our locations · by supporting future farmers of america & 4-h foundations • •providing...

Altoona .........................715.835.3104

Arlington .......................608.635.4376

Barron ...........................715.537.5618

Bonduel .........................715.758.2125

Johnson Creek ..............920.699.3588

Lomira ..........................920.269.4351

Marion ..........................715.754.5227

Monroe ........................608.328.8344

Reedsville .....................920.754.4361

Richland Center ..............608.647.6151

Sparta .........................608.269.3104

Stratford .......................715.687.4101

Waukon ........................563.568.4501

Equity Cooperative Livestock Sales Association Market Contact Information:

We must adjust to an ever-changing market while holding onto our unchanging principles.

2 0 1 9 A N N U A L R E P O R T

8 0 0 . 3 6 2 . 3 9 8 9 | w w w . e q u i t y c o o p . c o m

P.O. Box 1003 • Baraboo, Wisconsin 53913608.356.8311 • 800.362.3989

Fax 608.356.0117www.equitycoop.com

CONNECT WITH EQUITY… Like us on Facebook

Twitter@equity_coop

Instagram @equity_coop

equitylivestockfocus.com

Barron | 715-537-5618

Stratford | 715-687-4101

Altoona | 715-835-3104

Sparta | 608-269-3104

Richland Center | 608-647-6151

Arlington | 608-635-4376

Johnson Creek | 920-699-3588

Lomira | 920-269-4351

Reedsville | 920-754-4361

Bonduel | 715-758-2125

Marion | 715-754-5227

Waukon, IA | 563-568-4501

Monroe | 608-328-8344

Menominee BuyingStation | 906-863-8123

Ettrick Buying Station 608-269-3104

Concern for Community• Helping today’s youth become tomorrow’s leaders

by supporting Future Farmers of America & 4-H Foundations

• Providing scholarships to future agriculture leaders

Working Together• Our board and management team work together to

improve markets and support our member’s needs.

• Working on behalf of our members with other

organizations at national and state levels for the

betterment of the industry.

• Member input through field service reps and annual

and local association meetings.

Education, Training & Information• Work with our future young leaders on the benefits

of cooperatives• Annual District Meetings• Beef Quality Assurance programs

Control is in Your Hands & One Member One Vote• Members control our future

Open to all People Who Can Use Our Services• You don’t have to be a member to use our services

Your Contribution Counts• Our members contribute equitably, and democratically

control the capital of their cooperative

We utilize our unchanging principles and members’ input to guide our cooperative that is focused on our patron’s needs. As a cooperative we value our members who make up Equity Cooperative Livestock Sales Association. We honor their partnership and commitment and

are thankful for their trust. All principles that help make our cooperative successful!

OUR LOCATIONS

From the President & CEO

LES DANIELSONCHAIRMAN OF THE BOARD

From the Chairman of the Board

This year your cooperative saw a change in leadership at Equity as our new President and

CEO, Curt Larson, took over on July 1st for the retiring Chuck Adami. It has been a pleasure

working with Chuck for the past 20 years and I look forward to working with Curt in 2020

and beyond.

The year was difficult for agriculture in the Midwest. Low commodity prices continued to

decrease or lessen the farmer’s profit margins while exceptionally wet weather challenged

our ability to farm. As your cooperative continues to adjust to this ever-changing agriculture market, it continues to

implement cost saving measures while still holding on to the unchanging principles that guide our cooperative. In 2019

the Board of Directors remained focused on these measures and the year ended with a positive result.

As commodity prices have begun to recover, I am looking for a stronger 2020 for livestock producers as well as Equity

Livestock Cooperative. We look forward to marketing your cattle in 2020 and appreciate your continued support and loyalty.

Les Danielson, Chairman of the Board

Equity Cooperative Livestock Sales Association values our member relationships and believes

that these are an important stepping stone to meeting patron needs.

As our cooperative continues to face challenges from the ever-changing elements of

agriculture, we remain focused on our unchanging principles. Working together, concern for

our communities, and providing education, training, and information to our members are

some of the guiding principles that lead us.

We believe during these times of change it is especially important to continue to educate and inform our members

on services we can provide to achieve success in marketing livestock. As 2019 comes to an end and 2020 begins

agriculture continues to experience change. It is important that our members know that their cooperative will continue

to remain dedicated in preparing its members for long-term success.

Thank you for your support and trust over this past year. We continue to strive to provide quality services for successful

member relationships.

