A Year of Discovery and Growth
| ANNUAL REPORT 2010-2011 |
//////////////////////////////////////////////////////////
| CHAIR MESSAGE |
an enthusiastic “hello!” I am pleased to present to you the 2010-2011 annual report. I am extremely proud to represent Ag Leadership, and I hope that my enthusiasm is contagious. During Class 41’s inauguration, I told the audience that Ag Leadership changed my life and, more importantly, the lives of those around me. It challenged me, and consequently, I want to enable others to be the best they can be. I am humbled by the opportunity to serve as the chair for CALF. I once asked my dad, “To what do you attribute your success?” His answer was quick and succinct: “Surround yourself with people smarter than you!” As I look at our board, the competent staff, our CEO, Alumni Council and Education
Team, I can see that I am following the advice from the previous generation! We have made significant progress throughout the last two years and our trajectory is set to an upward position. One of the highlights of the year was participating in the formal review of program content in September 2010. It was remarkable to see dozens of industry leaders come together to support Ag Leadership. We are challenging ourselves. Is the program fulfilling the needs of a diverse agricultural industry? We want the program to be relevant to today’s issues and society. Our goal is a program that will continue to thrive for another 40 years. Demand for skilled, active, proactive and visionary leaders who will address complex issues that affect agriculture, our communities, our business and organization will be ongoing. Ag Leadership is helping to meet the demand. Our fellows and graduates – growers, farmers, ranchers and individuals working in allied businesses – are part of an influential network that
serves to keep farming and ranching a viable and important part of our state’s economy. It would be difficult to quantify all of the past and present volunteer endeavors in which our graduates are involved. I’m sure that if we created a list, it would be several hundred pages long. They are serving on boards, committees, councils and commissions. They are making a difference in our industry and communities. Every year, we are able to effectively train emerging leaders because of our supporters – alumni, friends, the agricultural industry stakeholders and others. Despite difficult financial times, they still come through with support. Thank you for your contributions and your consistent dedication. Finally, I want to recognize our outstanding team members for their hard work: Bob Gray, fellow board members, Alumni Council, staff, core faculty members, and partner universities and their deans. We grow leaders who make a difference. Best regards,
Loren Booth Class 27
2 CALF Annual Report 2010-2011
////////////////////////////////////////////////////// Board of Directors 2010-2011
Core Faculty Members
Loren Booth, Chair Booth Ranches LLC
Dr. Michael Thomas California State University, Fresno
Jeff Elder, Vice-Chair J.G. Boswell Company
Dr. Peggy Sears Perry California State Polytechnic University, Pomona
Mary-Ann Warmerdam, Secretary/Treasurer California Department of Pesticide Regulation
Dr. Robert Flores California Polytechnic State University, San Luis Obispo
John Colbert Greenleaf Farms, Inc.
Dr. Annie King University of California, Davis
David W. Krause Paramount Citrus Association
University Deans
Christopher C. Nelson MIXTEC Group Rod Stark Valley Small Business Development Corporation
| CALF LEADERSHIP |
Dr. Charles Boyer California State University, Fresno Dr. Lester Young California State Polytechnic University, Pomona
Pierre Y. Tada Granite Peak Partners
Dr. David Wehner California Polytechnic State University, San Luis Obispo
Dr. Neal Van Alfen University of California, Davis
Dr. Neal Van Alfen University of California, Davis
Deanna van Klaveren Generation Growers, Inc. Rob C. Yraceburu Wells Fargo Bank
3 CALF Annual Report 2010-2011
|
CALF & CALP |
//////////////////////////////////////////////////////////
CALF: highlights of the 2010-2011 fiscal year The year began with a flurry of activity focused on program content and delivery, and on the long-term financial health and stability of the foundation that supports it. In August 2010, Dr. Charlie Crabb and Dr. Michael Thomas exchanged roles and became program advisor and director of education, respectively. Supporting this move were the College of Agriculture deans from our four partner universities that help deliver the program. In September, a formal program review was conducted over two days. Participants included stakeholders from two broad groups of emerging leaders and industry leaders (a younger and an older cohort, consisting of program alumni and non-alumni), as well as the Education Team and a peer institution observer (the dean of the University of Arizona’s College of Agriculture and Life Sciences). They all exchanged views in separately facilitated sessions and then in general session. From that exercise, some 15 items were addressed by the Education Team for the balance of the fiscal year. From July to September, a professional philanthropic advisory firm conducted a feasibility study to determine the appetite in the stakeholder community for a capital campaign. Such campaign would create financial stability, a measure of independence from our reliance on a few generous legacy donors, and a sustainable future. Survey results were encouraging. The restricted fund group benefitted from a generous
4 CALF Annual Report 2010-2011
endowment gift and a positive market performance during the year to increase by over $1.8 million dollars (or 48% versus the prior year). We strengthened the balance sheet and grew the bottom line. Following the board’s decision in FY2010 to undergo a thorough “governance tune-up” – conducted pro bono by Stanford Law School – and rewrite its bylaws and update its policies, the Alumni Council embarked on a similar journey. It resulted in a much different, but very transparent nomination and election procedure that was inclusive, deliberate and open. As a result, many new faces joined the Alumni Council. After a transition year, the leadership would be selected by and from those who were elected, not via a separate electoral process. Events continued to evolve and make major contributions. The Agricultural and Government Leaders Reception was reenergized by an alumni committee that recreated its original purpose – and landed the governor as the impromptu keynote speaker. In April 2011, a social and networking All Class Reunion was launched with great enthusiasm and energy. Board Chair Loren Booth (27) was very much the inspiration behind the event and is to be thanked for the generous donation of her ranch property and for event management and support from various Booth Ranches vendors. As the program review evolved into an action plan over the winter, the Core Faculty realized that they could benefit from certain expert and focused curriculum advice from a leadership professional. With the foundation’s support, Dr. Pat Lattore
By Bob Gray President and CEO
returned as curriculum advisor, teacher and coach. He made an initial presentation about leadership as influence at the All Class Reunion. This was followed up over the summer with intense working sessions with the Core Faculty focusing on curriculum. To assist the development effort and consistent with the plans for a sustainable future and a proposed endowment campaign, CALF hired Rick Vorpe, a 21-year veteran of the UC Davis development office, as director of development in May 2011. To help perpetuate and better secure the financial future, we instituted “unitized accounting” within the restricted fund group (the endowment funds) within our bank’s trust and custody department, to insure continuity of accounts in the event of changes in personnel, foundation or board leadership, or other events. Communication efforts continued to improve, with two feature articles on Ag Leadership in major trade association and regional magazines (at no cost to CALF). In May, Horizons magazine won a media award and our new website went live to much acclaim. Perhaps most importantly, we increased the number of program applicants to a 10-year high in 2011! The changes in the program and the foundation are being noticed, we are getting better and stronger every day, and people want to participate in a good thing. Without our many private donors and contributors – we receive no public money – none of this would have happened. Thank you all for making this possible.
