In 2018, the Board’s primary focuses included:

• Professional rebranding
• Updating the website
• Continued development of organizational capacity
• Business development strategy in alignment with the Food Co-op Initiative startup model
• Creating a strategic planning roadmap

 

2018 Financial Update

 

Check out the graphs below to get a feeling for HFC’s sources and uses of income during 2018.

 

Income

• Donations/Fundraising: $825.50
• Processing Fees & Interest Earned: $238.78
• Member-Owner Equity Shares: $15,640.00

Total Income: $16,705.00

 

Expenses

• Operating Expenses (includes business registration, tax liability, insurance, facility rent, & communication expenses): $4,649.15
• Programming  (includes Outreach activities and Annual meeting expenses): $3,154.81
• Re-branding (includes graphic design, website, and elements of the brand guide): $9,067.81
• Professional Development (CBLD 101): $775.00
• Charitable Contributions (SNAP Match): $515.00

Total Expenses $18,161.77

 

Assets

• Total Assets as of 12/31/2018 : $49,668.88
• Equity Share Reserves (50% of paid): $36,511.50
• Cash Available: $13,157.38

2019 Plans

In 2019, the Board plans to:

• Satisfy initial market feasibility and financial feasibility requirements to better understand business feasibility
• Strategically increase membership growth with the help of a professional consultant
• Develop a draft of initial pieces of the HFC business plan

You can view a complete development timeline and goals on our website.