2026
annual report
THis is Community Ownership!
We appreciate your investment in us! A Letter from the CEO
fiscal year 2026 annual report CONTENTS 2 Letter from the CEO 3 President’s Report 4-5 By the Numbers 6 Treasurer’s Report 7 Financial Report 8-9 Staff Thanks 10-11 Owner Rewards 12-13 Community Impact 14-15 Sustainability 16-19 Local Farmers 20-21 New Local Products 22-23 Coralville’s 25th
www.newpi.coop
LAST YEAR, our annual report focused on New Pioneer’s investment in our community. This year, I find myself thinking about the investment our community makes in New Pioneer Food Co-op. Every day, people have choices about where they shop. They can buy their groceries almost anywhere. The fact that so many people continue to choose New Pioneer is something I never take for granted. This past year, we achieved record sales during a time when many households were feeling the pressure of higher costs and economic uncertainty. To me, that says that thousands of people in our community continue to believe that local food, cooperative ownership, and community-centered businesses matter. I love the cooperative model.
ON THE COVER
Mural painted by local artist Thomas Agran, awarded to New Pioneer Food Co-op from Fairtrade America in partnership with Frontier Co-op. CREDITS Editors: Barb Danielson and Jenifer Angerer Designer: Amy Belice
2 • New Pioneer Food Co-op
When New Pioneer does well, it creates opportunities to do more of the things we were created to do. We can support local farmers and producers. We can invest in our employees. We can contribute to community organizations and local
causes. We can improve our stores and strengthen the Co-op for the future. And because so much of what we do is local, more of those dollars stay right here in our community, supporting local jobs, local businesses, and our local economy. In other words, your investment in New Pioneer becomes an investment in the community we all share. As I look back on the past year, I’m proud of what we’ve accomplished together. Not just because of the sales numbers, but because of what those sales represent: thousands of people choosing, again and again, to support a business built around shared values rather than shortterm profit. The report that follows tells some of that story. Every one of those accomplishments started with people making a simple decision: to support New Pioneer Food Co-op. Thank you for your trust, your support, and for being part of this cooperative.
Patrick Brickel New Pi CEO
2026 President’s Report IT HAS BEEN another strong year for New Pioneer Food Co-op. Our finances remain healthy, and that strength begins with sales. Most importantly, it begins with you, our owners and shoppers. Thank you for remembering that where you spend your money truly does make a difference. We have continued investing in our locations across the corridor, including equipment for the Hub (our commissary kitchen in North Liberty), refrigeration repairs in Cedar Rapids, parking lot paving in Iowa City, and HVAC work in Coralville. We’re also investing in employee compensation and career development pathways. At the board level, we rely on a range of policies to help us receive information, review data, and measure management’s performance. We also have policies that guide our own self-evaluation as a board. Over the past two years, we have been updating the management policies and related reports, and we have developed a strong routine for reviewing them. At our March retreat, we also made good use of our board-focused policies and established a clearer process for using them to guide the board’s work going forward.
I realize governance and policy work may not sound very exciting, but it is an important part of serving on the New Pi Board.
Board of Directors President
JON FOGARTY Owner since 1995 Vice President
SARAH WALZ Owner since 1997 Treasurer
Having clear processes in place helps keep governance consistent from year to year, even as board members change.
JIM MOHNI Owner since 1988
It has also been encouraging to see more candidates on the ballot in recent years. That interest is exciting, and strong processes help ensure future boards have a solid foundation from which to focus on the work ahead. And if you have run for the board in the past few years, thank you for putting yourself out there and being willing to serve.
Members are welcome to share their views with the New Pi Board.
Finally, thank you again for your continued support of this cooperative business we all own collectively. Together, we are helping New Pi grow, adapt, and continue serving our community.
