxes, 11
  • lending
    • interest-free, 6
    • peer-to-peer, 7
  • LendingClub, 7
  • life insurance contracts, 160
  • life savings, 15, 191
  • LIFT Economy, 9
  • light fixtures, energy efficiency, 71
  • LION (Local Investing Opportunities Network), 125–126
  • “liquid” investment, 42–43
  • liquidity and risk, 138–143, 146–147
  • LLC (limited liability company)
    • co-ownership by spouses, 107
    • “disqualified” persons, 155–156
    • financing self-owned businesses, 131–135
    • investment clubs, 127
    • setting up, 128
    • Solo 401k, 110, 114
  • loans, considering, 146
  • “local,” defined, 21–24
  • local banks and credit unions, 90–91, 185. See also banks; credit unions
  • local businesses
    • competition, 180
    • defined, 22
    • investing in, 75–80
    • Michigan, 25–27
    • versus nonlocal businesses, 28
    • number of, 23
    • percentage of US economy, 24
    • profitability, 35–41
    • risk, 38–41
  • local government projects, investing in, 84–86
  • local investment. See also investment; risk and investment
    • Bellingham, Washington, 19–20
    • business support sector, 124
    • considering goals, 138–143
    • crowdfunding sites, 125
    • disfavor of financial institutions, 44–49
    • ecosystem, 181–182
    • evaluating opportunities, 144–147
    • evangelizing for, 122
    • examples, 16–19
    • family’s needs, 121–122
    • finding, 120–127
    • finding allies, 122–123
    • funds, 86–89
    • institutionalizing, 181
    • issuing, 181
    • local government, 124
    • making public list, 126–127, 185
    • marketplace, 41–43
    • options, 92
    • pooling, 181
    • portfolio creation, 147–149
    • private sector, 124
    • rate of return, 57
    • red flags, 39
    • reselling, 181
    • in self, 120–121
    • since 2016, 179
  • local land trust, 185–186
  • local synergies, 40–41
  • “Locally Owned” businesses, 2
  • low-income neighborhoods, 87
  • low-profit, limited liability company, 25
  • Lyson, Thomas, 31

M

  • Main Street America, 32
  • management, considering, 145
  • marital assets, redistribution, 14
  • marketplace maturity, 37–38. See also capital marketplace
  • Maryland, stormwater management, 85
  • Maryland Neighborhood Exchange, 126–127
  • Massachusetts. See also Boston
    • community investment fund, 89
    • Co-op Power, 75
    • PVGrows Investment Fund, 88–89
  • Mastercard, 58
  • McKinsey & Company, 71
  • Michigan
    • local businesses, 25–27
    • Revalue, 123
  • Michigan Farm Market, 26
  • Milk Money, 80
  • Miller, Ben and Dan, 83
  • Mills, C. Wright, 31
  • minimum tax, 14. See also taxes
  • Minnesota
    • community investment fund, 89
    • NorthEast Investment Cooperative, 75, 89
    • Union Bank & Trust, 99
  • minorities or women, businesses led by, 87. See also entrepreneurs of color
  • Money Magazine, 55
  • mortgages
    • investing in, 64
    • paying down, 65–68
  • Mountain BizWorks, 89
  • Move Your Money campaign, 2, 46
  • Muha, Cathy, 25
  • “multiplier effect,” 22, 27–28
  • municipal bonds, 87, 185
  • mutual funds, 43, 181–182
  • My Solo 401k Financial, 105
  • Mycoterra Farm, 88

N

  • National Center for Employee Ownership, 98
  • National Reality Investment Advisors, 55
  • Navigator Business & Retirement Services Solo 401k provider, 105
  • Neighborly, civic microbonds, 84
  • New Brunswick, tax credits, 185
  • New Hampshire Community Loan Fund, 89
  • New Standard IRA, 19–20
  • New York City Real Estate Investment Cooperative, 89
  • New York Stock Exchange, 47
  • The Next Egg resources, 9, 11, 99–100, 104–106, 112, 191
  • “no action letter,” 182, 186
  • nonprofits
    • “local,” 23
    • and places of worship, 81–82
  • North Carolina
    • community investment fund, 89
    • local investors, 36–37
    • Mountain BizWorks, 89
    • Weaver Street Market, 74
  • NorthEast Investment Cooperative, 75, 89
  • Northeast Kingdom Prosperity Fund, 89
  • Nova Scotia, local investment, 183

