DOCSLIB.ORG

2008 Subcommittee Reports of the Legal, Tax and Accounting Committee

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2008 Subcommittee Reports of the Legal, Tax and Accounting Committee 2008 Legal, Tax and Accounting Subcommittee Reports INTRODUCTION The LTA subcommittee reports are prepared annually through the efforts of individuals who serve on NCFC’s Legal, Tax and Accounting Committee. NCFC is deeply grateful for the dedication and generosity of these volunteers, many of whom are national experts in their respective areas of practice. The purpose of the reports is to interpret and highlight the legal, tax and accounting events of the past year, and to discuss in detail many of the issues faced by cooperatives. The legal, tax and accounting issues of farmer cooperatives are affected by a number of external forces and general practice issues, with the added focus of specific industry issues. The LTA subcommittee reports are the only resource summarizing all these issues in a single volume. If you have questions or need materials referred to in the reports, please notify me by email at [email protected] or by telephone at 202.879.0825. Sincerely, Marlis Carson General Counsel & Vice President, Legal, Tax & Accounting 2 The following reports do not constitute specific advice and may fail to address aspects of an issue or development relevant to the reader. Readers should be particularly aware of the importance of checking for subsequent developments, as these reports may not have been updated since originally composed. 3 Table of Contents 2008 Subcommittee Reports of the Legal, Tax and Accounting Committee Page Introduction..............................................................................................................2 Financial Reporting and Audit Issues of Agricultural Cooperatives.......................5 by Dick Cisne, Jay McWatters and Ken Wise Overview of New Tax, Other Legislation and Implementation Issues..................17 Affecting Farmer Cooperatives by Barry Jencik and Kevin Feeley Operating on a Cooperative Basis for Subchapter T and Section 521 Cooperatives ..........................................................................................................23 by Terry Costello and Ron Peterson Cooperative Structures: Mergers, Acquisitions, Joint Ventures and Subsidiaries .....................................................................................................24 by Dave Swanson and Charlie Woltmann Issues Specific to Marketing Orders and Bargaining Cooperatives ......................37 by Ken Manock, Julian Heron and Steve Zovickian Litigation between Cooperatives and Their Members, Including Member Insolvency ...............................................................................................46 by David M. Hayes, Terry D. Bertholf and William P. Hutchison AMT, Tax Accounting and State and Local Tax Issues Affecting Agricultural Cooperatives......................................................................................56 by Dave Simon and Wayne Sine Antitrust .................................................................................................................61 by William Sippel, Michael Lindsay and Don Barnes Environmental Laws and Regulation.....................................................................73 by Randon Wilson and Andy Brown Digest of Cases ......................................................................................................82 by George Benson IRS Industry Specialist ........................................................................................114 by Marla Aspinwall 4 Financial Reporting and Audit Issues of Agricultural Cooperatives 2008 Report Chair Vice-Chair Vice-Chair Dick Cisne Jay McWatters Ken Wise Hudson, Cisne & Co. LLP Dopkins & Company, LLP PricewaterhouseCoopers 11412 Huron Lane 200 International Drive 225 South 6th St, Ste 1400 Little Rock, AR 72211 Williamsville, NY 14221 Minneapolis, MN 55402 Ph: 501-221-1000 Ph: 716-634-8800 Ph: 612-596-6427 Fax: 501-221-9236 Fax: 716-634-8987 Fax: 612-373-7160 E-mail: [email protected] The information available on financial reporting and audit issues which could be applicable to agricultural cooperatives is vast and is beyond the scope of this subcommittee’s resources to analyze and report on each one. This year’s report will cover the most talked about developments, some with effective dates prior to 2008, but whose application is still of interest to cooperatives and their advisors. Pronouncements of the Financial Accounting Standards Board can be obtained from its website at www.FASB.org. Statements and pronouncements on auditing standards along with statements of position, interpretations and professional pronouncements by the American Institute of CPA’s can be obtained from its website at www.AICPA.org. Exposure drafts outstanding are listed each month in the Journal of Accountancy by issuer, which also lists the issuer’s web address and mailing address. Definitions/Terms: GAAP - Generally Accepted Accounting