////////////////////////////////////////////////////// striving for excellence
| CALF & CALP |
By Dr. Michael Thomas Director of Education
Analysis, Review and Improvement For the Education Team, the 2010-2011 year was one of analysis, review and improvement. Several priorities, for both content improvements and process changes, were identified in the formal review of the program in September 2010. Following that meeting, a main task for the Education Team was to implement the enhancements that were identified and prepare a plan to review every aspect of the program. Our objective was to streamline the program using new communication tools to meet the needs of the current Ag Leadership fellow. While making substantial improvements, our responsibility was to keep the integrity of a high-impact program that had worked well for many years. Based on the input from alumni, industry leaders and others, we had the task of making the program more relevant for the current generation of leaders without losing the vision of the program founders. We needed to make positive changes while keeping the important topic areas that had made this program successful. Among the content changes, we added mentoring, coaching and teamwork as three important program enhancements that would produce concrete and visible outcomes. We also enlisted a leadership theory specialist as one of our faculty presenters, to give fellows the foundational leadership theory background, and a conflict resolution specialist, who would educate fellows about
the basic theory of conflict resolution illustrated by real-world examples. The remaining content areas would include some additional practical business skills needed by leaders today. The organizational change started in June 2011 with a strategic planning meeting that included the Education Team, Bob Gray, Dr. Pat Lattore and Tess Cox. Dr. Lattore guided us through a zero-sum planning process, where we started from nothing and built the curriculum from the ground up. Fortunately, at the end of that exercise, a curriculum with the familiar challenges of the great Ag Leadership experience still remained. The program was condensed, focused and modernized – but it still had a familiar feel. The result of our focused efforts was a revised curriculum – slightly shorter, more focused on the individual fellow, and modernized to fit the adult learner of today. We maintained the emphasis of Ag Leadership’s core values and experiences (including the national and international travel seminars) and included improvements in core value competencies such as synthesis, public speaking and experiential learning. We plan for improvements in engaging employers
and alumni. More frequent visits by alumni and Alumni Council are now regularly built into seminar agendas. Individual coaching is the most significant new aspect of the program. Coaching will involve working with Dr. Lattore and Tess Cox as they demonstrate how this process can be implemented. They helped us run this program with Class 42 fellows during their first year. Core faculty will need professional development training in evaluative personality and preference instruments like the MBTI (Myers-Briggs Type Indicator), but including additional instruments such as TKI (ThomasKilmann Conflict Mode Instrument), CPI 260 (California Psychological Inventory assessments) and the 360 Review.
Education Team Members Dr. Peggy Sears Perry Dr. Robert Flores Dr. Annie King Dr. Michael Thomas Dr. Charlie Crabb Leslie Leavens-Crowe (34) Sue DiTomaso (32)
5 CALF Annual Report 2010-2011
/////////////////////////////////////////////////////////
| CLASS 40 |
Class 40 Fellows Inauguration: November 2009 | Graduation: June 2011 Chris Amble Randy Asadoor Karm Bains Yissel Barajas Jaime Bayona Scott Beylik Jeff Boldt Missy Borel
6 CALF Annual Report 2010-2011
Melissa Duflock Kyle Goehring Bill Hammond Mica Heilmann Erik Jertberg Matt Jones Kandi Manhart Jim Peterson
Doug Phillips Mike Poindexter Sarah Reynolds Mike Richardson Jim Shattuck Dan Sutton Melissa Varcak David Warter
///////////////////////////////////////////////////////
| CLASS 40 |
Class 40 International Travel Seminar Turkey and Israel February 2011
At a time when the Middle East was in turmoil, Class 40 fellows traveled to Turkey and Israel for their international travel seminar. It was an incredible opportunity for them to increase their awareness of this historical part of the world. The cultural, political and historical leadership experiences of the trip would undoubtedly have an impact on their personal and professional lives.
Important Issues — In Turkey, officials from the U.S. Embassy and U.S. Consulate provided fellows with a deeper understanding of significant issues and diverse cultures in the country. The World Wildlife Fund of Turkey discussed natural resources and conservation, while the DSI (State Water Works for Turkey) discussed the construction and importance of the Ataturk Dam. Fellows learned about the economic, social and cultural objectives and impacts associated with the GAP project, a multi-sector project that includes ag, transportation, health, tourism, and social equity programs. In Israel, personnel from the U.S. Embassy and U.S. Consulate briefed fellows about
economics and politics, as well as relations between neighboring countries and with the United States. Netafim and Israel’s national water company focused on irrigation and water systems.
The People — Fellows found common ground with people halfway across the world. They visited with students and professors at the University of Gaziantep. During dinner with Kurdish businessmen, they discussed eco tourism, California agriculture, the European Union, social and cultural issues, and U.S. investment opportunities in Turkey. Fellows also learned more about different lifestyles while staying at a kibbutz, visiting with Bedouin tribe members and talking with a community of farmers.
