The only organization that can survive spending more money than it earns is the federal government. All you have to do is convince your board pres to buy a printing press and then have the super crank out greenbacks.

Seriously, you're in debt and you're going deeper in debt. How on earth is that normal? Remember that a "co-op" is just the cute name for your Corporation. Corporations need to make more than they lose or else, well, ask your board president if he remembers AIG and their ilk.

Ask your corporate accountant to attend a board meeting and tell her/him to give you the benefit of his/her professional experience.

I'm guessing you're going to have to increase your maintenance and find other ways to broaden the revenue base. A flip tax did wonders for our co=op. Good luck.