Spring 2024 Newsletter & Annual Owners Report

ANNUAL OWNERS REPORT & NEWSLETTER

Deadline to apply: Wednesday, March 27th at 5pm

savE THE date

march

March 27 Good Foods Charitable Foundation deadline for grant applications, 5 pm

March 31 HAPPY EASTER! Stay tuned to our emails to see what our kitchen is cooking up for Easter!

april

April 27 Annual Owners Meeting, 1:00-3:00 pm in the Good Foods parking lot.

May

May 12 HAPPY MOTHER'S DAY! Stay tuned to our emails to see what our kitchen is cooking up for Mother's Day!

MESSAGE FROM THE GENERAL MANAGER

DEAN SPARKS

What they say about Kentucky hospitality is all true and I’m here for it!

Relocating for a new role is always stressful and challenging, maybe even more so when coming internationally. I arrived in Lexington Saturday, exactly one week ago, after living in Mexico the past five years.

I have to say I am overwhelmed and so grateful for the outpouring of kindness that’s been shown to me since my arrival. Those random acts of caring and grace aren’t random at all, but rather a clear display of a cities embracing the pride in their community.

What a beautiful testament to show such love to the new Co-op General Manager. Co-ops are rooted and grounded on their community outreach and caring for their local neighbors.

I am genuinely in awe of the welcoming. So many acts of kindness from Board members, staff, owners and business leaders have made my transition a very soft landing. I’m humbled and grateful. I flew here a week ago with just two suitcases. So many have stopped by my office or new home with gifts to help me get settled. It’s been a joy to see.

The highlight of my week was meeting and spending time with my amazing team. I’ve worked in the organic/natural retail sector for more than 20 years, and I’ve never been so fortunate to be surrounded by such an energetic, enthusiastic, smart and caring team. I am truly blessed.

I also got to spend Friday morning in a cameo role dressed as the Easter Bunny. How could I ever be so lucky?

Great things lie ahead for the Co-op, and I’m forever grateful to be at the helm of this amazing ship.

GENERAL MANAGER

Capital Campaign update

In 2022 Good Foods started a Capital Campaign to purchase new equipment. Owners invested a total of $32,100! We are happy to share the equipment we purchased with capital campaign funds.

• Katom Ice cream Freezer purchased for $3152.44. This freezer lives at the end of aisle five and houses frozen promotional items and local ice-cream.

• Walk-in Freezer purchased for $27893.27. By replacing the old grocery walk-in freezer, we now have upgraded storage in our warehouse to keep up with demand of frozen product for both Good Foods Market and Café.

• Robot Coup Food Processor for $2300.20*. With this purchase, Good Foods kitchen is able to bring additional offerings to hot bar, grab & go, and café menus. *Only the remaining funds of $1054.29 went towards this purchase.

Good Foods would like to thank the owners who invested in the capital campaign for their generosity and commitment to the cooperative principles. Thank you for supporting local you can trust!

Holly deering STORE MANAGER

CLAUDIA GOGGIN BOARD PRESIDENT Board update

Ordinarily I would use this opportunity to provide information about the ongoing operation of our Co- op, but this is not an ordinary time. The financial situation at the Co-op, which has been extremely challenging, has become dire, threatening the ability of the Co-op to continue operating. As a result, we are seeking a critical infusion of capital to provide time to make the changes needed to return the Co-op to financial sustainability. We are asking owners who are in a financial position to bear the economic risks of an investment in the Co-op to consider extending a loan to the Co-op for a period of 3 or 4 years. If you would like to find out more about Owners loans, please email ownerloans@goodfoods.coop.

In a most important step to correct this situation, the Board hired Dean Sparks as our new General Manager. Dean comes to us with a dedication to co-ops, organics and sustainability, and a strong management background. We believe he has the vision, energy, and skills to move the Co-op forward significantly in the coming years. He joined the Co-op on March 11 th and immediately started working with the staff to make noticeable improvements. As skilled as he is, Dean will not be able to do this alone. He will need the full support of our staff and of our owners to ensure the ongoing viability of our Co-op.

