Alliance Grain Co. ANNUAL REPORT

Transcription

1 Alliance Grain Co. ANNUAL REPORT

2 Agenda Twenty-Second Annual Meeting Alliance Grain Co. North Park Pavilion - Gibson City, Illinois Tuesday, July 30, Meeting at 5:00 PM Call to Order CURT MEINER Invocation REV. CORRINE BLISSARD Meeting Notice & Certification of Quorum DENNIS HELMERS Introduction of Directors CURT MEINER Financial Report TODD STEINBERG Manager s Report JOE THOMPSON Election Results, Chair of Nominations KEITH DEFRIES Other Business CURT MEINER Door Prizes CURT MEINER Adjournment CURT MEINER Dinner BERNARDI S II Alliance Grain Co. Corporate Headquarters 1306 West 8th Street Gibson City, Illinois PH: FX: Mission Statement Alliance Grain Co. is a farmer-owned cooperative providing grain marketing and handling services focused on enhancing the profitability of its farmer-owners while preserving the financial integrity of the cooperative.

3 Board of Directors About Us Established in 1991, Alliance Grain Co. is a farmer-owned elevator system that includes thirteen elevators throughout East Central Illinois. Alliance Grain has operations in Anchor, Bellflower, Cabery, Campus, Charlotte, 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 locations. Curt Meiner President, District 8 Wayne Morrison Vice-President, District Dennis Helmers Secretary, District 9 On a daily basis, the services of Alliance Grain include grain storage, marketing assistance and off-farm hauling, to name a few, all at competitive prices. Being farmer-owned has helped us visualize all aspects of agricultural production. Shareholders (producers) elect board members from 10 districts. These 11 board members, with one at large, discuss the operations of the elevator and represent their district. This management system has kept Alliance Grain Cooperative thriving these last 20 years. September Alliance Grain Cooperative is formed with a consolidation vote from the shareholders of Anchor Grain Co. and The Farmer s Grain of Gibson City. April Foosland Grain is acquired by contract with facilities at Foosland & Bellflower. Doug Brucker Treasurer, District 4 Bob Provin Director, District 1 August Farmer s Grain of Charlotte and shareholders voted to merge with Alliance Grain Co. September The Cullom elevator is acquired from Tri-Central Coop. July The shareholders of Sibley Grain Co. voted to merge with Alliance Grain Co. September Alliance Grain Co. purchased the Hamilton Elevator, with facilities in Campus, Cabery and Sunbury. Sunbury was later sold. Rick Young Director, District 2 David Butler Director, District 3 Rodney Landau Director, District 5 June Alliance Grain Co. purchased Ford Grain of Melvin to be the 13th Alliance location. With 13 locations, Alliance Grain s total capacity stands at over 22 million bushels. We are ready to serve you! 2 Phillip Moritz Director, District 6 John Harris Director, District 7 Mark Kerber Director, District 10 3

4 Balance Sheet ALLIANCE GRAIN CO. BALANCE SHEET as of May 31, 2013 Statement of Income (Loss) ALLIANCE GRAIN CO. STATEMENT OF INCOME (LOSS) 12 months ended May 31, 2013 ASSETS CURRENT ASSETS Cash and Short Term Investments 410,444 Receivables 8,943,899 Inventories 41,312,514 Prepaid Expenses 153,649 Total Current Assets $ 50,820,506 NON-CURRENT ASSETS Investments in other Corporations 4,103,636 Notes Receivable 1,750,000 Property, Plant & Equipment 24,735,694 Total Non-Current Assets $ 30,589,330 TOTAL ASSETS $ 81,409,836 LIABILITIES AND STOCKHOLDERS EQUITY CURRENT LIABILITIES Grain Payables 19,241,877 Other Payables 5,602,600 Notes Payable 14,844,056 Total Current Liabilities $ 39,688,533 LONG-TERM LIABILITIES Long Term Note Payable 9,644,800 Other Deferred Payables 3,196,605 Total Long-term Liabilities $ 12,841,405 TOTAL LIABILITIES $ 52,529,938 STOCKHOLDERS EQUITY Capital Stock & Credits $ 7,078,465 Retained Income $ 21,801,433 Total Stockholders Equity $ 28,879,898 TOTAL LIABILITIES & STOCKHOLDERS EQUITY $ 81,409,836 Volume (Bushels Sold) 52,393,856 Sales 440,750,594 Gross Trading Income $ 4,528,829 Service Income Grain Drying 2,432,310 Grain Storage & PL Charges 1,395,993 Rental Income 56,750 Other Income 203,273 Total Service Income $ 4,088,326 TOTAL GROSS INCOME $ 8,617,155 Operating Expenses People & Related Expenses 3,402,183 Facility Expenses 5,835,510 Administrative Expenses 758,558 Interest - Seasonal 589,707 Total Operating Expenses $ 10,585,958 NET OPERATING INCOME $ (1,968,803) Other Income Income From Other Investments 91,200 Patronage Dividend Income 432,123 Income (Loss) from Subsidiaries (204,974) Total Other Income $ 318,349 NET INCOME (LOSS) BEFORE TAXES $ (1,650,454) Federal and State Tax 642,369 NET INCOME (LOSS) AFTER TAXES $ (1,008,085) BU 4 5