Principles AICPA - American Institute of Certified Public Accountants EITF - Emerging Issues Task Force FASB - Financial Accounting Standards Board FSP - FASB Staff Position IASB - International Accounting Standards Board IFRS - International Financial Reporting Standards APB - Accounting Principles Board ARB - Accounting Research Board SFAS - Statement of Financial Accounting Standards SOP - Statement of Position SAS - Statement of Auditing Standards SEC - Securities and Exchange Commission 5 FASB Codification Project The objective of the codification project is to integrate and topically organize all relevant accounting guidance issued by the U.S. standard setters (FASB, AICPA, EITF, and SEC). The codification project takes the existing GAAP pronouncements from all sources and organizes them into roughly 90 topics using a consistent structure. Once it is adopted, the Codification will be the sole source of non-SEC authoritative GAAP. The FASB launched a one-year verification phase in January 2008. Constituents are encouraged to use the online Codification Research System free of charge to research accounting issues and provide feedback on whether the Codification content accurately reflects existing U.S. GAAP. During the verification period, Codification content will be updated for changes resulting from constituent feedback and new standards. The Codification is open for comments through January 15, 2009 and is scheduled to become effective on July 1, 2009. IFRS – Moving Towards a Single International Accounting Standard Presently, approximately 100 nations, including those of the European Union, have adopted IFRS as their accounting standards of choice. Recent trends clearly suggest that IFRS is on track to become the high quality set of common global accounting standards that many have been calling for. The much anticipated release in August 2008 by the SEC affirms that IFRS clearly have the “inside track” to achieving that distinction. In their subsequent releases, the SEC provides a timeline for US public companies to adopt IFRS in a phased-in approach from 2010 through 2017. Large companies approved to be in the first wave of adopters can use the rules for filings they submit in 2010 for their 2009 fiscal years. It is generally held that the IFRS rules are more principles-based and generally less prescriptive than their present U.S. GAAP counterparts. For example, the number of revenue recognition standards that exist in U.S. GAAP far outnumber those in place under IFRS – there are many other examples as well. Some have asserted, with good authority, that IFRS has a tendency to report generally higher earnings than U.S. GAAP. One area that will be particularly interesting to watch for U.S. cooperatives is the distinction between liability and equity instruments under these rule sets. More instruments are likely to be classified as liabilities, as opposed to equity, under IFRS than under U.S. GAAP. After some successful discussion with the FASB to assist them in obtaining a better understanding of cooperative equity, the prospect of repeating these debates in an IFRS context might sound daunting to cooperative financial leaders. Needless to say, the standard setters’ deliberations over coming months and years will need to be carefully monitored by the cooperative community to head off any unintended accounting consequences from these inevitable changes we face. Financial executives of many of the country’s larger public companies as well as representatives of the Big Four accounting firms are expressing the view that the process of converging from U.S. GAAP to IFRS will be a complex and costly initiative. Some even contend that the cost of implementing this GAAP conversion will far outpace the stratospheric costs of implementing the Section 404 internal control assessment requirements of the Sarbanes-Oxley Act. What is clear 6 is that the process of converting and restating US GAAP financial statements will be a significant endeavor. Companies will need to thoroughly assess, document and compare their existing accounting practices to the corresponding IFRS requirements; decide what changes are necessary, and; measure and implement the new policies. Additionally, financial statement disclosures will need to be reconsidered as will the potential need to modify various pre-existing business agreements (e.g. debt covenants), strategic relationships (e.g. joint venture agreements) and operational policies (e.g. employee compensation plans). These steps do not even address the question of whether these entities have the appropriate knowledge and experience in-house to implement IFRS. Since 2002, the FASB has been working
Load more

Recommended publications
  • HISTORY and DEVELOPMENT of AGRICULTURAL COOPERATIVES in OHIO DISSERTATION Presented in Partial Fulfillment of the Requirements F
