Agenda. Twentieth Annual Meeting Alliance Grain Co. North Park Pavilion - Gibson City, Illinois Tuesday, July 26, Meeting at 5:00 PM

Transcription

1 Annual Report

2 Agenda Twentieth Annual Meeting Alliance Grain Co. North Park Pavilion - Gibson City, Illinois Tuesday, July 26, Meeting at 5:00 PM Call to Order CURT MEINER Invocation PASTOR STEPHEN GOODWIN Meeting Notice & Certification of Quorum DENNIS HELMERS Introduction of Directors CURT MEINER Financial Report JOE THOMPSON Manager s Report JOE THOMPSON Election Results, Chair of Nominations BRIAN DAMERON Other Business CURT MEINER Door Prizes CURT MEINER Adjournment CURT MEINER Dinner TOM YOUNG CATERING Alliance Grain Co. Corporate Headquarters 1306 West 8th Street Post Office Box 546 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 Bob Crego Director, District 7 Mark Kerber Director, District 10 3

4 Balance Sheet ALLIANCE GRAIN CO. BALANCE SHEET as of May 31, 2011 Statement of Income (Loss) ALLIANCE GRAIN CO. STATEMENT OF INCOME (LOSS) 12 months ended May 31, 2011 ASSETS CURRENT ASSETS Cash and Short Term Investments 478,633 Receivables 21,246,006 Inventories 64,557,456 Prepaid Expenses 195,154 Total Current Assets $ 86,477,249 Investments in other Corporations $ 3,956,975 Property, Plant & Equipment $ 20,159,701 TOTAL ASSETS $ 110,593,925 LIABILITIES AND STOCKHOLDERS EQUITY CURRENT LIABILITIES Grain Payables 17,894,243 Other Payables 7,000,527 Notes Payable 48,342,781 Total Current Liabilities $ 73,237,551 LONG-TERM LIABILITIES Long Term Note Payable 6,056,000 Other Deferred Payables 2,793,131 Total Long-term Liabilities $ 8,849,131 TOTAL LIABILITIES $ 82,086,682 STOCKHOLDERS EQUITY Capital Stock & Credits $ 7,389,645 Retained Income $ 21,117,598 Equity For Investment $ 0 Total Stockholders Equity $ 28,507,243 TOTAL LIABILITIES & STOCKHOLDERS EQUITY $ 110,593,925 Volume (Bushels Sold) 65,058,827 Sales $ 400,309,578 Gross Trading Income $ 10,481,403 Service Income Grain Drying 1,281,063 Grain Storage & PL Charges 2,350,181 Rental Income 58,100 Other Income 163,530 Total Service Income $ 3,852,874 TOTAL GROSS INCOME $ 14,334,277 Operating Expenses People & Related Expenses 3,545,449 Facility Expenses 4,939,519 Administrative Expenses 1,141,742 Interest - Seasonal 798,484 Total Operating Expenses $ 10,425,304 NET OPERATING INCOME $ 3,908,973 Other Income Gain on Involuntary Conversion 417,525 Gain on Sale of Marketable Securities 109,075 Patronage Dividend Income 150,789 Income (Loss) from Subsidiaries (175,731) Total Other Income $ 501,658 NET INCOME (LOSS) BEFORE TAXES $ 4,410,631 Federal and State Tax (1,256,343) NET INCOME (LOSS) AFTER TAXES $ 3,154,288 BU 4 5

5 Changes in Financial Position ALLIANCE GRAIN CO. STATEMENT OF CHANGES IN FINANCIAL POSITION 12 months ended May 31, 2011 SOURCES OF WORKING CAPITAL Net Income for the Year 3,154,288 Add (Deduct) Items Not Affecting Working Capital: Depreciation & Amortization 2,085,634 Non cash Patronage Refund Received (52,173) Income Taxes Deferred 936,220 Joint Venture (Income) Loss _ 175,731 Working Capital Provided from Operations $ 6,299,700 Stock Redemptions 21,498 Gain on Marketable Securities 14,288 TOTAL SOURCES $ 6,335,486 USES OF WORKING CAPITAL Purchase of Property, Plant & Equipment 5,271,421 Retirement of Capital Stock 815,754 Retirement of Long-Term Debt 919,000 Increase in Notes Receivable 2,500,000 Other 72,565 LOCATIONS TOTAL USES $ 9,578,740 INCREASE (DECREASE) IN WORKING CAPITAL $ (3,243,254) WORKING CAPITAL - Beginning of Year $ 16,482,952 WORKING CAPITAL - END OF YEAR $ 13,239,698 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 ABOVE: The new Anchor office under construction. RIGHT: Garry Cole, Location Supervisor and Jonathan York, Operations Support. Not pictured: Terry Benway LEFT: Gary Meier, Location Supervisor; Chare Robinson, Office Manager 8 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: Christine Graveson, Office Manager; Dan Gray, Operations Support; Shaun 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 ABOVE: Jamie Stein, Assistant Operations Manager. RIGHT: Shane Puls, Operations Support; Gloria Hitchens, Office Manager; Jordan Kintner, Operations Support LEFT: Sheryl Roelfs, Office Manager; Dennis Farney, Location Supervisor; Brandon Bose, 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 RIGHT: Matt Dunn, Central Area Support; Bill Kemmer, Office Manager; Bill Farmer, Location Supervisor; Branden Kruse, Operations Support; Jessica McCabe, Office. ABOVE: Brad Wallrich, Location Supervisor; Susan Deany, Office Manager; Logan Spenard, Operations Support TOP OF PAGE: Cullom South. ABOVE: Cullom North 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: Clint Pearson, Operations Support; Dennis Angus, Middle Location Supervisor; Myron Shelton, Operations Support BOTTOM: Ed Kirkpatrick, Location Support; Brett Dunn, West Location Supervisor GIBSON CITY WEST STAFF: Jeff Grider, Grain Originator and AgriVisor Coordinator; Joe Thompson, General Manager; Gary Allen, Operations Manager; J.B. Daughenbaugh, Grain Merchandiser. BACK ROW: Angie Beach, Assistant Controller; Bonnie Voyles, Administrative Assistant; Sue Ann Harsha, Administrative Assistant; Joy Boyce, Administrative Assistant; Teresa Steidinger, Grain Accounting Coordinator. LEFT: Adam Moritz, Grain Originator based at One Earth Energy 16 Gibson City - Middle 220 West 8th Street PO Box 546 Gibson City, IL PH: FX: Corporate Office, Gibson City - West 1306 West 8th Street PO Box 546 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 ABOVE: Aaron Ricketts, Richard Hammond, Roger Ford, Kevin Redeker. NOT PICTURED: Randy York RIGHT: Dan Farmer, Location Supervisor and Bonnie Wurmnest, Office Manager Aaron Ricketts Richard Hammond 20 Sibley Branch 312 West Ohio Street RR 1 Box 101K Sibley, IL PH: FX: Roger Ford Kevin Redeker 21

13 Maintenance The Bloomer Line RIGHT: T.J. Mygatt and Kevin Bazzell. NOT PICTURED: Chris Bach The Bloomer Line, shown loading at our Charlotte, Gibson City and Cullom locations, hauled over 10,000 carloads of grain this past year

14 Notes Location Map

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