Brief Summary of Minutes of Annual Meeting

Minutes of NCERA-210 Annual Business Meeting

November 4, 2020

Meeting Conducted Online

Matthew Elliot, NCERA-210 Chair, presiding.

Matt Elliott called the meeting to order at 1:00 p.m.

The group provided an update of current activities. These activities include:

• Secor: research on bankruptcy and section 199
• Worley: USDA Rural Development application for WV, OH on rural broadband and wood products
• Nelson: conducting a review of UWCC, looking for ways to help fund initiatives
• Park: teaching impacted by pandemic, 50^th anniversary of Roy B. Davis Chair at TA&M, UT Coop Development Center in the Rio Grande Valley and Austin
• UWCC: hosting the Farmers’ Cooperative Conference
• Schmit: research, AFRI grant, working with students on group projects specifically “Grand Challenges”
• Severson: paper on economic development and impact of cooperatives
• Schweiss: teaching a coop class, assembled a brochure, a number of “little things”
• Kenkel: 3 research projects (cotton warehouses, cooperative taxes and equity, cooperative alliances), Coop Council work on soft skills
• Kopka/Boland: coop video
  • Cook: how can we bring this to market, ability to add/subtract modules, send links
  • Nelson: governance, how can Ralph Morris Foundation help?
  • Product-centric launch
  • Coop Councils for distribution
  • Not grant dependent,
  • Boland: think of audience, how drive adoption
• Briggeman: skills gap analysis for direction
  • What is it a director needs to be able to do? Are they getting better?
  • Overlap with FCS?
  • Park: student’s dissertation
• Elliott: cooperative risk, Ag leadership group
• White: teaching cooperative classes, rural broadband initiative with Cooperative Network and other groups in WI

Matt Elliott provided the Chairperson’s report:

• With Brent Hueth’s departure to ERS, we need a new Treasurer. Kenkel moved to appoint Megan Webster to this position, Park seconded. Motion passed unanimously
• The group discussed track sessions for the next AAEA meeting, specifically on the topic of risk management. The group also discussed whether we should continue to work with the lightning round format at AAEA and whether the videos were on the website.
• Olson moved the date and location for the next NCERA-210 annual meeting be coordinated with the 2021 Farmer Cooperatives Conference, Cook seconded. Motion passed unanimously
• The NCERA-210 Administrative Advisor, Dr. Allen Featherstone, has submitted a written report. The committee report has been submitted and Dr. Featherstone encouraged all committee members to document the output and potential impact of our research efforts.

Megan Webster provided the Treasurer’s Report:

• The NCERA-210 section has a surplus of approximately $4,100.00.
• Matthew Elliott will work with William Nelson on poster sessions for future section meetings.

Phil Kenkel provided a report on the Journal of Cooperatives:

• There is currently a theme issue under development, otherwise things are going well.
• Kenkel encouraged members to submit articles.
• Boland inquired whether the Journal of Cooperatives should be listed in the Social Science Information (SSI) and Scopus journal ranking systems to increase the impact factor for the journal.
• Regarding eXtension, this effort is “in remission” given the pandemic and has no new contect. Park and Gardner volunteered to help generate new content. Nelson suggested including a broader array of factors.

Justin Gardner was nominated to be the incoming Secretary and executive committee member.  Olson moved that nominations cease, and a unanimous ballot be cast for Justin Gardner.  Briggeman seconded the motion.  Motion passed.

The 2021 NCERA-210 officers will be

• Frayne Olson – Chair
• James White– Vice-Chair
• Justin Gardner – Secretary
• Megan Webster – Treasurer

Meeting was adjourned at 2:52 p.m..

James M. White - Secretary

The members of the NCERA-210 committee have been working for several years to delveop and deliver a virtual cooperative director training program.  Dr. Michael Boland and Dr. Keri Jacobs have been leading this effort.  Eleven comittee members, along with one industry contributer, are nearing the completion of the program curriculum and material development.  The program will be available nation wide in 2021.  This effort combined applied research results with the collective classroom and extension experience of the NCERA-210 committee members to prioritize and create the training materials.  Multiple virtual meetings were held to discuss anc coordinate activities.

