Hampden Park Co-op Annual Report 2008

Posted Wed, 03/04/2009 - 12:05am
2008 2007 2006 2005
Department Income 2,019,940 1,812,621 1,678,399 1,595,619
Cost of Sales 1,349,993 1,212,498 1,092,056 1,058,675
Member Discounts 150,666 132,178 122,433 120,466
Gross Profit 519,282 468,059 464,184 416,832
Operating Expenses 503,041 459,868 456,404 407,290
Operating Ordinary Income 23,239 8,191 7,780 9,543
Net Income 11,786 17,470 9,878 (-13,241)
Co-op Net Worth 483,389 456,459 435,407 394,209
Inventory (wholesale) 110,355 121,268 119,531

101,829

Our fiscal year runs July 1 to June 30.

Department Income — the total rung through the register
Cost of Sales -- the amount HPC paid for merchandise
Member Discounts — discount given to volunteering members
Operating Expenses — includes payroll, utilities, supplies, credit card fees, etc.
Operating Ordinary Income — amount left after paying operating costs
Net Income — amount left after paying our expenses and adjusting our other income.

What a difference a year makes and how our future has changed. The renovation of the next door space and working with the Independent Order of Odd Fellows about potential ownership of the building are certainly wishes that many of our members have voiced in the past. The real possibility of this came last spring and many decisions needed to be made in a short period of time. Many more details [were] presented at the meeting.

One of the changes as a result will be the addition of a third cash register and a front end director whose focus will be faster customer service, assisting at the register, and helping with managing the new space. Our growth in sales requires this additional assistance.

We have had another first this year—having over $2 million in sales! Along with more sales are more expenses, as you will note.

"Local" has become the new buzzword. Again we have been way ahead of the game. Our mission, written many years ago focused on our store using as much locally produced food as we could procure. We have for the most part held to that mission in our purchases. We have had locally produced goods that do NOT sell and have not reordered them—price often the reason. Some products are seasonal.

I want to thank all of you who helped to make this a good year—volunteers, employees, shoppers, and our Board of Directors.

The board this past year was Jay Dregni, Karen Gill-Gerbig, Rosanne Rivers, Marcia Hanson, Sarah Matala, Gregg Richardson, Nicolet Lyon, Lisa Scribner, and Matt Hass. Thank You.

—Respectfully submitted by Helen DuFault, November 9, 2008