25 Bough Street

The 25 Bough Street will transform an abandoned building into a community source of empowerment for underserved youth, women and the community!

25 Bough Street addresses the following:

Lack of diverse spaces catering to city demographics: In a city and state which is brimming with culture, Providence, Rhode Island is substantially lacking diverse spaces. In Olneyville, most event facilities, and banquet halls have inflexible catering and little cultural fluency.

Gaps in statewide education including Providence, Rhode Island: When Johns Hopkins released a report about the state capital’s public schools this summer, each line was more damning than the last.... The report went so far as to say there was “little visible student learning” happening in classrooms at all. (John Hopkins, 2019)

Health & Wellness, Economics and Social: Life expectancy in central Providence neighborhoods is about 9 years less than that of residents from more socioeconomically advantaged neighborhoods of Providence. 50% of the factors that determine health have to do with economic and social conditions (State of Rhode Island, Department of Health, 2018)

Business & Employment: Central Providence has much higher unemployment rates than the city and state averages (State of Rhode Island, Department of Health, 2018)

Teach financial literacy, STEAM, health & wellness, career and self awareness to under served youth
Drive year-round programmatic initiatives for young girls and women empowerment overall.
Create an accelerator and incubator for innovators, entrepreneurs &freelancers of the future.
Provide a place for the celebration of culturally, diverse life events in a diverse city!
Introduce an XR Lab of mixed, virtual and augmented reality to the city and state.
Large, diverse and underrepresented market demand, hungry for the solutions that will be offered.
Campaign perk of naming rights on a plaque to be placed in the building with investments of $2k and more
We hope (but not guarantee) to yield an avg, annual net profit of $254k maturing to $885k annual net profit w/10 yrs

$50,001

The offering funds will be used to transform a currently blighted building into the multi-purpose, community-anchored facility described elsewhere in the materials provided bythe Company on the Company’s crowdfunding page and filedwith the Company’s Form C. If we raise our minimum target offering amount of $50,000.50, we will use the proceeds to immediately rent 30-40 ft. dumpsters and remove debris, secure the site, mitigate risk from falling debris and brick, and fortify fencing. Additionally, we will use some of the funds for architectural services and work as well as campaign promotion to extend the reach of the campaign (if needed).

$1,070,000

If the 25 Bough community development raise reaches the maximum target offeringamount, the plan is to use the remaining $1,019,999.20 as follows:

• Internal debris removal, building cleanup and external work, fencing maintenance and dumpster rentals: $50,000.
• 20Brick refacing and repainting (this will be to the external area of the building): $105,000
• Insulation, roofing, and caulking: $112,900
• Doors, frames, and hardware: $23,400
• Ceiling and ACT: $39,000
• Flooring: $46,900
• Painting: $24,200
• Fire Protection: $27,300
• Plumbing: $55,000
• HVAC: $199,400
• Electrical: $171,999
• Crowdfunding campaign fees and payments, forecasting maximum raise amount raised (7.5% to Wefunder): $80,250
• Tele/Data & AV: $19,500
• Overhead/Insurance: $29,513
• Permit: $13,637
• Payments for remaining services (marketing (monthly), architectural renderings and presentation): $22,000

Idrees Lanre Ajakaiye
Founder and Visionary, 25 Bough Street
MBA, Boston University A social entrepreneur devoted to positively impacting the lives of youth & the community with innovation. Lanre is a brand architect with over a decade of experience in real estate, Fortune 50, start-ups and non-profits.

Marcy Reyes
Advisor (Financial Literacy & Career)
Education: Master of Science (M.S.), Finance, General Adjunct Professor, Rhode Island College. Executive Director, Financial Literacy Youth Initiative (FLYi)

Shomari Husband
Advisor (Financial Literacy & Career Awareness)
Education: MBA, University of Rhode Island & CPA.

M. Quezada
Advisor & Consultant
Education: MBA, Honors. Babson F.W. Olin Graduate School of Business​

Henry Cruz Advisor & Consultant (STEM)
Education: Loyola Polytechnic Institute Mechanical Engineering / Amgen

Jason Chopoorian Advisor & Consultant
Education: Brown University

John Abbruzzee Advisor & Consultant
J.D. - Harvard Law School Ph.D. - Brown University

Jamie Frank
Advisor (Attorney)
Education: Boston University School of Law

Hilina Ajakaiye Advisor (Women Empowerment / Young Women's Circle
Education

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