From: the Board of Directors

The Wedge Board of Directors is happy to report another hugely successful year! The Wedge continues to thrive. The co-op maintains an excellent financial position; we have continued to grow both in size and in sales; we continue our work on the development of more meaningful connections with our membership; and we remain committed to programs designed to support all of the communities that work with us including the neighborhood, local charitable organizations, our community of Twin Cities co-ops and our local growers and producers.

The State of the Co-op

Thanks to your patronage, our combined sales from the store, Wedge Worldwide and Co-op Partners Warehouse exceeded $37 million this year. Although we've taken steps over the years to expand beyond the "four walls" of our store, the Wedge continues to operate free of any long-term debt, while increasing our cash and other assets. In fiscal year 2007, our membership rolls increased to 12,996 active members at year end (6/30/07). Our huge membership is evidence of our success in getting the Co-op's message out: natural, healthy food, provided by a member-owned co-op that focuses on sustainability, support for local producers and support for the community.

On a deeper level, there is much to be satisfied within the Co-op. We continue to serve the community in meaningful and visible ways. The Wedge will soon distribute $45,000* in WedgeShare grants for local non-profit organizations providing services in the areas of organics, education and sustainability. The Wedge remains a leader in support for the Midwest Food Connection, a non-profit group providing education to school-age children on natural and organic foods. And of course, the Wedge spearheaded the Sow the Seeds fund, which raised over $250,000 to provide relief for flood-stricken organic growers.

Inside the store, Wedge staff have continued the co-op's commitment to providing our members with phenomenal customer service and a broad selection of the finest in natural and organic foods, as well as other products to promote healthy living and sustainable environments. The work of our staff in the areas of education, research and member services is unparalleled, and serves as a model for the co-op community as a whole.

Our Membership Connection

The Board is also actively working on enhancing our connection to the membership, and those efforts are coming to fruition. Our focus this year has been on improving our mechanisms for receiving input, with the goal of hearing from a broad base of the membership. To that end, our first email survey went out in September to members who registered to participate, and member feedback forums took place in July, September and November of this year. We hope to learn more about what members value most about the Wedge, what they like and dislike about their shopping experience, as well as what they'd like to see in the Wedge's future. We'll report what we've learned in future issues of the newsletter and during next year's annual meeting.

The Board is committed to setting a long-term direction for the Wedge that will closely reflect the needs and values of our membership as a whole. We do this in the context of a rapidly expanding and increasingly competitive natural foods industry. Aligning member desires with our need to continue to innovate and maintain our relevance in this competitive environment is a tremendous, but also an exciting, challenge for the Wedge. We appreciate your support as we continue on this journey.

Lastly, as always the Board recognizes that all of the success the Wedge enjoys is a direct result of the dedication, creativity and efforts of all of the store's management, staff and members. Our sincere thanks to all of you.

* Erroneously reported as $25,000 in the annual report - our apologies.