Tag: organic farmland reit

Iroquois Valley Farmland REIT, PBC Names Tera Johnson CEO

EVANSTON, IL – Iroquois Valley Farmland REIT, PBC announced today that Tera Johnson will succeed co-founder, David Miller, as Chief Executive Officer effective September 1, 2021. 

David Miller, co-founder. Photo first appeared in Eating Well magazine.

Johnson is the founder of the Food Finance Institute (FFI), a nonprofit organization that provides financial technical assistance to food, beverage, and value-added agriculture enterprises. Miller plans to remain on the Iroquois Valley board and will support Johnson as she assumes responsibilities, in addition to managing special projects. He looks forward to the opportunity to step back from day-to-day operations.

“As I look back on the last fifteen years, I believe we were successful in establishing a deeply rooted organic foothold in a region I characterize as a dead soil monoculture,” Miller shares. “I see Tera building on that organic foundation and going beyond. Under her guidance, we will accelerate our commitment to conservation and diversity–in our investments and in our products and programs.”

Miller, founded Iroquois Valley with his friend and former college roommate, Dr. Stephen Rivard in 2007. Miller has served as CEO since inception. Iroquois Valley is one of the first companies in North America to offer investors direct exposure to a diversified organic farmland portfolio. With independent farmers and ranchers at the heart of its investment strategy, Miller led the company as it grew from one relationship with a farming family on a single property in Iroquois County, Illinois to a $75 million portfolio representing 50 farmer relationships in 15 states.

Iroquois Valley is supported by over 500 investors in 47 states, 25% of whom are non-accredited, retail investors who committed capital after the company’s Regulation A+ offering launched in 2019. Over Miller’s fifteen years as CEO, Iroquois Valley incorporated as a real estate investment trust and public benefit corporation, received recognition as a “Best for the World” certified B Corp, and was consistently named to ImpactAssets’ IA50.

“In a time when the mission of Iroquois Valley is more important than ever,” Johnson says, “I’m humbled and inspired to build on the strong foundation that Dave and his team have built and to lead the team into the next phase of Iroquois Valley.”

Johnson built her career around her mission to create the next generation of environmentally and economically regenerative food and farming businesses. Her work at the helm of FFI saw over 600 people from over 400 organizations throughout the U.S. trained in financial management and business consulting. FFI has provided technical assistance to 230 food, farm, and food system businesses since establishment. FFI is part of the University of Wisconsin System’s Institute for Business & Entrepreneurship. Johnson also launched Edible-Alpha®, a digital resource hub providing actionable insights, training, resources and tools. Her podcast interviews with entrepreneurs, bankers, and investors have been downloaded over 45,000 times, with listeners in all 50 states and eight countries. Johnson is the founder of Simply Tera’s and is the 2017 Extension Chancellor’s Wisconsin Idea Award winner. Johnson is a frequent speaker, teacher and financial consultant to sustainable food and farming businesses, social venture funds and investors.

About Iroquois Valley Farmland REIT, PBC

Iroquois Valley is a regenerative finance company that provides land security and financial products to organic farmers by raising capital from mission-driven investors. Iroquois Valley offers long-term leases, mortgage lending, and operating lines of credit to organic and transitioning farmers and ranchers throughout the United States. The company has equity and debt investment options and works with a large network of financial advisors. www.iroquoisvalley.com

Contact: Claire Mesesan, acting communications director

(847) 859-6645 ext. 702 | cmesesan@iroquoisvalleyfarms.com

Financing organic farmers: opportunity intertwined with a challenge

We are pleased to announce Donna Holmes as our new VP, Investor Relations. She replaces Alex Mackay in this position as Alex has left Iroquois Valley to pursue other opportunities. Donna joins us with more than 15 years of experience in business development and investor relations. Her extensive educational background in law and taxation and her enthusiasm for organic farming make her an invaluable addition to Iroquois Valley. Outside of work, Donna enjoys gardening in her downtown Chicago apartment and cycling along Lake Michigan. To schedule an introductory call with Donna, please email her at invest@iroquoisvalleyfarms.com

Donna has recently been featured in Chicago’s Daily Herald: Business Ledger. Click here to read the article on the Daily Herald’s website or scroll down to read the full article.

When President Biden released his plan to protect and grow the rural economy earlier this year, he called for investing in programs that would help farmers reduce their environmental impact while increasing their productivity, profitability, and ability to sequester carbon from the atmosphere.

The goals that Biden’s plan highlights — carbon sequestration through planting cover crops, increasing farm productivity and resilience, and reducing emissions — are core tenets of regenerative agriculture, a more natural way of farming that we at Iroquois Valley Farmland REIT, a nationally recognized Certified B Corp, are well familiar with. After all, Iroquois Valley and its hundreds of mission-minded investors have been helping small farmers increase their organic and regenerative land holdings for nearly 15 years.

