The Specialty Coffee Association (SCA) has released its financial year (FY) 2018/2019 Annual Report, marking the first time it presents a consolidated financial report since the unification of its heritage organisations.
View the report here.
“In moving from heritage associations to the SCA, there were many challenges and lots of pushback, but this last year shows the success and the reasons for the merger in the first place,” writes Heather Perry, SCA President 2019.
The SCA calls FY 2018/2019 a year of transition, marking an important step towards its long-term financial viability and a culturally-unified identity across its board, staff, volunteers, and activities. This transition is evidenced by the work towards the eight annual objectives tracked in the report. Also included is a worldwide map of the SCA’s activities across the period: 61 events in 23 different countries across all six of the world’s inhabited continents, not including chapter activities.
“While it may feel as if the publication of our annual report is somewhat out of place in [the current context], it represents a key step forward in our efforts to build transparency around the organisation and its activities,” writes SCA CEO Yannis Apostolopoulos in the Executive Summary.
“By putting these activities to paper, we are setting a benchmark by which we can measure our future success, as we as offer our community opportunities to hold us to account through our continued transparency.”
The report’s accompanying financial statements, showing positive net assets on its balance sheet for the first time since unification, reflect the consolidation of Association for Specialty Coffee – USA, Specialty Coffee Association – Europe, World Coffee Events, the SCA Germany Chapter, and the SCA Korea Chapter.
“These accounts – fully consolidated for the first time in the history of the SCA – mark the beginning of a new era of the SCA: a truly global association,” writes Christina Meinl, SCA President 2020. “Now we must continue to support and build coffee communities around the world with our ambitious five-year plan.”
The SCA says the effects of the COVID-19 pandemic are not reflected in this report, and the current financial environment has shifted significantly. COVID-19 has and will continue to have a serious impact on the financial strengths of the SCA.
For more information, visit sca.coffee