The changes needed require funding. For co-ops, it is best to raise funds via investments in preferred shares. Many co-ops have been successful in such campaigns because they can pay dividends on preferred shares (making such investments or loans equivalent to owners). However, our Co-op cannot pay such dividends due to a nonprofit provision in our articles of incorporation. Our Capital Campaign in 2022 only raised

$32,100 (just over 10% of the target) which enabled the purchase of a few key pieces of equipment, but the Co-op still has a significant amount of equipment and infrastructure improvements that need to be made to fully function. Simultaneously, there has been a noticeable decline in the quality of products and services provided in-store.

The Co-op needs a significant infusion of funds from owners to allow for the necessary time to address and correct longstanding issues and align the Co-op with industry standards. Without immediate owner support 2024 may be our last year in operation. All owners, and even non-owners, can help by shopping more at the Co-op. Bring your friends for lunch or dinner in the cafe and show them around the store. Let the community know how much you appreciate everything the Co-op has to offer! Turning to more regular business, we thank the owners who have stepped up to share their skills and talents by running for a board position For this election cycle, you will see that there are four open seats on the board. Three of the seats are for the standard three-year term; one of the seats is for a one-year term following a board vacancy. We would like to encourage you to show your support with your vote for the owners who are stepping up to volunteer their time to help the Co-op. This is also an opportunity for you to vote for the Give Where you Live partners. These are the organizations that will receive donations from rounding up during check-out over the upcoming 12-month period. Additionally, you will have an opportunity to submit questions for the Annual Owner Meeting.

If you have questions, suggestions, or concerns for the Board, feel free to join us at a board meeting or send us an email at board@goodfoods. coop. We look forward to seeing you at our Annual Owner’s meeting on Saturday April 27 th from 1PM to to 3PM at Good Foods Co-op.

MEET Your 2024 BOARD CANDIDATES

Nolan Aull

Hello everyone! I am Noland Aull, and I have had the privilege of being a proud co-op owner since 2018. Since then, I have worked to foster conservation and sustainability as a member - then -Secretary of the LFUCG Environmental Commission since that same year. Concurrently, I am serving as the Secretary of the Greenspace Trust here in Fayette County, I have had the privilege to actively contribute to riparian and public greenspace repair and improvement projects.

I am a University of Kentucky alumnus, graduating in 2020 with a BA in Political Science, where I cofounded the UK Student Philanthropy Board. My background in fundraising is complemented by a study of cooperative forms of ownership and local food systems, as well as my experience in the UK MBA program and interning with Ale-8 One. I am inspired to contribute more to our Co-op - through better customer and staff feedback, local sustainability programming, publishing a written five-year plan, and increasing partnerships within the community.

My candidacy for the Good Foods Co-op Board is grounded in that dedication to community engagement, shared ownership, and democratic control. As we embark on this journey, I am excited about the prospect of serving the community through the Good Foods Co-Op Board. I know we have our best days ahead of us!

about the board

Your elected Board of Directors represent you, our owners, as they help make decisions about our strategic goals and ensure the sound management of our Co-op. Each board member is elected to serve a three-year term, with terms staggered so about a third of your board is elected or re-elected each year. To vote on this year's board candidates, fill out the ballot on page 8 and mail it in. You can also vote online at www. goodfoods.coop.

MEET Your 2024 BOARD CANDIDATES

Cathy Burnett

Cathy grew up in Paris, Kentucky. She has lived in Lexington and been a member/ owner of Good Foods Co-op for the past 22 years. Cathy worked at Good Foods from 2002 to 2011, spending much of her time as the Coffee Bar/Café Manager and was with Good Foods through three café expansions, helping to plan and implement many of the changes. Cathy studied Economics and Accounting at the University of Kentucky and Eastern Kentucky University. She has volunteered with several local organizations over the years, including the Lexington Humane Society and The NestCenter for Women and Children. She is enthusiastic about the mission and values of Good Foods Co-op, especially Concern for Community and inclusion. She would like to join the board of directors to represent the voice of the owners and local neighborhood.

