Homeward Bound of Marin Shareholders Celebrate Nonprofit IPO

Shareholders in the first-ever nonprofit IPO, an “Immediate Public Opportunity … to end homelessness” with Homeward Bound of Marin, will join a chocolate-naming contest at the annual meeting on Jan. 27 in Novato.

As buyers of “fundraising shares” that helped open the Next Key Center in Hamilton in 2008, they’ve been invited to submit their names for a chocolate-wrapped caramel – the latest product made at the innovative job-training and housing facility.

The center’s 3,000-square-foot commercial kitchen is home to Fresh Starts Culinary Academy as well as social enterprise projects, including production of Halo Truffles from Callebaut Belgian chocolate.

The chocolate production and more will be outlined at the 2011 shareholder meeting from 5:30 to 7 p.m. Jan. 27. Emcee for the event will be a local IPO investor, Larry Goldfarb, who is chief executive of LRG Capital Group.

“In my 20 years of investing in companies, this is the most successful internal rate of return on investment that I have see in an IPO,” Goldfarb says. “Anybody who’s interested in becoming a shareholder should attend as this is a nonprofit that’s demonstrated an exemplary ability to help people in the community.”

Shareholders also will hear about programs such as:

* Fresh Starts Cooking School, a series of celebrity chef events featuring culinary luminaries like Michael Mina and Joanne Weir

* The “Transition to Wellness” program, a collaboration with local hospitals and social service providers to offer temporary accommodations to people leaving medical facilities without stable housing

* Fresh Starts Catering, one of several “social enterprise” projects that offer work experience to students while bringing in revenue to support Homeward Bound’s job-training and shelter programs for homeless adults

* The Key Room, where the meeting will be held, a 150-person event space for public rental that has hosted occasions ranging from anniversary parties to hiring fairs to fundraisers like school auctions.