TWENTY-THIRD ANNUAL MEETING
NORTH PARK PAVILION – GIBSON CITY, ILLINOIS
TUESDAY, AUGUST 19, 2014 – MEETING AT 5:00 PM
AGENDA
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……………………………….. JERRY OYER
OTHER BUSINESS………………………………………………………………………… CURT MEINER
DOOR PRIZES………………………………………………………………………………. CURT MEINER
ADJOURNMENT………………………………………………………………………….. CURT MEINER
DINNER………………………………………………………………………………………. .BERNARDI’S II
BOARD OF DIRECTORS
CURT MEINER – PRESIDENT
DISTRICT 8, COLFAX
22 YEARS
WAYNE MORRISON – VICE PRESIDENT
DISTRICT 10, PIPER CITY
27 YEARS
DENNIS HELMERS – SECRETARY
DISTRICT 9, CROPSEY
24 YEARS
DOUG BRUCKER – TREASURER
DISTRICT 4, SIBLEY
17 YEARS
BOB PROVIN – DIRECTOR RODNEY LANDAU - DIRECTOR
DISTRICT 1, GIBSON CITY DISTRICT 5, ANCHOR
31 YEARS 5 YEARS
RICK YOUNG – DIRECTOR PHILLIP MORITZ - DIRECTOR
DISTRICT 2, SAYBROOK DISTRICT 6, BUCKINGHAM
17 YEARS 7 YEARS
DAVID BUTLER – DIRECTOR JOHN HARRIS - DIRECTOR
DISTRICT 3, ARROWSMITH DISTRICT 7, COLFAX
4 YEARS 3 YEARS
MARK KERBER – DIRECTOR
DISTRICT 10, CHATSWORTH
22 YEARS
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 & Middle), Melvin, Saybrook and Sibley. Eight of these elevators are rail load-out accessible via the Bloomer Line Railroad. Approximately 24 million bushels of grain can be stored at the thirteen locations.
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.
* September 1991 – Alliance Grain Co. is formed with a consolidation vote from the shareholders of Anchor Grain Co. and the Farmers Grain of Gibson City.
* April 1992 – Foosland Grain is acquired by contract with facilities at Foosland and Bellflower.
* August 1994 – Farmers Grain of Charlotte 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 facilities in Campus, Cabery and Sunbury. Sunbury was later sold.
* June 2006 – Alliance Grain Co. purchased Ford Grain of Melvin to be the 13th Alliance location.
BALANCE SHEET
as of May 31, 2014
ASSETS
CURRENT ASSETS
Cash and Short Term Investments 114,046
Receivables 6,323,073
Inventories 29,814,898
Prepaid Expenses 134,275
TOTAL CURRENT ASSETS $ 36,386,292
NON-CURRENT ASSETS
Investments in other Cooperatives 4,385,719
Notes Receivable 1,500,000
Property, Plant & Equipment 24,617,596
______
TOTAL NON-CURRENT ASSETS $ 30,503,315
TOTAL ASSETS $ 66,889,607
LIABILITIES AND STOCKHOLDERS EQUITY
CURRENT LIABILITIES
Grain Payables 17,729,901
Other Payables 4,916,459
Notes Payable – Current 4,181,894
______
TOTAL CURRENT LIABILITIES$ 26,828,254
LONG-TERM LIABILITIES
Long-Term Notes Payable 8,439,200
Other Deferred Payables 3,046,543
TOTAL LONG-TERM LIABILITIES$ 11,485,743
STOCKHOLDERS EQUITY
Capital Stock & Credits 6,970,933
Retained Income 21,604,677
TOTAL STOCKHOLDERS EQUITY$ 28,575,610
TOTAL LIABILITIES & STOCKHOLDERS EQUITY$ 66,889,607
STATEMENT OF INCOME (LOSS)
12 months ended May 31, 2014
Volume (Bushels Sold) 55,831,372 BU
Sales 344,527,167
Gross Trading Income $ 2,685,209
Service Income
Grain Drying 3,642,027
Grain Storage & PL Charges 2,900,128
Rental Income 53,975
Other Income 186,946
Total Service Income$ 6,783,076
TOTAL GROSS INCOME$ 9,468,285
Operating Expenses
People & Related Expenses 3,558,476
Facility Expenses 6,356,905
Administrative Expenses 679,955
Interest – Seasonal 179,233
Total Operating Expenses$ 10,774,569
NET OPERATING INCOME (LOSS)$ (1,306,284)
Other Income
Gain on Involuntary Conversion 347,270
Income from Other Investments 99,864
Patronage Dividend Income 238,671
Income (Loss) from Subsidiaries 227,933
Total Other Income$ 913,738
Federal and State Tax(Expense)$ 195,791
NET INCOME (LOSS) AFTER TAXES$ (196,755)
STATEMENT OF CHANGES IN FINANCIAL POSITION
12 months ended MAY 31, 2014
SOURCES OF WORKING CAPITAL
Net Income for the Year (196,755)
Add (Deduct) Items Not Affecting Working Capital:
Depreciation & Amortization 3,129,127
Noncash Patronage Refunds Received (59,189)
Deferred Income Taxes (150,062)
Joint Venture (Income) Loss (227,933)
Working Capital Provided From Operations$ 2,495,188
Decrease in Long-Term Notes Receivable 250,000
Stock Redemptions 5,038
TOTAL SOURCES$ 2,750,226
USES OF WORKING CAPITAL
Purchase of Property, Plant & Equipment 3,011,029
Retirement of Capital Stock 107,532
Retirement of Long-Term Debt 1,205,600
TOTAL USES$ 4,324,161
INCREASE (DECREASE) IN WORKING CAPITAL (1,573,935)
WORKING CAPITAL – Beginning of Year 11,131,973
ENDING WORKING CAPITAL$ 9,558,038
This report is a condensation of our auditors long form report which is available for your inspection at our
corporateoffice in Gibson City or from any of our Directors. If you have questions about this statement or our
financial condition, any director or the manager would be happy to discuss them with you.
