innovative social enterprise.
Fogo Island Inn is a social business and a community asset operated by a business trust whose beneficiary is the Shorefast Foundation. Shorefast is a registered Canadian charity with the mandate to promote cultural and economic resiliency for Fogo Island. The Inn is a 100% social business: all operating surpluses are reinvested in the community of Fogo Island through the projects and programs of Shorefast Foundation. The Inn was built using primarily private philanthropic funds with the addition of some government grants, and there are no financial contributors seeking a return on their investment. The success of the Inn benefits no individuals, but rather the larger community of Fogo Island.
In this way, Shorefast Foundation strives to use business-mind ways to achieve social ends. This “not-just-for-profit” approach to business is a model for a more positive and productive relationship between capital and community. Money spent at Fogo Island Inn directly contributes the well-being of one of Canada’s oldest European settled communities, and is an investment in a different way of thinking.
Learn more here: Shorefast Foundation