    HISTORY AND DEVELOPMENT OF AGRICULTURAL COOPERATIVES IN OHIO DISSERTATION Presented in Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy in the Graduate School of The Ohio State University By WILLIAM TAFT RICHIE, B. S., M. S. The Ohio State University 1958 Approved by: Adviser Department of Agricultural Economics and Rural Sociology ACKNOWLEDGMENTS I am grateful to all the people who have helped to make this manuscript possible. A special word of appre­ ciation goes to Dr. George P. Henning, of the Department of Agricultural Economics and Rural Sociology, for his guidance and supervision. I also wish to thank Dr. Ralph W. Sherman and Dr. Virgil R. Wertz for their suggestions and assistance. My wife, Sadie, has been a source of inestimable help and encouragement at all times. To her I am indebted for the typing of this manuscript. ii TABLE OF CONTENTS CHAPTER PAGE I. INTRODUCTION................................. 1 Purpose and Scope of Study.............. Previous Studies........ 6 Source of Data ..................... 8 II. ECONOMIC PRINCIPLES AND CONCEPTS OF COOPERATIVES................................ 10 III. STATE AND FEDERAL LEGISLATIONS.............. lk- IV. DEVELOPMENT OF FARMER COOPERATIVES IN OHIO.. 21 Ohio Farmers Late in Organizing Cooperatives............................. 22 Farm Organizations............ 26 Number, Membership and Volume of Business................................. 39 V. DAIRY COOPERATIVES............... 57 Early Developments.......... 57 Some Factors Affecting Development and Growth................................... 61 Background Information of Some of the Associations Operating in Ohio Milksheds. 67 Ohio Milk Producers Federation.......... 82 Statistics and Trends in Dairy Coopera­ tives.................................... 82 VI. FRUIT AND VEGETABLE COOPERATIVES............ 89 Development of Fruit Cooperatives in Ohio..................................... 90 Development of Vegetable Cooperatives.... 92 Statistics and Trends...................
    [Show full text]
  • Antitrust Status of Farmer Cooperatives
    USDA Antitrust Status of Farmer Cooperatives: United States Department of Agriculture The Story of the Capper- Rural Business- Volstead Act Cooperative Service Cooperative Information Report 59 Abstract The Capper-Volstead Act provides a limited exemption from antitrust liability for agricultural producers who market the products they produce on a cooperative basis. Without Capper-Volstead, farmers who agree among themselves on the pric es they'll accept for their products and other terms of trade would risk being held in violation of antitrust law. Even with the exemption, agricultural producers are not free to unduly enhance the prices they charge, consolidate with or collaborate in anticompetitive conduct with nonproducers, or engage in conduct with no legitimate business purpose that is intended to reduce competition. Keywords: cooperative, antitrust, Capper-Volstead Act, law ________________________________________ Antitrust Status of Farmer Cooperatives: The Story of the Capper-Volstead Act Donald A. Frederick Program Leader Law, Policy & Governance Rural Business-Cooperative Service U.S. Department of Agriculture Cooperative Information Report 59 September 2002 RBS publications and information are available on the Internet. The RBS w eb site is: http://www.rurdev.usda.gov/rbs Preface Antitrust law poses a special challenge to agricultural marketing associations. Certain conduct by independent business people-- agreeing on prices, terms of sale, and whom to sell to--violates the Sherman Act and other antitrust statutes. And these are the very types of collaborative activities that agricultural producers conduct through their marketing cooperatives. Since 1922, the Capper-Volstead Act has provided a limited antitrust exemption for agricultural marketing associations. Producers, through qualifying associations, can agree on prices and other terms of sale, select the extent of their joint marketing activity, agree on common marketing practices with other cooperatives, and achieve substantial market share and influence.
    [Show full text]
  • A Day in the Life of Cooperative America
    A DAY IN THE LIFE OF COOPERATIVE AMERICA A Project of the National Co-op Month Committee COOPERATIVE PRINCIPLES Cooperatives follow seven internationally recognized principles as adopted in 1995 by the International Cooperative Alliance. The National Cooperative Business Association lists these as: 1. Voluntary and Open Membership Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination. 2. Democratic Member Control Cooperatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary cooperatives, members have equal voting rights (one member, one vote) and cooperatives at other levels are organized in a democratic manner. 3. Member Economic Participation Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital is usually the common property of the cooperative. They usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing the cooperative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the cooperative; and supporting other activities approved by the membership. 4. Autonomy and Independence Cooperatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their cooperative autonomy.
