What is the Annual Purchase Requirement?
Shareholder must pay the Annual Purchase Requirement (APR) each year. This obligation is $200 for each season, you should receive an invoice in August for the following ski season. Any increases in the APR in future are limited to changes in the Consumer Price Index (CPI) inflation rate. The APR is due on October 1 of each year and can be applied to nearly every product and service on the mountain. Since it can be spent on season passes, day tickets, food, ski school clinics, rentals, repairs, in the retail shop and on many other services, it does not represent an additional expense for most shareholders.
Can I sell my share?
Yes, you can sell your share(s) at anytime. However, you must sell them back to the Cooperative. The Co-op will limit the number of shares we buy back in a particular fiscal year to the number of shares sold that year. You will receive the value of the share, not to exceed your purchase price, within 30 days after the end of the fiscal year. There is a $100 processing fee for tendering a share. If you are considering tendering your share we encourage you to consider transferring your share to a Preservation Certificate. By doing so, you will help the mountain maintain its cash reserves while releasing you from your APR.
What is a Preservation Certificate?
The Preservation Certificate is a great way to support the mission of the Mad River Glen Cooperative without the obligations of ownership. Through the purchase of a Preservation Certificate, any individual, group or business – no matter where they’re located – can help preserve and protect Mad River Glen. Certificates can be purchased in $500 increments and may be applied towards the conversion of a regular share at any time. Preservation Certificate holders are not required to pay the Advanced Purchase Requirement, but receive no shareholder discounts and have no voting rights.
How many shareholders are there?
About 2,150 shares have been sold to approximately 1,700 individuals.
How many shares are available?
The Cooperative is allowed to sell up to 3,000 shares to 2,000 individuals, meaning that we will run out of individuals before we run out of shares. If the Co-op elects to sell any more shares beyond that point a bylaw change would need to be passed by the shareholders.
What’s the Story with Mad Money?
Our Co-op structure requires us to track the spending of our shareholders. That is why we have Mad Money. Mad Money should be purchased for any transaction shareholders make on the mountain. If you do not purchase Mad Money for your on-mountain purchases, we can not accurately track your spending. This will affect any potential patronage rebates authorized by the board in good seasons. Mad Money is also a valuable management tool for determining the actual spending of our shareholders as differentiated from the general public. Shareholders should be aware that it is important that they identify themselves when making purchases in the ticket office and at the Ski School Desk.
If you have leftover Mad Money from the previous season that is not part of your Advanced Purchase Requirement (i.e. purchased above and beyond your initial $200), you can return it to the office for credit for the next season. The Mad Money must be returned by September 30. This credit cannot be used to satisfy the next season’s Advanced Purchase Requirement, but we will issue you new Mad Money, which can be spent on the mountain next season.
Any Mad Money that is part of this season’s Advanced Purchase Requirement must be spent by September 30.. After that date it expires and can no longer be used. If you have any questions about Mad Money please be sure to give the office a call.
Do I Need a Shareholder ID?
If you are a shareholder who does not opt for a season pass you should come into the ticket office and have your photo taken for a Shareholder ID. This will enable you to receive your discount at the General Store retail shop and will identify you as a shareholder in good standing when making purchases.