During the NCERA-210 meeting, the results from seven ongoing reserach efforts were presented and discussed.

Below is a list of professional conference presentations, book chapters, digital media products and extension/outreach activities during 2020 conducted by NCERA-210 committee members:

Book Chapters:

Boland, M. A. (2020). Fiduciary Duties of Directors Part 1. New Director Training Workbook (pp. 92-99). [Accepted: December, 2020]

Boland, M. A. (2020). Fiduciary Duties of Directors Part 2. New Director Training Workbook (pp. 100-106). [Accepted: December, 2020]

Boland, M. A. (2020). Income or Profit Distribution. New Director Training Workbook (pp. 77-84). [Accepted: December, 2020]

Friend, D. and J.L. Park. 2020. “Developing New Directors for Effective Governance.” Chapter in: New Director Training Workbook, Edited by M.A. Boland and C. L. Kopka. Lulu.com Publishing, pp. 113-116.

Park, J.L. and D. Friend. 2020. “Strategic Thinking, Part Two.” Chapter in: New Director Training Workbook, Edited by M.A. Boland and C. L. Kopka. Lulu.com Publishing, pp. 124-131.

Digital Media:

Boland, M. A. (2020). Fiduciary Duties of Directors Part 1. New Cooperative Director Foundations Program. https://cacdd.thinkific.com/courses/copy-of-foundations-new-agricultural-cooperative-director-training[ Accepted: December, 2020]

Boland, M. A. (2020). Income or Profit Distribution. New Cooperative Director Foundations Program. https://cacdd.thinkific.com/courses/copy-of-foundations-new-agricultural-cooperative-director-training[ Accepted: December, 2020]

Digital Media Producer:

Boland, M. A. (2020). Fiduciary Duties of Directors Part 2. New Cooperative Director Foundations Program. https://cacdd.thinkific.com/courses/copy-of-foundations-new-agricultural-cooperative-director-training[ Accepted: December, 2020]

(2020). In M. A. Boland & C. L. Kopka (Eds.), New Cooperative Director Foundations Program. https://cacdd.thinkific.com/courses/copy-of-foundations-new-agricultural-cooperative-director-training. [Accepted: December, 2020]

Book Editor:

(2020). In M. A. Boland & C. L. Kopa (Eds.), New Director Training Workbook. [Accepted: December, 2020]

Extension/Outreach Activities:

Briggeman, B.C. and G. Mashange. “Rising Equity and Retained Earnings for U.S. Farmer Cooperatives.” ACCC Fact Sheet Series, December 2020.

Briggeman, B.C. “Agricultural and Interest Rate Outlook: What it Means for Co-ops.” MACC Webinar, virtual meeting, November 2020.

Briggeman, B.C. “Understanding Equity Options.” Kansas Cooperative Council Board Chair School, Dodge City, KS, November 2020.

Briggeman, B.C. “Financial Outlook for Farmer Cooperatives.” GROWMARK Emerging Leaders Program, West Lafayette, IN, November 2020.

Briggeman, B.C. “Agricultural Credit Markets in the United States.” Ukrainian Farmland Reform Summit, virtualpresentation, October 2020.

Briggeman, B.C. “Macroeconomic and Interest Rate Outlook.” Ag Lenders Conference, Salina, KS, September 2020.

Briggeman, B.C. “DuPont Profitability Model.” Syngenta Agribusiness Accelerator Program, virtual presentation, September 2020.

Briggeman, B.C. “Financial Drivers for U.S. Agriculture.” Syngenta Agribusiness Accelerator Program, virtual presentation, September 2020.

Briggeman, B.C. “Question and Answer Discussion on the Macroeconomy.” Risk and Profit Virtual Conference. August 2020.

Briggeman, B.C. “Macroeconomy, Interest Rates, and Future Inflation.” Risk and Profit Virtual Conference. August 2020.

