POTSDAM — The Potsdam Food Co-op held its annual owner meeting on Wednesday, March 19, at the Potsdam Town Hall, where new board members were elected, fiscal progress toward profitability was presented, and updates on the Co-op's building expansion were shared.

Acting General Manager Jessie LaRose highlighted the Co-op’s strong financial performance, reporting that it generates $1,156 in sales per square foot of retail space, well above the national grocery industry average of $500.

While the Co-op reported a net income loss of $26,000, LaRose emphasized that personnel expenses have been controlled, resulting in a $64,315 improvement to the budget. Personnel costs have decreased to 30% of sales in 2024, down from 32% in 2023 and 39% in 2022. The 2025 budget will further reduce personnel costs to 27% of the operational budget.

LaRose also noted that 13% of the Co-op’s total sales, or $195,000, comes from local farmers and producers. She mentioned several new vendor partnerships for 2024, including My Sister’s Kitchen, Katie’s Kitchen, Earthbound Bakery, The Blue House Sushi, and Earthstone Handmade Goods.

Owner membership continues to grow, with 1,165 member households as of January 2025. LaRose shared that 70% of the Co-op's sales were made to owners and emphasized that non-owners are always welcome to shop, with special benefits and discounts available to owners. She reported a slight decline in weekly foot traffic from 1,170 in 2023 to 1,092 in 2024, while average basket sales continued to increase. Grocery remains the largest sales category.

When asked about the Co-op’s progress toward building a sustainable local business, LaRose remarked, “We’ve had many loyal members since the Co-op’s founding in 1973. We’re still serving our loyal patrons while adding new products and programs for the next generation of Co-op shoppers.” She also highlighted initiatives like a potential Sunday Snack Stock Up campaign for university students, a partnership with National Co+op Grocers to reduce the cost of goods, and the acceptance of Supplemental Nutrition Assistance Program (SNAP) benefits. Through a partnership with the NYS non-profit Field & Fork, the Co-op will also double SNAP dollars for shoppers, up to $20 per day.

Staff and Board Member Alexandra Jones engaged attendees with trivia questions during the meeting, including fun facts like the Co-op’s annual sale of nearly 6,500 pounds of organic bananas and 2,328 pounds of organic carrots, 1,651 of which were grown locally by Kent Family Growers.

Following LaRose's report, outgoing Board Member Karen Bage, who served two three-year terms, provided an update on the Co-op’s expansion project, which is partially funded by a 2021 NYS Downtown Revitalization (DRI) grant. Bage announced that the Co-op has received a Healthy Food Financing Initiative (HFFI) Planning Grant of $75,000 and entered into contracts with Aubertine & Currier Architects and National Co+op Grocers Store Design to support the planning phase. The Co-op has also applied for a NYS Agriculture & Markets Food Access Expansion Grant, with the Village of Potsdam as the lead applicant.

Bage further reported that the Co-op has secured fiscal sponsorship from the Cooperative Development Fund of Cooperative Development Services, allowing for tax-deductible charitable donations to support the expansion project. Preliminary plans for the new Co-op building include doubling the retail space and offering a wider range of products at competitive prices. Bage assured attendees that despite the absence of visible construction, significant progress is being made “almost daily.”

The meeting concluded with the election of incumbents David Bradford and Andre Comardon, along with new members Susan Dillon, Larissa Fawkner, Mark Phillips, and Jody Tosti to the Co-op’s Board for one- and three-year terms. Outgoing Board President Jim Fryer expressed gratitude to departing board members and the dedicated team supporting Co-op operations. He reaffirmed the Co-op’s commitment to its mission: “The Potsdam Food Co-op exists so that everyone in our community has reliable access to local, organic, and healthy food. North Country farmers and producers have a stable, honest, and robust marketplace. Customers have a welcoming place to shop, interact, and participate at many levels. Community members have a model of environmentally respectful practices and cooperative ownership.”