Brief Summary of Minutes of Annual Meeting

John Park called the meeting to order at 5:00 p.m. 1. Chair Report Size of NCERA-210 issues Renewal was successful and received very positive comments. A key to having success in future renewals of NCERA-210 is to report to USDA is to share projects that show multi-state collaboration. Therefore, we need to continue to promote and collaborate on these types of projects (such as submitting an symposia proposal to the 2014 AAEA meeting). Finally, John will pull together annual report for NCERA-210 (publications, post minutes on website, etc.) 2. Administrative Advisor Report No report submitted by Stephen Lovejoy. 3. Secretary Report Approval of 2012 minutes as presented by Brian Briggeman. Phil moved to accept 2012 minutes as presented. Sanjib seconded motion. Vote was unanimous approval. 4. Treasurer Report Brent Hueth reported that in 2012 NCERA-210 had net earnings of $701 and a total account balance of $3,135.07. Phil moved to accept treasurers report. Mike B. seconded motion. Vote was unanimous approval. 5. eXtension Update Phil reported that he works closely with eXtension to ensure cooperatives have a presence on this website. He announced future webinars are in the planning stages and will be forthcoming in 2014. Also, the NCERA-210 membership was asked to consider positing articles relevant for cooperatives on the website. Social media exposure, such as blogs and Facebook, are being pursued. A significant challenge facing the cooperative portion of eXtension is getting a critical mass to direct stakeholders to the website. 6. Journal of Cooperatives Phil, editor of the journal, reported he needs article submissions and promised quick turnarounds. International submissions have been up. Phil is in the process of finding a permanent website home for the journal (IAMA? Buy a domain name?). 7. Other NCERA-210 Issues - Organization of co-op AAEA symposia - Sanjib reported that he will be conducting a survey of the NCERA-210 membership - To boost attendance at NCERA-210, it was suggested that we engage co-op development centers across the U.S., especially employees who are engaged with working with co-op startups - Need to update the dated website information about NCERA-210 (Phil volunteered to help the next executive committee) 8. 2014 NCERA-210 Officer Election Chair  Sanjib Vice Chair  Brian Treasurer  Brent Nominations for Secretary: Keri, Phil moved to accept the 2014 slate of officers. Mike seconded the motion. Vote was unanimous approval. 9. Adjournment Sanjib moved to adjourn the meeting. Keri seconded the motion. Vote was unanimous approval.

OBJECTIVE 1. To promote and coordinate timely research on cooperatively owned business organizations for agricultural marketing, agricultural input supply, vertical coordination through value added processing, and rural services. Accomplishments of Objective 1 during 2013: Members of NCERA-210 continue to coordinate research and education efforts for the improvement of cooperative performance. A major accomplishment of the NCERA-210 is the continued publication of the Journal of Cooperatives. NCERA-210 member Phil Kenkel continues to serve as editor for the Journal and NCERA-210 members are frequent contributors as well as frequently serving as reviwers. In addition to these major national activities, NCERA-210 members are making full use of the committee infrastructure to communicate the results of their research to each other. During 2013, 23 NCERA-210 members participated in sharing research results during the annual meeting. PRESENTATIONS FROM ANNUAL MEETING CHS Cooperative Education University Initiative, William Nelson and Jessica Lamker, CHS, Inc.; Agency Costs of Debt in Agricultural Cooperatives, Brian Briggeman, Kansas State University; Analysis of Minnesota Chapter 308B Cooperatives, David Massaglia, Metropolitan State University; Using a Financial Simulator in Cooperative Unification Studies, Phil Kenkel, Oklahoma State University; The Effects of Cooperative Ownership on Plant-Level Productivity, Christopher Kanter, University of Wisconsin; Industry Needs from NCERA-210, Robert Doane, CoBank; Comparing Cooperative Principles of the USDA and the International Cooperative Alliance, Bruce Reynolds, USDA/RD/Cooperative Programs; The Determinants of Occupational Safety in Cooperatives, Michael Boland, University of Minnesota; Risk and Return Tradeoffs in Partnering Strategies between Cooperatives and IOFs, Greg McKee, North Dakota State University; Missing Markets and Consumer Cooperation, Brent Hueth, University of Wisconsin; The Relative Equity Positions and Capital Efficiency of U.S. Agricultural Grain and Supply Cooperatives and Investor Owned Firms, Ziran Li, Iowa State University; The Collective Action and Social Capital: Links to Survivorship of Fraternals, Jim White, University of Wisconsin; NCERA-210 members also used the NCERA-210 web page and the list-server (described in more detail below) to communicate with each other. NCERA-210 members, as well as others interested in cooperatives, can access the selected papers presented at the each all meetings from the committee web page. Members also made use of the List Server (ncera-210@lists.wisc.edu) to facilitate communications among members. Messages sent to the list server are forwarded to all NCERA-210 participants. OBJECTIVE 2. To serve as a forum for industry and government decision makers in management and staff research positions to interact with land grant researchers and extension specialists to share research results and discuss implications for cooperative business organizations, their producer members, farm structure, efficiencies in food production and distribution, the environment and economic well being of rural communities. Accomplishments of Objective 2 during 2013 Members are intricately involved in the eXtension Cooperatives Community of Practice, and have initiated some promotion and education of cooperatives with FFA and other youth groups. Internship programs for college students seeking employment in the cooperative industry have been developed at Oklahoma State University, Texas A&M University, and elsewhere. Members participated in the development and presentation of a webinar on conducting annual meetings. In addition to these major activities as forum for industry decision maker, there were numerous collaborations among NCERA 210 members on education programs for cooperative directors. Leaders of NCERA-210 have received increased requests for information on membership and participation. A committee has been organized to recruit new members and improve member communication. Among targeted groups are Cooperative Development Centers, the Association of Cooperative Educators, and interested members from industry, especially among national federated cooperatives.

