Annual Report - FY2018

ANNUAL REPORT FI S C AL Y E AR 2018

WHEN YOU SHOP AT MISSISSIPPI MARKET, you’re making a difference in our community by supporting local and fair trade farmers and producers while contributing to a healthier, more sustainable environment. You are the reason we love coming to work each day — thank you for supporting your co-op!

YOU SUPPORT A STRONG, LOCAL ECONOMY

14,698 lbs. of LOCAL honey 118,272 lbs. of LOCAL cheese Nearly 40% of our products were LOCAL YOU SUPPORT A HEALTHY COMMUNITY

485,413 round ups and donated bag credits 204,086 egg cartons, glass bottles, and reusable bags returned for reuse

228 total employees, 74% at full-time YOU SUPPORT FAIR TRADE FARMERS & PRODUCERS

646,233 Equal Exchange fair trade bananas 48,796 lbs. of fair trade coffee beans

2 | 2018 ANNUAL REPORT

You are the Co-op Difference!

GAIL GRAHAM, GENERAL MANAGER

FROM THE GENERAL MANAGER Nearly 40 years ago, Mississippi Market was formed by people in our community who valued access to fairly priced, sustainably grown, healthful, delicious food that they could purchase in bulk to minimize waste.

Today, your co-op remains community owned and governed; every time you shop, you cast a vote with your purchasing power for our shared cooperative values.

nonprofits. To help make healthful foods more accessible to people on limited incomes, your co-op gave out $130,700 in LIME program discounts over the last fiscal year. Your co-op is also a strong partner with local food shelves and other nonprofit organizations. Together, we’re making progress toward a stronger local community and a more just and fair food system.

When you shop co-op, you help support a more just LOCAL food economy.

Thanks to the patronage of member-owners like you, our local farmers and suppliers continue to have a great place to sell their products, and you get access to fresh, delicious, local food. We are committed to supporting our local producers by bringing their products to market, but it is your purchases that keep them in business! Last year, nearly 40 percent of our products were from local producers or Minnesota-based businesses.

When you shop co-op, you help support sustainable solutions and a healthier environment.

Beyond the benefits to you and your family, organic agriculture has a positive impact on our planet and can help address climate change. Our buyers source the best organic foods possible to ensure you have choices that will please—from every department in our stores.

When you shop co-op, you help nurture community.

Our members and shoppers are incredibly generous! Last fiscal year, you collectively raised $136,130 through our Positive Change program at the registers, which directly supported a dozen local

The principles and values that guide your co-op make possible the economic, social and environmental impacts that set us apart from many of our competitors.

When you shop co-op, you make this better way of doing business possible.

We are truly stronger together!

2018 ANNUAL REPORT | 3

FINANCIAL SUMMARY

$30,425,422 TOTAL SALE S (2.08% LES S THAN F Y 2017) $63,167 AFTE R -TAX FY2018 LO S S (0. 2% O F SALES ) SALE S TO M E M BE R- OW NE RS

35

$ M ILLIONS

30 $26.99

25

$24.75 $22.36

20 15

$19.76 $17.84

74%

76%

76%

79%

TOTAL SALES

$31.60

$31.07

79%

79%

78%

2016

2017

2018

$28.69

80%

$30.42

77%

10 5 0

2010

2011

TOTAL MEMBER-OWNER EQUITY

$7.205 MILLION

2012

$8M

2013

2014

2015

FISCAL YEAR

TOTAL EQU IT Y

$7M $6M $5M $4M $3M $2M

2010 2011 2012 2013 2014 2015 2016 2017 2018

19,077 AC TIVE MEMBER-OWNERS, 1, 347 NEW MEM B E R- O WNE RS THIS YE AR $242,274 IN MEMBER-OWNER COUPONS RED E E M E D FO R DIS CO U NTS 4 | 2018 ANNUAL REPORT

Evolving to Meet Market Realities DEBBIE BROWN, BOARD PRESIDENT

FROM THE BOARD Unlike conventional grocers, Mississippi of CultureBrokers, with whom Mississippi Market is owned and governed by Market continues to partner to advance member-owners like you. Rooted our diversity, inclusion, and equity efforts, in principles that include concern for led both the board retreat and staff community, voluntary and open membership, We couldn’t do this work without you – economic participation, and you are the co-op difference! cooperation, food co-ops fundamentally benefit their local communities rather than serving to enrich a select few. Not sessions. Because of this collaboration, only does Mississippi Market embrace the co-op’s new mission better reflects the international cooperative values of our evolving cooperative values. self-help, self-responsibility, democracy, equality, equity and solidarity, we have Mississippi Market’s Mission our own set of value-based guideposts We are Mississippi Market, a food co-op in place. This includes supporting a that is open to everyone. We empower robust local economy, working for our diverse communities to: global sustainability and authentically engaging our Saint Paul community.

