Dividends 2023 — Moscow Food Co-op

Dear Moscow Food Co-op Owner,

The Moscow Food Co-op Board of Directors is pleased to announce a successful year in 2023. With sales of $11,443,586, of which over 74% were to Co-op owners, and a total net profit of $37,796 before taxes, we are declaring disbursement of patronage dividends in the amount of $28,000.

Patronage dividends are a benefit of ownership. The amount of your individual patronage dividend is based on the amount of business you did with the Co-op in 2023. As a whole, our cooperative benefits from voting to disburse patronage dividends to owners because it reduces our tax liabilities. The portion of net profit that is allocated as patronage dividends is not considered taxable income to our business.  (The dividend is NOT taxable income to owners. However, business purchasers are encouraged to contact your tax advisor.)

Starting on September 15, you can redeem your patronage dividend at any cash register by obtaining your voucher, which must be used in-store by December 15, 2024. The voucher will contain the details of your dividend, so please keep it for your records. By using the voucher, you agree to accept the full amount of your patronage dividend in accordance with IRS Code.

The Co-op encourages you to redeem your patronage dividend in one of three ways—you have earned! Simply visit the store to obtain your voucher. From there, you have three options: 1) apply the dividend toward your purchase, 2) request it in cash, or 3) donate your dividend to our Cooperative Community Fund. Any unredeemed dividend will be automatically donated to the Cooperative Community Fund on December 16, 2024.

Patronage dividends are just one of the unique benefits of cooperative ownership. Together, as shoppers and owners and workers, we have built a thriving community business. If you have questions, please email us at  info@moscowfood.coop. Thank you for your continued support.

Sincerely,
Mark Thorne, Board President

  • The Co-op encourages you to redeem your patronage dividend in one of three ways—you have earned Simply visit the store to obtain your voucher. From there, you have three options:

    1. Apply the dividend toward your next purchase.

    2. Request it in cash.

    3. donate your dividend to our Cooperative Community Fund.

    The choice is yours, and each option supports our mission in its own way. Any unredeemed dividend will be automatically donated to the Cooperative Community Fund on December 16, 2024.

  • Questions regarding your patronage dividend can be emailed to us at info@moscowfood.coop

  • All owners who shopped at the Co-op in 2023 and linked their purchases to their ownership account are eligible to receive patronage dividends. Our Bylaws allow the Board to forego distributing a minimum level of dividends and to place those funds directly in capital reserves. All owners who purchased enough to earn a patronage dividend voucher greater than $2 have a voucher waiting to be picked up.

  • On an annual basis the Board votes to disburse patronage dividends based on the financial success of our business, as well as the portions to distribute and retain. The Board's primary concern is the long-term health and prosperity of our Co-op.  This year, in accordance with Co-op Bylaws and IRS Code, the Board is distributing 20% of your patronage dividend and retaining 80% for future capital improvements, including equipment like new freezers and coolers.

  • Please email us at  info@moscowfood.coop

 

For questions regarding your dividend, email info@moscowfood.coop