Cooperative Economic Stimulus

By Jennifer Kennelly, Director of Finance

Patronage Refund checks for the fiscal year ending June 30, 2012 will be issued on November 9, 2012. We are pleased to announce that the Co-op made a net profit before taxes and patronage of 6.74%. Member purchases totaled almost 58% of total sales and the Co-op declared a Patronage Dividend of $1,287,056. The Board of Directors set this year’s cash distribution at 50%.

Individual Patronage Refund checks are a refund on profit relative to your Member purchases when your equity was current. Due to the cost of printing checks and postage, Patronage Refund checks less than $2.00 will not be issued. We’re sending checks to over 7,680 Members (an increase of over 23% over last year’s 4,800 member checks). The average check is almost $84 and over 3 cents of every dollar eligible Members spent will be returned to them in cash.

Per IRS regulations, Patronage Refund checks are only valid for 90 days! Please cash your check before February 9, 2013. This year, uncashed checks will be donated to support the local food system through the Intervale Center.

A detailed brochure on the Co-op’s 2012 Patronage Refund is included with your check. This brochure also offers suggestions on how to donate your check or use it to make an equity payment.