JEN KNIGHTS Owner since 2003 DANA JUDAS Owner since 2019 AUSTIN KORNS Owner since 2022
Published by:
NEW PIONEER FOOD CO-OP
Iowa City 22 S. Van Buren St. Iowa City, IA 52240 (319) 338-9441 Coralville 1101 2nd St. Coralville, IA 52241 (319) 358-5513 Cedar Rapids 3338 Center Point Rd. NE Cedar Rapids, IA 52402 (319) 365-2632
Jon Fogarty
New Pi Board President
2026 ANNUAL REPORT • 3
Your Co-op
By the Numbers
Growth in ownership and engagement 40,780
total owners
2,668
new email sign-ups
1,033
new social followers
4 • New Pioneer Food Co-op
980
new owners
I love everything “about the Co-op!”
80.2%
of Co-op sales were from our owners
26,270
active owners who purchased at the Co-op last year
$10,377,003.78 in local sales
78%
of all produce sold was organic
$4,140,568.15 in organic produce
311
local vendors (up 47% from last year)
2,485
local products on the shelves (not counting New Pi Housemade items made with locally sourced ingredients)
$5,340,724.72 total produce sales
1,365
inclusive trade products on the shelves: women, LGBTQIA, or minority-owned
$731,065.16
owners saved in owner discounts and rewards
2026 ANNUAL REPORT • 5
Treasurer’s Report FOR THE FISCAL YEAR which ended June 30, 2026, New Pioneer closed with a net loss of $31,000. Last year’s earnings were $172k and the year prior (FY24) recorded a loss of $125k. This year’s loss was less than 0.1% of total sales. And while the most recent numbers may not sound impressive, FY 2026 was a very good year in many respects. HIGHLIGHTS OF THE JUNE, 2026 FINANCIAL STATEMENTS: • Sales for the year totaled $32,361,000, an increase of $3,057,000 or 10.4% over last year. This improvement was broad based with increases at all three locations with sales growth ranging from 9.8% to 11.5%. • Financial stability is another key aspect of New Pioneer’s financial picture. Current assets totaled $3,234,000. This includes cash, inventories, and liquid assets. Debt has been reduced by $126,000 during the year. And Owners’ Equity totaled over $4,000,000 which is 34% of total assets at year-end. • Big investments in the most recent period included several necessary upgrades to our property and equipment. Capital expenditures were over $500,000 comprised of investments and repairs in existing facilities and equipment along with operational improvements which will benefit the Co-op in the future. Investment in technology and systems was also necessary to support the organization and remain competitive. • The compensation plan for employees was updated to improve consistency and equity within our organization and maintain competitiveness with other employers in our communities. The ability to attract and retain good employees will be critical to New Pi’s long-term success. 6 • New Pioneer Food Co-op
The staff were largely responsible for the Co-op’s success this year. They have done an admirable job of handling the customer service, operational demands, and financial management of the company. The food industry is a very competitive business that requires a keen awareness of the organization and attention to detail while balancing multiple priorities. The Co-op staff deserve our recognition for a job well done in this regard. Finally, a big thanks goes to our faithful owners.
New Pioneer’s continued sales growth is proof that our customers truly value the service and quality products delivered at New Pi locations. With the current talk about inflation and affordability, the national trends in the food industry are tilted toward more value conscious shoppers spending less, choosing lower cost providers, and compromising quality. New Pioneer’s shoppers are clearly different. The robust support of our owners shows once again in our financial statements. Thank you so much for your loyalty and support.
Jim Mohni
New Pi Treasurer
Financial Report Cash Flow Operating Activities Investing Activities Financing Activities
2026*
2025
2024
667,086 (567,569) (75,036)
706,447 (175,610) (180,675)
483,854 (154,922) (197,931)
Net Change in Cash & Cash Equivalents $ 24,481 $ 350,162 $ 131,001
Balance Sheet Assets Current Assets Property & Equipment Other Assets Total Assets
3,234,111 8,230,815 575,512
3,150,987 8,224,717 553,464
2,646,290 8,470,445 532,529
$ 12,040,438
$ 11,929,168
$ 11,649,264
Liabilities & Equity
Current Liabilities 2,233,949 2,005,667 1,704,121 Long-Term Liabilities 5,712,346 5,838,482 6,094,569 Total Liabilities 7,946,295 7,844,149 7,798,690 Equity 4,094,143 4,085,019 3,850,574
Total Liabilities & Equity $ 12,040,438 $ 11,929,168 $ 11,649,264
Income Statement Net Revenue
$ 31,962,516 $ 29,304,415 $ 25,652,677 Cost of Sales & Operating Expenses 31,665,384 28,963,750 25,625,928 Income from Operations 297,132 340,665 26,74 Other Income/Expenses (328,499) (168,260) (151,913) Income Before Taxes (31,367) 172,405 (125,164) Net Income
($ 31,367)
$ 172,405
($ 125,164)
*2026 numbers are preliminary and pre-audit
2026 ANNUAL REPORT • 7
Thank you to ALL our hardworking staff!
