Annual Report 2009 - 2010 - EQUITY EXCHANGE · Manager; J.B. Daughenbaugh, Grain Merchandiser;...
Transcript of Annual Report 2009 - 2010 - EQUITY EXCHANGE · Manager; J.B. Daughenbaugh, Grain Merchandiser;...
Agenda
Nineteenth Annual Meeti ng
Alliance Grain Co.North Park Pavilion - Gibson City, Illinois
Tuesday, July 20, 2010 - Meeti ng at 5:00 PM
Call to Order . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CURT MEINER
Invocati on . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PASTOR STEPHEN GOODWIN
Meeti ng Noti ce & Certi fi cati on of Quorum . . . . . . . . . . . . .DENNIS HELMERS
Introducti on of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CURT MEINER
Financial Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JOE THOMPSON
Manager’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . JOE THOMPSON
Electi on Results, Chair of Nominati ons . . . . . . . . . . . . . . . DAVID MASCHING
Other Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CURT MEINER
Door Prizes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CURT MEINER
Adjournment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CURT MEINER
Dinner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . TOM YOUNG CATERING
Alliance Grain Co.Corporate Headquarters
1306 West 8th StreetPost Offi ce Box 546
Gibson City, Illinois 60936-0546PH: 800-222-2451 FX: 217-784-8949
www.Alliance-Grain.com
MISSION STATEMENT
Alliance Grain Co. is a farmer-owned cooperati ve providing grain marketi ng and handling services focused on enhancing the profi tability of its
farmer-owners while preserving the fi nancial integrity of the cooperati ve.
Board of Directors
Dennis HelmersSecretary, District 9
Curt MeinerPresident, District 8
Bob ProvinDirector, District 1
Rick YoungDirector, District 2
Byron JonesDirector, District 3
Doug BruckerTreasurer, District 4
Wayne MorrisonVice-President, District 10
Phillip MoritzDirector, District 6
Bob CregoDirector, District 7
Mark KerberDirector, District 10
2009 -
2010
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Rodney LandauDirector, District 5
About Us
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Established in 1991, Alliance Grain Co. is a farmer-owned elevator system that includes thirteen elevators throughout East Central Illinois. Alliance Grain has operati ons in Anchor, Bellfl ower, Cabery, Campus, Charlott e, Colfax, Cropsey, Cullom, Gibson City (West and Middle), Melvin, Saybrook and Sibley. Eight of these elevators are rail load-out accessible via the Bloomer Line railroad. Approximately 22 million bushels of grain can be stored at the thirteen locati ons.
On a daily basis, the services of Alliance Grain include grain storage, marketi ng assistance and off -farm hauling, to name a few, all at competi ti ve prices. Being farmer-owned has helped us visualize all aspects of agricultural producti on. Shareholders (producers) elect board members from 10 districts. These 11 board members, with one at large, discuss the operati ons of the elevator and represent their district. This management system has kept Alliance Grain Cooperati ve thriving these last 19 years.
September 1991 - Alliance Grain Cooperati ve is formed with a consolidati on vote from the shareholders of Anchor Grain Co. and The Farmer’s Grain of Gibson City.
April 1992 - Foosland Grain is acquired by contract with faciliti es at Foosland & Bellfl ower.
August 1994 - Farmer’s Grain of Charlott e and shareholders voted to merge with Alliance Grain Co.
September 1997 - The Cullom elevator is acquired from Tri-Central Coop.
July 2002 - The shareholders of Sibley Grain Co. voted to merge with Alliance Grain Co.
September 2002 - Alliance Grain Co. purchased the Hamilton Elevator, with faciliti es in Campus, Cabery and Sunbury. Sunbury was later sold.
June 2006 - Alliance Grain Co. purchased Ford Grain of Melvin to be the 13th Alliance locati on.
With 13 locati ons, Alliance Grain’s total capacity stands at over 22 million bushels. We’re ready to serve you!