O

  • Oakland
    • Build It Green, 72
    • community investment funds, 89
    • Runway Project, 89
    • SELC (Sustainable Economies Law Center), 112
  • Obama, Barack, 5
  • obesity and type 2 diabetes, 32
  • “Occupy Wall Street,” 44
  • Ohio
    • drugstore success story, 190
    • Economic Community Development Institute, 89
  • Oldanie, Laura, 128
  • organic farms, 89
  • ownership of business, caring about, 27–33

P

  • partnerships, “disqualified transactions,” 155
  • “Patient Capital Investors,” 88
  • Pax World and Calvert, 4
  • paybacks, considering, 69–73
  • peer-to-peer lending, 7
  • PENSCO Trust, 16
  • pension funds, 43, 186
  • Peppe Hewitt, Carol, 36–37
  • Phoenix and Tucson, 90
  • “placemaking,” 32
  • places of worship, investing in, 81–82
  • Plan Asset Rule, 161–162
  • policymakers, making requests of, 185–186, 189
  • politics and voting, 31
  • pools of capital, 86, 181
  • portfolio, putting together, 147–149
  • Poudre Valley Community Farms, 75
  • Praxis Mutual Funds, 87
  • profit, people, planet (three Ps), 4
  • profitability, 35–41
  • “prohibited transactions”
    • categorically prohibited investment, 159–160
    • “disqualified” persons, 152–156
    • LLCs (limited liability companies), 132
    • penalties for violation, 163–164
    • rules, 151–152, 160–162
    • self-dealing, 156–159
  • Project for Public Spaces, 32
  • projections, considering, 146
  • Prosper, 7
  • “prototype” agreement, IRS (Internal Revenue Service), 17–18
  • public employee pension funds, 186
  • public health and crime, 32
  • public list, making, 126–127
  • publicly traded companies, 23. See also businesses
  • Putnam, Robert, 31
  • PVGrows Investment Fund, 88–89

Q

  • QPS Solo 401k provider, 105
  • quality of life, improving, 27, 32
  • Quimper Mercantile, 75–78
  • Quinn, Peter, 77–78

R

  • rabbit farm example, 36–37
  • Ramsey, Dave, 55
  • real estate, investing in, 82–84
  • red flags, 39
  • Regulation A, 77, 144
  • Regulation D, 76–77
  • regulations and laws, taxes, 11
  • REITs (real estate investment trusts), 82
  • renewable resources, 33
  • retirement funds, 2
  • retirement savings accounts, 14–15
  • Revalue Investing, 26–27, 123
  • revenue bonds, 84
  • Revzon Solo 401k provider, 105
  • RIA (registered investment advisor), 137, 139
  • risk and investment, 10–11, 35–41. See also investment; local investment
  • risk and liquidity, 138–143, 146–147
  • RMDs (required minimum distributions), 102, 175–176
  • Rocket Dollar Solo 401k provider, 105
  • Rollins v. Commissioner, 157–158
  • Roth IRA, 97, 164, 176
  • Royal, James, 54
  • RSF Social Finance, 88
  • Runway Project, 89

