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Diversified Vegetable Farm Financial Benchmarks Webinar

February 21, 2018 Diversified Vegetable Farm Financial Benchmarks Webinar

Event Overview
Diversified Vegetable Farm Financial Benchmarks Webinar

On line: joinme/PASAmeeting
For audio, you can use your computer’s microphone and speaker, or call:
(202) 602-1295
Access #: 161-466-523#
If you choose to use the call-in number, please mute your computer audio!

Date & Time
  Thursday, February 21
  12PM - 1:30PM

  Free to everyone with pre-registration
Event Description
Connect with PASA’s diversified vegetable financial benchmark study and set a course for improving your farms economic viability. Financial benchmarks are a critical resource for any business, enabling managers to track progress over time and compare themselves to industry trends. Direct market sales (farmers markets, CSA’s, etc.) are an $86 million industry in Pennsylvania, yet very little information is available to help diversified vegetable farmers make successful business decisions. 

PASA is helping veggie farmers to improve their bottom line by plugging into a nation-wide research project, coordinated by University of Wisconsin. The data will help us understand how market channels, scale, and crop diversity influence profitability for direct market produce farmers. Participants will complete a ~60 minute survey about their farm’s 2016 finances, and receive detailed information about how their businesses compare to farms across Pennsylvania and nationwide. 

This webinar will help participating farmers enter their 2016 financial data into a secure project database. Our project collaborator from University of Wisconsin (professor Brad Barham) will be on-hand remotely to help you through the survey (some of the questions can be a bit tricky to interpret). Participants will need to gather a few documents and records for 2016 ahead of time (see details below). 

Later in the spring, we’ll be working to give each farmer a personalized report that shows how key financial indicators for your farm compare against a group of similar Pennsylvania and Wisconsin farms. This will be a powerful resource for your farm business planning. Your farm’s data will be kept strictly confidential, while general trends and insights will be shared with the broader PASA community. All project participants are also welcome to a $100 stipend. 

And here are the records you’ll need to prepare: 
1. Your IRS form 1040 for 2016, including Schedule F. 
2. Your property tax statement for 2016. If you or your farm business do not own any property (e.g. a lease arrangement), then a property tax statement won’t be relevant for you farm business. 
3. Any documents or resources to help you estimate the current value of your farm property such as: tax assessments, original purchase price, real estate appraisals, or real estate comparables in your area. You will be asked to provide an estimated property value for your farm. This can be challenging. Please just make your best estimate based on the information you have. If you or your farm business do not own any property (e.g. a lease arrangement), then these estimates won’t be relevant for your farm business. However, you will need to estimate any land lease/rental expenses. 
4. A cash flow and/or profit and loss statement (or something similar) for 2016. 
5. An estimate of the total value of your machinery assets. You will be asked to provide estimates for the current value of equipment, and not the purchase price.

Registration will be open until Monday 2/19/2018 at 5pm.
Speaker Information
Brad Barham is a professor of Applied Economics at the University of Wisconsin. He is the lead researcher on a nationwide study the interaction of scale, markets, and product diversity on the profitability of direct market vegetable farming models. He has conducted field research into the economics of sustainable farming across many parts of the U.S. and Latin America.
Do you allow walk-ins?
In order to prepare the necessary records, we ask that everyone pre-register. Call (814) 349-9856 to register by phone.
Is there financial aid for this event?
This event is free for everyone.
Who do I contact if I have more questions about this event?
Please contact Franklin Egan at (814) 349-956 x21 or for more information about this event.
Registrant Information

Use the 5-digit Zip Code that you last gave PASA

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