What type of organization is Hanns & Erving?
Hanns & Erving is a collective.
What is a Collective?
A collective is a mutually beneficial member owned enterprise.
Who owns the Hanns & Erving organization?
Any person who contributes time or money towards the restoration of blighted properties becomes a shareholder of Hanns & Erving.
What is a shareholder?
A shareholder is an individual or institution that legally owns a part of a company in the form of a share.
What is a share?
A share is a unit of value used to express the ownership relationship between an organization and the shareholder.
How does Hanns & Erving make money?
Hanns & Erving generates money from property sales and rental income.
How will Hanns & Erving compensate its shareholders?
Anyone who contributes time toward restoring properties (e.g., painting or architectural consulting) will be paid dividends (profits) relative to the number of shares that they own.
How often will I receive dividend income from Hanns & Erving and for how long?
Members of Hanns & Erving receive dividend income bi-annually for as long as they meet our minimum membership requirements.
What is a dividend?
A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits in cash.
How long do I need to be a member of Hanns & Erving to earn dividends?
An initial contribution of 180 hours and a minimum of 60 hours annually (average of 5 hours per month) must be contributed to earn shares in Hanns & Erving and receive a dividend.
What skills do I need to contribute to Hanns & Erving?
No skills are required to contribute to Hanns & Erving; however, the more experience you have with renovating properties the better. If you have minimal or no experience renovating properties, you must be willing and available to learn new skills.
Who purchases Hanns & Erving properties and materials?
All expenses needed to restore the properties are covered by the company.
What type of properties does Hanns & Erving buy and restore?
Hanns & Erving buys and restores single family homes, multi-family homes and commercial properties.
Does Hanns & Erving sell or rent properties?
Hanns & Erving rents and sales properties.
What other organizations or companies does Hanns & Erving work with to restore properties?
Hanns & Erving partners with any organization, group, or company who is committed to reducing the number of blighted properties in underserved neighborhoods and also with those invested in increasing access to affordable housing.
Where do Hanns & Erving investors live?
Most Hanns & Erving investors live in the same neighborhoods as the properties being restored. Some others live in the surrounding neighborhoods.
How is the value of my time calculated?
Time is calculated based on the task and the experience level of the individual.
How will Hanns & Erving ensure my safety while on the property site?
Hanns & Erving mandates Occupational Safety and Health Administration (OSHA) training to all of our investors and actively promotes safety as our highest priority. Each site is also fully monitored by an on-site audio and visual security system.