We would like to give a special nod of appreciation to those who have been with us through thick and through thin.
30+YEARS Eric C.
Miss Nik
Chad C.
20+YEARS Jason P. Lynn A. Ian M. Barbara M.
Joseph G. Matt L-P. Jessie K. Maggie M.
Mike A. Mike K.
15+ YEARS Jesse K. Tim S. Betsa F-S. Juli K. Sheila C.
Michelle M. Noah K. Sam S. Sue A. Jenifer A.
Monica F. Elizabeth B. Patrick B. Mercedes C-P.
10+ YEARS David W. Erik S. Shaun S. Adelina S-A. Paco F-P. Joseph S. Ryan H.
Tony C-W. Brittni L. Mary B. Gavin P. Jess M. Lisa H. Colton L.
8 • New Pioneer Food Co-op
Gustavo V-G. Kenia V-G. Makayla O. Martin D. Tevin O.
Your staff is “wonderful and the food is so excellent!”
Courteous “and helpful staff at Iowa City store.”
You seem to have mostly “positive people working with smiles on their faces, especially the cashiers, who know a lot of customers by name.”
2026 ANNUAL REPORT • 9
MESSAGES FROM OUR OWNERS
I find so much “value! Shopping here makes me happy.” If you didn’t “have any member rewards I would still shop just as much as I currently do. Prioritizing support of local farmers and producers is important to me.” like the idea of “aI credit back for all purchases, that would be a great individual thank you. “
10 • New Pioneer Food Co-op
A direct return on your investment in us! Owners Earn 1% Back New Pioneer Food Co-op started because a group of like-minded people invested in an idea: that our community could build a better food system together. We witnessed that in action this year as we navigated climate, economic, and supply chain disruptions. While grocery growth slowed industry-wide, the Co-op had a record sales year. We’ve been around long enough to know that’s not luck. It’s your investment in action. So, we changed how that investment comes back to you with owner rewards.
Owners now earn 1% back on every purchase, as store credit, automatically. No coupons to stack, no schedule to track, just a direct return based on how you actually shop. Our goal was a program that incentivizes continued Co-op support while giving a fair return to everyone who invests in us, regardless of diet, budget, or lifestyle. We have retired our weekly deals and Buy 5 programs, which had become a system that rewarded those who had time to plan ahead or happened to catch the right week for their particular shopping habits. Some owner discounts remain, such as 10% off Frontier Co-op bulk herbs and spices. You can learn more details on the ownership page at newpi.coop. We don’t answer to distant shareholders—we are owned by you! Our profit goes back into the organization, and into the food system you’ve invested in. The 1% back isn’t a bonus, it’s a direct return of your investment.
Ow ner s E arn
K C A B 1%
s ! e a s h c u r P p on C o-o
2026 ANNUAL REPORT • 11
Together, We can make a difference Thank you for helping us make an impact in our communities!
This is what our owners’ round-ups, our sponsorships, and our giving added up to this Year. We appreciate you!
$25,521.96
in community event and organization sponsorships
$15,709.87 in direct and in-kind donations to community organizations
121
groups supported, including 28 local schools 12 • New Pioneer Food Co-op
CHANGE FOR CHANGE
102 CELEBRATE PRIDE yard signs sold, benefitting United Action for Youth’s Teen LGBTQ program
$52,905.92 benefitting 16
local organizations (154% INCREASE OVER LAST YEAR)
18
local community events sponsored
13
community events tabled including 5 farmer’s markets
We support “people trying to do the right thing for the world.”
