Spotlight: Kevin Egolf, CFO: Iroquois Valley Farms LLC

Tell us about Iroquois Valley Farms and what the company does:

Iroquois Valley Farms is an organic farmland REIT (real estate investment trust) that was built to support the business of organic and regenerative farmers. We do that by offering long-term, secure land access through both leasing and mortgage options. We currently work with about 35 farm families in 14 states and have financed the purchase of over 50 farms. Our farmers grow grains, legumes, specialty crops, and raise dairy and livestock on pasture. We are a Benefit Corporation whose stated goal is enabling healthy food production, soil restoration and water quality improvement through the establishment of secure and sustainable farmland access tenures.

How has your mission and vision changed since beginning business?

When we started in 2007, we initially thought that investing in organic farms would simply be good business. The financial markets were in turmoil and the founders wanted something better. Farms are real assets that are safer than the ups and downs of the stock market. While the initial intentions were focused on organic, it was not until a few years after the first purchase that we realized there was an opportunity to scale the business and in doing so improve the agricultural system. Under this expansion the mission was fully articulated and the vision for a healthier food system formulated. Buying land for organic farmers allows them to expand their business and allows investors to make a direct impact in the food system. It is a win-win for both the farmer and the social investor.

Furthermore, the way we support farmers has expanded significantly. The core of our work is still offering secure land access, but, in 2016, we began offering a mortgage financing option in addition to our original long-term lease option. Mortgage financing helps us reach organic farmers with different needs. The opportunity to support organic farmers is immense and we want to help them as they change the food and agricultural systems for the better.

What is one aspect that Iroquois Valley Farms offers that you wish more people knew about?

We are a triple bottom line company, meaning that we balance social, environmental, and financial returns. Organic farming is a deeply impactful field and many people do not recognize the important social and community aspect of farming. Organic farming is much more than supporting an environmentally friendly agricultural system.

The Organic Trade Association came out with a study about “organic hotspots”, which shows that more organic farms in a rural region contributes to higher wealth in that local economy. By supporting independent farm businesses in over 30 counties, we are supporting those individual rural ecosystems.

We also like to specify that when we say we offer long-term, secure land access, we actually mean land access for life. Although our leases have terms and our farmers are welcome to buy the properties, we have structured our leases to be indefinitely renewable.

How did you end up working at Iroquois Valley Farms and supporting organic farmers?

After college graduation, I immediately went into investing banking, a very traditional finance position. My mindset was ‘investing banking was one of the hardest business jobs to get so that is the field I should pursue.’ That first job led to a six-year stint in traditional finance and one life-altering late-night revelation.  Given that half of one’s waking life is focused on one’s career, one’s career becomes a defining characteristic of said individual. With that perspective in mind, I decided I wanted my career to be a full expression of my personal beliefs and values, not solely a job that I found challenging and interesting. Fortunately, I was able to connect with Iroquois Valley Farms. Iroquois Valley Farms was the perfect blend of my personal interests in sustainable living and healthy food production alongside areas of intellectual curiosity with business and finance.

What future goals does Iroquois Valley Farms have?

Ultimately, our goal is to continue doing what we do best: providing land access to organic and regenerative farmers. We are working to geographically expand and work with more farmers in the West. To do this, we need more capital. We are working towards a Direct Public Offering that would enable smaller, non-accredited investors to support our work.

It’s also important to acknowledge that we are a private company solution to a much bigger issue. We have ambitious goals, but the work to support organic farmers needs grow. We are hopeful that the next Farm Bill might offer more funding for organic agriculture.

 How can we learn more?

The people who work at Iroquois Valley Farms are extremely passionate about this work – please feel free to reach out to us because we love to talk about what we do and why we do it.

You can find out more at our website, join our mailing list, or follow us on social media.

Website: https://iroquoisvalleyfarms.com/

Mailing List sign up: https://visitor.r20.constantcontact.com/manage/optin?v=0013jRMC6JeuR_Lm1WQU-8v3q4vMMpVa6GX

Twitter: @iroquois_valley

Facebook: https://www.facebook.com/iroquoisvalleyfarms