PEER REVIEWED Boland, M. and D. Barton, Overview of Research on Cooperative Finance Journal of Cooperatives, 27(2013):1-14. Lindsay, Morgan and Brian C. Briggeman, To Like or Not to Like: The Use of Social Media in Agribusiness Firms, Journal of Extension, 2014 Forthcoming Chaddad, F.R. and Iliopoulos, C. Control Rights, Governance and the Costs of Ownership in Agricultural Cooperatives, Agribusiness: An International Journal, 29(1): 3-22, 2013. Costa, D.M., Chaddad, F.R. and Azevedo, P.F. The Determinants of Ownership Structure: Evidence from Brazilian Agricultural Cooperatives, Agribusiness: An International Journal, 29(1): 62-79, 2013. Schmit, Todd M., and Jeffrey S. Hall. "Implications of Agglomeration Economies and Market Access for Firm Growth in Food Manufacturing." Agribusiness (2013). Hueth, Brent, and P. Marcoul, "Agents Monitoring Their Monitor: A Hard-Times Theory of Producer Cooperation," Forthcoming in the Journal of Economics and Management Strategy. OTHER Hueth, Brent, and Tomohiko Yano. "Ownership Structure and CEO Pay: Evidence from Member Owned Firms." In 2013 Annual Meeting, August 4-6, 2013, Washington, DC, no. 150180. Agricultural and Applied Economics Association, 2013. Hueth, Brent. "Missing Markets and Consumer Cooperation." In 2013 Annual Meeting, August 4-6, 2013, Washington, DC, no. 150182. Agricultural and Applied Economics Association, 2013. Hueth, Brent, and Christopher W. Taylor. "Spatial Price Discrimination and Transportation Inefficiency: A Study of the Wisconsin Milk Hauling Industry." (2013). Brown, Lisa N., Philip L. Kenkel, Rodney B. Holcomb, and Traci J. Naile. "Factors Contributing to Effective US Cooperative Member-owner Communications." In 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida, no. 143027. Southern Agricultural Economics Association, 2013. Sporleder, Thomas L., and Michael A. Boland. "SEVEN FUNDAMENTAL ECONOMIC CHARACTERISTICS EXCLUSIVITY OF AGRIFOOD SUPPLY CHAINS (part 1)." Economy of Region/Ekonomika Regiona 3 (2013). Dudensing, R. and J.L. Park. Assessing Economic Impacts of Agricultural Cooperatives. Mid-Continent Regional Science Association conference, Kansas City, MO, May 2013. Pancharatnam, P., J.L. Park, A.D. Hagerman, and M. Murch. Improving Our Understanding of the Conduct and Performance of Cooperative Businesses Using Directed Acyclic Graphs. Agricultural and Applied Economics Association Annual Meeting, August 4-6, 2013, Washington, DC. http://purl.umn.edu/150784 Briggeman, Brian C. and Chuck Mickelsen, Equity Composition of Kansas Grain, Oilseed and Farm Supply Cooperatives, ACCC Fact Sheet Series, January 2013 Merrett, Christopher D., Frederick Iutzi, Erin Orwig, Sarah Shike, and Heather McIlvaine-Newsad. 2013. Trends in Local Food Production: The Growing Importance and Impacts of Community Supported Agriculture in the United States. In Local Food Networks and Activism in the Heartland, edited by Thomas Sadler, Bill Knox and Heather McIlvaine-Newsad, pp. 94-111. Champaign, IL: Common Ground Press. Merrett, Christopher D., Kara Garten, John Ceglarak, Lori Sutton, and Norman Walzer. 2013. Bibliography of Cooperatives and Cooperative Development, 2nd Edition. Macomb, IL: IIRA and USDA. Online: http://www.value-added.org.