ALLIANCE GRAIN CO.BALANCE SHEET
as of May 31, 2010
ASSETS
CURRENT ASSETS Cash and Short Term Investments 292,224 Receivables 4,545,072 Inventories 34,975,534 Prepaid Expenses 347,877 Total Current Assets $ 40,160,717
Investments in other Corporati ons $ 4,083,508 Property, Plant & Equipment $ 14,473,915 TOTAL ASSETS $ 58,718,140
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT LIABILITITES Grain Payables 14,364,937 Other Payables 7,639,289 Notes Payable 1,673,539 Total Current Liabiliti es $ 23,677,765
LONG-TERM LIABILITIES Long Term Note Payable 6,975,000 Other Deferred Payables 1,856,911 Total Long-term Liabiliti es $ 8,831,911 TOTAL LIABILITIES $ 32,509,676
STOCKHOLDERS EQUITY Capital Stock & Credits $ 8,227,302 Retained Income $ 17,923,461 Equity For Investment $ 57,701 Total Stockholders Equity $ 26,208,464 TOTAL LIABILITIES & STOCKHOLDERS EQUITY $ 58,718,140
Balance Sheet
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Statement of Income (Loss)
ALLIANCE GRAIN CO.STATEMENT OF INCOME (LOSS)12 months ended May 31, 2010
Volume (Bushels Sold) 60,052,023
Sales $ 262,231,575 Gross Trading Income $ 6,067,828
Service Income Grain Drying 7,224,481 Grain Storage & PL Charges 3,821,149 Rental Income 57,000 Other Income 112,346 Total Service Income $ 11,214,976 TOTAL GROSS INCOME $ 17,282,804
Operati ng Expenses People & Related Expenses 3,760,891 Facility Expenses 6,270,855 Administrati ve Expenses 841,261 Interest - Seasonal 160,595 Total Operati ng Expenses $ 11,033,602 NET OPERATING INCOME $ 6,249,202
Other Income Patronage Dividend Income 158, 946 Income (Loss) from Subsidiaries (130,997) Total Other Income $ 27,949 NET INCOME (LOSS) BEFORE TAXES $ 6,277,151
Federal and State Tax (860,445)
NET INCOME (LOSS) AFTER TAXES $ 5,416,706
BU
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Changes in Financial Position
ALLIANCE GRAIN CO.STATEMENT OF CHANGES IN FINANCIAL POSITION
12 months ended May 31, 2010
SOURCES OF WORKING CAPITAL Net Income for the Year 5,416,706 Add (Deduct) Items Not Aff ecti ng Working Capital: Depreciati on & Amorti zati on 1,758,496 Noncash Patronage Refund Received (54,058) Income Taxes Deferred 580,873 Joint Venture (Income) Loss _ 130,997 Working Capital Provided from Operati ons $ 7,833,014 Stock Redempti ons 19,917 Gain on Marketable Securiti es 9,932
TOTAL SOURCES $ 7,862,863
USES OF WORKING CAPITAL Purchase of Property, Plant & Equipment 3,243,203 Reti rement of Capital Stock 49,815 Reti rement of Long-Term Debt 4,595,000 Dividends on Preferred Stock 2,165 Cash Patronage Declared 1,205,027
TOTAL USES $ 9,095,210 INCREASE (DECREASE) IN WORKING CAPITAL $ (1,232,347)
WORKING CAPITAL - Begining of Year $ 17,715,299
WORKING CAPITAL - END OF YEAR $ 16,482,852
This report is a condensati on of our auditors long form report which is available for your inspecti on at our corporate offi ce in Gibson City, or from any of our Directors. If you have any questi ons about this statement or our fi nancial conditi on, any director or the manager would be happy to discuss them with you.