STEVE KAY

I have been a member/owner of the Co-op since its earliest days. During that time, I have been deeply involved with the Co-op and have served in many different volunteer capacities,including a term as President of the Board. I am a founding partner of Roberts & Kay, an organizational development consulting firm committed to

advancing democratic practices in workplaces and communities. I served as an at-large member of the LexingtonFayette Urban County Council for twelve years, including eight years as Vice Mayor.

josiah correl

I’ve spent the last thirteen years of my life working in the restaurant and hospitality industry; the most recent three, were as the owner and operator of my own restaurant, Pasture by Marksbury Farm. I am very passionate about changing the way people in our community view food and where it comes from. One of the projects I spearheaded while I was working as GM at our restaurant and butcher shop in Lancaster was a prepared meal program. Not only was the project well received by our guests it also solved a problem by creating an avenue for cuts of meat and produce that may not have been sold otherwise. As a cook and restauranteur who works exclusively with local, pastureraised products, I know I can continue to make a significant contribution to better serve our local community, while operating as efficiently as possible.

about the board

Thank you for your consideration, Josiah Correl.

Your elected Board of Directors represent you, our owners, as they help make decisions about our strategic goals and ensure the sound management of our Co-op. Each board member is elected to serve a three-year term, with terms staggered so about a third of your board is elected or re-elected each year. To vote on this year's board candidates, fill out the ballot on pages 24 & 25 and mail it in. You can also vote online at www.goodfoods.coop.

vote early. vote online.

Cast your vote online for the Board candidates and Give Where You Live partners at goodfoods.coop. Quick, easy, done! Online and mailed ballots must be received by 11:59 pm on Wednesday, April 24.

fill out

Important! You must fill out this panel completely for your mail-in vote to be valid.

required required required

OWNER NUMBER

Found on back of owner card. Ballot is invalid without owner number.

questions

YOUR FULL NAME

Owner of record's name. Ballot is invalid without owner name.

SIGNATURE

Sign here. Ballot is invalid without owner signature.

You may write any questions you have below. We will make our best effort to address them at our Annual Owner Meeting.

vote

Board of Directors candidates (vote for up to four)

The candidate with the least votes will serve a 1-year term.

Cathy Burnett nolan aull

steve kay

give where you live

vote GWYL Partners (vote for up to ten)

You may vote for up to 10 charitable organizations including a write-in organization. You can find more information about each on our website. The top 10 organizations chosen will be our Give Where You Live partners from May 2024 through April 2025. The Good Foods Charitable Foundation and Kentucky Double Dollars program will round out the year as our remaining organizations.

Bluegrass Council of the Blind

Bluegrass Greensource

Broke Spoke

Carnegie Center

Children's Advocacy Center of the Bluegrass

DV8 Kitchen Foundation

Fayette Alliance

Floracliff Nature Sanctuary

Foster Care Council

Friends of the Lexington Public Library

cut & mail

1. Cut ballot along dotted line.

2. Fold and place in an envelope.

Glean KY

HOPE Spay Neuter Clinic

Jubilee Jobs

Justin's Place

Lex Center for Creative ReUse

Lexington Children's Theatre

Lexington Pride Center

Red Oaks Forest School

3. Drop it off at Good Foods Co-op or stamp and mail to:

I have included my Co-op owner number, name and signature. I am submitting the full ballot page (no panels removed). My ballot is being mailed in time to be received by April 24th.

ROUND-UP Update 2023

Holly deering STORE MANAGER

Concern For COMMUNITY

The Give Where You Live program thrived in 2023. Through your generosity at the register, we raised $18,626.14 through small change donations! Together, we can make an impactful investment in local organizations.

Did you know that we donate $0.10 on your behalf for bringing your reusable shopping bags? This promotion includes the reusable bags that Good Foods supplies at check out when you spend $50 or more.

Owners have a voice by voting for local charitable organizations they’d like to see us support in the next Give Where You Live cycle –you’ll find a list on the ballot in this newsletter. Don’t forget to round up at the register on your next shopping trip!

HELP US BE A LITTLE GREENER

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