OSAGE | The 73rd Annual Meeting of the Osage Cooperative Elevator was held March 6, 2018 at the Sacred Heart Catholic fellowship hall in Osage. Over 200 patrons and spouses were in attendance. A delicious meal was served by the Sacred Heart Guild.
The meeting was called to order by board Vice President Dale Hemann. Jon Gisleson, board Secretary, read last year’s annual meeting minutes. Guests, employees, and directors were introduced by manager, Gayle Melcher.
The 2017 financial report was presented by Dennis Renner, auditor with Renner & Birchem, Certified Public Accountants of Mason City. The financial results were a local profit in the amount of $1,872,683.00. The board of directors declared a dividend to be paid to patrons at the following rates; grain, 2.1 cents per bushel, feed, 2.75 percent, fertilizer, 2.56 percent, chemicals, 3.9 percent, seed and merchandise, 1.6 percent propane and fuel, 4.03 percent, and services, 16.88 percent. Dividend checks will be distributed at the Coop’s Chicken BBQ this summer at the rate of 35 percent in cash and the balance being deferred.
Checks were handed out to members that evening, for local and regional deferred patronage in the amount of $345,693.00. This amount pays all deferred patronage from the years 2004 and 2005. In the past six years over $2,741,000.00 has been revolved back to the members. The Coop is now only twelve years back in equity revolvement. Profitability of the Coop made it possible for the board to revolve this money back to members.
Manager Gayle Melcher presented a report on the Cooperative’s strong financial success. He thanked employees, directors, and the membership who all made the Coop successful. Manager Melcher presented Bob Johnson with a plaque thanking Bob for his thirty-seven years of service as an employee of the Osage Coop, as he retires this spring. Melcher also presented a plaque to Brad Johnson, thanking him for his nine years as a Director of the Osage Coop.
Manager Melcher also spoke about the capital projects completed in 2017. They included the addition of one million bushel of grain storage and a new liquid fertilizer tank. All the projects that have been done over the last several years help the members as an extension of their farming operations.
Five Class A members ran for three director positions. They included Kevin Nerad, Brian Marcks, Bill Brandau, Travis Kroneman, and Dale Hemann. The membership reelected Kevin Nerad and Dale Hemann, and elected Travis Kroneman to the board of directors.
The evening’s speaker was Deadra Stanton of Mason City, IA, a humorous speaker. Door prizes, provided by the Coop and many of the Coop’s suppliers, were handed out at the conclusion of the meeting.
The Coop employs thirty full time employees and numerus part-time employees. Osage Coop has served the community since 1945. Osage Cooperative Elevator is one of only seven single location Coops in the State of Iowa. The Coop looks forward to the start of its seventy-fourth year of serving the members in the area.