Unique Places — The power of the past was palpable as fellows toured the historic sites of Istanbul, the ancient city of Harran and the archaeological site Göbekli Tepe in Turkey, as well as the Masada, Holocaust History Museum, Old City of Jerusalem, Bethlehem, Jericho and Nazareth in Israel.
7 CALF Annual Report 2010-2011
/////////////////////////////////////////////////////////
| CLASS 41 |
Class 41 Fellows Inauguration: November 2010 | Graduation: June 2012 Rick Burnes Ali Elhassan Matthew Fisher Juan Guzman Cesar Hernandez Christine Ivory Steve Knudsen
8 CALF Annual Report 2010-2011
Matt Lohse Stuart Mast Joey Mendonca Breanna Owens Vernon Peterson Dan Rodrigues David Shabazian
Elisabeth Silva Todd Snider Jorge Suarez Stephanie Tillman Matt Toste
///////////////////////////////////////////////////////
| CLASS 41 |
Class 41 National Travel Seminar Washington, D.C. and Arizona March 2011
During the national travel seminar, Class 41 fellows had 11 days of exposure to multi-dimensional topics. Meetings with top-level government, business and community leaders provided a valuable extension to the study of state and national issues during the first year of the program.
making styles, decision-making under pressure, organizational design issues, ego and emotion, strategic thinking, communication and intelligence. Fellows learned the importance of effective communication and being open to different perspectives in making strategic and tactical decisions.
National Issues —The nation’s
Contentious State Issues —
capital featured a full schedule of thought-provoking briefings on national issues. Part of the fellows’ educational and leadership experiences were meetings with several congressional representatives and staffers, USDA staff, The Humane Society of the United States, Brookings Institute, and the White House Council on Environmental Quality.
Gettysburg and Leadership — Dr. Stephen Randolph educated the fellows about leadership success and failure lessons during a visit to the Gettysburg National Military Park. He exposed them to leadership principles, different decision-
Fellows gained valuable insight into the contentious topics of illegal immigration and border security, and how they have an impact on the state, its citizens and the agricultural industry. One of the goals was to help the class recognize that leadership is about being able to examine an issue from several perspectives. The fellows met with various individuals who weighed in with their views on the issues: Arizona legislators, ag industry representatives, family farmers and ranchers, a county sheriff, members of the Tohono O’odhman Nation, border patrol officers and local business owners.
9 CALF Annual Report 2010-2011
| ALUMNI COUNCIL |
/////////////////////////////////////////////////////////
A Spirit of Alumni Revitalization
As the foundation and the Ag Leadership Program were experiencing transformation, so too was the alumni group. For the organization to stay strong, it needed fresh ideas and renewed enthusiasm.
One of its first efforts was a name change. At a September 2010 meeting, the Fellows Council changed its name to the California Ag Leadership Alumni Council, as the directors felt this was a more accurate description. Following that meeting, the Alumni Council began to implement many positive changes in an effort to enhance alumni activities, the foundation and the class experiences. In early 2011, the Alumni Council completed a process of significantly revising the “policies and procedures” document that governs its affairs – with the goal being a more transparent and inclusive organization. It resulted in a major change in the way the council generates nominations, conducts elections, and selects its leadership. This new process was followed during spring/ summer 2011 and resulted in a new Alumni Council with renewed excitement for Ag Leadership. The Alumni Council also began reevaluating the role of the annual conference and how to shape the event to satisfy different needs. Some alumni wanted a mostly informal and social event that would serve as a reconnection and networking event, while others wanted an educational conference with serious content that would be similar to an Ag Leadership seminar experience. While the annual conference was on hiatus, the Alumni Council hosted the first ever All Class Reunion.
Alumni Council Leadership EXECUTIVE COMMITTEE Mike Young, Chair Phil Waddell, Vice Chair Holly Dawley, Secretary/Finance Deanna van Klaveren, Past Chair
10 CALF Annual Report 2010-2011
2010-2011
REGIONAL DIRECTORS REGION 1: Holly Dawley REGION 2: John Azevedo REGION 3: Mary Kimball, Sue DiTomaso REGION 4: Robin Flournoy REGION 5: Darlene Din REGION 6: Nomie Kautz, Gail Gray REGION 7: Lino Bozzano, Todd Collins REGION 8: Marcia Wolfe, Rob Geis REGION 9: Leslie Leavens-Crowe, Art Bliss REGION 10: vacant
///////////////////////////////////////////////////////
| ALUMNI COUNCIL |
Alumni Council Events and Activities
The Alumni Council organizes and hosts a variety of social and fundraising events and educational programs in different regions of the state during the year. Alumni volunteerism and leadership is essential to the success of these activities.
JULY/AUGUST 2010 • Washington, D.C. Educational Fellowship Program (D.C. Exchange), Regions 9 and 10 SEPTEMBER • 20th annual Region 9 Golf Tournament, Camarillo (raised $35,000 for CALF) NOVEMBER • 21st annual Dean Brown Golf Tournament, Santa Maria (raised $35,000 for CALF) • Alumni-hosted reception at Class 41 inauguration JANUARY 2011 • 8th annual Agricultural and Government Leaders Reception, Sacramento FEBRUARY • 9th annual Colusa Farm Show Breakfast (raised $12,300 for CALF) • 17th annual Ag Leadership Alumni World Ag Expo Breakfast (raised $78,500 for CALF) • Region 1 recruitment event, Montna Farms, Yuba City MARCH • D.C. Exchange selection committee travels to D.C. to interview candidates. • Region 6 recruitment event, Sun Maid Growers of California, Kingsburg
APRIL • All Class Reunion, Booth Ranches, Minkler • Region 10 recruitment event, home of Tony and Sue Godfrey, Fallbrook • Region 2 recruitment event, Kendall Jackson Wine Center, Fulton MAY • Talley Vineyards BBQ and Region 7 recruitment event, Arroyo Grande • Region 3 wine workshop / alumni reception and dinner / Class 40 presentation, UC Davis JUNE • Region 6 Alumni Golf Tournament, Madera (raised $13,400 for CALF)
D.C. EXCHANGE This highly praised program is a unique way for federal agency officials to travel far beyond the Washington Beltway to see California agriculture up close. The 19 fellows started the weeklong program in San Diego County, and then traveled to Imperial Valley, Riverside, and Ventura County. They were exposed to current issues and challenges affecting the state’s agricultural industry – including water, pests, inspection and surveillance, labor, food safety, border protection and regulations. Fellows also saw and
learned about innovative and hightech farming practices. Perhaps most beneficial were the one-on-one talks and discussions that they engaged in with farmers, ranchers and other industry representatives. “You are what makes America great and what makes America what it is. You are the risk takers, the entrepreneurs, and the salt of the earth. You made me realize why I need to do my job better and why food and feeding America is vital to keeping our country great.” –Chris Church, USDA “The issues and problems people face are so unique. It’s really been a wonderful experience being able to better understand the complexity of issues and to hear firsthand from growers what issues they have.” –Mary Jane Whitney, USDA
ALL CLASS REUNION The Alumni Council hosted its first ever All Class Reunion in April 2011. Nearly 250 people attended the weekend reunion, held at a beautiful 300-acre ranch in the eastern Fresno County town of Minkler – courtesy of Loren Booth (27). It was a terrific country-style outdoor event featuring delicious food, a chili cook-off, camping, dancing and other fun activities. The ranch was a special and welcome setting for alumni, family members and friends to come together.
