Valued at $3,000+, the winner will have the opportunity to choose one of the following services:

• MNP’s Ag Risk Management Projector^TM (ARMP) is an interactive tool which gives producers a better understanding of the costs and benefits of the various insurance risk management programs and how they can be tailored to work specifically for your farming operation. Illustrating a unique graphical projection of a producer’s accrued income statement for the upcoming year, we are able to model how the various insurance products (AgriStability, crop insurance, GARS and Just Solutions) fill in a range of production and price loss scenarios. Normally, a projection would include a set of financial statements in traditional format. The goal is to help the producer make better decisions on their risk mgt plan. Other key points:

1. Provides peace of mind and the ability to plan by updating your status in real time throughout the growing season and assessing the damage after major weather events.
2. Helps lenders better understand how your debt service will be affected by income loss
3. Identifies your financial risk of loss
4. Allows you to analyze crop rotation and how it impacts profitability – as well as risk
5. Assists you choosing the most appropriate insurance programs based on your risk tolerance

• MNP’s Regional Benchmark Service: Understanding how to translate day-to-day decisions into annual profits is essential to the ongoing success of every farm operation. MNP is offering a service that will allow you to participate in a Regional Farm Benchmark. Questions it may answer:
  • Are costs proportional to your farm size?
  • Are you achieving expected efficiencies with the additional acres you are farming?
  • Are higher yields translating into more profits?
  • How are my equipment expenses trending against my peers?

• Succession (discovery phase): When you take a step back and look at everything you have worked so hard to build – your legacy – you never want to leave anything to chance. TransitionSMART^TM is the most comprehensive succession program available for farmers. Why? Because we address everything you need to ensure you transition your farm on your terms, never leaving anything to chance. From effective tax strategies to estate planning, family consulting to wealth and asset management, there are so many things you need to take into consideration to ensure the most successful transition for you and your successor. In the discovery phase, we will meet with all members of your family to gain a better understanding of the history of the farm, and what each stakeholder is thinking a successful farm transition might look like.  We will take that information, summarize it into a report, and present the findings to the family in person (or virtually pending your comfort level), laying the foundation for a successful family farm transition plan to commence afterward.

• Cloud Accounting / Bookkeeping: As technology advances, more and more businesses are moving their bookkeeping over to cloud based accounting platforms.  At MNP, we have developed our EASE^TM service line which offers a range of services related to the transition to and ongoing maintenance of a cloud based bookkeeping platform.  Cloud accounting takes record keeping to a whole new level by offering increased transparency for all stakeholder and advisors to the farm, and it opens the door to a sea of exciting new opportunities to analyse your farm’s financial data.  MNP is excited to offer you assistance in converting your record keeping to a cloud accounting system, including 4 hours of training and support or 3 months of actual record keeping for those who do not wish to do the books on their own.