"The co-op has weathered the challenges of 2021 well because our dedicated staff have been incredibly resilient. They have endured the personal risks required of frontline workers to ensure the community has access to healthy food. We are grateful for what all of our employees have done, and continue to do, to navigate our co-op through these extremely challenging times."
"Cooperatives are in a season of reckoning. Cooperatives can and should be places of abolition. Being a leader in the cooperative sector, Seward Co-op has taken on the challenge to become an anti-oppressive business. As co-op owners, we look to the enterprise or business to provide just and healthful food that supports the planet and people."
2021 Financial Summary
Fiscal year 2021, which ended on June 30, was a year marked by continued challenges of the COVID-19 pandemic. The co-op’s financial position was materially impacted by disruptions to our business resulting in a significant operational loss. Carryovers from 2020 included an insurance claim for closures during the civil unrest in June 2020 as well as the forgiveness of the Paycheck Protection Program (PPP) loan. Additionally the co-op tapped into the Employee Retention Credit (ERC) for the last two quarters of the fiscal year. Once again in 2021, the co-op was successful in maintaining higher levels of employment than our sales justified. We were able to navigate the disruptions without laying off any employees.
The summary financial statements have been audited by Mahoney, CPAs.
A complete copy of this audit is available to owners upon request.