    [Show full text]
  • Articles Cooperative Enterprise As an Antimonopoly Strategy
    ART 1 - COOPERATIVE ENTERPRISE (DO NOT DELETE) 10/22/2019 4:02 PM Articles Cooperative Enterprise as an Antimonopoly Strategy Sandeep Vaheesan* & Nathan Schneider† ABSTRACT After decades of neglect, antitrust is once again a topic of public debate. Proponents of reviving antitrust have called for abandoning the narrow consumer welfare objective and embracing a broader set of objectives. One essential element that has been overlooked thus far is the ownership structure of the firm itself. The dominant model of investor- owned business and associated philosophy of shareholder wealth maximization exacerbate the pernicious effects of market power. In contrast, cooperative ownership models can mitigate the effects of monopoly and oligopoly, as well as advance the interests of consumers, workers, small business owners, and citizens. The promotion of fair competition among large firms should be paired with support for democratic cooperation within firms. Antitrust law has had a complicated history and relationship with cooperative enterprise. Corporations threatened by cooperatives have used the antitrust laws to frustrate the growth of these alternative businesses. To *Legal Director, Open Markets Institute. †Assistant Professor, Department of Media Studies, University of Colorado Boulder. The authors thank Lauren Bridges, Michelle Meagher, Sanjukta Paul, and Ganesh Sitaraman for thoughtful feedback on earlier drafts of this Article. 1 ART 1 - COOPERATIVE ENTERPRISE (DO NOT DELETE) 10/22/2019 4:02 PM 2 PENN STATE LAW REVIEW [Vol. 124:1 insulate cooperatives from the antitrust threat, Congress has enacted exemptions to protect cooperative entities, notably a general immunity for farm cooperatives in the 1922 Capper-Volstead Act. As part of an agenda to tame corporate monopoly, all three branches of the federal government and the states should revisit these ideas and seek to protect and enable the cooperative model across the economy.
    [Show full text]
  • Principles and Practices in the 21St Century
    A1457 Cooperatives: Principles and practices in the 21st century Kimberly A. Zeuli and Robert Cropp ABOUT THE COVER IMAGE: The “twin pines” is a familiar symbol for cooperatives in the United States.The Cooperative League of the USA, which eventually became the National Cooperative Business Association (NCBA), adopted it as their logo in 1922.The pine tree is an ancient symbol of endurance and immor- tality.The two pines represent mutual cooperation—people helping people. C OOPERATIVES: q Publication notes ii C ont Chapter 1 1 An introduction to cooperatives Chapter 2 5 ents Historical development of cooperatives throughout the world Chapter 3 15 Cooperative history, trends, and laws in the United States Chapter 4 27 Cooperative classification Chapter 5 39 Alternative business models in the United States Chapter 6 49 Cooperative roles, responsibilities, and communication Chapter 7 59 Cooperative financial management Chapter 8 69 Procedures for organizing a cooperative Chapter 9 77 A summary of cooperative benefits and limitations Notes 81 Glossary 85 Cooperative resources 89 PRINCIPLES & PRACTICES IN THE 21ST CENTURY i Kimberly Zeuli and Robert Cropp, Assistant Publication notes Professor and Professor Emeritus in the This publication is the fourth and most extensive Department of Agricultural and Applied revision of the Marvin A. Schaars’ text, Cooperatives, Economics, University of Wisconsin—Madison, Principles and Practices, University of Wisconsin are responsible for all of the editing and most Extension—Madison, Publication A1457, July 1980. of the revised text. The following individuals What has come to be known simply as “the also contributed to various chapters: Schaars book,” was originally written in 1936 by David Erickson, Director of Member Relations, Chris L.
