A MESSAGE FROM OUR BOARD OF DIRECTORS

 
Dear Rising Tide Co-op Owner,  
 
Your Board of Directors is responsible for ensuring that the cooperative maintains a strong financial position far into the future. At this time, the Board of Directors is pleased to report we have voted to distribute a patronage refund to member-owners based on our operational surplus income (profit) attributed to member sales between January 1, 2024 and December 31, 2024. Patronage dividends are a return of operating profits to member-owners based on net profit generated by member-owners. 
 
Rising Tide’s total gross sales by members for 2024 were $8,531,204. The Total Net Profit was $392,968. Based on recommendations from our accountants, and guided by the Co-op’s Bylaws, the Rising Tide Board is declaring a patronage dividend of $306,515. This decision saves us in taxes and enables us to distribute a more significant portion of the net profit back to the member-owners who shopped at Rising Tide during 2024.  We will distribute $61,303 based on Rising Tide’s Bylaws. In addition, $39,297 will be deposited into our reserve fund and as guided by the Bylaws, we will donate .05% to an Educational Organization. This year, we will increase the amount and make a $500 donation to FARMS at the Y to support their work to teach young people in our community about gardening and healthy cooking. 
 
The patronage dividend is a refund on your purchases; it is therefore NOT considered to be taxable income by the IRS. Another way to look at it is that you are receiving a deferred discount on purchases you have already made at the co-op. Your refund amount is determined by how much your purchases contributed to our profit. In other words, the greater your purchases excluding discounts or sales, the greater your refund. This is a distinct business difference built into the cooperative model—rather than basing your return on the number of shares you own (the more you invest as a stockholder in a corporation, the greater your return and the more votes you have), the co-op’s surplus income is refunded to member-owners in proportion to how much they support the store with their purchasing dollars. 
 
This year, we are again placing your dividend electronically on the point-of-sale system. Due to the administrative labor costs of processing all dividends (6009 individual active owners in 2024), anything less than a $3.00 dividend will be donated to Healthy Lincoln County for food insecurity programs. 
 
Beginning on Tuesday, September 9, you can redeem your dividend three ways: 1.) At the cash register, our cashiers can view your dividend balance and place it against your purchases until the amount is exhausted, 2.) You may email our Accounts Manager, Ashley Lawson, at finance@risingtide.coop and request a physical check, or, 3.) You may use it to contribute to Healthy Lincoln County. To make that donation, please email Ashley. It is very important that you redeem or donate your dividend distribution on or before June 30, 2026. 
 
The Board of Directors would like to congratulate YOU on owning and patronizing our thriving local cooperative—thank you for your continued support! If you have any questions or comments, please contact General Manager, Heather Burt, at heather.b@risingtide.coop or Outreach Coordinator, Shannon Bailey, at outreach@risingtide.coop. 
 
On behalf of the Board of Directors of Rising Tide Co-op,  
 
Ed Ross, President

---

“There is no substitute for hard work.” – Thomas Edison 

She hasn’t told me this is one of her core values, but in the nine years that I have worked with her, Carol Manley has always exhibited this as a guiding principle in her job here at Rising Tide, in her commitment as a runner, and in the volunteer work she does for multiple weeks each spring. Carol brings this energy and work ethic with integrity and kindness. When you shop at Rising Tide you are impacted by her contributions whether you know it or not. She is a positive and wonderful member of our community.

Carol has worked at Rising Tide for fifteen years and we are going to miss her very much! Simultaneously, I am excited for her and her retirement. Whatever she does she will be giving to the people and world around her. I invite you all to join me and the Rising Tide staff in thanking Carol for her positive impacts on our community.

Heather, General Manager

---