Farm Credit Illinois Increases farmdoc Endowment
December 21, 2017
Farm Credit Illinois (FCI) contributed an additional $400,000 into a farmdoc endowment at the University of Illinois Foundation, originally established in December 2010.
Farmdoc and farmdocdaily provide farm families with online tools, information, and resources to help farmers make business decisions on their farm. The two websites collectively host more than 3 million visits annually.
Since FCI established the farmdoc endowment with a $350,000 gift in 2010, the endowment has provided more than $100,000 of program support while its market value has gradually grown to $400,000. The latest $400,000 gift to the farmdoc endowment brings the market value to more than $800,000, which will now provide more than $30,000 of annual program support.
“Many of the 11,000 farm families comprising FCI’s membership visit and subscribe to farmdoc,” says Tom Tracy, FCI President & CEO. “As a farmer-owned financial cooperative, we are proud to invest in a cutting-edge initiative which provides tools and resources better equipping our members to make decisions, in turn Helping Farm Families Succeed today and tomorrow.”
“During the tightening of today’s Illinois farm economy, farmdoc is a crucial resource for farmers managing businesses with narrow financial margins,” says Mark Miller, FCI Board Chair.
About Farm Credit Illinois
Farm Credit Illinois is a farmer-owned and directed agricultural lending cooperative serving 8,500 farm families, agribusinesses, and rural landowners in the southern 60 counties of Illinois with competitive and flexible financing and crop insurance expertise. The Association manages a $4 billion loan portfolio, provides 1.4 million acres of crop insurance coverage, and employs 210 staff based in the Mahomet central office and 14 regional office locations. The U.S. Farm Credit System supports rural communities, farm families, and agriculture with reliable, consistent credit and financial services today and tomorrow.