    [Show full text]
  • Diversity in Governance
    National Cooperative Business Association CLUSA International | Fall 2020 Building Diversity, Equity and Inclusion Amid Crisis Diversity in Governance Essential Workers A cooperative model for deeper, From Wi-Fi hotspots to waived more meaningful impact late fees, electric co-ops stepped Karen Miner and Sonja Novkovic up to support their communities — p 4 during COVID-19 Russell Tucker and Mike Sassman —p 26 Order Up ChiFresh Kitchen is Driving Change serving workplace equity, Immigrant entrepreneurs put the entrepreneurship and economic brakes on a predatory system stability Greg Irving, with Capital Impact Partners—p 32 research by Camille Kerr and collaborators—p 16 Your Choices Reflect Your Values. Your Bank Should, Too. www.ncb.coopII | THE COOPERATIVE BUSINESS JOURNAL THE COOPERATIVE BUSINESS JOURNAL NCBA CLUSA 1775 Eye Street NW, 8th Floor, Washington DC 20006 NCBA CLUSA - PUBLISHER CONTENTS Doug O’Brien President & CEO 2 Perspectives Valeria Roach Doug O’Brien Chief Financial Officer EDITOR IN CHIEF 4 Diversity in Governance John Torres A cooperative model for Vice President of Communication & Public Relations , NCBA CLUSA deeper, more meaningful impact. By Karen Miner and MANAGING EDITOR Sonja Novkovic Elizabeth Lechleitner Senior Manager, Communication & Public Relations, NCBA CLUSA SOCIAL MEDIA EDITOR Isabelle Shinsato Communication & Public Relations Associate, NCBA CLUSA 16 Order Up ChiFresh Kitchen is DESIGN serving workplace equity, Slice®Works entrepreneurship and slice-works.com economic stability. By Greg Irving, with research by EDITORIAL BOARD Camille Kerr and collaborators Tamela Blalock Your Choices Reflect Vice President of Cooperative Relations, NCBA CLUSA Leslie Mead 26 Essential Workers Executive Director, Cooperative Development Foundation From Wi-Fi hotspots to Rebecca Savoie waived late fees, electric Cooperative Development Consultant co-ops stepped up to support their communities Your Values.
    [Show full text]
  • Statistics on Cooperatives: Concepts, Classification, Work and Economic Contribution Measurement
    X Statistics on Cooperatives Concepts, classification, work and economic contribution measurement #3 Statistics on Cooperatives: Concepts, classification, work and economic contribution measurement International Labour Office • Geneva Copyright © International Labour Organization 2020 Publications of the International Labour Office enjoy copyright under Protocol 2 of the Universal Copyright Convention. Nevertheless, short excerpts from them may be reproduced without authorization, on condition that the source is indicated. For rights of reproduction or translation, application should be made to ILO Publications (Rights and Licensing), International Labour Office, CH-1211 Geneva 22, Switzerland, or by email: [email protected]. The International Labour Office welcomes such applications. Libraries, institutions and other users registered with a reproduction rights organization may make copies in accordance with the licences issued to them for this purpose. Visit www.ifrro.org to find the reproduction rights organization in your country. Statistics on Cooperatives: Concepts, classification, work and economic contribution measurement / International Labour Office (ILO); Committee for the Promotion and Advancement of Cooperatives (COPAC); International Centre of Research and Information on the Public, Social and Cooperative Economy (CIRIEC) – Geneva: ILO, 2020. ISBN: 9789220331361 (Web PDF) The designations employed in ILO publications, which are in conformity with United Nations practice, and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the International Labour Office concerning the legal status of any country, area or territory or of its authorities, or concerning the delimitation of its frontiers. The responsibility for opinions expressed in signed articles, studies and other contributions rests solely with their authors, and publication does not constitute an endorsement by the International Labour Office.
