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Pinion Insights

How to Safeguard Your Institution Through Internal Controls

By Heather Campbell | October 17, 2023
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Reading Time: 2 minutes
The primary purpose of internal controls is to safeguard an organization and further its objectives. Internal controls function to minimize risks and protect assets, ensure accuracy of records, promote operational efficiency, and encourage adherence to policies, rules, regulations, and laws. All institutions large or small, private, or public, should have some …

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CECL Adoption: What Financial Institutions Should Know

By Kati Barnhill | October 16, 2023
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Reading Time: 2 minutes
Now that banks are completing their third call report for the 2023 calendar year, we want to share some valuable insights and lessons learned as adoption of ASU 2016-13 (Current & Expected Credit Losses/CECL), is well underway. We have had the privilege of addressing numerous questions from clients now that …

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grain elevator, farm co-op

5 Things Every Co-op Should Do Before Year End

By Pinion Editorial | October 16, 2023
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Reading Time: 3 minutes
As the calendar year draws to a close, many farm co-ops are also approaching their fiscal year-ends. As a co-op CEO, now is a good time to ensure you’ve taken all the necessary steps and checked all the boxes to prepare for the next year. “We anticipate that 2024 will …

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FinCEN Reporting Deadline Alert: What Every Business Needs to Know

By Pinion Editorial | October 3, 2023
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Reading Time: 2 minutes
Beginning January 1, 2024, the Corporate Transparency Act requires all U.S.-based entities to report to the Financial Crimes Enforcement Network (FinCEN) detailed information about the entity and its key stakeholders – called “beneficial owners.” Any business with any legal entity (including single-member LLCs with minimal activity) will be impacted.  Small …

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Back to Basics: Biofuels Offer Cleaner Air, Stable Markets

3 Tips to Maximize IRA Biofuel Incentives

By Pinion Editorial | September 28, 2023
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Reading Time: 2 minutes
With $369 billion allocated for climate and energy policies, the Inflation Reduction Act of 2022 marks a historic commitment to the U.S. biofuels sector. It includes new tax credits, funding for biofuel infrastructure and expanded tax credits for carbon capture and storage. “The Inflation Reduction Act is a huge legislative …

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The Flip Side of Estate Planning: Why Many Don’t Bother

By Pinion Editorial | September 26, 2023
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Reading Time: 3 minutes
While the majority of Americans see the importance of retirement planning, most neglect estate planning. 6 in 10 Americans have a retirement account, only 1 in 3 have an estate plan. The most common reason for avoiding a will, trust or estate plan? Procrastination. 40% say they plan to wait …

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ag peer groups

4 Ways Ag Peer Groups Help Producers

By Pinion Editorial | September 15, 2023
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Reading Time: 2 minutes
Running a successful farm in a small town can be isolating, and constantly improving and expanding your business is challenging. That’s where peer group can help. “Peer groups provide the opportunity to learn from and with producers in similar situations,” says Davon Cook, Pinion peer group advisor. “Even after 10+ …

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3 Ways to Protect Longevity of Land in Renewable Deals

By Pinion Editorial | September 10, 2023
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Reading Time: 4 minutes
Across the country, landowners are seeing new cash crops emerge in the form of wind, solar and other farm easements. Renewable energy opportunities can add additional revenue streams and diversify income for farmers, ranchers, and landowners. However, many are concerned about how these projects will impact their land and drainage …

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