Liability of members?
The liability of a member is limited in accordance with the Co-operative Corporation Act (link with the act) in Ontario. Still have questions? Email us (link with info@sproutscoop.ca).
Why does Sprouts sell bond?
The bonds invested with Sprouts go towards start-up costs associated with starting a new business: renting a kitchen and office, inventory, creating a point of sale system, and developing programs to support a range of accessibility needs – all of these important things are to be created with the investment from our community. It is due to this early investment that we are able to provide high quality foods for our consumers. And we hope that the community is pleased with all of the delicious returns we provide as a result!
What is a Bond?
A bond is a low interest loan that members can purchase in order to invest in the co-op. Sprouts is planning to sell bonds (also called members’ loan) to raise funds for our co-op. The first set of bonds are planned to be launched in Spring 2018 at $500 increments with 3.5% interest, considerably better than a Canada Savings Bond. Each bond had a five or ten-year term; interest began to accrue after two years (2020). Members can purchase up to $10,000 per person per calendar year. The board will re-set the interest rate in the subsequent set of bonds based on financial situation of the co-op.
Donations of any amount can still be made at any time. However, as Sprouts is not a registered charity, we are not able to provide charitable receipts at this point.
How can I get involved with Sprouts?
We are excited when you want to get involved with Sprouts. There are many ways that you can get involved:
Join Us: You can join us by purchasing a $5 membership.
Donate: We gladly also accept donations to help us along the way. Every donation makes a difference.
Volunteer: you’ve got great skills? Like to help in events? Prefer to work ink kitchen? We need a lot of volunteers to help out. If you are able to help, email us at info@sproutscoop.ca.
Visit our website and social media: Get the latest updates from us on our websites and social media.
What does it mean to be a member of Sprouts?
Sprouts has 4 stakeholder-groups or membership: worker-members, health practitioner-members, community partner-members, and consumer-members. You can join Sprouts Food and Health Co-op and become a member for a $5 lifetime membership.
The Board of Directors is an elected group of members who include persons from each of the stakeholder member group, sitting on our Board and representing the membership at large. Although the Board makes the big decisions for the co-op, all members do get to have their voices heard. For example, survey will be sent out to our membership asking them what kind of products they would like to see Sprouts to carry. This type of feedback is essential to building a co-operative that is created for the community and by the community. We also have an Annual General Meeting (AGM) where the board selection and other important decisions are made. We strive to develop various ways that members can participate, contribute, and get involved.