• be healthy, • make choices that help sustain our planet, and Earlier this spring, your board of directors • create a more just local economy. and general manager began the process of updating the co-op’s mission to align with current market realities — a fiercely competitive natural-foods industry and The co-op exists to serve our members; our increasingly diverse local community. it’s what sets us apart. We couldn’t This effort began at the board’s weekend do this work without you — you retreat in April and continued throughout are the co-op difference! From all the spring. Co-op staff were invited to of us on the board, thank you for share their feedback with the board continually contributing to a strong local through an online survey and at several community built on cooperation. listening sessions. Facilitator Lisa Tabor 2018 ANNUAL REPORT | 5

1,508 CLASS PARTICIPANTS took 104 DIFFERENT CLASSES. 541 PEOPLE toured the stores.

We sold 1,347 NEW MEMBERSHIPS. 256 PEOPLE became new LIME* Member-Owners.

LIME*Member-Ownership now totals 1,751.

In total, we are 19,077 MEMBER-OWNERS strong.

TOTAL SALES

$30,425,422 $23,778,040 78% TOTAL SALES TO MEMBER-OWNERS

OF ALL SALES

6 | 2018 ANNUAL REPORT

* Limited Income Membership Entry program

TOGETHER WE SPENT

$7,549,018 WITH 129 LOCALLY-

We raised more than

$136,000

OWNED COMPANIES & PRODUCERS

for 12 LOCAL NON-PROFIT

THAT’S

39.85% OF OUR WHOLESALE PURCHASES!

RECIPIENTS, including

18,548

dollars/pounds raised for area food shelves during the MINNESOTA FOODSHARE MARCH CAMPAIGN.

31,518

REDEEMED MEMBER-OWNER DISCOUNT COUPONS

$242,274

pounds of food donated and rescued, primarily donated to HALLIE Q. BROWN & MERRICK COMMUNITY SERVICES.

$5,455

in GIFT CARD DONATIONS to nearly 200 organizations.

$66,408 $27,228

in OUTREACH AND SPONSORSHIPS.

$130,700

TOTAL LIME* DISCOUNTS GIVEN

WITH YOUR SUPPORT, WE GAVE OUR COMMUNITY OVER

in support of MIDWEST FOOD CONNECTION teaching kids about healthy eating.

339,500

DOLLARS/ POUNDS OF FOOD.

2018 ANNUAL REPORT | 7

July 2017

August 2017

September 2017

$11,240

$10,653

$11,817

October 2017

November 2017

December 2017

$12,977

$11,504

$10,377

January 2018

February 2018

March 2018

$9,615

$9,507

$14,680

April 2018

May 2018

June 2018

$11,185

$11,161

$11,414

136,000

We raised more than $ in donations through reusable bag credits and rounding up at the register for 12 different LOCAL nonprofit organizations through our POSITIVE CHANGE program

$115,384

DOLLARS DONATED

85% Total Positive Change donations

$136,130

15% 207,457 ($20,746)

10¢ BAG CREDITS DONATED

2018 ANNUAL REPORT | 9

Co-ops keep your dollars right here in our local community.

For every $1 spent at Mississippi Market, $1.60 stays in our community.

3 S A I N T PA U L L O C ATI O N S

1500 West 7th Street Saint Paul, MN 55102

622 Selby Avenue Saint Paul, MN 55104

740 East 7th Street Saint Paul, MN 55106

7:30 am–9:30 pm

7:30 am–9:30 pm

7:30 am–9:00 pm

651-690-0507

651-310-9499

651-495-5602

msmarket.coop |

@msmarketcoop |

@msmarketcoop |

@msmarketcoop