Back in January of this year our Board of Directors declared patronage for Shareholders with a deadline to claim or donate to Groundworks Collaborative of April 1. We are extending this for one more week to allow for folx to utilize or donate at check out. If you do not utilize it by Friday April 8th, we will donate your patronage to Groundworks Collaborative. The note below is from our President of the Board, Jerelyn Wilson as it shares all the details on patronage from back in January.
Jon, Marketing and Community Relations
Despite the many challenges caused by the pandemic, we feel incredibly grateful to have successfully finished our fiscal year in June with a positive net income. Thank you for your loyalty which helped to make this possible. Our success allows us to return a portion of our profit to all eligible shareholders, recirculating important capital back into our community. A paperless patronage refund will await you at our Co-op’s cash registers, where a cashier will prompt you to redeem it in a one-time transaction.
Patronage refunds allow the Co-op to share a portion of our profits with you. We determine your refund based on the amount you purchased during a given fiscal year. Therefore, the more you have shopped, the larger your refund.
59.84% of our sales came from purchases made by shareholders in FY 2021. Based on the year end financials and the Co-op’s tax liability, the Board has declared a patronage dividend of $600,000, 20% of which will be distributed to shareholders in proportion to their spending (patronage) at the Co-op during FY21. The remaining 80% is retained and reinvested in our business to pay down debt and improve the long-term health of our business.
Our retained patronage demonstrates that we are in this together for the long haul, as we will all share in the expected future benefits derived from managing our resources responsibly.
You may redeem your refund for purchases in our store or in the form of cash, or you may choose to donate it to the Groundworks Collaborative.
Thank you for your continued support—it made this patronage refund possible!
Jerelyn Wilson, President, Board of Directors
On behalf of our Board of Directors: Calvin Dame, Nick Dickison, Judy Fink, Denise Glover, John Hatton, Michele Meulendyk, Johanna Zalneraitis
HOW TO REDEEM YOUR REFUND
When you visit our Co-op before April 1, your cashier will prompt you to redeem your patronage refund in a onetime transaction. At this time, you can choose to apply it to your purchase, transfer it to a gift card, redeem it for cash, donate it to Groundworks Collaborative, or any combination of the above.
Only the voting Shareholder or your designated household member may redeem your patronage
refund at the register. Also, if you do not have an email or address on file with us (which is close to 300 people) we could not send your letter and it will be available at Customer Service.
If you do not redeem your patronage refund by April 1, 2022, it will be considered a
donation to the Groundworks Collaborative. If you cannot visit our Co-op before April 1, 2022, please call 802-246-2823 or email; Dividend@bfc.coop. Notice: The patronage refund attached to your Shareholder number can only be redeemed once. It is your responsibility to communicate to any household members associated with your membership how the patronage refund should be redeemed.
What is the deadline for redeeming my voucher?
As mandated by our Co-op’s by-laws, all patronage refunds must be claimed by April 1, 2022.
After this date, the Co-op will donate all unclaimed refunds to Groundworks Collaborative.
What is the total amount of the patronage refund rebate?
Our co-op will distribute $120,000 of its earnings for the year ending June 27, 2021
to its Shareholder owners. The $480,000 of remaining patronage dollars will be retained for the capital needs of our Co-op.
Am I eligible for a refund?
You must be a Shareholder of Brattleboro Food Co-op in good standing and have made purchases between June 29, 2020 and June 27, 2021.
Is this rebate taxable income?
Patronage refunds are not taxable if the Shareholder-Owner’s purchases are for personal or family use. If used for business purposes, they may be subject to income tax. Please consult your tax advisor.
To donate your patronage refund to Groundworks Collaborative, please notify your cashier when they prompt you to redeem your patronage refund. All money left on registers by April 1, 2022 will be donated to Groundworks Collaborative. We will not be tracking donations separately we simply ask you do not apply your patronage to your bill or take it in cash to make a donation. You may be asked more than once, we apologize ahead of time. Again, with any questions or if you cannot visit our co-op before that time, please call 802-246-2823 or email: Dividend@bfc.coop.
Groundworks Collaborative’s work aligns with the cooperative principle “concern for community” thus it was an easy decision for us to choose them as the recipient of our patronage dividend donations. Groundworks Collaborative was established in 2015 following the merger of two wellestablished organizations: the Brattleboro Area Drop-In Center and Morningside Shelter (having previously been in existence for 27 and 36 years respectively). Groundworks Collaborative provides ongoing support to families and individuals facing a full continuum of housing and food insecurities in the greater Brattleboro area. They are located at 54 South Main Street in Brattleboro, VT.
For more information please visit https://groundworksvt.org/.