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 the details of your 2014 Patronage Refund) will be sent to the mailing address we have on file for your Membership. If you have moved since your last piece of mail from the Co-op, be sure to call or write us with your current address.
WHAT SHOULD I DO WITH IT?
Use your Patronage Refund for something extra special! Shareholders with photo ID can use their refund on any transaction: spectacular wine, local veggies, chocolate truffles, a new blank journal...
You can also donate your refund; we'll divide it between The Yolo Food Bank, STEAC, and Davis Community Meals, in your name.
I DIDN'T RECEIVE A NOTICE - WHY?
During the last fiscal year, you needed to spend at least $1,156.49 while giving your cashier your member number to get a refund. If you didn’t shop at least that much, your refund would have been less than $5. The board only authorized 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.
This year marks the first time since 2007 our Board of Directors has authorized a Patronage Refund returning profits to our members. Thanks for contributing to a great year by shopping at the store you own!
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 do not redeem your Patronage Refund by September 15, 2015, you forfeit the total amount. Patronage Refunds may only be redeemed by the primary Shareholder of that Membership.
Please email Doug Walter, or phone him at (530) 758-2667 ext. 111.