Old Creamery Seeks Matching Grants for Co-op
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A generous co-op member and longtime Creamery supporter has offered to match, dollar for dollar, all contributions received from now until Aug. 31, up to $20,000. This fundraising challenge was first announced on Saturday in Cummington at a benefit that featured Rachel Maddow of MSNBC.
The Old Creamery Co-op's fundraising effort is close to reaching its goal of raising $200,000 from individuals and $50,000 from institutions. All funds raised in response to the challenge will go toward business planning, co-op development, and the purchase of the business. Contributions made out to the Cooperative Development Institute for use by the Creamery Cooperative project are tax-deductible.
The conversion of the Old Creamery to a cooperative will include a renovation and expansion of the store and grounds, the purchase of the business from the current owners, and the recapitalization of the business to put it on a firm footing for the future. In addition to donations, over 420 individuals have already invested $150 each to be member-owners of the Old Creamery Cooperative.
The co-op conversion in Cummington has received national attention. The cooperative recently received one of only two $10,000 grants awarded in the nation this year, from the Food Cooperative Initiative, for the conversion of an existing grocery store into a cooperative.
On Saturday, Maddow expressed her support for the Old Creamery and for its conversion to a community-owned cooperative. She has previously referred to the Creamery as "the cultural heart of the hilltowns," and she repeated that assertion on Saturday.
She spoke to 250 people who packed the Cummington Village Church. After an hour and a half interacting with the crowd, the journalist and political commentator was pleased to know that her audience paid $9,000 to hear what she had to say, and to support the co-op transition.
"I don't do a lot of these kind of events, but I'd do anything for the Creamery," she said, munching a cookie made there.
For more information on the Old Creamery Co-op transition visit www.oldcreamery.coop.
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