EMPLOYEES
ANCHOR
Teresa Steidinger – Grain Accounting Manager (26 years)
Aimee Nugent – Office Manager (2 years)
Garry Cole – Location Supervisor (35 years)
Jonathan York – Operations Support (4 years)
BELLFLOWER
Chare Robinson – Office Manager (34 years)
Gary Meier – Location Supervisor (3 years)
CABERY
Michael Riedel – Location Supervisor (4 years)
CAMPUS
Christine Graveson – Office Manager (12 years)
Shawn Edwards – Location Supervisor (12 years)
CHARLOTTE
Gloria Hitchens – Office Manager (25 years)
Shane Puls – Operations Support (5 years)
Todd Ashman – Operations Support (2 years)
COLFAX
Marci Beitz – Office Manager (2 years)
Dennis Farney – Location Supervisor (20 years)
Brandon Bose – Operations Support (7 years)
CROPSEY
Jessica McCabe – Office Manager (3 years)
Bill Farmer – Location Supervisor (36 years)
Jordan Kintner – Operations Support (5 years)
EMPLOYEES (Cont.)
CULLOM
Susan Deany – Office Manager (20 years)
Brad Wallrich – Location Supervisor (17 years)
Mike Eimer – Operations Support (4 years)
GIBSON CITY – MIDDLE
Dennis Angus – Location Supervisor (11 years)
Jermaine Mays – Operations Support (1 year)
GIBSON CITY – WEST
Brett Dunn – Location Supervisor (12 years)
Ed Kirkpatrick – Operations Support (4 years)
Sue Ann Harsha – Adminstrative Assistant (22 years)
Joy Boyce – Administrative Assistant (10 years)
Bonnie Voyles – Adminstrative Assistant (5 years)
Angie Beach – Assistant Controller (6 years)
MELVIN
Kevin Redeker – Location Supervisor (8 years)
SAYBROOK
Myron Shelton – Location Supervisor (22 years)
SIBLEY
Bonnie Wurmnest – Office Manager (12 years)
Dan Farmer – Location Supervisor (12 years)
TRANSPORTATION TEAM
Rick Hammond – Truck Driver (41 years)
Roger Ford – Truck Driver (8 years)
Randy York – Truck Driver (4 years)
Kevin Bazzell – Truck Driver (13 years)
EMPLOYEES (Cont.)
ELECTRICAL & MAINTENANCE
Tracy Grider – Electrician (2 years)
Chris Bach – Maintenance Supervisor (8 years)
Nick Bose – Maintenance Support (1 year)
Joe Hayes – Safety Fabrication (2 years)
OTHER
Adam Moritz – Grain Originator (OEE) (4 years)
Jeff Grider – Farmer Marketing/Crop Insurance (4 years)
Matt Dunn – Central Area Support (6 years)
STAFF
Joe Thompson – General Manager (15 years)
Gary Allen – Operations Manager (30 years)
JB Daughenbaugh – Grain Merchandiser (18 years)
Jamie Stein – Assistant Operations Manager (18 years)
BLOOMER LINE
Eric Webb – General Manager (13 years)
Todd Beal – Track Maintenance (29 years)
Mark Swallow- Track Maintenance (6 years)
Paul Jones – Engineer/Conductor (6 years)
Corey Cope – Engineer/Conductor (5 years)
Stewart Stafford – Engineer/Conductor (1 year)
Trevor Smith – Conductor (1 year)
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