11 CALF Annual Report 2010-2011
/////////////////////////////////////////////////////////
| TESTIMONIALS |
Reflections on Ag Leadership Quotes excerpted from articles featured in Horizons magazine (2010-2011) “I gained a lot from the program. Ag Leadership was a great learning experience. I truly enjoyed the sessions and interaction with all of the people involved.” Ann Thrupp
“Ag Leadership was amazing and I can’t say enough good things about it. The education is invaluable. It gives you a broad view of the world. It takes you out of your normal element and exposes you to things that you would’ve never been exposed to. Having that depth can affect you and make you a better person because you can relate more to things going on in the world.”
Fetzer Vineyards Class 32
Bob Graham
“In some respects it (Ag Leadership) was more of a liberal education that broadened my appreciation for other things in the world and exposed me to so many things I wasn’t familiar with. It expanded my horizons and my capabilities.”
NamasteDirect Class 2
Nita Vail California Rangeland Trust Class 21
“Ag Leadership had a huge impact on me. It was definitely life changing. It built my sense of self and gave me more conviction about what I thought and how to bring it into the world. The long-term impacts of this program on society are so significant. Look at what graduates are contributing to the industry and communities.”
12 CALF Annual Report 2010-2011
“For me, Ag Leadership was an opportunity to delve into my values, expand my horizons, develop networks, and view things from a truly global perspective. It also led me to the position I have held for the last 20 years at the Lodi Winegrape Commission. Through all program activities we learned that leadership is about making a difference. It requires that we first choose to make a difference, and then take action on that decision. “What we have seen in the Lodi wine region shows what can be accomplished when clusters of Ag Leadership graduates set their minds and their resources on change. Lodi had long been underappreciated for the quality of its grapes and wines, and growers were set on changing the reputation of the area. A successful referendum campaign headed by a powerful pack of Ag Leadership graduates led to the establishment of the Lodi Winegrape Commission in 1991. Together we have created industry-leading programs in marketing and research, and conduct the leading sustainable viticulture program in the nation, arguably the world. The Lodi wine industry, and the entire local economy, has benefited immensely due to the combined efforts of some dedicated Ag Leadership alumni. We have made a difference.”
Dino Giacomazzi Giacomazzi Dairy Class 36
Mark Chandler Lodi Winegrape Commission Class 18
///////////////////////////////////////////////////////
| FINANCIALS |
Financials
13 CALF Annual Report 2010-2011
| FINANCIALS |
/////////////////////////////////////////////////////////
Statements of Activities June 30 - 2010 and 2011 2010 2011 $
$
Unrestricted Revenues and Gains Special events gross revenues
232,275
406,093
Less: special events direct costs
(75,495)
(33,907)
Net revenues from special events
156,780
Contributions
1,399,212
Net investment income
488,010
239,920
In-kind revenue
26,374
27,283
Other income
22,313
14,360
TOTAL UNRESTRICTED REVENUES AND GAINS:
2,092,689
372,186 1,406.077
2,059,826
Expenses Program services
1,157,391
1,188,955
Fundraising
243,954
249,976
General and administrative
414,554
455,356
Granted fund expense
_ 200,000
TOTAL EXPENSES:
1,815,899
INCREASE (DECREASE) IN UNRESTRICTED NET ASSETS
CHANGE IN TEMPORARILY RESTRICTED NET ASSETS:
_ 637,203
INCREASE IN TEMPORARILY RESTRICTED NET ASSETS:
_ 637,203
CHANGE IN PERMANENTLY RESTRICTED NET ASSETS:
INCERASE IN PERMANENTLY RESTRICTED NET ASSETS:
112,975 1,032,472
CHANGE IN NET ASSETS:
389,765 1,635,214
NET ASSETS, BEGINNING OF YEAR
NET ASSETS, END OF YEAR:
4,659,825
2,094,287
276,790 (34,461)
112,975 1,032,472
4,270,060 4,659,825 6,295,039
/////////////////////////////////////////////////////////////////////////////////////// 14
CALF Annual Report 2010-2011
///////////////////////////////////////////////////////
| FINANCIALS |
Statements of Financial Position June 30 - 2010 and 2011 2010 2011 $
Assets
$
CURRENT ASSETS: Cash and Cash equivalents:
131,739
Accounts receivable
4,605
Short-term investments
110,670
Other current asset
2,500
TOTAL CURRENT ASSETS:
249,514
_ 2,616 83,840 2,500 88,956
Property and equipment, net
15,614
Long-term investments
4,586,498
6,348,100
10,323
TOTAL ASSETS:
4,851,626
6,447,379
Liabilities and Net Assets CURRENT LIABILITIES: Cash overdraft
_
40,323
Accounts payable
138,228
46,823
Funds held for others
28,878
28,887
Other current liabilities
24,695
36,307
TOTAL CURRENT LIABILITIES:
191,801
NET ASSETS:
Unrestricted:
Undesignated
941,129
1,000,000
Board designated
152,340
906,668 1,000,000
