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A Best for the World Company

Iroquois Valley Farmland REIT, PBC is recognized as a “Best For The World” B Corp for customers, governance and overall.

Iroquois Valley, a Certified B Corporation, has been named a Best For The World honoree in recognition of their significant positive impact in their innovative governance structures, supportive customer service, and across all categories. Ranking in the top 10% of all B Corps for their overall impact, Iroquois Valley earned this honor because of their overall mission, ethics, and promotion of public benefit.

“We’re incredibly proud of this year’s Best For The World honorees,” says Anthea Kelsick, Chief Marketing Officer of B Lab. “These inspiring companies represent the kinds of business models and impact-driven business strategies that are building a new economy—one that is inclusive, regenerative, and delivers value to all stakeholders, not just shareholders. To that end, B Corps like Iroquois Valley are redefining capitalism and showing that it actually can work for everyone.”

1,000 B Corps from 44 countries were named to the 2019 Best For The World lists, including Patagonia, Beautycounter, Dr. Bronner’s, TOMS, Seventh Generation, and Greyston Bakery. The 2019 Best For The World honorees are determined based on the verified B Impact Assessments of Certified B Corporations. The full lists are available on https://bcorporation.net/.

Purpose-driven business

As a B Corp and Public Benefit Corporation, Iroquois Valley has long been committed to creating positive triple bottom line impacts. We’re grateful to be part of a community that recognizes business should consider all stakeholders, including people and planet.

We’re glad to see that these ideas have gone mainstream with the Business Rountable’s recent announcement about the role of business in creating value for all stakeholders. The founders of the B Corp movement weighed in on this shift with their ideas around ensuring this announcement leads to action.

Key quote: “While it is appropriate to note, even celebrate, the Business Roundtable’s announcement as a sign of an accelerating culture shift, it is important to recognize that the people who are demanding this shift are demanding action. People want to buy from, work for, and invest in companies that serve a higher purpose than maximizing profit at any cost to people, communities, and the natural world on which all life depends. People are demanding a new social contract between business and society in which business and the capital markets create long-term value for all stakeholders.”

Read the entire article on Fast Company here.

Soil Wealth

Croatan Institute recently released Soil Wealth, a comprehensive look at investing in regenerative agriculture across the US. Their term, soil wealth, relates to “the constellation of benefits associated with building both soil health and community wealth through regenerative agriculture.” The report offers an in-depth study of what’s already happening in this space alongside recommendations for capacity-building and growing the movement.

We’re highlighted among others like Rodale InstitutePipeline Foods, and more who are doing important work to support regenerative agriculture through the value chain.

Read the report here.

Press Release: Iroquois Valley’s Direct Public Offering

Retail investors can now directly invest in organic farmland through Iroquois Valley’s Direct Public Offering (DPO). The DPO provides a long-term investment opportunity targeting market rate returns for the asset class while supporting healthy food production, environmental stewardship, and prosperity for independent farmers and their communities. 

“We want to mobilize the public to invest directly in small farmers and participate in building a healthier agricultural system,” says CEO & Co-Founder, David Miller. “The DPO is about investors of all kinds coming together to support a healthy farm economy from soils, to food, to farmers.”

By purchasing stock through this DPO, investors gain direct exposure to a diversified portfolio of organic farmland while supporting independent farmers and their businesses. With an accessible minimum investment just above $10,000, the DPO accelerates Iroquois Valley’s ability to raise capital, expand its farmland portfolio, improve corporate profitability, grow investor returns, and support farmers regenerating the soil and the food system. 

Director of Business Development & Investor Relations, Alex Mackay says, “we have been waiting many years to include investors who have shown passion for what we’re doing but couldn’t participate because of the minimums or the net worth threshold. It’s very exciting that we can offer our REIT Equity Shares to folks who want to directly support organic farmers while investing in a real asset for the long-term.”

Iroquois Valley is a real estate investment trust providing secure land access to transitioning and organic farmers. Founded in 2007, it has relied on capital from approximately 400 accredited investors who have grown the portfolio to above $50 million. Iroquois Valley provides 40+ families with farmland tenure on over 12,000 acres in 14 states. Incorporated as both a Certified B Corp and Public Benefit Corporation, Iroquois Valley is committed to supporting farmers growing healthy food and building healthy soil.

Aeris Impact Management Assessment

We recently became one of the first companies to undergo an Impact Management Assessment by Aeris. This assessment evaluates a fund’s impact management capacity by focusing on impact management systems and processes as the strongest indicator of the fund’s ability to make investments in alignment with its stated impact thesis and to achieve its impact goals. Aeris’ methodology has been established and refined through performing impact management and financial analyses and ratings of CDFIs for the past 15 years, and has been essential in making impact investing more accessible for institutional investors. It recently extended its impact assessments to investment companies and funds across asset classes.