The values on “which the Coop’s mission is based align closely with my own.”
2026 ANNUAL REPORT • 13
14 • New Pioneer Food Co-op
to
SUSTAINABILITY
Small Choices, Real Impact 7.10%
increase in bulk sales over last year
300
63,478
native trees given to owners on Earth Day
2,500+
pounds of food rescued by HACAP and Table To Table
free reusable bags given away
65,200
300
monarch homes donated to Indian Creek’s Monarch Fest
thousands
of pollinator friendly seeds at tabling events
pounds of compost diverted from the landfill
Bioswale Restoration In Cedar Rapids we are restoring our Bioswale alongside the Linn Soil and Water Conservation District, the City of Cedar Rapids Stormwater program, and Sustainable Landscape Solutions. 2026 ANNUAL REPORT • 15
NEW PI SUPPORTS THE NEXT GENERATION OF LOCAL FARMERS
Abbe Hills Farm Mt Vernon, Iowa 20 miles from the Co-op
Pete Kern and Natasha Hegmann are the next chapter in Abbe Hills Farm, a 70-acre vegetable farm near Mount Vernon, Iowa, owned and operated by longtime grower Laura Krouse since 1995. As Laura moves toward retirement, they are transitioning into ownership and building on her decades of work growing vegetables, caring for the land, and farming for community. Now farming 5-acres with a seasonal crew, Pete and Natasha are serving the Iowa City–Cedar Rapids corridor while working toward organic certification.
16 • New Pioneer Food Co-op
Their practices focus on building topsoil, protecting waterways, minimizing fossil fuel inputs, supporting biodiversity, and harvesting vegetables for superior flavor at peak freshness. Look for these products in our produce aisle.
“We seek to spread the joy of cooking and eating fresh healthy foods,” they say—a mission rooted in responsible stewardship and a deep respect for the land, community, and food they grow.
Black Earth Gardens Marion, Iowa 4 miles from the Co-op
Mari Hunt Wassink is a regenerative farmer and the founder of Black Earth Gardens in Marion, Iowa. She launched the farm in 2023 after several years of hands-on training, apprenticeships, and study in sustainable agriculture. Black Earth Gardens specializes in growing vegetables, herbs, and fruits that are culturally important to Black communities in Eastern Iowa, including crops such as okra, collards, mustard greens, turnip greens, and specialty peppers. Mari is committed to regenerative growing, food sovereignty, and food access. Her work nourishes neighbors while improving
soil health, pairing culturally relevant crops with equitable distribution and access-oriented sales channels that accept SNAP, WIC, and senior farmers market benefits. Black Earth Gardens has grown into more than a small farm business; it is
a local model for connecting regenerative agriculture with racial equity and community health and we are proud to feature her produce at New Pioneer Food Co-op!
2026 ANNUAL REPORT • 17
Kerns Homegrown Olewein, Iowa 54 miles from the Co-op
In 1999, at the age of 15, Blake Kerns rented two acres of abandoned crop land, borrowed a planter, and seeded sweet corn. Twenty years later he’s still planting, picking, and delivering fresh picked homegrown produce.
“Planting a seed, nurturing it, picking it, delivering it—the process provides a real sense of accomplishment.” As a GAP-certified Iowa farm operation with over 2,200 acres of crop production including 100+ acres of fruits and vegetables, sustainable agriculture practices are at the core of Kerns Homegrown operations. The use of rotational cover crops, integrated pest management systems, drip irrigation, and no-till farming are just some of the ways Blake works to improve soil health and reduce erosion for better land stewardship of Iowa farmland.
18 • New Pioneer Food Co-op
Little Deb’s Berry Farm, situated just outside of Newhall, Iowa is the pride and joy of Jeff and Deb Sindelar.
