When you're outside, you may not notice hummingbirds, bats, bees, beetles, butterflies, and flies carrying pollen from one plant to another as they collect nectar. But these hard-working creatures help pollinate more than 75% of the world's flowering plants and nearly 75% of our crops! Without pollinators, wildlife would have fewer nutritious berries and seeds to eat, and we would miss out on many fruits, vegetables, and nuts - even coffee and chocolate!
Join Prairie Food Co-op Owners and founders of the Saving Monarchs conservation organization, Joe and Sue LeCroy, as they give us an in-depth tour of their extensive pollinator garden. You'll learn why you should help our local pollinators out as well as get some great ideas on which native plants to add to your own garden.
This is an in-person limited event. Please only RSVP if you are sure you can attend. We will send out Joe and Sue's Lombard address to those who have registered a few days before.WHENJuly 10, 2021 at 10amWHEREPrivate Residence - we will send you the address a few days prior to the event
Lombard, IL 60148
Google map and directions
Beth Peluse published PFC Beat The Board Challenge in Community Investment 2021-04-19 01:56:53 -0500
It's on again! We’re excited to announce that we have another Match Challenge beginning Thursday April 22nd and ending Thursday April 29th.
We’re proud to announce that every single current PFC board member and most of our past board members have pledged a total of $100K to our Community Investment Program and we are challenging our community to beat our board by surpassing 100K in pledges between April 22 - 29.
Skip to the Front of the Line
Ready to meet the challenge? Complete our form below to schedule a time between now and Thursday, April 29 for one of our friendly CIP Callers to call you, take your pledge, and get your pledge on the board to beat the board!
Thank you for helping us reach our goal towards building our beautiful store!
Part of the co-op difference is our unique ability to raise funds through our strongest supporters! We need to raise $3.1 million to secure traditional financing for this $4.4 million project, allowing us to adequately fund build-out, prepare for opening, and create a financially sound business that serves our community for decades.
Professional market studies show that 109 S. Main in Lombard is the ideal location for a thriving co-op and that we can generate earnings to buy back preferred share and loan investments. However, investments are not without risk, including the risk of loss.
This is not an offer to sell securities which is made only by the Confidential Offering Memorandum and only members who are IL residents are eligible to invest in Owner Loans and only IL residents are eligible to invest in Preferred Shares
- Get started by contacting our CIP Coordinator, Kathy Nash via phone 630-446-0010 or email [email protected], to request your Community Investment Program packet today
- Go over our Frequently Asked Questions about the CIP
How Else Can I Help?
Talk to your friends and neighbors about the local grocery store coming to town! Be an active participant on our social media accounts (like, share, and comment). Connect us with potential investors. Offer your time and perspective as a volunteer. As a volunteer-led, community-based initiative, it will take all of us working together to build Prairie Food Co-op - the first grocery store of its kind in DuPage County!
We know that investing in anything is a big decision and that you probably have a lot of questions. We've listed out a few of the most commonly asked questions about the Community Investment Program below. If your question isn't listed, feel free to reach out to our CIP Coordinator, Kathy Nash, at [email protected] or 630-446-0010.
Why ask our Community to Invest?
It’s how Co-ops build the capital they need to be successful. Community investment demonstrates the existence of a loyal customer base, which:
- increases our chances for success
- generates funding that is less costly and more flexible than banks can offer
- gives commercial lenders confidence that Prairie Food Co-op is viable and desirable so they can offer PFC additional financing if needed
What’s in it for investors like me?
You have the opportunity to earn a respectable return and gain the satisfaction of knowing your money will:
- be invested locally
- increase the quality of life for our entire community
- support a venture that aligns with your values
- be THE KEY to our store opening its doors!
Our Community Investment Program offers a unique opportunity that is not tied to the volatility of the overall stock market. It very literally moves money from Wall Street to Main Street, where it can make tangible things happen within our community. This is an opportunity to invest in an organization whose values you fully understand and actually have a say in.
Can I help in ways that aren’t financial?
Of course! There are many non-financial ways to participate and get us closer to store open! Starting now, you could...
