Indiana Corn Marketing Council

What it reported doing in 2024

See schedule o.the mission of the Indiana corn marketing council is to promote innovative solutions that grow the value of corn in Indiana - from seed to customer. To advance this mission, the icmc board of directors adopted a strategic plan for the years 2025-2027 introducing Indiana-based evaluation metrics to measure the impact of projects. The strategic plan builds on the expertise and direction of our farmer-elected board members, ensuring it speaks directly to the needs of Indiana producers. Producer-driven decisions help to ensure relevance, accountability and impact. The strategic plan has four distinct strategic focus areas: market development: the goal of market development is to work with partners to accelerate the demand for Indiana corn in all forms. This is accomplished by funding of projects with the following objectives: - increase livestock and meat exports from Indiana. - expand exports for us corn and corn products - increase demand for ethanol produced in indianasustainability: effective work in sustainability is grounded in environmental, economic and community outreach programs. The projects in this area are focused on: - increasing farmer adoption of improved nutrient and soil health systems. - through community partnerships, strengthen consumer's trust in farmers by highlighting shared economic, environmental and social values. - invest in research that helps farmers produce corn more economicallyvalue creation: the goal of value creation is to increase the value of Indiana corn by new industrial uses to market through partnerships and research in order to:- increase the number of corn-based industrial products in the market.producer engagement: meaningful engagement with Indiana's 20,000+ corn farmers and giving back to farm communities with projects in the following objectives:- increase understanding of the return of checkoff programs back to the farm.- fund programs that allow icmc to engage more deeply with Indiana farmers and their communities.in addition to the four strategic objectives, a successful organization must invest in infrastructure (personnel, marketing, and technology), establish sound fiscal and fiduciary management practices, and develop board leadership within Indiana and national agricultural organizations. The following objectives support these essential areas of organizational strength and sustainability.promotion and board operations: this objective funds activities that support board effectiveness and amplifies icmc's marketing impact. It includes expenses for board meetings, leadership and educational development, core marketing infrastructure, and the management and administration of board-directed programs.national corn growers association (ncga): the national corn growers association (ncga) serves as a national partner by pooling resources from corn-producing states to enhance and expand corn checkoff programs. Ncga supports projects that are reviewed and approved by farmer- and staff-led action teams, ensuring that investments align with producer priorities. Checkoff funds provided by the Indiana corn marketing council to ncga are restricted from use in any ncga advocacy or lobbying activities, consistent with Indiana code requirements governing the use of assessment proceeds.management and administrative oversight: this objective ensures compliance with Indiana code 15-15-12. It encompasses board governance, elections, insurance, financial audits, and accounting. It also includes oversight of remittance and audit processes for first purchasers of corn in Indiana to maintain the integrity of checkoff collections. Core administrative functions including financial audits and oversight of elections-play a critical role in maintaining strong fiduciary oversight and reinforcing icmc's commitment to transparency and accountability.

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 7 of 7 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 9.7%; rating input score 62; 62nd percentile among comparable filings
• Total-asset coverage ratio: 0.88; rating input score 33; 33rd percentile among comparable filings
• Liabilities to assets ratio: 0.22; rating input score 41; 41st percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 2.7% per year; rating input score 100; 25th percentile among comparable filings
• Asset growth: 1.8% per year; rating input score 100; 19th percentile among comparable filings