Little Deb’s Berry Farm Newhall, Iowa 19 miles from the Co-op
Jeff began planting kiwi berry vines 17 years ago, spending years experimenting with growing practices and cultivars to find what works best for a quality harvest. It takes several years before a vine will fruit, a true crop of patience. At Little Deb’s Farm, you’ll find a vibrant mix of crops like kiwi berries, honey berries, nuts, and asparagus.
Jeff and Deb don’t spray their crops, instead choosing to grow as naturally as possible. Wondering what kiwi berries are? They are mini versions of their fuzzy green cousins and pack the same bright, fruity flavor as kiwi fruit. Unlike the more common kiwi fruit, kiwi berries have a smooth, green skin rather than a fuzzy exterior.
2026 ANNUAL REPORT • 19
Meet 8 new local makers! Bramble BBQ When Jake Huyser of Oskaloosa, Iowa learned that his wife needed to change her diet, he also learned that nearly every barbecue sauce on the market contained ingredients she needed to avoid. Determined to ensure she could still enjoy the flavors they both loved, Jake got to work in the kitchen. The result was Bramble BBQ sauce, a clean, high-quality alternative that delivers exceptional flavor without compromising ingredients. It’s proof that award-winning flavor and mindful ingredients can go hand-in-hand!
Jake Huyser
Yonderbound
Eric and Megan Harlow
Skoglund Meats Skoglund Meats is a family-owned meat processing business out of West Bend, Iowa in operation since the 1970s. They are committed to producing high-quality, flavorful, hand-crafted meat products. New Pioneer now sells their tasty, high-quality local beef tallow and snack sticks.
20 • New Pioneer Food Co-op
Eric and Megan Harlow of Des Moines are big nature people but ran into many annoyances while bringing cannabis products on their adventures. Too hot outside? It melts. Too cold? Turns into a rock. Cans? Take up too much space. So, they created Yonderbound’s Trail Mixer, a hemp-derived, low-dose, unflavored powdered drink and food additive that is perfectly portable, includes 3mg each of THC and CBD, and is super easy to go with you wherever your adventures may take you!
GG’s Pasta Matt and Jear Greiner have traveled the world learning the art of Italian cuisine and eventually bringing that passion back to Iowa City and founding GG’s Pasta. Their high-quality, artisan pasta uses a blend of North Dakota Northern Durum and Arizona Desert Durum, which make for a very unique flavor and texture given their climates. Their pasta is also completely vegan, we are so grateful they decided to bring their talents back to Iowa!
Echo Valley Farmer Jacob Stutzman likes to do things differently. He operates their family farm, Echo Valley Eggs, about 8 miles outside of Iowa City, raising hens for eggs. But not just any eggs—these eggs are as clean as they come. Their chickens are fed only certified organic feed, which means all their eggs are nonGMO. And their hens? They’ve never been caged a day in their lives. There also are no machines used in their processing—all of the eggs are gathered by hand and they hand label every carton!
Cahokia Rice
Tomie and husband
For four generations, farmer Blake Gerard and his family have lovingly cultivated a pristine corner of the Mississippi River bottoms region in Southern Illinois. The Gerard family believes in creating food systems that not only feed people today but protect and nurture our environment for the future. Cahokia rice has 53% more protein per serving than conventional rice and a low glycemic index of 41 (the lowest GI ever reported in a commercial rice), making this rice an excellent heart-healthy and diabetic-friendly choice!
Iowa Miso
Gray Toad Tallow
Tomie, owner and creator of Iowa Miso makes delicious miso with Iowa grown soybeans. You can find her product at farmers markets around Cedar Falls, Hansen’s Dairy, and now New Pioneer Food Co-op. Tomie’s Iowa Miso balls create an instant cup of miso soup—just add hot water, steep, stir and enjoy! Her Amber Miso has a mellow sweetness which slowly transitions to a more nutty and tangy flavor while her Gold Miso is more full-bodied and powerful.
