Why a cooperative and a public call for savings, rather than a call for donations or crowdfunding?
Several avenues were available for financing such an operation: call for donations, crowdfunding, bond issue, sponsorship, etc.
We preferred the public appeal for savings because of the symbolic values of a cooperative organisation, its egalitarian and collective dimension. The cooperative, unlike donations and crowdfunding, maintains a link with the people who contribute to it. Beyond the act of financial support, they cooperate in the management of the building which houses the cinema, and in a certain way, extend the community which already exists around the Nova Cinema. Shares, unlike bonds, do not give right to interest. Finally, cooperatives play a historic role in wresting property from the dynamics of private property and speculative real estate.
Of course, in no way the cooperative prevents those who would prefer to make a donation to Supernova Coop from favouring this type of contribution.
Why a cooperative society as a social enterprise?
When it was created in 2017, Supernova Coop chose to be a cooperative with a social purpose, which anchored it in the field of the social economy. This status was unfortunately removed by the new Companies Code, which required the adaptation of the statutes of Supernova Coop. Following this adaptation made in 2023, Supernova Coop is approved by the Federal Public Service in Economy (SPF) as a social enterprise and as a cooperative company. Supernova Coop also received the Solidarity Finance Label granted by the non-profit Financité. This label certifies the funding of activities generating social and/or environmental utility and guarantees that the person investing receives transparent and complete information on the financial product.
Shouldn’t we abolish private property instead?
No doubt, but let’s start by preserving a place where we can discuss it!