Temporarily restricted
_
637,203
Permanently restricted
2,718,696
3,751,168
TOTAL NET ASSETS
4,659,825
6,295,039
TOTAL LIABILITIES AND NET ASSETS:
4,851,626
6,447,379
////////////////////// //////////////////////////////////////////////////////////////////////////////////////// 15
CALF Annual Report 2010-2011
| FINANCIALS |
/////////////////////////////////////////////////////////
Statements of Cash Flow June 30 - 2010 and 2011 2010 2011 $
Cash Flows From Operating Activities CHANGE IN NET ASSETS:
$
389,765
1,635,214
Depreciation
8,640
5,291
Loss on sale of capital asset
3,749
—
Net realized/unrealized (gain) loss on investments
(364,389)
(712,121)
Contributions for endowment purposes
(112,975)
(1,032,472)
(Increase) decrease in:
Accounts receivable
8,317
1,989
Other current asset
(2,500)
—
Accounts payable
115,593
(91,405)
Funds held for others
13,353
9
Other liabilities
13,195
11,612
72,748
(181,883)
Investment purchases
(731,768)
Property and equipment purchases
(9,705)
—
Proceeds from sale of investments
273,479
2,049,748
Proceeds from sale of equipment
NET CASH USED BY INVESTING ACTIVITIES:
Cash Flows From Financing Activities
Permanently restricted contributions
112,975
1,032,472
Cash overdraft
_
40,323
NET CASH PROVIDED BY FINANCING ACTIVITIES:
112,975
1,072,795
NET DECREASE IN CASH AND CASH EQUIVALENTS:
(278,771)
(131,739)
CASH AND CASH EQUIVALENTS- BEGINNING OF YEAR:
410,510
131,739
CASH AND CASH EQUIVALENTS- END OF YEAR:
131,739
Adjustments to reconcile change in net assets to net cash provided (used) by operating activities:
Increase (decrease) in:
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES:
Cash Flows From Investing Activities
3,500 (464,494)
(3,072,399)
— (1,022,651)
_
/////////////////////////////////////////////////////////////////////////////////////// 16
CALF Annual Report 2010-2011
///////////////////////////////////////////////////////
| FINANCIALS |
Note to Financial Statements June 30 - 2010 and 2011 2010 $
Investments
2011 $
Investments are stated at fair value based on quoted market prices and were composed of the following at June 30:
Money market funds
110,670
83,840
Domestic stocks and stock funds
1,840,625
3,079,012
International stocks and stock funds
573,189
918,755
Domestic corporate bonds and bond funds
2,043,033
1,737,574
International corporate bonds and bond funds
129,651
TOTAL INVESTMENTS:
612,759
4,697,168 6,431,940
The following schedule summarizes net investment returns
for the years ended June 30: Interest/dividend income
148,646
191,403
Realized/unrealized gains (losses) on investments
364,389
712, 122
Investment fees
(25,025)
(26,402)
TOTAL INVESTMENT INCOME (LOSS) - NET:
488,010 877,123
Hayashi & Wayland opened its doors in 1976 and has grown to become one of the premier professional services firms on the Central Coast. The firm’s founding partners, Douglas Hayashi & F. Warren Wayland, based their partnership on the belief that the firm’s success can only be measured by the success of its clients and its commitment to building a stronger community. Hayashi & Wayland has extensive experience working with agriculture industry businesses of all types, and also considers it an honor to partner with over 50 of the local nonprofit organizations.
//////////////////////////////////////////////////////////////////////////////////////// Accounting & Consulting
Retirement Plan Service
Wealth Management
17
CALF Annual Report 2010-2011
/////////////////////////////////////////////////////////
| FINANCIALS |
Performance FISCAL YEAR END: JUNE 30
Restricted
2010
$3,863,842
$5,707,991
$828,626
$723,950
Unrestricted
ALLOCATION
2011
Restricted Composite Policy Index Restricted* Unrestricted Composite Policy Index Unrestricted **
Market Value
Year to Date
1 Year
3 Years
5 Years
Since Inception
Inception Date
$5,707,991
3.9 4.9 2.9 4.4
18.3 20.9 9.4 16.9
4.9 4.9 4.3 5.4
5.4 4.6 4.8 5.1
6.3 5.0 5.6 5.5
May-05
$723,950
Restricted includes Buchinger Fund
PERFORMANCE
May-05
*Restricted Policy Index: 65% S&P 500/ 35% Barclays Capital Aggregate **Unrestricted Policy Index: 50% S&P 500/ 50% Barclays Capital Aggregate
Asset Allocation | Restricted Composite
| $5,707,991 |
FISCAL YEAR END: JUNE 30 Segments
Market Value
Domestic Equity $2,804,875 International Equity $829,429 Domestic Fixed Income $1,423,391 International Fixed Income $570,125 Cash Equivalent $80,171
BY SEGMENT
Manager
Allocation 49.1% 14.5% 24.9% 10.0% 1.4%
BY MANAGER
Restricted includes Buchinger Fund
Market Value
PIMCO Total Return Fd $1,423,391 Janus Advisor Risk Managed Growth $849,226 Artio Int’l Equity I Fd $829,429 Mainstay ICAP Select Equity $827,688 PIMCO Diversified Income $570,125 Boston Co. SMID Cap Growth $567,061 CRM Mid Value Equity Fd $560,901 Restricted Cash $80,171
Allocation 24.9% 14.9% 14.5% 14.5% 10.0% 9.9% 9.8% 1.4%
Restricted includes Buchinger Fund
SINCE MANAGED BY CANTERBURY
2010 vs. 2011
