DUCK SOUP COOP
Board Minutes
February 20, 2006
Present: Peggy James, Judy Krajewski, Ann Mueller, Tania Nezrick, Ruth Peterson, Mary Helen Polensky, Kathy Stelford.
Absent: Cynthia Nelson (illness)
The meeting was called to order by Treasurer Polensky. Stelford moved and Nezrick seconded a motion that the minutes of December 19 and January 28 be accepted as circulated. The motion passed. The agenda was accepted as presented.
The tax file has gone to the accountant for tax preparation. 144 memberships are paid to date. The comparable amount last year at this time was 128.
January sales were strong at about $2400 for each day open. The cold weather caused cooler difficulties one night. James and Nordstrom stayed overnight to keep the motors working. No food was spoiled because of their vigilance.
The next board meeting will be March 20, 2006.
James presented a letter to Jack Carpenter proposing purchase of the building. She also presented one proposal for a loan and payment schedule from Castle Bank. She said that looking at that schedule and figuring in taxes, the yearly payments would be relatively close to the yearly cost of renting the facility.
After a few wording changes, there was consensus that the letter should be sent to the landlord over the president’s name.
Conveners for each of the committee were identified as follows:
Finance – Polensky
Outreach – Muller
Membership – Stelford
Personnel – James
Executive – Nelson
James, speaking on behalf of Nelson, mentioned the possibility of reincorporating as a cooperative rather than remaining a not-for-profit organization. Since Illinois does not have laws covering cooperatives the incorporation would have to be done outside the state. This was mentioned as a possibility because the current by-laws provide that in the case of closure of the coop, the assets are to be given to other not-for-profit organizations.
If, however, the coop owns a building perhaps the assets should be distributed among the members. Changing incorporations is a relatively complex process and would require changing the member dues to a member equity shares program. There is a small tax benefit from this arrangement as well.
James has no strong opinion on the issue but raised it for the board to ponder.
James will investigate a new phone system to facilitate communication inside the building and provide for the greater technology needs.
There were no committee reports. Krajewski asked about how the suggestions made at the January planning meeting are being dealt with. Polensky suggested that each committee convene and identify which areas they are willing to work on.
James mentioned that Assistant Manager Stravers is working on a member-only coupon booklet that would identify sales items through UNFI and could be picked up every 2 months at the counter as people came in to shop.
The meeting was adjourned upon a motion from Krajewski seconded by Muller.
Ruth Peterson
Secretary