Farming is a volatile industry. Food prices and weather patterns fluctuate. Financing options are equally unpredictable. But our experience shows that organic farming is more predictable, more productive, and more profitable than conventional agriculture methods. Studies by our partners at the Rodale Institute and the Organic Farming Research Foundation, and others have found it’s better for our health, our soil, and the planet.

Yet despite the continual, rapid growth of the $60 billion U.S. organic market, organic land makes up less than 1% of our farmland. In Illinois it’s even less: about 39,000 acres out of 27 million. To Iroquois Valley, our investors, and our farmers, these figures represent a problem but also an opportunity.

For most of Iroquois Valley’s existence, investment opportunities were limited to accredited investors who were willing to make long-term commitments of capital, and to share risk with our farmers. We amassed a roster of hundreds of financial advisers, institutions, and individuals financing dozens of farmers across the country. Yet we realized this exclusivity limited our impact.

In 2019 we opened our portfolio to nonaccredited retail investors. There was a long-standing reason for this: We wanted regular people to also be able to support a healthy farm economy, from the soil to the food to the farmers. We knew there were investors out there who didn’t want to play the stock market and who sought a real connection to what their money supported, in this case, ownership of high-quality American organic farmland.

But we also recognized the business case: protection from market forces, flexibility for long-term investors, more stability in our portfolio, and more muscle to increase our holdings and grow organic farmland across the United States.

We correctly predicted the appetite for such an offering. In 2020 despite the disruptions from the pandemic and its economic fallout, Iroquois Valley saw record levels of new investment. More than 130 new investors — nearly half of them nonaccredited retail investors — committed more than $14 million. Not only that, but our land holdings grew by 10% and our stock price grew to $618, steadily growing from $260 in 2008, proving that the value of organic farmland continues to grow.

Would our number of shareholders have grown in 2020 had we not expanded our offering? Perhaps. But because we saw the powerful value of bringing retail investors into the fold, Iroquois Valley — and its investors — were able to make a much greater impact in this vital quest to grow organic land in the United States.

The mission — and opportunity — is even greater as the effects of climate change become more apparent.

As David Miller, Iroquois Valley’s co-founder and CEO, often says: “There’s no liquidity on a dead planet.”

Worried about inflation? Invest in organic farmland

“Now is a very good time to invest in one of human civilization’s oldest and most reliable sources of wealth… farmland.” 

Justin Anderson, Yahoo Finance

Rising fear of inflation is causing many investors to direct their money towards bonds or alternative asset classes instead of the stock market. Despite investors’ concerns, the Federal Reserve continues to hold rates steady, calling any inflation increases “transitory” amid the government stimulus. 

For investors interested in hedging against periods of inflation, farmland is an exceptional asset to diversify an investment portfolio. As the price of consumer goods rises, the price of commodities (such as food) typically rises as well. Food is necessary for survival, so an increase in prices will not affect demand compared to non-essential consumer goods. An increase in the price of food is often accompanied by an increase in the value of farmland — thus making now a prime time to invest in one of our country’s most valuable assets

Although portfolio diversification and the financial upside of farmland investment are at the forefront of our investors’ minds, Iroquois Valley investors are equally concerned with supporting independent farmers, healthy food production, and environmental improvement. When you invest in Iroquois Valley, you are partnering alongside 500+ mission-driven investors working to provide organic farmers with land security and financing. Join us as we invest in the health of our planet, our soil, and our people. 

If We Want to Change Our Food System, We Need to Change Our Finance System

Heritage breed pigs at Yker Acres Farm in Carlton County, MN

While organic farming is growing, only 1% of all U.S. farmland is farmed organically. We’re looking to change that by providing secure, long-term land access for regenerative farmers.

Key quotes:

  • Our investment theory is that land security enables land stewardship — we believe that farmers will thrive when they’re backed by long-term capital that shares risk.
  • In our experience, there’s no shortage of farmers who want to farm organically and regeneratively. The challenge lies in accessing the resources needed for farm viability: land access, capital, and markets. Farmers need systemic support in order to change agriculture and build the regenerative food and farming system we know can exist.

Read our piece in B The Change here.

Events

Iroquois Valley presented at the 2021 Regenerative Food Systems Investment Forum

October 8, 2021
The 2021 Regenerative Food Systems Investment (RFSI) Forum was held September 28-29 in Oakland, CA, and we were honored to have two of our staff members present at the conference. The RFSI Forum catalyzes conversation, advances education, and drives increased investment in regenerative agriculture and food, and attendees include global stakeholders that are committed to transforming our food system.

News

Iroquois Valley recognized as 2021 Best for the World B Corp

August 18, 2021
Iroquois Valley Farmland REIT, PBC is proud to announce our recognition as a Best for the World B Corp: Governance for 2021. This award honors Iroquois Valley for our exemplary governance and commitment to long-term stakeholder-minded business practices.

What We're Reading

Iroquois Valley joins Will County, IL farm alliance to improve soil health, water quality and local economies

August 20, 2021
We need a regional agricultural food, nutrition and conservation business plan that incentivizes farmers to continue producing economic, environmental and social benefits for another 100 years.  

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