David Miller


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David Miller

  1. 1. Since 2007, the first U.S. privatecompany to connect investors withorganic farmland and family farmersDavid Miller, Chief Executive Officer
  2. 2. 2Business PurposeTo operate a for-profit farmland companythat positively impacts local, organic, andsustainable agriculture – focusing on themid-size family farmerBuy land. They aint making anymore of the stuff. – Will Rogers
  3. 3. 3Commitment to the Land• A company committed to hold the land for generations• Investment capital is open-ended and democraticallygoverned• Farmland is not treated as a trade• Farm tenants earn the option to purchase the farm• Voting rights vest after seven years• Transitioning the next generation of sustainable farmlandinvestorsIroquois Valley Farms is the sustainablesolution to farmer land accessOur favorite holding period is forever. – Warren Buffett
  4. 4. 4Commitment to the LandFarmer CommitmentOne generationNext Generation?Board governed with open-ended ownershipIroquois Valley CommitmentConventional Commitment10 yearsMulti-Generational TenuresWell Hopefully…
  5. 5. 5Long Term Focus For the Next GenerationLong Term Source Long Term Use• Broadly based (~80investors)• 40% of the capital fromretirement accounts• Last $5 million offarmland purchases havebeen for young farmersInvestor Base (% of invested capital)Retirement40% General58%College2%
  6. 6. 6High Growth Organic Food MarketSource: Organic Trade Association.Value of Organic Food Market ($ in billions)Organic as % ofTotal Market2000: 1.2%2011: 4.2%
  7. 7. 7Organic Delivers Better ProfitsProfit Per Acre• Productivity from organicfields increases over time• Takes over 10 years to returnsoil health to natural fertilelevels• Multiple research studies,including reports fromindependent third parties,academic institutions, and theUSDA, have demonstratedthat organic farming is moreprofitable than conventionalSource: Rodale InstituteFarm System Trials.
  8. 8. 8Organic Social & Environmental Impacts• In addition to economic benefits for the farmers,organic farms provide numerous social andenvironmental benefits– Higher labor costs and no synthetic input expensesassist local economies rather than corporate profits– No synthetic herbicides, pesticides, or fertilizers– More nutrients in organic foods for end consumer– Build rather than deplete soil organic matter– Use 45% less energy– Conventional systems produce 40% more greenhousegases
  9. 9. 9Seventh Year of OperationNote: 2013 organic acres includes acres scheduled for certification during the year.• Impacting family farmers with 11 farms purchased• Initial investors have seen double digit returns1 2 2 2 4 8 11Farms:
  10. 10. 10Farmland Acres By StateTargetStates366238763Midwest / Great Lakes Regions
  11. 11. 112013 Private PlacementFunding newfarmlandacquisitionsthrough a $6.9million privateplacementMinimum Investment$34,500
  12. 12. 12Recent Purchase – Shiawassee FarmNew young farmers:Brent and EmilyShettler238 acrefarm inMichigan
  13. 13. 13Vision StatementTo form the first publicly tradedsustainable farmland company withgenerational impact for the family farmerwww.iroquoisvalleyfarms.com