Morgan Ag Consulting Svcs
RUSSELL D. MORGAN CAC
[email protected] 270-559-2737
9328 Shady Park Rd, Portland TN 37148 & 180 Kimberly Drive, Paducah KY 42001
I am a Certified Agricultural Consultant (CAC) – certified by The American Society of Agricultural Consultants (ASAC). During my 34+ years’ experience in agricultural consulting I have performed a variety of consulting tasks and financial / economic analyses. These matters have included (but are not limited to) financial / economic projections for new projects and enterprises; financial / economic analysis of existing & prospective farm businesses; economic loss analyses (e.g. weather-related events) and general farm management consulting.
October, 2003 to Present: Provided agriculture – specific business consulting services to farm and agriculture – related firms. Services include business analysis, feasibility analysis, whole-farm budgeting, farm business plan development and implementation as well as other business consulting services. Services planned for 2020 and forward include surrogate CFO (SCFO) services to farm businesses, implementation / facilitation of farmer peer-groups (FPAG) and implementation / facilitation of Boards of Trusted Advisors (BOTA) to a limited number of farms.
October 2003 to Present: Provided bookkeeping, payroll processing and income tax preparation services to individuals, farm businesses and small businesses. Services included income and estate tax consulting, business organization strategies and related accounting, payroll and tax matters.
January, 1995 to September 2003: Area Extension Specialist in Farm Business Management, University of Kentucky. I worked for the University of Kentucky Farm Business Management (KFBM) Program, serving the Purchase Area Farm Analysis Group (PAFAG). My primary responsibilities include providing member farmers with comprehensive business records. Using comparative analyses based upon these records, I consulted with member farmers on topics ranging from risk management to financial restructuring to income tax management. I achieved the designation of Certified Agricultural Consultant (CAC) from the American Society of Agricultural Consultants (ASAC). I passed the battery of tests administered by the Internal Revenue Service earning the designation of Enrolled Agent (EA).
July 1990 to December 1994: Self-employed as farm management consultant. Primary services performed were computerized farm business records and analysis, farm financial consulting, and income tax consulting/preparation. The majority of my clients were farm business owners, including farm partnerships and corporations. Most of my time was spent on farm business records and analysis. I was also able to utilize these farm business records to assist in preparing business projections for my clients. I consulted with farm business owners under financial duress. I, often in conjunction with an attorney, negotiated debt restructuring, debt write-down, and other debt modifications for clients. I have consulted with farmers filing for protection under Chapter 12 of the U.S. Bankruptcy Law. Often, I consulted with my farm records clients when they were considering major changes in their farm business operations (e.g. expanding their business, purchasing new equipment, or undertaking a new enterprise). Subjects that arose during consulting sessions included marketing, personnel management, production management, economic efficiency and financial management.
September, 1985 to July, 1990: Employed as an Area Extension Specialist in Farm Business Management by the University of Kentucky. I worked for the University of Kentucky Farm Business Management Program, serving the Purchase Area Farm Analysis Group. My primary responsibility was to provide cooperating farmers with comprehensive business records and comparative analyses based upon these records. Some farm management/financial consulting was also provided to farmers participating in the U.K. program. Other responsibilities included presenting income tax, farm records/management, and computer workshops/seminars. Audiences of these workshops/seminars included farmers and extension personnel.
1985 to Present: Enrolled in many professional improvement seminars, workshops, and classes. Topics included professional farm management, rural real estate appraisal, income tax preparation, marketing agricultural products, and financial management. I have attended annual tax workshops sponsored by the University of Kentucky as well as special partnership workshops. I have attended workshops sponsored by the National Association of Tax Practitioners (NATP) and courses offered by the American Society of Farm Managers and Rural Appraisers. Annually, I attend the ASAC conference which includes at least 16 hours of continuing education credits to maintain my CAC status. In addition, I have attended numerous marketing workshops, "top farmer" workshops, annual outlook conferences, and other meetings/seminars pertinent to my profession.
1987: Graduated from the University of Tennessee, Knoxville with a Master of Science in Agricultural Economics (GPA of 3.9 on 4.0 scale). My thesis was entitled: "Economic Analysis of Waste Management Systems on Tennessee Dairy Farms". My emphasis was farm management.
1982: Graduated from the University of Tennessee, Knoxville with a Bachelor of Science in Agricultural Economics (GPA of 3.67 on 4.0 scale). My emphasis was dairy farm management.
American Society of Agricultural Consultants (Certified Agricultural Consultant) (Currently serving as CFO).
National Association of Tax Practitioners (NATP)
PUBLICATIONS AND NEWSLETTERS
Extension Reports -“The Kentucky Farm Analysis Program - 1997 Annual Summary” Newsletters - Prepared timely newsletters for the membership of PAFAG; instituted a new “Directors Newsletter” designed to keep the local board of directors informed of important developments.
Presentations / Instruction – Numerous presentations on a variety of topics including farm accounting, farm financial analysis, income tax rules for farmers and strategic planning for consulting businesses. During my graduate work at the University of Tennessee I taught a senior-level farm management course for the majority of a quarter while my major professor recovered from surgery. I am currently the instructor for ASAC’s 410 class, “Consulting Firm Management: Startup, Growth and Maintenance.”
Computer Programs - Various spreadsheets to facilitate my consulting, payroll and tax services as well as in response to farmer requests. Prepared various multi-media “slide shows” for use in presentations.
Master’s Thesis - “Economic Analysis of Waste Management Systems on Tennessee Dairy Farms”, A thesis presented for the Master of Science Degree, The University of Tennessee, Knoxville, March 1987.Experiment Station Bulletins - “Economic Comparisons of Alternative Waste Management Systems on Tennessee Dairy Farms”, Bulletin 656, University of Tennessee Agricultural Experiment Station, Knoxville, Tennessee, October 1987.