Food Shed Raises $1 Million in 7 Weeks!

Food Shed Co-op sets fundraising record for McHenry County - $1 million in 7 seven weeks.

The Food Shed Co-op Community Investment Campaign (CIC) reached $1 million in investments and donations this past weekend. Scott Brix, director of Communications said there is strong evidence that the capital campaign may have set a record for McHenry County for the most money raised/invested in the shortest amount of time. Enthusiasm has been high since the CIC launched on Sunday, August 15, 2021.  

The goal of the Community Investment Campaign (which ends Friday, October 15), is $1,750,000. The campaign’s success has been achieved by 171 people buying preferred shares of stock (which potentially pay dividends), 25 owner-member loans ranging from $10,000 to $52,000, and 56 significant donations made directly to the co-op or through the Food Shed’s fiscal agent for donors seeking a tax-deductible donation. The Food Shed has received donations from 6 states outside Illinois and one Canadian province. In addition, the Food Shed Co-op has raised over $625,000 from ownership shares and grants. The Food Shed purchased prime real estate with this initial funding where they intend to build the community owned grocery store. 

The Food Shed Co-op was incorporated in April, 2014 and currently has 1270 owner-members. Nearly half of all owner-members joined during the pandemic as global food supply chains  were interrupted and food security issues were often in the news. The co-op is a strong advocate for local farms using sustainable agricultural techniques. Owner-members also value supporting the local economy, providing access to healthy local food and protecting the environment by reducing the carbon footprint caused by the distance food travels to grocery store shelves. The store will be a model for sustainable living and help build a stronger, more resilient local food system.  The Food Shed is one of several food co-op startups in the area including Whitewater, Chicago, Rockford, Elgin, Racine, Rogers Park and Lombard.