The Isla Vista Food Cooperative has fundraised a total of $55,170, meeting its previously set goal of $50,000 by mid-may.

The I.V. Food Co-op has fundraised a total of $55,170, meeting its previously set target of $50,000 by the end of May 2025. Sherine John / Daily Nexus

The I.V. Food Co-op was able to reach this goal after it received a contribution of $20,000 from an anonymous community member who requested that the funds be used for coupons or gift certificates for community members, according to Noozhawk.

The Co-op has dealt with financial difficulties for the past two years, putting it at risk of closure. According to Co-op Board Treasurer Neal Singh, this issue is primarily due to a decline in sales from customers at the Co-op’s I.V. location.

At a Co-op emergency town hall meeting held on April 19, board members said the fundraising goal for the spring of 2025 was a sum of $50,000 by the end of May. This sum would be used to fund various operational costs. Their fundraising goal for the summer of 2025 was $150,000, which would be used to cover various expenses, including the decline in sales at the Co-op’s I.V. location.

At the Co-op’s most recent emergency town hall, held on May 15, Singh announced that the Co-op aims to raise a total of $500,000 for the year of 2025. This sum would be used to pay off $150,000 in loans, which the Co-op must repay by the end of 2025, as well as improving the Co-op’s balance sheet and operations. Additionally, the Co-op aims to raise a total of $500,000 for the year of 2026, which would be used to ensure the Co-op’s long-term stability.

In order to fundraise, the Co-op has turned to various sources for financial support, including high-net-worth individuals, charitable foundations, community members and state grant programs. 

According to Singh, the Co-op aims to attract donors by building philanthropic relationships through strategies including business planning and recruiting consultants with relevant expertise. At the May 15 emergency town hall, Singh said that the Co-op’s board members have been actively working to build philanthropic relationships to meet fundraising goals.

“These [fundraising goals] are clearly a lot of money and there’s no getting around that,” Singh said. “But the work we’ve been doing [in] the past month has been to really mine our personal connections and networks in our community for the amazing philanthropic support that is out there, and that support is being cultivated actively by the board.”

During the same town hall, Singh said that the Co-op’s fundraising goals aren’t just a “wishlist” but a “realistic” set of goals.

“We know what we need and where it would go. What we’re needing now is a collective will and support to fund it through donations, grants, partnerships and member outreach,” Singh said. “Our future depends on hitting these targets, and that’s where we’re coming to you all as part members of the community.”

A version of this article appeared on p.4 of the May 29, 2025 print edition of the Daily Nexus.