Annual Report - 2007

Posted Sat, 12/01/2007 - 8:00am
2007 2006
Department Income 1,812,621 1,678,399
Cost of Sales 1,212,498 1,092,056
Member Discounts 132,178 122,433
Gross Profit 468,059 464,184
Operating Expenses 459,868 456,404
Operating Ordinary Inc. 8,191 7,780
Net Income 17,470 9,878
Co-op Ne tWorth 456,459 435,407
Inventory (Wholesale) 121,268 119,531

 

Department Income the total rung through the register.
Cost of Sales the amount HPC paid for merchandise.
Member Discounts discount given to working 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.

Note: Our fiscal year runs July 1 to June 30.

This past fiscal year has been another positive year for our co-op. We accomplished the store improvements that we mentioned at last year’s Annual Meeting—the new walk-in cooler and freezer. We made the space as large as we could. We are especially relishing the space in the new freezer area with the extra elbow room.

We are sorry to report to you that our “sister” co-op, North Country, closed for business in early November. We will welcome any former members of North Country who wish to make Hampden Park their new home. We are now the only co-op that uses volunteers to the extent that we do. Thank you for your interest, your participation, and your enthusiasm.

I believe that the sense of community we experience is good for the over-all community. We continue to maintain the co-op principles and this is a reason to be proud. Our motto should be “small is beautiful.” We anticipate being around as a community meeting place for a long time. With your support that is a reality we can achieve.

We are meeting our mission of having local produce available as much as we can. This year we bought a lot of veggies from Wisconsin Growers; Matt Aamot of Wisconsin Growers was our featured speaker at the Annual Meeting. We consider it a privilege to work with these growers and look forward to next year.

Our sales continue to be up at a manageable level. We have been able to keep expenses within reasonable bounds.

Thanks to all of you who helped to make this a good year—volunteers, employees, shoppers, and our Board of Directors. Board members this past year were Jay Dregni, Karen Gill-Gerbig, Roseanne Jones, Marcia Hanson, John Holmquist, Gregg Richardson, John Rogers, Lisa Scribner, and Matt Hass.

Respectfully submitted by Helen DuFault, November 10, 2007