Cooperative Marketing

A written authorization empowering a person to vote or act for one another.
Proxy
The willingness and ability to buy a range of quantities of a good or service at a range of prices, during a given period of time.
Demand
The commerce done with, or on behalf of the members of a cooperative
Patronage
Amount by which assets exceed liabilities
Net Worth
Results of business operations after allexpenses have been met or deducted.
Net Income or Loss
A producer cooperative that may deduct from income amounts paid as dividends on capital stock, and earnings originating from non-patronage sources that are allocated to members on the basis of patronage, under section 521 of the Internal Revenue Code.
Exempt Cooperative
A pre-harvest or harvest-time payment for a crop, or an early payment before a crop is totally sold.
Advanced Payment
A person or firm authorized to act on behalf of another
Agent
A system of dividing income amoung members of a cooperative in proportion to their individual volumes of business, or “patronage” with the cooperative.
Allocation
Legal document establising a corporation and its structure and purpose, in accordance with state law.
Articles of Incorporation
Anything having commercial or exchange value that is owned by a business, institution or individual.
Assets
A term commonly used to describe a cooperative.
Association
An examination and verification of accounts and records of a business performed in acordance with specified standards.
Audit
One who is paid a commission or fee to bring together buyers and sellers to complete a market transaction.
Broker
A financial plan including estimates of revenues, expenses, investment, borrowing, and other financial activities for a sepcific period or time, such as a year.
Budget
A legal document establising rules and practices that govern the donduct and management of an organization.
Bylaws
Refers to the sources of funds used to finance the assets used by a company in it’s activities. This type of capital can be provided by equity, debt, or both.
Capital
Security pleged for the payment of a loan. May include stocks, bonds, land, equipment, buildings, or a farmers crop.
Collateral