Bloomingfoods Cooperative Community Fund
Bloomingfoods has a long and distinguished history of contributing to our community, as is seen in donations, sponsorships, grants, and outreach events. To ensure the long-term viability and growth of this tradition of giving, we have established and are building the Bloomingfoods Cooperative Community Fund (BCCF.) The fund embodies three of the basic cooperative principles: concern for community, cooperation among co-ops, and member economic participation.
What is a Cooperative Community Fund?
A cooperative community fund (CCF) is an endowment fund. Begun with a $5K from the Twin Pines Cooperative Foundation (TPCF) the fund is now growing through tax-deductible donations from individuals and organizations. The fund is administered by TPCF, and the principal is invested primarily in cooperative development funds, credit unions, and local community owned banks that support cooperatives.
Interest earned ffrom these investments is non-taxed and some of it each year will be used by Bloomingfoods to suport local groups working on a host of soci-economic issues. These might include but not be limited to local producer , hunger, organic food, environmental protection, sustainable agriculture, and cooperative development. Interest earned from these investments is non-taxed and some of it each year will be used by Bloomingfoods to support our own local giving program.
As you can see, a large, healthy fund of this type is a wonderful way of serving many needs: the principal, itself, is invested responsibly and in a manner consistent with our values and priorities; the interest earned is applied to equally significant local projects; the fund provides our members and eveyone else in the community an excellent tax-deductible destination for their own philanthropic efforts; and it ensures that our giving programs are less dependent on the heavily taxed income we earn from our store operations.
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