Financial Transparency Update from the Board

One of the commitments this Board made to our members was to lead with greater transparency. We believe every member deserves to understand the Farm's financial health, the challenges we have inherited, and the steps we are taking to restore long-term stability after a period of significant financial decline.

As part of this transition, the Board has been conducting a thorough review of the Farm's financial records and annual tax filings covering the past several years. While these documents do not tell the entire story, they do reveal important financial trends that every member deserves to understand.

Throughout the challenges of the COVID-19 pandemic, the Farm maintained a relatively consistent financial position. As our community and the country emerged from the pandemic, the Farm experienced encouraging improvements that reflected the resilience and commitment of our members and supporters.

The picture changes significantly in 2025.

The Board identified a substantial decline in revenue together with financial losses unlike anything reflected in the Farm's previous history. In reviewing the available records, we found no prior year in which the Farm experienced losses of this magnitude. These results represent a significant departure from the Farm's historical financial performance and warranted immediate attention.

Our review of financial records, operating procedures, and supporting documentation remains ongoing. We are committed to following the facts wherever they lead and to conducting that review carefully and responsibly. While there may be circumstances that limit the amount of detail we can publicly disclose, we believe our members deserve to know that this work is underway and remains one of the Board's highest priorities.

One conclusion has already become clear. Based on the Farm's current financial condition, the organization can no longer responsibly support the expense of a paid Executive Director. At the Farm's recent rate of operating losses, its available cash reserves were on a path to being exhausted within a matter of months if corrective action was not taken. As stewards of this organization, the Board has a fiduciary responsibility to make difficult decisions when necessary to protect the Farm's future. Eliminating that position was not a decision made lightly, but one we believe was necessary to stabilize the Farm's finances and preserve the organization for the members and the community it serves.

Our responsibility now is not to dwell on the past, but to understand it thoroughly so that we can ensure these circumstances are never repeated. We are strengthening financial oversight, improving recordkeeping, implementing stronger internal controls, and establishing clear checks and balances that promote accountability, transparency, and sound financial stewardship.

Just as importantly, we are committed to building a culture of openness. Going forward, members should not have to wonder about the Farm's financial condition. The Board intends to provide regular financial updates and meaningful insight into the organization's fiscal health. Transparency will become a standard practice—not an occasional update.

While there is still important work ahead, we are encouraged by what we see. The Farm's core operations remain viable, and the steps already taken have significantly improved its financial outlook. We believe Abby's Organic Community Farm has an incredibly bright future. By restoring sound financial stewardship, remaining faithful to Abby's mission, and working together as a community, we are confident we can rebuild a stronger, healthier, and more sustainable organization for generations to come.

Thank you for your patience, your trust, and your continued commitment to the future of Abby's Organic Community Farm.