Thanks so much for making an investment in the Maple Corner Community Store. We are pleased to have you as one of our over 120 shareholders! We are confident that if all our current pledges pay in full, and new pledges keep trickling in, we will be able to close on the store by the end of December! Please send us your paperwork and checks as soon as you can. We hope to have all checks and paperwork by December 1st so we can schedule a mid-month closing.
If you are making a tax deductible donation the check should be made out to the Maple Corner Community Center (or just “MCCC”) with the word “Store” in the subject line. The check can be mailed to MCCC – PO Box 39, Calais VT 05648.
If you are buying shares, please fill out the Confidential Subscriber Questionnaire and the Subscription Pages. There is a copy of each form in the back of your Shareholder Subscriber Binder. If you need a new copy, you can pick one up at the store or download the full PDF by clicking below.
For Shareholders, your check should be made out to “Maple Corner Community Store” and mailed along with your paperwork to MCCS – PO Box 91, Calais VT 05648.
A few tips on filling our your forms:
If you wish to be a Shareholder, the last page in your shareholder binder is the MCCS Owner Checklist. It lists the three things you need to submit to us in order to be a shareholder. If you don’t have the shareholder binder yet, you can pick one up at the store or download the PDF.
Here are instructions for each form:
(1) Confidential Subscriber Questionnaire:
Each investor needs to submit a copy of this form. You’ll note there is only one copy of this form in your binder. If more than one person in your household are buying shares, you’ll need to make a copy of this form (3 pages), OR let us know and we can get your more copies. However, if you have two names on the same share purchase, only one of the shareholders needs to fill out this form.
This form asks for several pieces of personal information, including your Social Security Number. Unfortunately, this is a legal requirement of all shareholders as per IRS regulations. We need to have this information on file in order to issue your share certificate. We understand some people’s hesitation on this, but rest assured these forms won’t see the light of day. As soon as we receive them we lock them away in a locked file box and they will only ever used when we are dispersing dividends (at which point we’d need them for the required 1099 IRS filing). We will handle your personal information with the utmost of care. If you’d rather not give your SSN, you are welcome to switch your pledge to a donation via the Maple Corner Community Center instead of becoming a shareholder. Please let us know if you have questions on this.
This form also requires you to identify yourself as one of three investor categories. For anyone investing $10,000 or less, you can select Vermont Main Street Investor. For anyone investing above $10,000 but below $25,000, you should select Vermont Certified Investor. For those of you investing $25,000 or more, please select Accredited Investor. Note: There are no requirements to qualify as a Main Street Investor, though if you are selecting either of the other categories, please read the descriptions to ensure you qualify. If you have further questions on this form, please be in touch and a member our board would be happy to discuss the details.
2) Subscription Pages
Each individual shareholder must also fill out a copy of the Subscription Pages. We’ve included two copies of the Individual Subscription Pages, feel free to make additional copies if you have more than 2 individuals in your household purchasing shares. Each share purchased costs $500. The first share that anyone buys is an “A share,” entitling the shareholder a vote at meetings and the ability to run for a position on the Board of Directors. Each additional share purchased will be a “B Share” – or an equity share. This way, every shareholder has an equal voice in the business, but the more shares anyone buys the more equity they hold.
Note that there are spaces for TWO names on the Subscription Pages. It is acceptable to have two owners of a share or a group of shares, though please remember shared ownership is still limited to one vote.
If you have two names on a single share (or group of shares) you must select either “Joint Tenants with Right of Survivorship” or “Tenants in Common” – Joint tenants with right of survivorship means that you both own the property equally, and if one dies, the property is then owned by the survivor. Tenants in common means that you share ownership of the share, but can pass your portion of the share to someone other than your co-owner in your will. Please reach out if you have questions on this.
3) Payment Please include with your paperwork a check made out to the Maple Corner Community Store (or simply MCCS) for the entire amount of your share purchase. Your check will be deposited in our escrow account, and returned in the event we do not successfully complete the store purchase.
All checks and paperwork can be hand-delivered to any board member, or mailed to: MCCS PO Box 91, Calais Vt 05648
If you wish to make a tax deductible donation you can do so through the Maple Corner Community Center (MCCC). All donations will be pooled and used by the MCCC to purchase shares in the Maple Corner Community Store. In this way, the equity value of your donation will be held by the MCCC rather than by you. Any dividends due or equity value in event of the store being sold (HIGHLY UNLIKELY) – will be returned to the MCCC and not the donor.
To make a donation via the MCCC, please send a check payable to MCCC with the word “STORE” in the subject line to: MCCC PO Box 39 Calais, VT 05648
Please be sure to include your return address so we can send you a thank you note and tax deduction receipt.
Whether you make a donation via the MCCC, or purchase shares, your money will be held in escrow until the closing date. If for some unforeseen reason the sale falls through, all money will be returned to the investor/donor regardless of whether you buy shares or donate.
Final note: While anyone can donate any amount and shareholders are welcome to donate additional funds to the effort beyond your investment, shareholders can not claim a tax deduction for any donations.