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March, 2005
food drive
finance report
wish list
Food Drive
The Market will host a food drive from March 1 to April 30,
to aid the South Royalton Community Food Shelf. Consider dropping
an item or two in our donation box every time you visit the
store! Ask our cashiers for details.
The Market will match members’ contributions
at 100%, and thus double the amount of
groceries given to the Food Shelf. In addition, our food drive
will be part of a national effort to
alleviate hunger, according to a letter sent to the Market
by Sue Richards, the Administrator of the South Royalton Community
Food Shelf:
“For the eighth straight year, Alan Shawn
Feinstein will divide $1 million among hunger-fighting agencies
nationwide to help them raise funds during March and April.
“The more of a donation donors make to
our agency from March 1 through April 30, the more of the
Feinstein money will be added to their donation!
“The million dollars will be divided proportionally
among all agencies complying with the guidelines (with a maximum
of $50,000 going to one agency.) Feinstein’s past $1
million challenges to fight hunger have raised a record $350
million for agencies nationwide. Your donation toward this
campaign makes you partners in the most successful grassroots
campaign to fight hunger!”
Finance Report
The final numbers for 2004 are in! Sales totaled
$803,834 (for comparison, sales in 2003 totaled $696,429).
The Market generated a net income of $18,711 after depreciation,
but because we had a Net Loss Carry Forward of $27,276, we
had no tax obligation.
Sales rose about 15% between 2003 and 2004,
and gross profit was also up by 15%. Our margin – a
figure we use to gauge the store’s efficiency –
was almost identical to 2003’s, at 29.76%. All signs
point to a healthy operation, and continued good management
under Peg Grote.
The Board has discussed how long the store can
maintain such outstanding growth, due to our limited shelf
space. We’re also looking at the possibility of needing
to pay taxes for the first time, as our increased net income
could very well exceed our Net Loss Carry Forward in 2005.
The balance sheet shows a total of $32,900 in
the bank, part of which can be used to repay loans due this
year. In one more sign of good management, our Capital Account
is significantly larger than the amount we’ve invested
in property and equipment.
Wish List:
Small Dustbuster Vacuum
Canister Vacuum
Shop Vac
Knife Sharpener
If you would like to donate any of the above
items to the Market, see Peg Grote during normal business
hours.
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