Hood River Supply held its 70th Annual Meeting Feb. 13 at the Pine Grove Grange. The event included reports to members and customers from the board and management on the past fiscal year’s financial performance and accomplishments, and the election of three directors.
Pat McAllister, president/CEO, gave the financial audit report and management update. McAllister reported that Hood River Supply posted a record sales year of nearly $11 million, a net profit of over $495,000 and a strong financial position on the balance sheet. (More detailed financial information on Hood River Supply can be found on their website, www.hrsupply.com.)
The cooperative will be returning nearly $150,000 in cash back to their members from their profits and equity retirements. The cooperative has returned nearly $750,000 to members in the last five years, as reported by McAllister.
The membership heard from John Wells, board chairman, on the past year’s accomplishments and contributions by the cooperative back into the community. Wells recognized management and staff for being named the 2019 Hood River Chamber of Commerce Business of the Year.
An election of directors was also held, resulting in the re-election of three directors, each to a three-year term: John Wells, District 4 (Pine Grove), Brian Nakamura, district 3 (Odell), and Randy Franz, at-large.
McAllister was recognized for his 32 years of service to Hood River Supply by the board of directors. McAllister announced his retirement in November, effective May 15. Wells gave the audience an update on the search process and progress for a new president/CEO.