S

  • S Corp, 23, 160
  • San Francisco, community investment fund, 89
  • Sandoval, Michelle, 75
  • savings accounts, 15
  • savings and loans, 45
  • Schedule C reporting, 110
  • Scrap Connection, 129
  • Seattle. See also Washington state
    • Bellwether Housing nonprofit, 81–82
    • Central Co-op, 28, 74
  • Seattle Business, 75
  • SEC (Securities and Exchange Commission), 46, 182
  • securities
    • definition, 46
    • issuing, 181
  • Securities Act of 1933, 47–48
  • securities filings, exemptions, 76–77
  • securities laws of 1930s, 3, 188
  • SELC (Sustainable Economies Law Center), 112
  • Self Directed IRA Handbook, 160–161
  • self-dealing, “prohibited transactions,” 132, 156–159
  • Self-Directed IRA
    • government forms, 172
    • and LLCs (limited liability companies), 132
    • Michigan examples, 25–27
    • North Carolina example, 36–37
    • opening, 103–106, 128
    • “prohibited transactions,” 154
    • real estate and leveraged debt, 175
    • setting up, 98–99
    • and Solo 401ks, 8–9, 11, 16–19, 108
    • spread of, 184–185
    • taking distributions, 175
  • Self-Directed IRAs: Building Retirement Wealth through Alternative Investing, 190
  • self-employed retirement savings accounts, 14–15
  • Self-Help Federal Credit Union, 113
  • self-owned businesses, financing, 131–135
  • Sense Financial Solo 401k provider, 105, 112
  • SEP (Simplified Employee Pension) IRA, 97, 100
  • sewage, annual payments, 68
  • Shared Capital Cooperative, 88, 99
  • Shiller, Robert J., 55, 66
  • SIMPLE (Savings Incentive Match Plan for Employees) IRA, 97, 100
  • Slow Money, 122–123, 125, 128, 139
  • small businesses, 23–24, 31, 89
  • Small Change, 83
  • social impact bonds, 85
  • social performance, considering, 146
  • social return, enjoying, 27, 40
  • socially responsible investment funds, 4–5
  • solar energy projects, 84–85
  • sole proprietors, 23, 36
  • Solo 401ks. See also 401ks
    • checklist for prototype, 115
    • vs. DIY (Do-It-Yourself) Accounts, 120
    • explained, 14–15
    • government forms, 172
    • “prohibited transactions,” 153
    • qualifying for, 109–112
    • and Self-Directed IRA, 8–9, 11, 16–19, 104, 108
    • setting up, 113–116
    • spread of, 184–185
    • test pilot in California, 112–113
  • Sorensen, Matt, 160–161
  • South Africa, apartheid, 4
  • SPD (summary plan description), Solo 401k, 114
  • Standard & Poor’s index, 55–56
  • startups, 38
  • state legislators, making requests of, 186–188
  • Step Transaction Doctrine, 161
  • stock exchanges, 183
  • stock market
    • inflated claims, 54–55
    • likely return on, 54–58
    • performance of, 53–58
  • stocks
    • and bonds, 42–43, 146
    • picking, 47
    • “value” and “growth,” 148
  • stormwater management projects, 84–85
  • strategies. See investment strategies
  • StreetShares, 128–129
  • student debt, 61
  • sustainability, 32–33
  • Sustainable Economies Law Center, 9

T

  • Tasch, Woody, 123
  • tax brackets, 14
  • tax credits, 185
  • tax-deferred funds, 14–15
  • taxes. See also minimum tax; UBITs (Unrelated Business Income Taxes); UDFIs (Unrelated Debt-Financed Income)
    • deductions for home ownership, 62
    • deferring, 96–97
    • laws and regulations, 11
  • TD Ameritrade, 16
  • Tea Party Republicans, 7
  • “Team Jefferson,” 77
  • TerraCycle, 129
  • thermostat, energy efficiency, 71
  • three Es (economy, equity, ecology), 4
  • three Ps (profit, people, planet), 4
  • “thrifts,” 45
  • toilets, water-efficiency, 71
  • “too big to fail” banks, 180
  • tourists, 32
  • “triple bottom line,” 4
  • trusts, “disqualified transactions,” 155
  • TSP (Thrift Savings Plan), 18, 97
  • Tucson and Phoenix, 90
  • type 2 diabetes and obesity, 32

U

  • UBITs (Unrelated Business Income Taxes), 173–175. See also taxes
  • UDFIs (Unrelated Debt-Financed Income), 173–175. See also taxes
  • Ulmer, Melville, 31
  • “unaccredited” investors, 48–49, 87–89, 130–131
  • unincorporated business entities, “disqualified transactions,” 155
  • Union Bank & Trust, Minnesota, 99
  • Unity Vibration, 25
  • Upjohn Institute for Employment Research, 30
  • Urban Juncture, 129
  • US citizens, financial assets, 179
  • utilities, annual payments, 68

V

  • “value” and “growth” stocks, 148
  • vegetables and fruits, cost savings, 72
  • venture funds, 86
  • Vermont
    • community investment fund, 89
    • Northeast Kingdom Prosperity Fund, 89
  • veterans, loans available to, 128–129
  • Visa credit cards, 58
  • voting and politics, 31

W

  • wages, 29
  • Washington state. See also Seattle
    • local milk, 19–20
    • Quimper Mercantile, 75–80
  • “wasting assets,” 68–70
  • Weaver Street Market, 74
  • Wefunder crowdfunding platform, 7, 79–81, 129
  • Wells Fargo, breaking up with, 98–99
  • Wiener, Jason, 186
  • women or minorities, businesses led by, 87. See also entrepreneurs of color
  • worker co-ops, 98
  • workforce, considering, 145
  • worldwide investment, 4–5
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