Briggeman, B.C. “Patronage and Equity.” Key Cooperative’s Strategic Planning Session. Grinnell, IA. July 2020.

Briggeman, B.C. “Co-ops 101 for Employees.” Kansas Cooperative Council’s Co-op Academy. Wichita, KS. July 2020.

Briggeman, B.C. “Are Farmer Cooperatives Transitioning from Cost Minimizers to Profit Maximizers?” Texas Agricultural Cooperative Council’s Lunch and Learn Virtual Program. July 2020.

Briggeman, B.C. “Methods for Distributing Income in a Grain Alliance.” CoMark Equity Alliance. Virtual Meeting. June 2020.

Briggeman, B.C. “Co-ops 101 for Cooperative Interns.” Kansas Cooperative Council. Virtual Meeting. May 2020.

Briggeman, B.C. “U.S. Agriculture Outlook.” ABSA Group Limited in South Africa. Virtual Meeting. May 2020.

Briggeman, B.C. “Equity Management Options.” Board Meeting with Cooperative Grain and Supply – Bazine, Kansas. Virtual meeting. April 2020.

Briggeman, B.C. “Virtual Roundtable on the Small Business Administration (SBA) Paycheck Protection Program (PPP).” Online Video available on www.agmanager.info, April 2020.

Briggeman, B.C. “Economics of Agriculture During the COVID-19 Pandemic: A Series of Online Gatherings – Government Stimulus Programs for Ag Producers and Co-ops.” Online Video available on www.agmanager.info, April 2020.

Briggeman, B.C. “Economics of Agriculture During the COVID-19 Pandemic: A Series of Online Gatherings – Macroeconomic Update.” Online Video available on www.agmanager.info, March 2020.

Briggeman, B.C. “KSU Cooperative Benchmarking Tool – Garden City Cooperative.” Garden City Cooperative Board of Directors virtual meeting, Garden City, KS, March 2020.

Briggeman, B.C. “Federal Reserve’s Response to COVID-19 and Implications for Agriculture.” Online Video available on www.agmanager.info, March 2020.

Briggeman, B.C. “Introduction to the Cooperative Model.” Cooperative Academy: Merchandising, Kansas Cooperative Council, Manhattan, KS, February 2020.

Briggeman, B.C. “Value of Cooperatives.” MKC Emerging Producer Program, Manhattan, KS, January 2020.

Briggeman, B.C. “KSU Cooperative Financial Benchmarking Tool – Sublette Cooperative.” Sublette Cooperative Strategic Planning Meeting, Wichita, KS, January 2020.

Briggeman, B.C. “KSU Cooperative Financial Benchmarking Tool for CoBank Relationship Managers.” CoBank GFS COE Annual Meeting, Minneapolis, MN, January 2020.

Briggeman, B.C. “Kansas Cooperative Landscape and KSU Cooperative Financial Benchmarking Tool – Alliance Ag.” Alliance Ag & Grain Strategic Planning Meeting, Mulvane, KS, January 2020.

Briggeman, B.C. “Kansas Cooperative Landscape and KSU Cooperative Financial Benchmarking Tool – Skyland Cooperative.” Skyland Grain, LLC Strategic Planning Meeting, Manhattan, KS, January 2020.

Jacobs, K. “Cooperatives: The Workhorse of Agriculture and Champion of Capitalist Economies.”  Land O’Lakes Global Food Challenge Internship Workshop.  June 29, 2020.

Jacobs, K. “Thoughts on Growth and Co-op Culture Development.”  Cooperative Lunch and Learn, Texas A&M University.  June 18, 2020.

Jacobs, K. “Leadership Challenges Unique to Ag Co-ops.”  Executive MBA Leadership Speaker Series, Ivy College of Business, Iowa State University, Ames, Iowa.  March 27, 2020.

Jacobs, K. “Board Principles and Practices.”  21st Century Cooperative Board Retreat, Omaha, Nebraska.  January 31, 2020.

