The FOOD CO-OP. OP We Otw

Transcription

1 ANNUAL REPORT 2008 The FOOD CO-OP OP n We Ow I! k on Januaryed InrodurcBags o Beans f January Six Weeks of Free s se Basic Cooking Clasn Sark ra Ar ih w in he Deli Take a momen o appreciae all ha we ve done ogeher as local member-owners in walk along our member services pah. Thanks for he Don Forge Your Bag sign. Good idea! - j.r.member-owner Reusable Bag Survey $6 Canvas Bags Beg Jan Foo an NC uary ds GA 15 ra N sa ining aura ff for l c g ba n i k 8 Loo 200 Member Services Lane ha ReXaXdXXpw X ers are X p o h s XXXXXg... saxyxixnx Suppor Local Farms February 5 NAI educaio signage inro nal duced February 21 Film in Annex One Man, One Cow, One Plane February 28 m ru on Sp sored Cen ncer Co or ns Balimore Co ndraiser Foodbank Fu

2 I recenly read an inerview wih Suds Terkel ha was prined in AARP Magazine shorly afer his deah las Ocober. Suds Terkel was alking abou he Grea Depression and his experience of i and is afermah and abou how hings are differen now because we have lived hrough he Civil Righs Movemen and he Sixies and have seen wha acivism can do. He was quoed as saying: The lessons of he Grea Depression? Don blame yourself. Turn o ohers. Take par in he communiy. The big boys are no ha brigh. Hope dies las Wihou hope, you can make i. And so long as we have ha hope, we ll be okay. As he naion s economic siuaion unfolds, we have a lo of foundaions for hope here in Jefferson Couny. Our climae and ferile farmland and our enacious susainable farming communiy offer grea promise ha we will coninue o have good hings o ea. Our acivis communiies coninually offer ways o ge involved in each ohers effors and in our collecive lives - for he beermen of us all. A he very cener of all ha goodness sands our Food Co-op. Over his pas year, he Co-op increased is sales volume and added members, which has allowed us o add o an already subsanial cash reserve, even afer performing necessary mainenance on he roof and he parking lo and afer adding adminisraive space near he Co-op on Clay Sree. So he Co-op is in he enviable posiion of being fiscally sound as we decide how o respond o he effecs of he economic urmoil. Hope Dies Las Seve Moore, Board PresidenOver 200 Bu he real value of he Co-op is rooed in wha Suds Terkel was alking abou in urning o ohers and aking par in he communiy and in supporing hope. This communiy cener is wha is missing in much of our culure; he world can be a prey frighening place wihou a communiy o urn o. In our Co-op communiy, we creae an enire markeplace ha can provide every kind of opporuniy we migh need o see each oher, o alk o each oher, o debae each oher, o sell o and buy from each oher, o each and o learn from each oher. No everyone wans he same hings from he Co-op nor brings he same hings o i, bu everyone belongs o his markeplace and has he opporuniy o paricipae as hey choose. As I look forward o he coming year, I am sure we will have our challenges and disappoinmens and I am sure ha we will pull ogeher and suppor each oher as a communiy in spie of or maybe even because of hem. I am also sure ha The Food Co-op will serve as a very acive and engaged caalys in susaining us all. A leas ha s my hope. cash sash sudens oured our sore April Our Kids Our Business P.T. Chamber of Commerce sponsor for he monh of April March 1 Marko Colby Fermenaion Class March 3 and 31 Cheese Making Classes Boh wih waiing liss! March 5 Local Growers Workshop - 33 Local Farmers Aend I live over by he Hood Canal Bridge. I only shop a he Co-op! One: I love his sore! Two: I is so much more inexpensive han (anoher sore). I love he choices here a he co-op and wan o suppor local farmers and my co-op! Thank you for doing such a grea job! - K.B. Member-Owner 15,000 Newsleers Disribued 2