$6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
$6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
$5,707,991 $4,110,371
$4,077,124
$3,909,970
$3,307,498
$3,863,842
$5,707,991 $3,863,842
47.7 PERCENT INCREASE INCLUSIVE OF CASH FLOWS
/////////////////////////////////////////////////////////////////////////////////////// 2006
2007
18
CALF Annual Report 2010-2011
2008
2009
2010
2011
Restricted includes Buchinger Fund
2010
2011
Restricted includes Buchinger Fund
///////////////////////////////////////////////////////
| FINANCIALS |
Asset Allocation | Unrestricted Composite
| $723,950 |
FISCAL YEAR END: JUNE 30
BY SEGMENT
Segments
Market Value
Allocation
Domestic Equity International Equity Domestic Fixed Income International Fixed Income Cash Equivalent
$274,137 $89,326 $314,183 $42,634 $3,670
37.9% 12.3% 43.4% 5.9% 0.5%
SINCE MANAGED BY CANTERBURY $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0
BY MANAGER
Manager
Market Value
Allocation
PIMCO Total Return Fd PIMCO Artio Int’l Equity I Fd Artio Int’l Equity I Fd Janus Adviser Risk Management Growth Mainstay ICAP Select Equity Fd CRM Mid Value Equity Fd Boston Co. SMID Cap Growth PIMCO Diversified Income Restricted Cash
$214,373 $99,810 $89,326 $85,221 $84,504 $52,837 $51,575 $42,634 $3,670
29.6% 13.8% 12.3% 11.8% 11.7% 7.3% 7.1% 5.9% 0.5%
2010 vs. 2011
12.6
$1,443,385 $1,347,255
$828,626 $723,950
$743,608 $567,008
$850,000 $800,000 $750,000 $700,000 $650,000
$828,626 $723,950
PERCENT DECREASE INCLUSIVE OF CASH FLOWS
////////////////////// //////////////////////////////////////////////////////////////////////////////////////// 2006
2007
2008
2009
2010
2011
2010
2011
19
CALF Annual Report 2010-2011
/////////////////////////////////////////////////////////
| FINANCIALS |
Restricted Fund Group Corpus RESTRICTED FUND GROUP
YEAR END 6/30/2010
Dean Brown Endowed Founder’s Chair JG Boswell II Endowed Founder’s Chair Special Purpose Accounts Board Designated Endowment Charles Buchinger Memorial Endowment* Franklin Otis Booth Legacy Fund Dean Brown Growth and Innovation Fund JG Boswell II Legacy Fund
$1,000,000 $1,000,000 $690,546 $1,000,000 $70,855 _ _ _
Total Restricted Fund
$3,761,401
2011 FISCAL YEAR CONTRIBUTIONS
Corpus
Value
YEAR END 6/30/2011
YEAR END 6/30/2011
$47,570 $7,600 $952,302 $25,000
$1,032,472
$1,000,000 $1,000,000 $738,116 $1,000,000 $78,455 $952,302 $25,000 _
$1,188,214 $1,188,214 $868,358 $1,188,214 $115,702 $1,134,333 $24,955 _
$4,793,873
$5,707,991
*Consolidated with other restricted funds for investment management purposes, July 1, 2011
Special Purpose Accounts Corpus SPECIAL PURPOSE ACCOUNTS FELLOWSHIP FUNDS: Alumni Fellowship Dean Brown Fellowship Women in Leadership Fellowship Lagomarsino Family Fellowship Richard Pidduck Fellowship Manassero Fellowship
ENDOWMENT FUNDS: Borba Family Endowment Ladera Foundation Class 12 Endowment Class 17 Endowment Class 30 Endowment Class 33 Endowment General Endowment MEMORIAL FUNDS: Tim O’Neill / Class 10 Memorial Fund Michelle Turner Memorial Endowment Total
20 CALF Annual Report 2010-2011
YEAR END 6/30/2010 $6,150 $5,000 $9,220 $25,000 $31,000 _
$110,000 $191,000 $12,075 $24,635 $46,647 $25,949 $165,250
2011 FISCAL YEAR CONTRIBUTIONS
$36,350
$5,000
$4,600 $300
Corpus
Value
YEAR END 6/30/2011
YEAR END 6/30/2011
$6,150 $5,000 $9,220 $25,000 $31,000 $36,350
$7,235 $5,882 $10,847 $29,411 $36,470 $42,764
$110,000 $196,000 $12,075 $24,635 $51,247 $25,949 $165,550
$129,410 $230,585 $14,206 $28,982 $60,290 $30,528 $194,762
$17,145 $21,475
$1,320
$18,465 $21,475
$21,723 $25,264
$690,546
$47,570
$738,116
$868,358
/////////////////////////////////////////////////////// July 1, 2010 to June 30, 2011
$1,000,000+ Loren Booth
$950,000
The James G. Boswell Foundation
$100,000
The Otis Booth Foundation
$75,000+
World Ag Expo Ag Leadership Alumni Breakfast
$35,000
Dean Brown Golf Tournament Region 9 Golf Tournament
Wegis and Young Property Management, LLC (Mike Young, Greg Wegis and Rick Wegis)
$7,500
Reiter Affiliated Companies
$5,000+
Bank of the West Dan and Jean Errotabere Personal Ag Management Services, LLC John Colbert The Norton Foundation (John and Lillian Norton)
$4,000
$30,000
Wells Fargo Foundation
California Association of Winegrape Growers Saticoy Lemon Association
$25,000+
$3,000
Anonymous Borba Agribusiness (Mark Borba) Wells Fargo Bank Western Growers Association
Abundant Harvest Organics Rod and Carol Stark Ventura County Community Foundation
$20,000
Boutonnet Farms, Inc. Rose-Marie Burroughs Gary and Diana Cusumano D’Arrigo Bros. Co. Jim and Kristen Finch Robert and Patricia Gray Ejnar Knudsen LangeTwins, Inc. (Bradford Lange) LangeTwins, Inc. (Randall Lange) Benina Montes NewFields Prudential Financial Rolling Ridge Ranch T&P Farms The Passport Foundation (match for Ejnar Knudsen) U.S. AgBank Raymond Tonella
Azzule Systems
$15,000
Capital Insurance Group Harden Foundation Rabobank, N.A.