Jacobs, K. “Cooperative Foundations.”  Co-op Intern and New Employee Webinar, Summer 2020 Cooperatives Course, Iowa Institute for Cooperatives.  May 26, 2020.

Jacobs, K. Annual Board Training Workshops in Iowa, Nebraska, and Minnesota “Co-op Board Strategic Engagement During Challenging Economic Conditions.”  Minnesota Grain and Feed Association Annual Convention, Bloomington, Minnesota. March 4, 2020.

Jacobs, K. “Cooperative Financial Statements and Analysis.”  Phase 3, Director Certification Program, Iowa Institute for Cooperatives, Cedar Falls, Iowa.  January 24, 2020.

Jacobs, K. “Co-op 101: Organizational Structure, History, and Director Responsibilities and Roles.”  Phase 1, Director Certification Program, Iowa Institute for Cooperatives, Storm Lake, Iowa. January 21, 2020.

Jacobs, K. “Board Leadership and Strategic Planning.” Phase 2, Director Certification Program, Nebraska Cooperative Council, Kearney, Nebraska.  January 8, 2020.

Jacobs, K. “Cooperative Financial Statements and Analysis.”  Phase 3, Director Certification Program, Nebraska Cooperative Council, Kearney, Nebraska. January 7, 2020.

Park, J.L. and D. Friend. “Developing Your Cooperative Strategy.” Cooperative Management Letter, Department of Agricultural Economics, Texas A&M University, CML 20-02, November 2020.

Park, J.L. and D. Friend. “Resilient by Design.” Cooperative Management Letter, Department of Agricultural Economics, Texas A&M University, CML 20-01, July 2020.

Schmit, T.M. 2020. “What do farmers think about milk pricing?” Hoards Dairyman Intel, 20 January.

Conferences – University of Wisconsin Center for Cooperatives:

Farmer Cooperatives Conference, November 5-6, 2020. Offered virtually, the Farmer Cooperatives Conference hosted 170 farmer cooperative leadership to explore current issues that will share the future of farmer-owned cooperatives

Consumer Cooperative Management Association Conference, June 8-12, 2020. Offered virtually due to the pandemic, CCMA 2020 was the largest gathering of grocery cooperative leaders with 822 attendees from 95 cooperatives across the U.S. and Canada.

Cooperative Director Forums – UWCC staff pivoted to virtual events for our cooperative director education with 270 attendees over the five sessions.

MOSES Conference - In February 2020, the Midwest Organic and Sustainable Education Service (MOSES) invited UWCC staff to present both a full-day “Organic University” course and a shorter workshop on starting producer-owned cooperatives as part of their national Organic Farming Conference (OFC) in La Crosse, WI.

Employee Ownership Roadshow -UWCC partnered with Cooperative Development Services and University of Minnesota Extension to promote employee ownership as a business and job retention strategy. In March, the project team delivered the curriculum in an 8-stop “roadshow” to over 100 attendees in eastern Minnesota and western Wisconsin. The group followed up with a webinar in August that had 70 attendees.

Research – Peer Reviewed - Accepted

Boland, M.A., Briggeman, B.C., Jacobs, K., Kenkel, P., McKee, G. and Park, J.L. (2021), Research Priorities for Agricultural Cooperatives and their Farmer‐Members. Applied Economic Perspectives and Policy. https://doi.org/10.1002/aepp.13068

Clymer, A.C., B.C. Briggeman, and J.C. Leatherman. “Estimating the Value of Local Ownership to a State’s Economy: The Case of Kansas Farmer Cooperatives.” Journal of Cooperatives 35(2020): 1-39.

Grashuis, Jasper, and Jason Franken. Exit strategies of farmer co-peratives in the United States: A competing risks analysis. Journal of Co-operative Organization and Management. December 2020.