3 April 16 Bigges Member Appreciaion Day Ever! April WSU Maser Gardeners in-sore advice membership daa Bylaws Aricle II Secion 2: Defines acive voing member as paid-in-full or paid Capial Invesmen (CI) for ha monh. April 19, 20 Hosed NWCDC workshop How o Sar a Co-op May 8 Co-op/Equal Exchange Fair Trade even P.T. Communiy Cener Asse $ wihou Liabiliy = Member Equiy member equiy as % of asses Over 34 cens of every sales dollar spen a The Food Co-op circulaes righ back ino our local economy. local expendiures Rhody Bed Race Spiri Award goes o he Co-op Compos Cruisers Go Cruisers! Local farmers & producers $541,641 $525,427 $560,115 $614,194 $663,904 Local disribuors & services $692,167 $663,718 $725,258 $778,111 $913,028 Saff wages $1,540,111 $1,650,931 $1,752,962 $1,889,385 $1,911,544 Saff vacaion (paid ime off) $69,307 $86,020 $92,641 $99,544 $126,692 Donaions & discouns $55,984 $53,367 $47,410 $46,506 $56,300 Ineres on member loans $34,570 $13,453 $10,072 $6,800 $5,800 Toal local expendiures $2,933,780 $2,992,916 $3,188,458 $3,434,540 $3,677,267 % of annual sales 35.9% 34.0% 34.2% 33.8% 34.1% Annual Sales $8,166,804 $8,793,501 $9,326,925 $10,170,073 $10,787,304 Local Farmers & Producers Purchases as % of annual sales 6.6% 6.0% 6.0% 6.0% 6.2% WSU Maser Gardeners served 388 Member-Owners in he sore. May 20 Annual Meeing J.C. Fairgrounds December 5 Earhcare wih Hear even sponsorship May 29 Free Consulaions in Deli wih Regisered Nuriionis Charlie Sandell 3 Our 4h rip o P.T. and we keep coming back o he CO-OP! The sore is easy o use and I like he signage for locally grown produce. My husband comes for he morning oameal. - C.S. Tampa, FL May 29 Sevenson Middle School Sore Tour

4 June 8 Sponsored For-2-For Bike Ride Fundraiser Recession? So how is he Co-op doing? Briar Kolp, General Manager Las year he rumors of a pending recession were building and by he fourh quarer, in many people s minds, i had arrived. The news was filled wih all kinds of economic sories from companies reducing work hours, closing a day each week, laying off employees, and, yes, closing for good! % sales growh from prior year 6.1% Banks were being bough ou, crumbling under heir own operaional pracices. So much so ha in 2009, FDIC insured is evolving from Federal Deposi Insurance Corporaion o mean Families Defying Insiuionalized Cash! As many reurned o banking by maress, one could go so far as o say ha he Sleep Number Bed may replace brick and morar banks. 9% 6.1% ne profi as % of sales $207,246 $200,231 $ 79, Faciliy repair expenses > $100,000 sale sysem, and furnished he new Clay Sree offices, reducing our ne profi (see ne profi as a % sales graph). The recession did hi home when we decided o reduce he amoun of he year-end bonus from he amoun of he mid-year bonus paid o saff in Augus (see bonus paid annually graph). This reducion in bonus was due o fourh quarer declining sales and uncerainy in he markeplace. Operaionally, he Co-op performed quie well in 2008 in spie of fourh quarer declining sales and increased coss in raw wages, paid-imeoff earned, and healh benefi premiums (see respecive labeled graphs). Con. on page 5 July Began offering Free Naural Foods Classes for Member-Owners Salmon Suppers wih InSeason June CCMA Conference Hosed Washingon Regional Co-ops Caering (yum) I s no wonder so many Co-op owners are asking me, so how is he Co-op doing? My firs response is ha we are hankful for he loyaly of our owners. Even wih he fourh quarer aking a bi of a nose dive, we ended las year wih a 6.1 increase over 2007 (see % sales growh graph). However; a he end of he firs quarer of 2009 we are down 3% compared o he firs quarer in bonuses paid annually Bonus reducion due o recession The good news is: we have been saving money over he pas eigh years, so he Co-op is in a srong cash flow posiion (see cash sash graph page 2). In 2008 we planned on major repairs o he roof and parking lo, of which over $100,000 was expensed, we finalized he insallaion of a new poin-of- Couryard Music Howly Slim, Eldon Sleigh, Chuck Eason, Rhyhm Plane, Audaciy, Emaline Delapaix, Mike Mullin, Raven, Underskore Okesra, Rex Reed June 4 Gran Sree Elemenary School Sore Tour 40+ 2nd graders This is a grea co-op. Fanasic selecion of fresh produce, grains, bakery iems, saples... - Marie B. Silverdale June Raw Foods Classes in Deli

5 July Board Training wih CDS P.T. Yach Club Augus 8-10 Jefferson Couny Fair Cooper Card Raffle I love his place, and always visi whenever I go home o Washingon. Julia C. Sep 1-23 Emergency Prep EP Sepember 21 Sponsored WSU Farm Tour labor $ as % sales annual employee hours Consisen benchmark performance Briar Kolp, General Manager con. from page 4 We have been very forunae o have experience and longeviy wih saff; however, wih ha comes higher wages and a greaer number of employees receiving benefis. raw wages per year Employee longeviy Marke value wages The effeciveness wih which we worked in 2008 and he changing imes is demonsraed by he saff performing wihin benchmarks (see annual employee hours and labor $ as a % of sales graphs). I believe i can be said ha in 2008 we mainained financial sabiliy and coninued o operaionally perform o a high sandard while also compensaing he saff well. To see even more value in your local ownership of he Co-op read his enire repor and ravel on he Member Services Lane. Thank-you for your ownership. Increase due o saff reenion and higher premiums healh benefi coss paid ime off Increase due o saff reenion 5