$10,000+
Bowles Farming Company, Inc. C.H. Robinson Co. Class 39 Colusa Farm Show Breakfast Farm Credit West Granite Peak Partners (Pierre Tada) Lagomarsino Group George and Kathleen Myers Olive Hill, LLC Region 6 Alumni Golf Tournament Supima Syngenta T.E.L. Foundation (Hidden Villa Ranch and Mike Sencer) Tanimura Family Foundation Taylor Farms California, Inc.
$2,500+
$2,000+
Jeffrey and April Bitter Blue Diamond Growers California Ag Summit Leavens Ranches David Martella E. Victor Quattrin
$1,500+
Kevin Grizzle Farms, LLC Poindexter Nut Company R.C. Farms, LLC Region 4
$1,000
BAPU Farming Co LLC (Sohan Samran) Fred and Caroline Berry Philip Bowles BASF Corp. (for Philip Bowles) Mark Burrell (WestMark Group) CHAPA Clauss Dairy Farms Kimberly Clauss Richard Clauss Colusa County Farm Supply Inc. (Terry Talbot) Colusa Tractor Co. Crop Production Services Doug DeGroff Byron Dennis Doug Dickson Driscoll Strawberry Associates, Inc. (Miles Reiter) Tom Dungan Elkhorn Packing Co, LLC Fanciful Company Robert Ferguson Lorraine Finch Food Source, C.H. Robinson Co. John and Sharon Garner Harris Farms, Inc. Jeana and Larry Hultquist Huntington Farms Barry and Kim Johnston King & Gardiner Farms, LLC (Holly King and Keith Gardiner) King City Nursery, LLC Ed and Patricia Kurtz John Lake John Ledbetter Norman and Cynthia Martella Tom and Brianne McGrath Thomas Mulholland Cindy Myers Nelson Irrigation Corp. John Nock Ocean Mist Farms Peggy Sears Perry Richard Pidduck Producers Dairy Foods Progressive Packaging Group, Inc (Robert and Kathy DeVoy)
R. C. Farms, LLC Rio Farms Leland Ruiz San Luis Obispo Farm Bureau, Inc. Jan Smith Richard and Claudia Smith Snow Seed Co. Tim and Kathy Sugishita Rosemary Talley Turlock Fruit Company, Inc. Valley Pride Inc. (Joe Pezzini) Wells Fargo Community Support Campaign (Ken McCorkle) Western United Dairymen Woolf Farming and Processing Chris and Sarah Woolf
$750
Anonymous Ben and Denise Carter Ernie Righetti Western Precooling
$500+
Allied Grape Growers Daryl and Brenda Amble Anthony Costa and Sons Henri Ardantz Art Barrientos Bengard Ranch, Inc CJ Ranch (William Bennett) Carlo Bocardo Michael and Tina Brem California Poultry Federation Ron Caird Michael Campbell Donna Caston-Farmer Gus and Barbara Collin - In Memory of Ray Olson Jeff Colombini James Conn Charlie Crabb Stephen de Lorimier Scott and Leslie Deardorff John DeRuiter Nat DiBuduo Dole Fresh Vegetables Donald Valredo Farming, Inc. Duda Farm Fresh Foods, Inc. Emerald Packaging, Inc. Filice Farms, LP Mike and Jeanette Fitch - In Memory of Ray Olson Robin Flournoy Bryan and Kerri Foley
| DONOR LIST | Four Little Devils Farms, Inc. Donna and Greg France Frank S. Brown LLC David Gill Mark Gilles Glen and Janet Goto Gail Gray Rich Greer John Grether Ed and Susie Grossi Richard Hambleton Todd Hansen Henry Avocado Corp. Adin and Dora Hester Gary and Anne Hester Hidden Villa Ranch Higashi Farms, Inc. HM Holloway, Inc. (Arnold Johansen) Dale and Mary Jane Huss Jeff Boldt Farms, Inc. Eric and Wendy Jenks Sarbjit Johl Hilda and Leland Klein Victor Lanini McKenzie Farms, Inc. Kent and Kathryn McKenzie (McKenzie Farms, Inc.) Clint Miller Mountain View Cold Storage (Jeff Boldt) Sam Nevis Paul Newton Ottone Leach Olsen and Ray LLP Pacific International Marketing Pete and Mona Pankey Stephen and Nikki Patricio Richard Peterson Jean Phillimore Pucheu Bros. Ranch Sherman and Maureen Railsback Miles Reiter (Driscoll’s) River Ranch Fresh Foods, LLC Ruben Rueda Leanne Rutherford Sea Mist Farms Jeff Stephens The David Martella Family The Nunes Company, Inc. Jeff and Elaine Thomson Uesugi Farms, Inc. Val Mar Farms, LLC Scott and Susan Van Der Kar Vann Brothers Carol Varcak
21
CALF Annual Report 2010-2011
| DONOR LIST |
Kim and Thomas Vetsch Mary Zischke
$400+
Bill Adams John Slinkard
$300+
Dennis and Beth Albiani Bank of America Charitable Foundation Bee Sweet Citrus Beecher/Ryan Harvesting, LLC California Family Foods Karen Caplan Blake and Lisa Carlson Dale Coke Cooper Land Corp (Robert Goodwin, Jr.) Noelle Cremers Jeffrey Elder Robert and Kelly Geis Frank Hilliker Adam Icardo Cathie Joughlin Gregory Kirkpatrick Stan Lester Michael Maciel Leo McGuire Cynthia Noble Todd Rehrman Jim Stollberg Ann Thrupp Nick Ustin Raymond and Katie Van Beek Bill and Stephanie Van Skike Deanna and Roger van Klaveren Barbara and Richard Wight Marcia Wolfe Stuart Yamamoto Yuba Sutter Colusa Alumni
$250+
Alsco Geyer Irrigation Scott and Carol Anderson Paul and Kathy Banke David and Dee Bradshaw Maria de la Paz Carpio-Obeso C. William Chandler Robert and Lisa Cherenson Chieftan Harvesting, Inc. Comgro Soil Amendments, Inc. Vernon and Marilyn Crowder Les and Cynthia Crutcher