    [Show full text]
  • Approved Vendor List
    APPROVED VENDOR LIST No vendor number listed means the vendor did not assign a number. State Company Name Vendor # USA ABM (Valiant Integrated Services) 7500740 USA Acadia Healthcare USA AdventHealth (FKA Adventist Health) 000 0000 718 USA Aleut Management Services ALSCO Inc (American Linen, American USA Industrial) VUNIL01 USA Alutiiq Commercial Ent. USA Amcor Rigid Plastics Orders & Invoices through Ariba - Must have PO Must have NXS# Property ID - invoices through Nexus System - USA American House Senior Living Communities Vendor# in Nexus 428801 USA American Renal Associates (ARA) 22564 - Invoices: Acounts Payable, PO Box 12 Hooksett NH 03106 USA American Water USA Apartment Management Consultants 554586 USA Aramark Food Services 5104550024 USA Arcadis USA Arcelor Mittal 0397696 USA Archer Daniels Midland - ADM USA Ardent Health Services (VendorProof) USA Ariba Supplier Network Supplier # AN01000123005 USA Armour Eckrich Meats LLC 101424 USA Ascension Health 0000132844 - Must have PO - invoices to [email protected] USA Atlantic Dialysis Management Services USA Atria Retirement Must have PO - Email invoice to [email protected] Avis Budget Group (includes Zipcar, Payless Must have PO, US sales invoiced to [email protected] USA and Apex) Canada sales to: [email protected] Bell Partners Apartment Investment & USA Management 303398 USA Belmont Village Senior Living 2715 USA Bickford Senior Living UNITLAB USA Bon Secours Mercy Health USA BowlMor AMF 1615250 Boyd Gaming (Sam's Town Hotel and Casino USA and others) 1012794 USA Bozzuto (Apartment Management) 1194555 0000107723 - 5 Digit Location Code & COUPA PO, Bill to PO Box 81180 Cleveland OH 44181-0180 & RTN INV to AR for upload in USA Brookdale Senior Living COUPA system USA Brookfield Properties Must have PO - Invoices OPS Tech USA Burlington Northern Santa Fe (BNSF) 0002042246 Registered for MidWest only - if you are working with a buyer in another USA C&W Services (Cushman & Wakefield) region, we will need to register that region.
    [Show full text]
  • The Policy and Politics of Cooperatives a Geographic, Sectoral, and Political Analysis of Co-Ops Promoting Economic Development in the United States
    THE POLICY AND POLITICS OF COOPERATIVES A GEOGRAPHIC, SECTORAL, AND POLITICAL ANALYSIS OF CO-OPS PROMOTING ECONOMIC DEVELOPMENT IN THE UNITED STATES by Kate LaTour A thesis submitted to Johns Hopkins University in conformity with the requirements for the degree of Master of Arts in Government Baltimore, Maryland May 2021 © 2021 Kate LaTour All Rights Reserved i Abstract Cooperatives engage and compete in the market just like any other form of business, yet co-ops are distinct in their one member, one vote structure of ownership and governance. People form cooperatives for three primary reasons: to fix a market failure, create greater consumer choice, or to gain greater parity against bigger players in the market. Co-ops also provide benefits that conventional businesses do not experience, including greater access for underserved populations, greater resilience to economic shock, and longer business lifespans in the same community. Moreover, as democratic institutions, cooperatives can contribute to strengthening the social fabric of a community. Like other forms of business, a strong enabling environment from all levels of government is not only helpful, but necessary. Typical tools for business development— especially technical assistance and access to capital—are needed for cooperative development, too. A major barrier that some cooperatives face, which other types of businesses do not, is a lack of incorporation statute at the state level. This is especially prevalent in the Southeast United States. There is a similar consequence when major federal statutes, like the Small Business Act, do not comprehensively include cooperatives. Lastly, like technology companies boom in Silicon Valley, cooperatives similarly thrive when there are clusters or associations of cooperatives operating in the same community, region, or sector.
    [Show full text]
  • 2018 Shared Success Grants
    2018 Shared Success Grants Vancity Credit Union Organization Amount Name of project Project Synopsis Approved Abbotsford Community $2,500.00 Fraser Valley The event recognizes best practices amongst Fraser Valley businesses Services Cultural Diversity and service providers in responding to, and being inclusive of, the Awards diversity in the region. Aboriginal Mother Centre $10,000.00 Resident and Elders Financial contribution to assist with the costs of providing a healthy Society food program nutritious food program for residents, elders, and participants in daily programming at the Centre. Aboriginal Nations Education $3,000.00 ANED All Nations Support for the District 61 Aboriginal Nations Education Division (Greater Victoria School Graduation Dinner district dinner and graduation. District No. 61) and Ceremony Accelerating Sustainability $31,500.00 Globe Forum 2018 Vancity is a silver sponsor of GLOBE Forum which brings together Events Management Inc. business and all levels of government from North America and beyond to accelerate the shift to a sustainable, clean economy. ACCESS Aboriginal $2,000.00 Access Film The Aboriginal Community Career Employment Services Society Community Career Program (“ACCESS”) has a cohort of students enrolled in their newly developed Employment Services Society intensive film and television boot camp. Adrienne Smith Law $500.00 Transinclusive In consultation and partnership with the Human Resources Workplaces Lunch department we will hosting a lunch and learn from Adrienne on how and Learn to support trans-inclusive workplaces. Adrienne gives these workshops often for trade unions and municipalities. Alert Bay 360 Eco Paddle $500.00 Alert Bay 360 Annual eco tourism-based event on Cormorant Island.