We’re proud to share our recently released assessment, based on December 2018 results. This report provides third-party verification of Iroquois Valley’s impact practices. It joins our B Corp assessment and expands our commitment to transparency through rigorous, independent evaluation of our work.

Read our Impact Management Assessment here.

‘A major punch in the gut’: Midwest rains projected to create near-record dead zone in Gulf

It’s been a slow spring in the Midwest, marked by historically wet conditions that have caused floods and delayed planting throughout the region. These effects are being felt throughout the region and beyond: flooding in the Midwest is accelerating the flow of water from the Mississippi River into the Gulf of Mexico. The Washington Post recently reported on the connection between Midwestern agriculture and ocean health – and it’s not pretty. It’s critical that the farms in the Mississippi watershed are managed organically in order to keep our waterways clean and free from chemical runoff that will feed the dead zone. Our work throughout this region and its watershed feels all the more important, especially as we experience the more volatile weather and increased moisture climate change is bringing.

Read the article here.

Farm Field Trip

During the last week of May, a handful of Iroquois Valley staff members visited a few of the farms and families that have been a part of our story since the beginning. The field trip was a great opportunity for our newer and more remote staff to have a hands-on orientation and see the transformation happening in the Chicago-area foodshed. North Central Illinois may not be well known for organic and regenerative agriculture, but the movement is growing there quickly. When Iroquois Valley bought its first farm in Iroquois County in 2007, there were less than 500 acres farmed organically there – today, there are over 5,000. We went down to farm country to see that change in action.

The day started with a pit stop at Hewn Bakery in Evanston – Hewn supports local and organic farmers, using their flours to create delicious baked goods. Two of Iroquois Valleys’ farm families (Janie’s Farm & Meadowlark Organics) are among those whose specialty grain flours are used at Hewn. The co-founder of Hewn, Ellen King, wrote a book called Heritage Baking about baking with specialty grains and the growers who raise them.

Staff learning about perennial pasture management at Mint Creek Farm

We visited Mint Creek Farm, a diversified farm raising livestock on pasture. Mint Creek raises entirely grass-fed cattle and sheep along with pasture-raised hogs, goats, and chickens for meat and eggs. Mint Creek Farm takes inspiration from biodynamic principles that view farms as holistic organisms where the soil, the ecosystem, and the farmers work together to thrive. Mint Creek Farm is surrounded by crop operations, making its restoration of native grassland ecosystems where animals graze all the more unique. For those in the Chicago area, you can find Mint Creek at local farmers markets and attend dinners at the farm prepared by a Chicago chef. Learn more about our partnership with Mint Creek Farm by reading their farm profile here and see their farm dinner schedule here.

We continued to The Mill at Janie’s Farm, where we toured the stone ground mill and saw white winter wheat being milled into bread flour. The mill has allowed Janie’s Farm to process the grains they grow and sell a high quality, value-added product.  The Wilkens raise specialty milling grains and mill them into flours that are used in Chicago area bakeries and restaurants. Learn more about our partnership with Janie’s Farm by reading their farm profile here and learn more about Iroquois Valley’s history with the Wilkens here.

Staff, farmers, and friends gathering at Red Barn Farm

We completed our farm tour at Red Barn Farm, one of the Brockman Family Farms. Red Barn Farm is home to milking goats, an orchard, and more. While we don’t work directly with the Brockmans on land access, they are central to Iroquois Valley’s founding. The Brockmans introduced our co-founder, Dave Miller, to our first farmer, Harold Wilken. For more on the history between the Brockman family and Iroquois Valley, see our newsletter on the topic. We wrapped up the day at Dave Miller’s own farmhouse in Danforth, IL where everyone contributed to a home cooked meal of soup, burgers, and cornbread made with local ingredients from some of the farms we visited.

Restoring the Heartland

Iroquois Valley was featured in the Spring 2019 issue of the Stanford Social Innovation Review – read the piece here. “Restoring the Heartland” looks broadly at trends in agriculture and positions our work providing secure land tenure to transitioning and organic farmers as part of a larger shift toward regenerative economic and agricultural systems.

Key quote: “In our view, we are regenerating an asset we’re lending against,” says Miller. “Our investors understand that our business model is enhancing the value of the underlying assets. This is not traditional finance.”

SSIR’s Spring Issue is available to the public until mid-May.

How impact investing helps meet the UN’s Sustainable Development Goals

What are the UN Sustainable Development Goals?

