PCC 2009 Annual Report
A message from your board
Your board is pleased to announce that 2009 saw your cooperative make gains in all aspects of its triple bottom line. For such progress to be achieved in such a difficult economic climate attests to the efforts of PCC's management and staff and to the loyalty of our members.
At PCC, we often speak of the balance that must be struck between financial success and environmental and social responsibility. It is true that devoting resources to one aspect of a business' operations may compromise its ability to succeed fully in another. It is equally true that any business that imposes broader obligations upon itself will face challenges unknown to companies that define success via a strictly financial bottom line.
But the board and management of PCC share the conviction that the measures of success that our cooperative has set for itself can be co-extensive — that achieving success in one measure can spur and foster success in another. 2009 bears out this belief. While other grocery retailers took steps to ride out the recession, PCC stepped up its investment in the value of membership and our communities. It returned more than $2.8 million in discounts to members, an increase of 7.8 percent over 2008. Through our Scrip program, PCC donated nearly $138,000 to schools and community organizations of members' choosing. Meanwhile, membership equity, that portion of our cooperative that is owned completely by members, increased 4.3 percent to $24.8 million. A recent audit confirms that PCC's financial and operational health continues its solid condition of recent years.
Your board is committed to building on this foundation of success. To ensure that we remain aware of developments and trends that affect the grocery industry and, more broadly, the welfare of our members and communities, we have selected two issues — the growing movement to re-regionalize our food system and childhood hunger and nutrition — for intensive study. We also recently revised our Policies to allow management greater discretion and authority to make financial and operational decisions.
We remain confident that, with your continued support, our cooperative's best days lie ahead. We thank you for the opportunity to serve you.
Chair, PCC Board of Trustees