    [Show full text]
  • The Abcs of Co-Op Impact
    COMMUNITY ECONOMIC D EVELOPMENT HUB The ABCs of Co-op Impact Brett Theodos, Corianne Payton Scally, and Leiha Edmonds December 2018 Today’s economic climate is marked by growing insecurity in the face of structural changes to work, benefits, and business ownership. Small business start-ups are at their all-time lows, and entrepreneurship is lower among millennials than previous generations at those same ages (Wilmoth 2016).1 The income gap between the top and bottom of wage earners grew 27 percent from 1970 to 2016. And wealth inequality is growing as well. In the 50 years between 1963 and 2013, the top 10 percent saw their wealth quadruple while the bottom 10 percent went from having essentially no wealth to being $2,000 in debt.2 Wages have risen 3 percent (in real terms) among workers in the lowest tenth of earnings while the top tenth has risen 15.7 percent.3 And the longest economic expansion on record has not yet resulted in higher living standards for American workers, with increases in earnings paralleling increasing costs. Contract, temporary, and shift work has grown exponentially, and though some of these positions are lucrative, many have low pay and low stability. Indeed, many are beginning to question what the “future of work” is for large segments of US adults.4 In the face of these challenges, local, state, and national policy and practice leaders are searching for more satisfying and sustainable models of work and business. One established model that is attracting renewed attention is cooperatively owned businesses. Cooperatives exist in a diverse set of sectors, offering alternatives to traditional shareholder- or proprietor-owned business structures.
    [Show full text]
  • Policy Strategies to Build a More Inclusive Economy with Cooperatives
    POWER IN PURPOSE POLICY STRATEGIES TO BUILD A MORE INCLUSIVE ECONOMY WITH COOPERATIVES BRETT THEODOS, LEIHA EDMONDS, AND CORIANNE PAYTON SCALLY A REPORT FROM THE URBAN INSTITUTE OCTOBER 2020 ABOUT THE AUTHORS Brett Theodos is senior fellow in the Leiha Edmonds is a research analyst in the Metropolitan Housing and Communities Metropolitan Housing and Communities Policy Center at the Urban Institute, where Policy Center. he directs the Community Economic Development Hub. Corianne Payton Scally is a senior research associate in the Metropolitan Housing and Communities Policy Center. ACKNOWLEDGMENTS This report was funded by Cooperative Office of Economic Development and Development Foundation in partnership International Trade; Jason Linde, National with the National Cooperative Business Rural Electric Cooperative Association; Association CLUSA International, with Margaret Lund, independent consultant; original funding from the Robert Wood Mo Manklang, US Federation of Worker Johnson Foundation. We are grateful to Cooperatives; Tim Palmer, Democracy them and to all our funders, who make it at Work Institute; Linda Phillips, Jason possible for Urban to advance its mission. Wiener|p.c.; Mary Ann Ralls, National Rural Electric Cooperative Association; The views expressed are those of the Stuart Reid, Food Co-op Initiative; Nathan authors and should not be attributed Schneider, University of Colorado Boulder; to the Urban Institute, its trustees, or Stacey Sutton, University of Illinois at its funders. Funders do not determine Chicago; Todd Van Hoose, Farm Credit research findings or the insights and Council; and Russell Wasson, National recommendations of Urban experts. Rural Electric Cooperative Association. Further information on the Urban Institute’s funding principles is available at We are also grateful to the people who urban.org/fundingprinciples.
    [Show full text]