Whole Farm Financial Project Year 2 – An Analysis of 2014 Financials
In a Nutshell
12 fruit and vegetable farms provided a profit-loss statement and simple balance sheet for 2014. Four of the 12 are meeting their personal expectations for profitability. Seven of the participating farms also provided data for Year 1 (2013). Number of years farming as a business ranged from 1 – 35 years. The range (difference between highest and lowest reported values) is large for many aggregated categories. Averages (and medians) with large ranges associated should not be used as benchmark values. No two farm financial strategies or situations are the same. This report serves as a starting point for profitability conversations, and for farmers to compare their own numbers with their peers. For six farms whose largest market was Summer CSA, they earned, on average, 68 percent of their total revenue through Summer CSA. All participating farms had debt to asset ratios <0.62. Net income ratios among farms ranged from -0.11 to 0.83. Gross income per acre ranged from $3,020 to $30,191. The conclusion of the report includes reflections from four participating farmers on their numbers, financial strategy, and using this report.