Curt Larson, President & CEO

CURT LARSONPRESIDENT & CEO

Risk Management • Livestock Marketing • Credit Corporation • Field Services

Altoona . . . . . . . . . . . . . . . . . . . . . . . . . 715.835.3104

Arlington . . . . . . . . . . . . . . . . . . . . . . . 608.635.4376

Barron . . . . . . . . . . . . . . . . . . . . . . . . . . . 715.537.5618

Bonduel . . . . . . . . . . . . . . . . . . . . . . . . . 715.758.2125

Johnson Creek . . . . . . . . . . . . . . 920.699.3588

Lomira . . . . . . . . . . . . . . . . . . . . . . . . . . 920.269.4351

Marion . . . . . . . . . . . . . . . . . . . . . . . . . . 715.754.5227

Monroe . . . . . . . . . . . . . . . . . . . . . . . . 608.328.8344

Reedsville . . . . . . . . . . . . . . . . . . . . . 920.754.4361

Richland Center . . . . . . . . . . . . . . 608.647.6151

Sparta . . . . . . . . . . . . . . . . . . . . . . . . . 608.269.3104

Stratford . . . . . . . . . . . . . . . . . . . . . . . 715.687.4101

Waukon . . . . . . . . . . . . . . . . . . . . . . . . 563.568.4501


2019 2018

Current Assets $17,182,709 $16,753,106

Property and Equipment 5,666,590 5,440,285

Investments and Other Assets 2,607,177 4,572,095

TOTAL ASSETS $25,456,476 $26,765,486

Current Liabilities $13,324,962 $13,567,934

Long Term Debt, Less Current Maturities 2,403,959 3,401,674

Minimum Pension Liability 982,133 1,707,467

TOTAL LIABILITIES $16,711,054 $18,677,075

Patron Equities 8,745,422 8,088,411

TOTAL LIABILITIES AND PATRON EQUITIES $25,456,476 $26,765,486

Gross Operating Revenues $425,434,931 $452,171,373

Payment to Producers (411,999,825) (438,608,458)

NET OPERATING REVENUES 13,435,106 13,562,915

Operating Expenses 13,029,652 12,925,660

NET PROCEEDS FROM OPERATIONS 405,454 637,255

Non Operating Income / (Expense) (94,457) (104,689)

NET PROCEEDS BEFORE INCOME TAXES 310,997 532,566

Credit for Income Taxes (21) —

NET PROCEEDS $311,018 $532,566

A summary of the audited financial statements may be found at www.equitycoop.com or a copy of the complete audited financial statements may be requested by contacting Nancy Bilz, Vice President of Finance/CFO, 401 Commerce Ave. Baraboo, WI 53913.

ASSETS

LIABILITIES AND PATRON EQUITIES

CONSOLIDATED STATEMENTS OF OPERATION



Financial Statement

DAN LEISCHERDISTRICT I

DAVID WILKEDISTRICT IIVICE CHAIRMAN OF THE BOARD

STEVE SCHLEISDISTRICT IIISECRETARY/TREASURER

PETE KLEIMANDISTRICT IV

ALLAN CIHLARDISTRICT V

LES DANIELSONDISTRICT VICHAIRMAN OF THE BOARD

KARL MEROWDISTRICT VIIASSISTANT SECRETARY/TREASURER

DWIGHT TRUTTMANNDISTRICT VIII

BRAD SOLCHENBERGERDISTRICT IX

ADAM QUANDAHLDISTRICT X

NANCY BILZVICE PRESIDENT OF FINANCE & CFO

DAVID JOHNSONVICE PRESIDENT OF MARKETING

GARY WILLIAMSVICE PRESIDENT OF CREDIT SERVICES

ROB MEIERVICE PRESIDENT OF INFORMATION SYSTEMS

CURT LARSONPRESIDENT AND CEO

TOD FLEMINGEXECUTIVE VICE PRESIDENT OF MARKETING & COO

Management Team

Board of Directors

From the President & CEO

LES DANIELSONCHAIRMAN OF THE BOARD

From the Chairman of the Board

This year your cooperative saw a change in leadership at Equity as our new President and

CEO, Curt Larson, took over on July 1st for the retiring Chuck Adami. It has been a pleasure

working with Chuck for the past 20 years and I look forward to working with Curt in 2020

and beyond.

The year was difficult for agriculture in the Midwest. Low commodity prices continued to

decrease or lessen the farmer’s profit margins while exceptionally wet weather challenged

our ability to farm. As your cooperative continues to adjust to this ever-changing agriculture market, it continues to

implement cost saving measures while still holding on to the unchanging principles that guide our cooperative. In 2019

the Board of Directors remained focused on these measures and the year ended with a positive result.

As commodity prices have begun to recover, I am looking for a stronger 2020 for livestock producers as well as Equity

Livestock Cooperative. We look forward to marketing your cattle in 2020 and appreciate your continued support and loyalty.