Hanson, E. D., & Boland, M. A. (2020). Safety Climate at Agribusiness Cooperative Retailers. Journal of Safety Research. [Accepted: September, 2020] 

McKee, G., K. Jacobs, and A. Kagan. 2020. “Trade Credit Use in Agricultural Cooperatives:  Pricing and Firm Performance.”  Journal of Cooperatives 35:74-101.

Munch, D.M., T.M. Schmit, and R.M. Severson. 2020. A descriptive analysis of milk pricing attribute values for cooperative & independent milk handlers in New York State. Journal of Cooperatives 35:40-73.

Research – Peer Articles – Under Review or Submission:

Mashange, G., A.M. Featherstone, and B.C. Briggeman. “Credit Rating Transitions of Farmer Cooperatives.” Being prepared for submission to American Journal of Agricultural Economics.

Munch, D.M., T.M. Schmit, & R.M. Severson. Assessing the value of cooperative membership: A case of dairy marketing in the United States. Under Review (1^st Revision Under Review): Journal of Co-operative Organization and Management. January 2021.

Newman, C., B.C. Briggeman and J. Bergtold. “The Economic Value of Trust.” Being prepared for submission to American Journal of Agricultural Economics.

Regmi, M., B.C. Briggeman, and A.M. Featherstone. “Effects of Crop Insurance on Farm Input Use: Evidence from Kansas Farm Data.” Being prepared for submission to Agricultural Economics.

Schmit, T.M. & R.M. Severson. Exploring the feasibility of rural broadband cooperatives in the United States: the new New Deal? Under Review (1^st Revision Under Review), Telecommunications Policy, December 2020.

Research – Professional Conference Presentations:

Kashyap, D. & Bhuyan, S. 2020. "Member Participation and Satisfaction in Agricultural Cooperatives: A Pilot Study of the Largest Dairy Cooperative in Northeast India." Poster accepted for presentation at the 2020 AAEA annual meetings, Kansas City, MO, July 26-28. 

Bhuyan, S. 2020. "Importance of organizational effectiveness (OE) in cooperative enterprises." Invited paper, the New Agriculture-New Cooperatives: Toward a new paradigm of collaborations for the New Generation, 28th Agrotica, Thessaloniki, Greece, Jan 31, 2020.

Secor, W. and Boland, M. A. NCERA 210 research on Cooperatives, "Section 199 and Agribusiness Investment Decisions." (November 4, 2020).

Boland, M. A. Cooperative Education Workshop Webinar, "Current Issues in Agricultural Cooperatives," Texas A&M Agrilife, College Station, Texas, United States. (August 22, 2020).

Boland, M. A. Texas A&M Agrilife Cooperative Education Workshop, "UMN Director Leadership Workshop: Current Governance Topics," Texas A&M Agrilife / Texas Agricultural Cooperative Council, Amarillo, Texas. (February 2, 2020).

Boland, M. A. UMN Director Leadership Workshop, "Ethical Disclosures and Conflicts of Interest," UMN and Cooperative Network, Mankato, Minnesota, United States. (January 9, 2020).

Boland, M. A. , UMN Director Leadership Workshop, "Audit Committee Functions," UMN and Cooperative Network and CoBank, Mankato, Minnesota, United States. (January 8, 2020).

Schmit, T.M. 2020. Assessing the Value of Agricultural Cooperative Ownership. Farmer Cooperatives Conference. 05 November 2020.

Schmit, T.M. 2020. Assessing the Value of Agricultural Cooperative Ownership. Selected Paper, NCERA-210 Annual Meeting, 04 November 2020. Cornell’s Cooperative Enterprise Program, NECC Annual Leaders Forum, Northeast Cooperative Council, Syracuse, NY, 27 February 2020.

Schmit, T.M. & R.M. Severson. Exploring the feasibility of rural broadband cooperatives in the United States: the new New Deal? Under Review (1^st Revision Under Review), Telecommunications Policy, December 2020.

Master of Science Thesis:

Munch, D.M. 2020. Assessing the value of agricultural cooperative membership: A case of dairy marketing in the United States. M.S. Thesis, Cornell University.