6 Sepember Free Bike Clinics Begin Sep 9 Pickled Veggie Class Sep 11 Jeffrey Smih The World According o Monsano GMO Presenaion Ocober P.T. High School Sore Tours 125 sudens I was visiing from ou-of-own...hank you for your vegan opions! Keep i up! -Meg Ocober 4 Sponsored Land Trus Rainfores Aucion Graphs by Sally Lovell, Senior Accounan Board policies require an independen CPA firm o conduc a financial review every year and o conduc a more deailed audi no less han every hird year. Year 2007 was an audi year. The Board hires he CPA firm and CPA findings are repored direcly o he Board. The Por Ludlow CPA firm of Glessing and Associaes performed he financial audi. Copies of he CPA audied financial saemen are available on reques. THE FOOD COOP Profi & Loss Summary for 2008 Year End SALES: COST OF GOODS SOLD GROSS PROFIT / MARGIN % 10,787,304 6,773,575 4,013, % 37.2% Wellness Chill & Frozen Beer, Wine & Non Food sales 2008 Produce Bulk & Special Order OPERATING EXPENSES: Toal Personnel Toal Occupancy Toal Sore Operaions Toal Adverising & Oureach Suboal Board Suboal General Admin TOTAL OPERATING EXPENSE NET OPERATING INCOME TOTAL OTHER INCOME (EXPENSE) Federal Income Tax Exp NET INCOME (LOSS) AFTER TAXES 2,732, , ,363 88,284 46, ,571 3,903, ,623 (3,420) 27,499 79, % 3.5% 3.1% 0.8% 0.4% 3.0% 36.2% 1.0% 0.3% 0.7% Food Services credi card fees Package Grocery Our cos o use plasic: Cooper Card-no fee Debi Card-$ fee Credi Card-$$$ fee I s your choice THE FOOD CO-OP BALANCE SHEET 12/31/08 ASSETS Toal Cash 955,249 Invenory & Receivables 398,384 Toal Curren Asses 1,353,633 Land, Building, Equipmen Toal Asses LIABILITIES Toal Curren Liabiliies Toal Long Term Liabiliies Toal Liabiliies 2,362,517 3,716, ,083 1,513,875 1,998,958 fee as % of sales In 2008 Our use of plasic cards increased and... we negoiaed lower fees Reained Earnings Capial Invesmens Toal Member Equiy Toal Liabiliies and Equiy 1,167, ,526 1,717,193 3,716,151 6

7 Ocober 12 Apple Fesival Thank you for pressing apples a he Apple Fesival. Wha a grea deal for my apples! Linda, Member-Owner Ocober is Fair Trade Monh PSE Energy Rebae $2,976 elecric & waer Appx 72,000 gal/ yr of waer oal represens filered waer sales o our shoppers gallons of waer per year Ocober 16 Member Appreciaion Day Energy Smar Grocer Rebae $ May 07 - Insall wo poin-of use ho waer heaers Aug 07 - Insall addiional landscape imers Oc 07 - Insall dual flash, low flush oiles Aug 08 - Insall waer saving sprayers in produce and mea deparmens One of he bes co-op s I ve been o in wesern Washingon. - Cody F. Seale WA gallons of propane per $1000 in sales annual cubic yards of rash Ocober 26 Farmers Marke Harves Dinner Our increased propane usage in 2008 is due o colder days and greaer need of Reznor heaer a receiving door As of 10/07 we los our resource for recycled/ reused waxed cardboard 7

8 Thousands of dollars, one bean a a ime... Farm Flood Relief Food Bank Landworks Jefferson AIDS Boiler Room Sunfield Farm Habia for Humaniy Olympic Mounain Pe Pals Gahering Place MASH Friends of he Fields Big Brohers Big Sisers NAMI Jumping Mouse Bags Nickles $ Beans , $6, , 4 $1 l Co-op Toa muniy Com aions Don aions of Sore don 5.03 $7,49 3 local made o 6 ofi non-pr ns io organiza 416 urkeys sold in December BEANS FOR BAGS DONATIONS Local Far mers Phoo/B io Projec is well und er way... Reused bags are convered o nickles which are convered o beans which are convered o dollars for local area non-profis! November mber 13 Nove Side Healhy Menu for he Fuure Dish Class Inro Class in he Deli 2008 on bou, a d e s is rav Healhie.. p o. l. his co see why of rave.. a w h es. I uff. nhs d kno ravel si afer mo, local s l u o sh ce You l inerne breakfas g produ m AK a e r n seve expensiv - amazi eler fro v leas ly saff -Tra d frien s! k han g display is in n e d r a g Organic ely awesome! absolu - M.J. 8 Kai Tai Wreah Aucion