Is Flying Bike a non-profit?

Yes and No. Flying Bike is incorporated under the Washington State Nonprofit Miscellaneous and Mutual Corporation Act. However, we are not considered a non-profit under federal law, and thus, contributions to Flying Bike are not tax deductible. Flying Bike will not be profit-driven. Some businesses exist to earn a profit for their owners. Cooperatives exist to provide a service to their owners. A well-run Co-op needs to be able to earn a modest profit. This profit allows the Co-op to invest in the growth of the business to better serve its member-owners, to invest in the community, or to take other actions consistent with its mission. Additional profit that results from members’ patronage will be refunded to them. A portion of this refund will be in cash or vouchers. The balance may be in increased equity in the Co-op. The Board of Directors working with all the member-owners determines these actions.