Five years ago, Sharon’s son began to get red patches on his legs and she developed red, dry patches on her face. She wanted the most natural remedy. After researching, she found tallow balm and began making her own. Tallow balm is a skincare product made from rendered animal fat. Gray Toad Tallow uses organic beef tallow, often sourced right from New Pi’s Meat Department! Tallow’s rich composition of vitamins A, D, E, and K offer unique nourishing properties for the skin, with a lipid profile that mimics our skin. 2026 ANNUAL REPORT • 21
Celebrating 25 Years of New Pioneer Coralville On February 14, New Pioneer’s Coralville store marked 25 years of community, local food, and cooperative spirit with a lively in-store anniversary celebration. The party honored not only a milestone birthday for the store, but also the story of how a once-controversial expansion became one of New Pi’s proudest successes.
From Movie Theater to “Shinyville” The Coralville store opened on February 14, 2001, in a building many longtime residents remembered as the Coral IV movie theater. Converting the former theater into a grocery store was no small task. Staff recalled the sloped floors, major construction challenges, and the decision to create a basement that eventually became home to a wine cellar. The project required ingenuity, teamwork, and more than a few memorable construction stories. The new location quickly earned the affectionate nickname “Shinyville” because it felt bigger, brighter, and fancier than anything New Pi had done before.
22 • New Pioneer Food Co-op
With its own parking lot, mezzanine classroom space, and teaching kitchen, the Coralville store became a place for classes, tastings, community gatherings, and early versions of events that continue to shape New Pi’s culture today.
The Brick Oven and the Bakehouse Legacy One of the most beloved pieces of Coralville store history is the Bakehouse. New Pioneer’s original Coralville bakehouse opened in 1995, and its iconic brick oven was later moved and rebuilt inside the new Coralville store. The oven had originally been assembled by French oven builder Christian Pozzar, who constructed it from memory using skills passed down through generations. When the oven was relocated, staff rebuilt it brick by brick using instructions left behind in French, without the convenience of modern translation tools. Even before construction was fully complete, bakers were preparing bread for the Iowa City store from the Coralville site. Though the oven is no longer operational, it remains visible in the seating area today, a quiet reminder of the store’s artisan baking roots.
Built on Local Food and Cooperative Commitment
Coralville Today and What Comes Next
From the beginning, the Coralville store reflected New Pioneer’s commitment to local producers. Staff remembered how the Co-op helped give early market access to businesses that would later grow into regional or national names, including Kalona SuperNatural, Oasis Hummus, and Eco Lips. New Pi continues to play an incubator role for local producers, whether they hope to stay small or grow well beyond Iowa.
Today, the Coralville store is an essential part of New Pioneer’s success. The store welcomes an average of 13,000 shoppers each month, sells produce that is nearly 80% organic, and supports the local economy through more than $3 million in annual purchases from local producers.
Opening a second store was not an easy or universally popular decision. Some owners and board members worried the expansion was too risky, and the early months were financially difficult. Yet staff stayed rooted in the belief that the Co-op could succeed through strong service, quality products, and loyalty to its owners. Twenty-five years later, that faith has more than paid off.
A Party Worthy of 25 Years The anniversary celebration brought that history to life in joyful New Pi fashion. Shoppers enjoyed New Pi cake in three flavors, samples throughout the store, giveaways, and a chance to spin the winning wheel for Co-op swag. The event was full of laughter, shared memories, and conversations with longtime owners who remembered the store’s uncertain beginnings.
The future looks bright, too. The Coralville store has returned to a full-service meat and seafood counter, continuing its role as a place where owners, shoppers, staff, and local producers come together around good food and shared values.
Thank You, New Pi Community The Coralville store’s first 25 years were made possible by hardworking staff, visionary local producers, and the investment and loyalty of more than 40,000 New Pioneer owners. Thank you to everyone who helped build, support, question, improve, and celebrate this store. Here’s to 25 years of “Shinyville” and to all that comes next.
For many, the celebration was also a moment of reflection. Some owners shared that they had originally opposed the expansion but now shop the Coralville store regularly and feel proud of what it has become. It is a reminder that cooperative success is built over time through shared risk, trust, and the willingness to keep showing up for one another. 2026 ANNUAL REPORT • 23