22 CALF Annual Report 2010-2011
/////////////////////////////////////////////////////////
De Pue Warehouse Darlene Din Terry Fleming Ducato Bonnie Fernandez-Fenaroli 5th Generation Farming (Ryan Schohr) 5th Generation Farming (Tracy Schohr) John and Mary Ann Frye Gila Valley Farms LP John Gorter Harmony Egg Ranch Henry Hibino Farms, LLC Lester and Janet Heringer Stephen and Donna Heringer Phil Hogan Fidela Irigoyen (Wells Fargo Community Support Campaign) J. Link Leavens Farming Mark and Isabella Jacobs Jones Flying Service, Inc Keithly-Williams Seeds Holly King Sharan Lanini Robert and Susan Lilley Patrick Maloney Mark and Megan McKean Ed McLaughlin (EMAC Farms) Eric Merz Mission Produce Richard and Charlene Moss Soapy Mulholland Jon and Alice Munger Stephen and Wendy Murrill New Hope Dairy LLC Tony Olivera Oro Del Norte, LLC Brenda Ouwerkerk Kelly Parsons Steven and Mary Pastor Garrett and Ashley Patricio Garry and Kay Pearson Karen and Tom Pecht Jon Reelhorn James Rice Meredith Rehrman Ritchie Donald and Sally Roberts Elio Rodoni Kim and Bob Rogina Jean Rotta Douglas Rudd David Sasaki Karen Schott Jerry Spencer Jim Storm
John and Joanie Swift Syngenta Terry Farms, Inc. The Growers Company, Inc. The Gualco Group, Inc. Thomas Manufacturing Co, LLC Jon Tkac TMD Creative (Nick Pasculli) Tim and Maureen Treichelt Sally Tripp Marla and Grady Van Cleve Anthony Van Ruiten Richard and Evelyn Vorpe Erik Wilson - Olam Tomato Processors Norm Yenni Woody and Kathryn Yerxa
$200+
Jose Aguiar Mike Bennett John Boyes Armando Ceja Bob Dempel Sue DiTomaso Fifield Land Company Horizon Farms, LLC John Grizzle Farming (John and Donna Grizzle) Jonathan Graves Management Stephen and Elaine Olson Peter Orr Douglas and Caralee Phillips Fritz Ruegger Michael Sarabian Keith and Marcia Swinger Gerald and Carol Varcak Mary-Ann Warmerdam
$100+
Keith and Dana Abercrombie Agra Trading Ken Altman American Takii, Inc. Craig Anderson Jesse Aragon David Arakelian Emily Thacher Ayala Jim and Janice Bogart David and Vikki Bradshaw Lance Brown Dean and Judi Buchinger Henry Carrasco William and Jennifer Carriere Cascade Forest Corporation
Thomas Chandler Cecilia Chi-Ham Steve Chrisman Robert Christensen Tyler Christensen Susan Cohen Cortina Hulling and Shelling, LLC Cropp Co-Op Organic Valley CA John Crossland CRS Farming, LLC (Eric Shannon) Margaret D’Arrigo-Martin Bill Daniell Michael Delbar Robert Denney Leonard Diggs Ron and Nancy Enomoto Miguel Errea Pete Fallini Marc Faye Wayne Gularte (Rincon Farms) Paul Hain Victor Heintzberger Fidela Irigoyen Allan Jensen Kenneth and Laura Johnson Molly and Ray Johnson Mary Kimball Lynn Knudson Larry and Kathleen Lemke Mark Linder Carl Lindgren Randy Linquist Paul Martin Jim and Reva Merriam Michael and Mary Mobley Julie Morris Arvid and Ann Myhre Nature Condos (Bruce Norton) James C. Nickel Kelly Olds Kevin and Bea Olsen Olson Engineering John Palmer Tim Panziera Bob and Sally Parks Mike Phelan Claudia Pizarro-Villalobos Lorri Pride Gene and April Rapp R.A.M. Farms, Inc. Robert Rathbone Alan Reynolds Robert Reynolds Hal Robertson
Robert and Adriana Rodoni Robert Roumiguiere Clifford Sadoian Victor Sahatdjian Robert and Vicky Sheesley Lynne Sill Bob Steinhauer Krishna Subbarao Sunsation Farms, Inc. Bernard and Jane Teunissen The Water Agency, Inc. John Tufenkjian Mark Turula Mike Wackman
Up to $100
Nina Ames Cathey and Mark Anderson Beeler Tractor Co. Woody Barnes Jr. Woody and Jane Barnes Julia Berry Robert Cadenazzi Andrea Card Todd Collins Darrell Cordova Pamela Emery Charles and Ann Endris Christina Fischer Griff’s Feed and Seed Cathy Haas Robert Harris Holt of California (William George) Doug and Allison Larsen Michele and Philip Laverty Larry Layne Robert Mandrell Peter and Vince Marchand Daniel Marcum Jakki McDonald-Pucheu Kathleen Nielsen Elizabeth Ouellette Lane Parker Daniel Robinson Joseph and Karen Russ Ed Ryder Patricia Stever-Blattler Deanna van Klaveren Erik Vink Paul Violett Christopher Wilcox
///////////////////////////////////////////////////////
| THANK YOU |
We’ve Been Here Since 1916...
....And We’ll Be Here Tomorrow. As a stable and dependable source of credit and related services for agriculture and rural America, and the nation's largest provider of financing to farmers and ranchers, Farm Credit funds: • More than $174 billion in agriculture loans. • Nearly 40 percent of all U. S. farm business debt • More than 500,000 member-borrowers • More than $7.5 billion in loans to young, beginning and small farmers. Farm Credit is proud to support this publication and the California Ag Leadership Foundation.
23 CALF Annual Report 2010-2011