your voice counts hereDirector Candidate Profile – Race 2
4-Year Term

Steve Powers

Steve Powers
Chanute, KS

Birth Year: 1955

Business Experience: Cattle operation; farming operation raising corn, soybeans, hay and wheat with a natural gas interest

Association Business Relationships with Family Members: Pattie Powers, my wife

Education: Neosho County Community College Associate degree, attended Pittsburg State University (PSU) and Farm Credit System Premier Governance Series (PGS) Certified Director

Current Boards: Association Board; Eastern Kansas Royalty Owners Association Board; Thayer Christian Church Board; Hidden Haven Church Camp Board and Thayer Cemetery Board

Candidate Description of Business Knowledge and/or Education:

Strategic Planning/Direction: I always look forward to the Association’s strategic planning meetings, and the outcome that we then implement. I have been in agriculture my entire life, but every year we set a goal and a vision for that year and the years to come. Every organization needs to do a SWOT (strengths, weaknesses, opportunities and threats) exercise periodically to evaluate its future and develop a plan.

Corporate Governance: We started an organization in eastern Kansas to monitor oil and gas royalty owners’ interest. We formed a board of directors and formulated all bylaws. A big asset to these owners. I have also worked on the Association’s alliance with Farm Credit Services of America from an idea to a realization and implementing governance. My experience as a vice chair and committee chair for the Association Board taught me valuable lessons in how a company needs to be governed.

Financial Reporting: We supply all our income and expense numbers to an accounting service for computation and tax preparation. I then analyze and compare the reports to benchmarks in our area which helps us look for opportunities. Working with budgets and financial reports from other boards as well as the Association has taught me to be very detail oriented and identify areas that can save on expenses.

Business Technology: New technology and data collection have made agriculture easier and more efficient. I keep up on new technology and am always willing to try something new, and then decide if it will save time or save money. I have attended several seminars on technology and cybersecurity. Utilization and awareness are critical to the Association’s future success.

Risk Management: As a past Association business risk committee chair, I know in great detail the analysis we do on risk management. We spread risk through agriculture loan portfolios. On my farm, risk is managed by hedges, crop insurance, hybrids and diversification, etc. Now that agriculture is in a more stressed environment, we need to do everything possible to help. I believe it is a director’s responsibility to ensure the appropriate due diligence is completed to identify risk and manage it.

Talent Management: Currently, I serve as the chair of Association’s human capital committee, and I fully understand the talent and positive culture that we have from the chief executive officer to every other employee. Since human resources is a high percentage of our Association’s budget, we must help employees develop their skills and provide incentives that help our Association. On our farm we manage seasonal help and reward a job well done, plus utilize off-farm vocational expertise.

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