Preferred shares represent ownership in a cooperative, and have a priority claim over common shares on the company’s assets and earnings. The shares are more senior than common stock but are more junior relative to senior debt in terms of claim on assets. Holders of preferred stock are also prioritized over holders of common stock in dividend payments.

• A-Shares – Owners can purchase 10 or more shares of Class A nonvoting, preferred shares at $1,000/share, earning a potential dividend of 3%.
• B-Shares – Owners can purchase 1 or more shares of Class B nonvoting, preferred shares at $1,000/share, earning a potential dividend rate of 2%; their terms are otherwise identical to A-shares.

A- and B-shares must be viewed as patient, non-liquid investments, as any future payment of dividends or redemption depends on the Co-op’s long-term financial performance and remains subject to final approval by the Board of Directors of the Co-op. 

Investors do not have the right to demand early repayment of the face amount of the shares, and Open Harvest is not required to make payments of the face amount prior to December 31, 2034, and even then the face amount payments are at the discretion of the Board of Directors. Preferred Stock is a long term investment.

The Co-op currently anticipates issuing dividends on all A & B shares on an annual basis but retains the ability to defer payment in any given year in the sole and absolute discretion of the Board of Directors. If dividends are not paid, they will accumulate for payment at a later date as decided by the Board of Directors of the Co-op in their sole and absolute discretion. 

As a small-business venture in a community that competes with other local and national branded grocers, there is a material risk that the venture may fail.  It is important for all investors to understand that there is NO GUARANTEE about when the cumulative dividend may be repaid, nor is there any GUARANTEE about when the owner investors may be able to sell their A-shares or B-shares back to the Co-op, and preferred shares should be viewed as a long-term, patient investment.

 A-shares and B-shares cannot be transferred or sold to any party other than the Co-op, without the express written consent of the Board of Directors of the Co- op. A-shares and B-shares cannot be redeemed until authorized by the Board of Directors.

You will need to work with your lawyer to carry out your wishes via estate planning. Your preferred shares could be handled in the same manner as your other assets. Should you desire to transfer them to another person, who is eligible for membership, a request for change in ownership could be submitted to the Board and handled accordingly. Requests for equity transfers due to death will be carefully considered by the Board, on a case-by-case basis. Redemption will be handled as a separate action, per Board discretion and approval. Alternatively, your preferred shares could be donated to the co-op.

To be considered an Owner in Good Standing and receive full benefits of Ownership, including the right to vote, attend the annual meeting, and the right to run for Board, you must uphold all owner responsibilities including:

• Shop annually at the co-op
• Pay annual equity
• Keep contact information up-to-date
• Abide by co-op bylaws and articles

If you are unable to meet these owner responsibilities for any reason, your status will become inactive. Members who are inactive remain stockholders (holders of common stock, any additional paid-in equity, and preferred shares) without the right to vote. Accordingly, preferred share dividends will still be issued per Board discretion.

We received $200,000 in member loans from 85 dedicated members for the 2009 Expansion Project. We do not plan to receive loans from owners for this project, as owner equity provides more leverage for the senior debt that will also be necessary to fully finance a successful project. Preferred shares are truly the best financial offering for the co-op at this time.

The first step in becoming an Open Harvest shareholder is to thoroughly read the Owner Investment Packet. This packet contains required disclosures of investment risks and financial projections. After careful review of the Owner Investment Packet, contact us at invest@openharvest.coop . We will confirm the details of your investment agreement and prepare  and send your form back to you – either via electronic or paper copy –  for your signature. 

No, you cannot buy shares with a credit card. The fees associated with credit card processing at these dollar amounts make it an unreasonable form of payment. We accept checks (not ACH). 

You can make a donation in any amount, facilitated by the Lincoln Community Foundation. All donations are tax-deductible.

Through The Lincoln Community Foundation. LCF is a 501(c)3 nonprofit organization. Donations made to Open Harvest through the Lincoln Community Foundation are tax-deductible. Check with your financial advisor or accountant for details on how making a charitable donation may affect your individual tax situation. Proceed with a donation here. 

The parking lot surrounding the Allo Building has approximately 220 parking spaces that are shared among four building tenants and the city ball field to the east. In addition, there are 56 parking spaces located to the north of the immediate parking lot. We are working to secure exclusive parking rights to the spaces immediately outside our front doors, adequate for the square footage and use of our space. For comparison, our current location has a total of 100 parking spaces for the existing tenants of the South Street Plaza.

Open Harvest has been working with G2G Research Group to conduct site evaluations and sales forecast analysis. More in-depth information from these evaluations can be found in our Owner Investment Packet.

The goal is to be in the new store by 2024!

We have executed a Letter of Intent to Lease (LOI) with real estate developer Speedway Inc. Open Harvest and Speedway will work toward the execution of a definitive agreement where Open Harvest will lease approximately 10,000 square feet of retail grocery store space in the Telegraph District, in the historic Allo Building at 330 S. 21st Street, Lincoln, NE 68510. In the event this location does not work, investments may be held for another location.

In relocating, the Co-op will remain in the core of Lincoln and will continue to provide the community with access to more fresh, local and organic products, and grow the market for sustainably produced food. The relocation of the Co-op will also provide an updated shopping and dining experience, with greater product selection and improved parking.

Thanks for asking! We welcome ALL forms of aid and assistance with regard to this campaign. You can help by:

• Encouraging your friends, co-workers, and neighbors to join the Co-op and invest
• Shop at the co-op!
• Volunteering to be an active part in the Owner Investment Campaign –we need people to make fundraising calls and potentially assist in other areas.
• Liking and sharing our social media posts, and spreading the word any way you can!