What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate...
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Transcript of What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate...
![Page 1: What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit. Types of co-ops.](https://reader038.fdocuments.us/reader038/viewer/2022102800/56649cd65503460f9499cf55/html5/thumbnails/1.jpg)
![Page 2: What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit. Types of co-ops.](https://reader038.fdocuments.us/reader038/viewer/2022102800/56649cd65503460f9499cf55/html5/thumbnails/2.jpg)
What is a CO-OP?
• A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit.
• Types of co-ops include retailer, consumer, business, real estate and agriculture.
• There are hundreds of cooperatives in the United States alone, with thousands of members.
![Page 3: What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit. Types of co-ops.](https://reader038.fdocuments.us/reader038/viewer/2022102800/56649cd65503460f9499cf55/html5/thumbnails/3.jpg)
Objectives of a DCN
• Assist its members in marketing their services• Provide access to benefit programs not always available on an
individual basis.• Provide it’s members services of common interest
![Page 4: What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit. Types of co-ops.](https://reader038.fdocuments.us/reader038/viewer/2022102800/56649cd65503460f9499cf55/html5/thumbnails/4.jpg)
What DCN Accomplished
• Formed a co-op of drivers in greater NY.
• Established business relationships with Transportation Delivery Brokers for the use of the services provided by our members.
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Advantage to Transportation Delivery Brokers
• Provides access to a large pool of highly motivated and qualified Deliver Vendors and vehicles
• Recruiting and screening support provided by co-op.
![Page 6: What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit. Types of co-ops.](https://reader038.fdocuments.us/reader038/viewer/2022102800/56649cd65503460f9499cf55/html5/thumbnails/6.jpg)
Advantage to Delivery Vendor
• Provides input into management of co-op• Opportunity for volume discounts on products used by members• Access to benefit programs customized to your industry at group
rates.• Co-op can generate income resulting in dividends paid to it’s
members• Management group employed to provide direct support to
members in providing for their individual needs.
![Page 7: What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit. Types of co-ops.](https://reader038.fdocuments.us/reader038/viewer/2022102800/56649cd65503460f9499cf55/html5/thumbnails/7.jpg)
How can you be part of DCN?
• Purchase one share of stock.
• Be an established independent business.
• Enter into a formal service agreement with DCN.
![Page 8: What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit. Types of co-ops.](https://reader038.fdocuments.us/reader038/viewer/2022102800/56649cd65503460f9499cf55/html5/thumbnails/8.jpg)
Purchase a Share of Stock
• Par value of stock is $25.00
• DCN would repurchase at par if you leave the co-op
• One share per member with voting rights
• No legal liability
![Page 9: What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit. Types of co-ops.](https://reader038.fdocuments.us/reader038/viewer/2022102800/56649cd65503460f9499cf55/html5/thumbnails/9.jpg)
Establish an Independent Business
• Corporation, LLC, DBA or FEIN
• Settlement payments made in name of business
• Banking relationships and tax reporting can remain the same
![Page 10: What is a CO-OP? A self-governing corporation owned and controlled by it’s members to collaborate for their economic and cultural benefit. Types of co-ops.](https://reader038.fdocuments.us/reader038/viewer/2022102800/56649cd65503460f9499cf55/html5/thumbnails/10.jpg)
Enter Into A Formal Service Agreement
• Contains Terms of Agreement• Vehicle Identification• Settlement Payment Agreement• Tax Escrow Option• Occupational Accident Insurance Option• Arbitration Agreement• On Line enrollment
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Terms of Agreement
• Own and pay expenses for your own Vehicle.• Carry W/C or Occupational Accident Insurance.• Self employed NOT an employee.• May provide services outside the co-op.
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Structure of DCN
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Structure of DCN
• Governed by member approved Bi-Laws
• Members elect board of directors• Board elects from membership the president and VP• Board elects secretary/treasure which can be outside membership• Board appoints Management Group
• Members meet once per year in October• Elect board of directors• Approve any changes to Bi-Laws• Review Financial statements of co-op• General interface with membership on the state of the co-op
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How to Proceed
• Complete the provided Organization agreement• Review the sample co-op enrollment packet• Consult with your attorney if required• Enroll online using the control code emailed you by the co-op
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Congratulations! You are now an owner member of DCN Distribution Cooperative Network of New York, Inc.
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Questions?