Ten Year Letter
Dear Member-Owners,
On December 10th, 2024, the Portland Food Co-op will celebrate our tenth birthday as a retail store!
Ten years ago, our Co-op borrowed $1.31 million from institutions and Member-Owners so we could open our retail store. Since then, we have transitioned from a small buying club into a thriving, member-owned marketplace that strengthens the local food economy while building and nourishing our community.
The Board is thrilled to announce that in November 2024, our Co-op repaid the last Member-Owner and institutional loans and we are nearly debt free! Repaying the Member-Owner loans was extremely important to us and has required careful financial stewardship and an emphasis on diligently monitoring our income and expenditures and consistently prioritizing loan repayment over the last decade. This is an important milestone for us and we are grateful for the generosity and support of all our Member-Owners. We would not be where we are today without you.
With the tremendous leadership of our General Manager John Crane, and his outstanding team, our Co-op nourishes our community by regularly donating to and sponsoring dozens of local organizations and events. Many of you will be familiar with the Register Round-Up Program, which allows our shoppers to round up their grocery bill to the next dollar and donate to local nonprofit organizations, which are chosen by our Member-Owners. Since 2019 we have raised more than $239, 000 for local organizations. In the last year, we donated $76,560 to combat food insecurity and nourish our local community. A further $10,600 was donated to support immigrants who add tremendous value to our community. Finally, we helped to build our community by donating an additional $47,482 to a variety of local organizations that support the vulnerable and marginalized. In short, our Co-op has become an essential part of the community and our Member-Owners’ investments and patronage allow us to make these substantial impacts.
We look forward to our next ten years and are eager to expand our Co-op’s role in our local communities. We are also hopeful more Member-Owners will become involved in board work.
Whatever level of engagement interests you, we believe board work promotes a sense of ownership and belonging in our co-op community. The Board appreciates the opportunity to serve and hope that many of you will consider becoming involved in the future. As always, please feel free to reach out to the Board at board@portlandfood.coop.
In cooperation.
The Portland Food Co-op Board of Directors