KCFC: A community food co-op in Kensington

There has been a push to get a locally owned and operated, non-profit coomunity food co-op going in Kensington. I attended one of the informational meetings, and it is a really excellent idea. I just want to spread the word on something that I think could be fantastic for the neighborhood.

There is going to be a focus on good business practices, healthy organic local food, minimal packaging, and all kinds of good stuff.

Currently, they're conducting their first membership drive. I'll include the details at the end of this post. A bunch of my (and maybe your) friends are working on it, so you could ask John Kolodziey, Jeff Carpineta, Stephen Way, or others for more info. This is going to be a huge success if the community supports it, and I think there is a lot of potential interest. Now people have to buck up and make it a reality.

FUNDRAISING INITIATIVE (1ST Member Investment Campaign)

This initiative is to solicit the 1st financial investment from our future membership. Our goal is to complete this initial investment campaign by August 31, 2009. Review of Proposed Budget Needs: The start-up budget of each committee for basic expenses has been estimated at $3,200.00. This includes a small number of reimbursements due.

NOTE ***At this time, our project has received support in kind from the following organizations: Cooperative Development Services, East Kensington Neighbors Association, Greensgrow, New Kensington Community Development Corporation, Philadelphia Brewing Company, the Spirit Newspaper, Urbane Development LLC, Walking Fish Theater and Weaver’s Way Co-op.

Terms of Investment:
Membership: A “member” is a person who has monetarily invested in the Coop. A "member" is considered to be the primary contact for communications from KCFC.

$ Amount: Based on the start-up needs of the group the recommended minimum initial member investment from each member is $40.00, though members are encouraged to invest as their means allow. This amount is intended to yield sufficient funds for start up expenses for all working committees.

Credit towards KCFC membership: Any direct financial investment in KCFC will be applied as a credit towards the total investment required of members once KCFC is established. At this time, member investment in KCFC (lifetime) is estimated to be $200.00.

NOTE: Members offering the full investment received or postmarked by August 31, 2009, will receive a 10% discount, making the membership investment a total of $180.00.

Limit to Member Investment: Any total capital contribution to KCFC beyond $180.00 will not be considered member investment, but will be handled as a donation. Donations are happily and graciously accepted.

Record Keeping / Accounts: The Steering Committee (SC) has voted to appoint an interim Bookkeeper - Dina Richman, until a permanent Bookkeeper and/or Treasurer is appointed. The Bookkeeper is required to be a regular participant of the planning and finance committee and must report to the Planning + Finance committee upon request. The SC voted to open an account at a local bank.

Signers on Account: The interim bookkeeper will be listed as signer on the account. In addition to the bookkeeper, the SC has approved 3 signers of the account: Lena Helen, Natalie Pollard, and Sarah Daub.

Refunds: If a member requests a refund while KCFC is active, then the full member investment will be returned to the member only if the KCFC store has been operational for one year and only if replacement capital is available at the time of request. If KCFC is no longer viable either before store opening or anytime after, then a refund of member investments is not guaranteed. Donations are considered gifts and will not be returned.

Transfer of Membership: Member Investment is not transferable.