The Co-op Farm & Garden Sees Business Grow

Issues Patronage Rebate Checks

Mike Youngquist, general manager of The Co-op Farm & Garden in Sequim announces that the store had another year of growth in 2015.

The Co-op’s board of directors determined that it is able to distribute its surplus (after operating expenses) as patronage dividends. This distinguishes The Co-op from other types of corporations. As a co-op, profits aren’t given to a pool of outside investors — The Co-op’s owners are the stakeholders who the company’s business affects most. A “patronage dividend” is essentially a refund issued to those who purchase goods or services from a cooperative and is calculated based upon the amount that each patron spends at the cooperative in a given taxable year.

The Co-op distributed 1,857 patronage checks totaling $35,000 on June 24. Checks were written in amounts from $5-$600.

Because of The Co-op’s member/owner loyalty, it has been able to build capital, meet coming challenges and realize its collective vision for the future for the community-owned business.

The Co-op is at 216 E. Washington St. 

by Sequim Gazette staff • July 20, 2016  http://www.sequimgazette.com/business/387697571.html

Submitted Photo: Robert Beebe, general manager of Olympic Game Farm, left, accepts his patronage check from Mike Youngquist, general manager of The Co-op Farm & Garden. 
 

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