Les Danielson, Chairman of the Board

Equity Cooperative Livestock Sales Association values our member relationships and believes

that these are an important stepping stone to meeting patron needs.

As our cooperative continues to face challenges from the ever-changing elements of

agriculture, we remain focused on our unchanging principles. Working together, concern for

our communities, and providing education, training, and information to our members are

some of the guiding principles that lead us.

We believe during these times of change it is especially important to continue to educate and inform our members

on services we can provide to achieve success in marketing livestock. As 2019 comes to an end and 2020 begins

agriculture continues to experience change. It is important that our members know that their cooperative will continue

to remain dedicated in preparing its members for long-term success.

Thank you for your support and trust over this past year. We continue to strive to provide quality services for successful

member relationships.

Curt Larson, President & CEO

CURT LARSONPRESIDENT & CEO

Risk Management • Livestock Marketing • Credit Corporation • Field Services

Altoona . . . . . . . . . . . . . . . . . . . . . . . . . 715.835.3104

Arlington . . . . . . . . . . . . . . . . . . . . . . . 608.635.4376

Barron . . . . . . . . . . . . . . . . . . . . . . . . . . . 715.537.5618

Bonduel . . . . . . . . . . . . . . . . . . . . . . . . . 715.758.2125

Johnson Creek . . . . . . . . . . . . . . 920.699.3588

Lomira . . . . . . . . . . . . . . . . . . . . . . . . . . 920.269.4351

Marion . . . . . . . . . . . . . . . . . . . . . . . . . . 715.754.5227

Monroe . . . . . . . . . . . . . . . . . . . . . . . . 608.328.8344

Reedsville . . . . . . . . . . . . . . . . . . . . . 920.754.4361

Richland Center . . . . . . . . . . . . . . 608.647.6151

Sparta . . . . . . . . . . . . . . . . . . . . . . . . . 608.269.3104

Stratford . . . . . . . . . . . . . . . . . . . . . . . 715.687.4101

Waukon . . . . . . . . . . . . . . . . . . . . . . . . 563.568.4501


Altoona .........................715.835.3104

Arlington .......................608.635.4376

Barron ...........................715.537.5618

Bonduel .........................715.758.2125

Johnson Creek ..............920.699.3588

Lomira ..........................920.269.4351

Marion ..........................715.754.5227

Monroe ........................608.328.8344

Reedsville .....................920.754.4361

Richland Center ..............608.647.6151

Sparta .........................608.269.3104

Stratford .......................715.687.4101

Waukon ........................563.568.4501


We must adjust to an ever-changing market while holding onto our unchanging principles.

2 0 1 9 A N N U A L R E P O R T

8 0 0 . 3 6 2 . 3 9 8 9 | w w w . e q u i t y c o o p . c o m



CONNECT WITH EQUITY… Like us on Facebook

Twitter@equity_coop

Instagram @equity_coop

equitylivestockfocus.com

Barron | 715-537-5618

Stratford | 715-687-4101

Altoona | 715-835-3104

Sparta | 608-269-3104

Richland Center | 608-647-6151

Arlington | 608-635-4376

Johnson Creek | 920-699-3588

Lomira | 920-269-4351

Reedsville | 920-754-4361

Bonduel | 715-758-2125

Marion | 715-754-5227

Waukon, IA | 563-568-4501

Monroe | 608-328-8344

Menominee BuyingStation | 906-863-8123

Ettrick Buying Station 608-269-3104

Concern for Community• Helping today’s youth become tomorrow’s leaders

by supporting Future Farmers of America & 4-H Foundations

• Providing scholarships to future agriculture leaders

Working Together• Our board and management team work together to

improve markets and support our member’s needs.

• Working on behalf of our members with other

organizations at national and state levels for the

betterment of the industry.

• Member input through field service reps and annual

and local association meetings.

Education, Training & Information• Work with our future young leaders on the benefits

of cooperatives• Annual District Meetings• Beef Quality Assurance programs

Control is in Your Hands & One Member One Vote• Members control our future

Open to all People Who Can Use Our Services• You don’t have to be a member to use our services

Your Contribution Counts• Our members contribute equitably, and democratically

control the capital of their cooperative

We utilize our unchanging principles and members’ input to guide our cooperative that is focused on our patron’s needs. As a cooperative we value our members who make up Equity Cooperative Livestock Sales Association. We honor their partnership and commitment and

are thankful for their trust. All principles that help make our cooperative successful!

OUR LOCATIONS

our locations · by supporting future farmers of america & 4-h foundations • •providing...

Documents