WHAT IS A PATRONAGE REFUND?
Your Patronage Refund is a percentage of the Co-op’s profit from the last Fiscal Year. It is calculated based on your purchases (a.k.a. your patronage as a Member-Owner) and the total profit allocated by the Board.
WHO IS ELIGIBLE?
Members who were in good standing for the fiscal year in question.
HOW WILL I GET MY REFUND?
Your "Nonqualified Written Notice Of Allocation" (which contains details of your 2015 Patronage Refund) will be sent to the mailing address we have on file for your Membership. If you have moved, please call or email to update your address.
WHAT SHOULD I DO WITH IT?
Use your Patronage Refund on any transaction, or for something extra special at the Co-op! Sushi platters, small-batch bourbon, local veggies, chocolate truffle almonds, red quinoa, a new paring knife... Paul & Elizabeth are looking forward to spending theirs on starts during our Spring Plant Sale.
You can also donate your refund; we'll have more information about that option after we've mailed out Refund notifications.
I DIDN'T RECEIVE A NOTICE - WHY?
We haven't mailed the 2016 notices yet. But for reference: in order to be eligible for last year's Patronage Refund, you needed to be a Member in good standing, and you needed to spend at least $1,156.49 at the Co-op during fiscal year 2013-2014. You also needed to give your cashier your member number each time you shopped. That is how we associate your purchases with your Membership. If you shopped less than that, your refund would have been less than $5. The board only authorizes refunds of $5 and over, because they are expensive to process.
HOW DOES IT WORK?
Co-ops are owned by their members. Members buy shares in the Co-op, and the distribution of profits is based on how much each Member spends at the Co-op, rather than on how many shares each Member owns. The more you shop, the more you get back in Patronage Refunds. This is why it is important to show your member card or give your member number to your cashier when you pay. Patronage Refunds are in keeping with the third Cooperative Principle of “Member Economic Participation.” Distribution of Patronage Refund lets Members share in the success of our community business, and reinvestment of profits enables us to maintain and foster the Co-op as a thriving source of wholesome food.
Your Patronage Refund is not considered taxable income if your purchases were for personal/household consumption. An individual refund is a deferred price reduction on goods purchased for personal use. If you did not redeem last year's Patronage Refund by September 15, 2015, you forfeited the total amount. Patronage Refunds may only be redeemed by the primary Shareholder of that Membership, with photo ID.
Please email Doug Walter, or phone him at (530) 758-2667 ext. 111.