5 Changes in Financial Position ALLIANCE GRAIN CO. STATEMENT OF CHANGES IN FINANCIAL POSITION 12 months ended May 31, 2013 SOURCES OF WORKING CAPITAL Net Income for the Year (1,008,085) Add (Deduct) Items Not Affecting Working Capital: Depreciation & Amortization 2,799,985 Noncash Patronage Refund Received (106,799) Income Taxes Deferred (344,296) Joint Venture (Income) Loss 204,974 Working Capital Provided from Operations $ 1,545,779 Decrease in Long-Term Notes Receivable 250,000 Stock Redemptions 4,981 Term Debt Infusion 0 TOTAL SOURCES $ 1,800,760 USES OF WORKING CAPITAL Purchase of Property, Plant & Equipment 4,682,388 Retirement of Capital Stock 83,974 Retirement of Long-Term Debt 1,205,600 Other 0 LOCATIONS TOTAL USES $ 5,971,962 INCREASE (DECREASE) IN WORKING CAPITAL $ (4,171,202) WORKING CAPITAL - Beginning of Year $ 15,303,175 WORKING CAPITAL - END OF YEAR $ 11,131,973 This report is a condensation of our auditors long form report which is available for your inspection at our corporate office in Gibson City, or from any of our Directors. If you have any questions about this statement or our financial condition, any director or the manager would be happy to discuss them with you. 6

6 Anchor Bellflower LEFT: Gary Meier, Location Supervisor; Chare Robinson, Office Manager 8 ABOVE: Teresa Steidinger, Grain Accounting Coordinator; Aimee Nugent, Office Manager; Jonathan York, Operations Support; Garry Cole, Location Supervisor. TOP: Continued construction at our Anchor facility. (June 2013) Anchor Branch 2W East Street PO Box 128 Anchor, IL PH: FX: Bellflower Branch 305 East Melvin Street PO Box 167 Bellflower, IL PH: FX:

7 Cabery Campus RIGHT: Michael Riedel, Location Supervisor LEFT: Todd Ashman, Operations Support; Christine Graveson, Office Manager; Shawn Edwards, Location Supervisor 10 Cabery Branch 305 East Main PO Box 171 Cabery, IL PH: FX: Campus Branch North 3300 East Rd. PO Box 118 Campus, IL PH: FX:

8 Charlotte Colfax LEFT: Dennis Farney, Location Supervisor; Jeff Grider, Grain Originator and AgriVisor Program; Marci Beitz, Office Manager BOTTOM: Brandon Bose, Operations Support ABOVE: Jamie Stein, Assistant Operations Manager. RIGHT: Shane Puls, Operations Support; Gloria Hitchens, Office Manager; Jordan Kintner, Operations Support 12 Charlotte Branch East 1300 North Rd. Chatsworth, IL PH: FX: Colfax Branch 200 South Brook Street PO Box 236 Colfax, IL PH: FX:

9 Cropsey Cullom ABOVE: Matt Dunn, Central Area Support RIGHT: Branden Kruse, Location Support; Bill Farmer, Location Supervisor; Jessica McCabe, Office Manager TOP OF PAGE: Cullom South. ABOVE: Cullom North ABOVE: Brad Wallrich, Location Supervisor; Susan Deany, Office Manager; Mike Eimer, Operations Support 14 Cropsey Branch 103 South Main PO Box 57 Cropsey, IL PH: FX: Cullom Branch 121 North Maple Street PO Box 296 Cullom, IL PH: FX:

10 Gibson City - Middle & West Gibson City - Middle & West RIGHT: Dennis Angus, Middle Location Supervisor; Myron Shelton, Operations Support BOTTOM: Ed Kirkpatrick, Location Support; Brett Dunn, West Location Supervisor GIBSON CITY WEST STAFF: Joe Thompson, General Manager; Gary Allen, Operations Manager; J.B. Daughenbaugh, Grain Merchandiser; Todd Steinberg, Controller. BACK ROW: Joy Boyce, Administrative Assistant; Bonnie Voyles, Administrative Assistant; Sue Ann Harsha, Administrative Assistant; Angela Beach, Administrative Assistant LEFT: Adam Moritz, Grain Originator based at One Earth Energy 16 Gibson City - Middle 220 West 8th Street Gibson City, IL PH: FX: Corporate Office, Gibson City - West 1306 West 8th Street Gibson City, IL PH: / FX:

11 Melvin Saybrook ABOVE: Roger Ford, Operations Support; Kevin Redeker, Location Supervisor ABOVE: Tom Williamson, Location Supervisor 18 Melvin Branch 101 East Main Street Melvin, IL PH: FX: Saybrook Branch 509 South Washington Street Saybrook, IL PH: FX:

12 Sibley Transportation Aaron Ricketts Richard Hammond RIGHT: Dan Farmer, Location Supervisor and Bonnie Wurmnest, Office Manager Roger Ford Kevin Redeker Randy York Kevin Bazzell 20 Sibley Branch 312 West Ohio Street RR 1 Box 101K Sibley, IL PH: FX:

13 Electrical & Maintenance The Bloomer Line ABOVE: Tracy Grider, Electrician RIGHT: Joe Hayes and Chris Bach, Maintenance The Bloomer Line, shown loading at our Charlotte, Gibson City and Cullom locations, hauled over 7,000 carloads of grain this past year

14 Notes Location Map

15