This project started during a period of negative farmer returns as reported by Dr. Gary Schnitkey's 2018-2020 crop budgets. This project gathered a very unique set of collaborators -- University of Illinois research and education designers, FBFM data analysts, Marine Bank lender, and John Wood Community College ag students. We leveraged this talent pool to share key concepts through classroom style presentations and one-on-one meetings.
One-on-one meetings were conducted with producers to review year end financial analysis, discuss alternatives for farm management decisions, and further enhance their understanding of their farm financial position.
- 78 farms completed a comprehensive year end accrual financial analysis
- 60 farms completed projected farm income statements and breakeven analysis
- 40 farms participated in one-on-one transition planning meetings