For the third year in a row, Weavers Way's Board has declared a rebate for members in good standing. You know what that means, don't you? Money back!
Claim your rebate by checking in with a cashier at any store, or by using the custom link on the email we sent out to all member households on Jan. 16. The deadline to redeem is May 20. Didn't get your email? Check with the Membership Department, firstname.lastname@example.org or 215-843-2350, ext. 119.
You can take your rebate in cash or use it for shopping. You also have the option of adding it to your household's Regular Equity account, which goes with you should you leave the Co-op, or donating it to Food Moxie, Weavers Way's affiliated nonprofit.
Declaring a rebate reduces Weavers Way’s federal taxable income by allowing us to eliminate the amount attributable to member-owner sales. The IRS requires that a minimum of 20 percent of the declared rebate be paid in cash; the remainder can be retained as reserve equity. This year's total rebate is $281,911. Members are being refunded a total of $56,382 in cash; the remaining $225,529 is being put in the Co-op’s Reserve Equity fund, which supports store operations and helps keep us on secure financial footing.
For more information about the rebate and Reserve Equity, read the January Shuttle article, available here. And don't forget to pick up your money!