2011 Patronage Rebate

May 2, 2012

Dear Good Foods Co-op Owner,

Good Foods Co-op has ended another very successful year and we look forward to continuing to serve our owners and the wider community. Each year as we review Co-op operations, we also anticipate sharing the Co-op’s success with our owners by declaring patronage rebates and distributing a portion of those rebates to our owners. Rebates are an important means by which cooperatives can reduce their taxable income and improve their capital position.

Sales to owners of $5,595,997.57 accounted for 54.79% of total sales, resulting in $38,850.34 available as the “pool” for patronage rebates. Good Foods Board of Directors has decided to distribute 20% of the rebate in cash to owners. The rebate is proportional to your purchases.

The remaining 80% will be retained and used to improve the capital position and liquidity of the Co-op. This retained patronage rebate will be credited to owners’ individual accounts and may be returned as provided for in Section 9.4 of the Bylaws when no longer needed as capital for the Co-op.

This year we are mailing all patronage rebate checks as advised by our attorney. Please note that the check is void after 90 days so please cash it by July 31, 2012. You may redeem your check at the Co-op or at your credit union or bank. If the check is not cashed within 90 days, we are required to turn the money over to the Unclaimed Property Division of the Kentucky State Treasury (http://s.coop/jkop).

If you would like to donate your check to the Co-op, just endorse the check and drop it off at the Customer Service desk. The money will be donated to Good Foods Give Where You Live Program (http://s.coop/jkoo) which supports local nonprofits.

For more information about the 2011 patronage rebate, visit our website at http://s.coop/jkor. If you have questions regarding the enclosed check, contact Ann Marx, Owner Services Manager, at (859) 278-1813, ext. 244 or annm@goodfoods.coop, or visit the Customer Service desk. Thank you for your continued support of our Co-op.

Richard Stump

Board President