- Ask 15 friends to join you in ownership = a $3k value
Share your time & expertise = priceless. We are looking for the following skills:
- Marketing / Graphic Design
- Sales / Connectors / Callers
- Financial / Legal Paperwork / Closers
- Master of gratitude and celebrations
- Grant writers
Is PFC Seeking Traditional Bank Financing?
While we are looking into traditional bank loans, for the benefit of the co-op and its members, we hope to keep bank financing to a minimum.
What about my Ownership Shares?
As a PFC owner, you bought two Ownership Shares for $200 total. These shares are tied to voting rights within our democratic organization, One Owner = One Vote. Ownership shares funded our outreach and start-up efforts but represent a small fraction of the capital needed.
What if the Co-Op doesn’t open? Will I get my money back?
Prairie Food Co-op will hold all funds invested in Shares and Loans in escrow until we have raised a total of $2.5 million or more. At that time, the board will re-assess feasibility, as we have done at every major step of our development process. If the board determines that the project is no longer feasible and will not proceed, investments will be returned. Once escrow is broken, if the co-op does not open or closes after opening, investments are unlikely to be returned and subject to legal requirements with all contributors.
Charitable donations cannot be returned. Donations made to our fiscal agent on our behalf cannot be returned once made. If the board determines the project is no longer feasible, our fiscal agent will use the donated funds to support the wise use of cooperative approaches through education and development.
What are Preferred Shares?
Preferred Shares are stock that could yield annual dividends. Any Illinois resident can participate and buy up to 10 total PFC shares at $1,000 per share. Outside of donations, Preferred Shares are the most co-op friendly way to invest in PFC and should be considered a long-term investment (15+ years). They can yield annual dividends but like most stock, no promises.
What are Owner Loans?
Only Illinois PFC Owners are eligible to make a loan to Prairie Food Co-op with a legal agreement on interest rates and pay-off schedules. This is a mid-term investment of 15 years for investments ranging from $10,000 - $600,000. Money is eventually paid back and you earn interest on your loan. But like most loans, there are risks.
How do Grants & Donations factor in?
We will work with institutional funders, local foundations, community programs, philanthropists, and individuals like yourself to fund as much of the project as possible. For some folks and all those outside Illinois, a tax-deductible donation with no minimums or maximums is the most win-win way to contribute.
Is there a deadline to raise the funds needed to build our store?
Yes, we need to raise all $4.4M by December 15, 2021, in order to fulfill our lease agreement with the developer of our site. If we do not make that deadline, we will lose the site.
When can I invest in PFC?
Look for the Community Investment Program to begin quietly this winter, and to roll out in earnest in early 2021, shortly after development begins at 109 South Main.
If you already know you would like to contribute, reach out to us at [email protected] and we will put you at the top of our contact list once our legal paperwork is finalized and full program details are approved by our board.
More questions? Please contact us at [email protected].
We are not soliciting Owner capital in any form at this time. Owner loans will be available only to Illinois Owners, Preferred Shares will only be available to Illinois residents, and only pursuant to complete offering documents when and if a capital campaign is approved by the board.
Check out this inspiring report on the impacts that food co-ops have on their community.
A few highlights:
- What is a food co-op? (we hope you know but just in case....) A food co-op is a grocery store owned by your neighbors (and by you, if you choose). Unlike corporate chains, co-ops are totally independent and owned by folks in the community that shop there.
- Local Control. Co-ops are owned by their communities, not some corporate office 1,000 miles away. Instead of focusing on Wall Street investors, co-ops focus on what their neighbors want—nourishing everyone according to their budget and cooking style.
- Community-focused. In 2019, co-ops donated $8 million to community organizations. In addition, co-ops work with their communities in ways that reflect each community’s unique needs. For example, many co-ops offer community dinner nights where healthy meals are under $5,
- Sustainability - Food co-ops are working individually to reduce their carbon footprints and respond to the climate crisis by measuring and reducing their greenhouse gas emissions from electricity, fuel use, and refrigerant gases.
Beth Peluse donated 2015-12-27 18:29:24 -0600