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LOCATIONS
Anchor
Anchor Branch2W East Street
PO Box 128Anchor, IL 61720-0128
PH: 309-723-2091FX: 309-723-2011
Garry Cole, Locati on Supervisor and Terry Benway, Operati ons Support
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Bellfl ower
Bellfl ower Branch305 East Melvin StreetPO Box 167Bellfl ower, IL 61724PH: 309-722-3216FX: 309-722-3335
Chare Robinson, Offi ce Manager; Myron Shelton, Operati ons Support; Tristan Johnson, Locati on Supervisor
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Cabery
Cabery Branch305 East Main
PO Box 171Cabery, IL 60919
PH: 815-949-1672FX: 815-949-1661
Billy Edwards, Locati on Supervisor
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Campus
Campus Branch27896 North 3300 East Rd.PO Box 118Campus, IL 60920PH: 815-567-3311FX: 815-567-3430
Matt Dunn, Northern Area Manager; Shaun Edwards, Locati on Supervisor; Christi ne Graveson, Offi ce Manager
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Charlotte
Charlott e Branch33573 East 1300 North Rd.
Chatsworth, IL 60921PH: 815-689-2673FX: 815-689-2525
ABOVE: Jamie Stein, Assistant Operati ons Manager. RIGHT: Shane
Puls, Operati ons Support; Gloria Hitchens, Offi ce Manager; Jordan
Kintner, Operati ons Support
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Colfax
Colfax Branch200 South Brook StreetPO Box 236Colfax, IL 61728PH: 309-723-2611 FX: 309-723-6090
Sheryl Roelfs, Offi ce Manager; Dennis Farney, Locati on Supervisor; Brandon Bose, Operati ons Support
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Cropsey
Cropsey Branch103 South Main
PO Box 57Cropsey, IL 61731-0057
PH: 309-377-2141FX: 309-377-2018
Bill Farmer, Locati on Supervisor; Bill Kemmber, Offi ce Manager and Branden Kruse, Operati ons Support.
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Cullom
Cullom Branch121 North Maple StretPO Box 296Cullom, IL 60929PH: 815-689-2130FX: 815-689-2717
Brad Wallrich, Locati on Supervisor; Susan Deany, Offi ce Manager; Logan Spenard, Operati ons Support
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Gibson City - Middle & West
Gibson City - Middle220 West 8th Street
PO Box 546Gibson City, IL 60936
PH: 217-784-5402FX: 217-784-5965
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(Right) Dennis Angus, Middle Locati on Supervisor; Clint Pearson,
Operati ons Support
(Bott om) Ed Kirkpatrick, Locati on Support ; Brett Dunn,
West Locati on Supervisor;
Gibson City - Middle & West
Corporate Offi ce, Gibson City - West1306 West 8th StreetPO Box 546Gibson City, IL 60936PH: 800-222-2451 / 217-784-4284FX: 217-784-8949
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GIBSON CITY WEST STAFF: Jeff Grider, Grain Originator and AgriVisor Coordinator; Joe Thompson, General Manager; Gary Allen, Operati ons Manager; J.B. Daughenbaugh, Grain Merchandiser; (Back) Angie Beach, Assistant Controller; Bonnie Voyles, Administrati ve Assistant; Sue Ann Har-sha, Administrati ve Assistant; Joy Boyce, Administrati ve Assistant; Teresa Steidinger, Grain Accounti ng Coordinator.
Adam Moritz, Grain Originator based at One Earth Energy
Melvin
Melvin Branch101 East Main Street
Melvin, IL 60952PH: 217-388-2261FX: 217-388-2855
Roger Ford, Operati ons Support and Kevin Redeker, Locati on Supervisor
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Saybrook
Saybrook Branch509 South Washington StreetSaybrook, IL 61770PH: 309-475-3361FX: 217-388-2855
Tom Williamson, Locati on Supervisor
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Sibley
Sibley Branch312 West Ohio Street
RR 1 Box 101KSibley, IL 61773
PH: 217-745-2336FX: 217-745-2505
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Dan Farmer, Locati on Supervisor and
Bonnie Wurmnest, Offi ce Manager
Transportation
Aaron Rickett s, Richard Hammond, Roger Ford, Kevin Redeker
Aaron Rickett s Richard Hammond
Roger Ford Kevin Redeker
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Maintenance
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Chris Bach and Kevin Bazzell
The Bloomer Line
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The Bloomer Line, shown loading at our Charlott e, Gibson City and Cullom locati ons, hauled over 10,000 carloads of grain this past year.