In 2016, the UN’s Sustainable Development Goals (SDGs) emerged as a strategic framework that companies, organizations, and policymakers can apply to solve the world’s most pressing issues. Ranging from eliminating poverty to protecting the planet, the 17 sustainable development goals are a 15-year agenda for progress. These goals include natural resource management, climate responsibility and global health.

Investing in Global Change

Moving trillions of dollars toward sustainable initiatives will be necessary to achieve these worldwide goals and impact investing plays an important role in doing so. According to the Annual Impact Investor Survey, released by the Global Impact Investing Network (GIIN) in 2018, over half of impact investors are measuring their investments’ progress against the SDGs.

How does Iroquois Valley Farmland REIT measure up within the SDG framework? Because financing organic farmland covers so much ecological and social ground, our portfolio addresses multiple Sustainable Development Goals, including goals 3, 6, 12, 13, and 15. We’re highlighting three of these goals to give you a closer look at some of our impact areas:

Ensure Access to Water and Sanitation For All: Goal 6

We work to expand acreage farmed organically in the US. With a significant number of our farms located in the Midwest, we are significantly impacting the Mississippi watershed by scaling organic agriculture in this region. This corresponds to Goal 6.6: “By 2020, protect and restore water-related ecosystems, including mountains, forests, wetlands, rivers, aquifers and lakes”.

Runoff from pesticides applied to conventional farmland is a major polluter of waterways, which impacts the human and ecological health of the watershed. Runoff from the Midwest through the Mississippi River contributes to the dead zone in the Gulf of Mexico, measured at 5,780 square miles (the size of Connecticut) in 2018. Organic farms tend to have much higher soil organic matter and less nutrient loss than conventional farms, meaning that organic fertilizers applied are retained in the soil and do not contribute to runoff. Moreover, organic fertilizers are biodegradable and break down without harming water.

Climate Action: Goal 13

Although this goal primarily relates to curbing emissions, organic and regenerative agriculture has an important role to play in mitigating and even reversing climate change by sequestering carbon from the atmosphere in the soil. With that perspective in mind, our work increasing organic acreage in the US applies to the goals of “strengthening resilience and adaptive capacity to climate-related hazards” and “improving human capacity on climate change mitigation, adaption, and impact reduction”.

Life on Land: Goal 15

This goal focuses on protecting and increasing biodiversity, as well as restoring soil and land degraded by droughts and floods. Organic agriculture prioritizes biodiversity, conservation, and soil restoration to build climate resiliency. In a world increasingly affected by climate change and its related extreme weather, our organic farmers are facing more severe flooding and drought. This makes building soil organic matter all the more important so it can retain moisture, even excess moisture, from storms through drought.

Dryland farming is a crop management system prevalent in the arid West that does not use irrigation and grows crops only by relying on rainfall during the growing season. Our farmers at Vilicus Farms in Montana use the dryland farming technique and have 30% of their farm in bio-diverse conservation habitat. Across the country, we work with farmers who are building soil, planting for pollinators, and growing nutritious food.

Learn more about investing in organic agriculture through our Direct Public Offering or Soil Restoration Notes.

2018 SRI Conference: The 29th Annual Conference for Sustainable, Responsible & Impact Investing

Iroquois Valley Farmland REIT is excited to sponsor the 2018 SRI Conference in Colorado Springs! This marks the eighth consecutive year that Iroquois Valley will be attending and the fifth straight year as a sponsor of the event. SRI brings together the largest group of socially responsible investment advisors in the country, and Iroquois Valley Founder and CEO Dave Miller is excited to be reconnecting with many of the financial professionals that helped build the Company into the $50 million REIT it is today!

We will be in attendance November 1-4, 2018, stop by our booth to say hello and learn more about our work. Iroquois Valley Director of Business Development Alex Mackay will also be attending and helping Dave spread the world about our pending Public Offering of REIT Equity Shares with a lower minimum of $10,000. Please visit our invest page to learn more. It will be the first time we get to show off our brand new website, so it should make for a very exciting week in Colorado Springs.

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Events

Farm Field Trip

During the last week of May, a handful of Iroquois Valley staff members visited a few of the farms and families that have been a part of our story since the beginning. The field trip was a great opportunity for our newer and more remote staff to have a hands-on orientation and see the transformation happening in the Chicago-area foodshed.

Read more

News

A Best for the World Company

Iroquois Valley Farmland REIT, PBC is recognized as a “Best For The World” B Corp for customers, governance and overall.

Read more

What We're Reading

Soil Wealth

Croatan Institute recently released Soil Wealth, a comprehensive look at investing in regenerative agriculture across the US. Their term, soil wealth, relates to "the constellation of benefits associated with building both soil health and community wealth through regenerative agriculture."

Read more

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