Presentation on theme: "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."— Presentation transcript:
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.
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
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.
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.
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.
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.
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
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
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
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.
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
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
Congratulations! You are now an owner member of DCN Distribution Cooperative Network of New York, Inc.