Annual Report - Fiscal Year 2024 by Mississippi Market Co-op

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C E O R E P O R T

Catherine Downey

In July, we celebrated the milestone of being open for 45 years. It's hard to believe the changes that have occurred at the co-op and in the grocery industry since I started as a cashier at 1810 Randolph 30 years ago We have accomplished a lot over the past four decades, growing our impact on the local economy, strengthening our partnerships, and adding jobs to more neighborhoods in St. Paul, to name just a few.

This past year, we generated a modest profit and issued both a patronage dividend and a bonus for our hardworking and dedicated staff. Thank you to all of you for your patronage, which makes it all possible.

As we think about what success looks like in our future, it's filled with complex decisions Operating as an independent grocer is increasingly challenging. We need to position ourselves to meet the needs of consumers and employees, which means embracing innovative ideas and change. We need to be flexible and adapt to a rapidly changing landscape and will seek out opportunities that strengthen our cooperative economy.

In an increasingly divisive world, we will continue to strive to provide a place where we exist to welcome and serve everyone who enters through our doors, both in familiar and new ways.

Our focus this year will be completing a Selby store remodel that will include energy-efficient coolers and freezers, adding retail space to categories that are currently undersized, and an overall refresh that will improve the customer experience We have made changes in store layout and fixtures at our West 7th store, which continues to experience the most robust sales growth for the organization

Our East 7th store has been open since 2015, and we continue to look for ways to attract new shoppers and increase traffic and sales to that location. We have added more conventional products to that location in an effort to improve food access While some feedback has not been supportive of that decision, I encourage us to challenge our privilege and broaden our perspectives on what it means to be a community-owned grocery store

In an increasingly divisive world, we will continue to strive to provide a place where we exist to welcome and serve everyone who enters through our doors, both in familiar and new ways.

B O A R D R E P O R T

Molly Phipps

Mississippi Market is more than just a great grocery store, we ’ re a part of the international cooperative movement The cooperative ethos of putting people above profits and enriching the community, not the shareholders, has enormous power to uplift communities Money spent in the cooperative economy stays in the local economy through spending and investing in local farmers and vendors, other local cooperative ventures, and donations to local non-profits. The International Cooperative Alliance has established seven principles that guide cooperatives around the world in putting our values into practice. The Mississippi Market Board of Directors has been living the cooperative principles this year as we do the board's work.

We have been supporting Principle 6: Cooperation among cooperatives by re-instating the pre-COVID practice of local food co-op boards of directors meeting up for comradery and to discuss common issues and ways to work together to support the cooperative movement.

The cooperative ethos of putting people above profits and enriching the community, not the shareholders, has enormous power to uplift communities.

Three of us went to CCMA to learn from the experiences of other cooperators where there was lots of conversation about the role of food cooperatives in increasing food access, nurturing community, and more. When cooperatives work together across the sector, we all do better.

We’ve been demonstrating the cooperative principle of concern for community when we participated in Mississippi Market outreach events, including Stuff the Truck food drive for Neighborhood House, Lake Phalen Water Fest, Selby Jazz Fest and Fiesta Latina

We’ve also been working on improving our democratic member control by updating our policies, bringing efficiency to our meetings, and working toward a more culturally competent board of directors.

COMMUNITY IMPACT

Following the cooperative principle of Concern for Community, we work for the sustainable development and overall well-being of our community.

35,881 pounds of food rescued and donated to Hallie Q Brown, Twin Cities Food Justice and Merrick Community Services

$157,773 in Positive Change bag credits and round-up donations for 12 local nonprofit recipients

$48,704 in sponsorships and outreach, including support for local community gardens

18,920

ACTIVE MEMBER-OWNERS

1,035

NEW MEMBER-OWNERS

$3,657 donated in monthly food drops to nonprofit partners and Keystone Community Services

$6,856,407 spent with locally owned companies and producers That is 36% of our wholesale purchases!

754 participants attended a cooking or wellness class at the co-op

$154,362

2,301 TOTAL LIME DISCOUNTS

TOTAL LIME MEMBERS

$297,683

TOTAL MEMBER COUPONS

OF STAFF IDENTIFY AS BIPOC 34%

DONATIONS

Donated over 800 seed packets and 600 plants to Dayton’s Bluff Seed Library, Hallie Q Brown, West Side Seed Library, SAFA, and Youth Farm.

Invested $5,885 in sponsorships to the Overcoming Racism Conference, Juneteenth celebrations, Rondo Community Events, Wakan Tipi Awanyakapi, and Fiesta Latina.

Our Positive Change program continues to focus on the needs of racial justice and food access, and this past year featured organizations such as CLUES, Brightside Produce, Open Arms of Minnesota, RECLAIM, and Women of Nations.

THE SALES OF PRODUCTS FROM DIVERSE VENDORS TOTALLED

$3.4M

CLASSES & EVENTS

61% of all classes were taught by BIPOC instructors, bringing diverse perspectives and recipes to our co-op community.

2,050 people reached through outreach events in our store neighborhoods.

We created opportunities for growth and conversation through classes with Textile Arts of MN, Chelle's Kitchen, Wakan Tipi Awanyakapi, Urban Roots, Mixed Blood Theater, and Mosaic on a Stick

THANK YOU! Due to your generosity, we donated $157,773 to 12 local nonprofit organizations this year through our Positive Change program. That total includes 17,000 of the 10-cent bag credits, making it truly a grassroots community effort.