Golden Growers Cooperative (GGROU) 10-K/A 5 Mar 21 2020 FY Annual report (amended) Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 04, 2020
Cover [Abstract]
Document Type	10-K/A
Amendment Flag	true
Amendment Description	Adding XBRL to filing
Document Period End Date	Dec. 31, 2020
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity File Number	000-53957
Entity Registrant Name	Golden Growers Cooperative
Entity Central Index Key	0001489874
Entity Incorporation, State or Country Code	MN
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float	$ 0
Entity Common Stock, Shares Outstanding		15,490,480

BALANCE SHEETS

BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and Cash Equivalents	$ 3,547	$ 3,228
Short-Term Investments	3,438	1,807
Other Current Assets	258	275
Total Current Assets	7,243	5,310
Long-Term Investments	1,743	3,220
Investment in ProGold Limited Liability Company	16,976	18,059
Total Assets	25,962	26,589
Current Liabilities
Accounts Payable	2	2
Accrued Liabilities	202	208
Total Current Liabilities	204	210
Members' Equity:
Members’ Equity Membership Units, Authorized 60,000,000 Units, Issued and Outstanding 15,490,480 as of December 31, 2020 and December 31, 2019	25,758	26,379
Total Members’ Equity	25,758	26,379
Total Liabilities and Members’ Equity	$ 25,962	$ 26,589

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Membership Units, Authorized	60,000,000	60,000,000
Membership Units, Issued	15,490,480	15,490,480
Membership Units, Outstanding	15,490,480	15,490,480

STATEMENTS OF OPERATIONS AND CO

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATIONS
Corn Revenue	$ 50,563	$ 54,296	$ 50,102
Corn Expense	(50,606)	(54,336)	(50,152)
Net Income from ProGold Limited Liability Company	5,936	7,659	6,924
General & Administrative Expenses	(500)	(565)	(535)
Net Income from Operations	5,393	7,054	6,339
Other Income	182	181	82
Net Income Before Income Tax	5,575	7,235	6,421
Net Income	$ 5,575	$ 7,235	$ 6,421
Weighted Average Shares/Units Outstanding	15,490,480	15,490,480	15,490,480
Earnings per Share/Membership Unit
Primary and Fully Diluted	$ 0.36	$ 0.47	$ 0.41

STATEMENTS OF COMPREHENSIVE INC

STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
COMPREHENSIVE INCOME
Net Income	$ 5,575	$ 7,235	$ 6,421
Comprehensive Income	$ 5,575	$ 7,235	$ 6,421

STATEMENTS OF CHANGES IN MEMBER

STATEMENTS OF CHANGES IN MEMBERS’ EQUITY - USD ($) $ in Thousands	Members' Equity	Total
BALANCE at Dec. 31, 2017	$ 26,246	$ 26,246
Net income	6,421	6,421
Member distributions	(6,831)	(6,831)
Pension liability adjustment
BALANCE at Dec. 31, 2018		25,836
Net income	7,235	7,235
Member distributions	(6,692)	(6,692)
Pension liability adjustment
BALANCE at Dec. 31, 2019	26,379	26,379
Net income	5,575	5,575
Member distributions	(6,196)
Pension liability adjustment
BALANCE at Dec. 31, 2020	$ 25,758	$ 25,758

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net Income	$ 5,575	$ 7,235	$ 6,421
Net (Income) from ProGold Limited Liability Company	(5,936)	(7,659)	(6,924)
Changes in assets and liabilities
Other Current Assets	17	(31)	(26)
Accrued liabilities and payables	(6)	(3)	(13)
Net Cash Used in Operating Activities	(350)	(458)	(542)
Cash Flows from Investing Activities
(Purchase) Sale of investments	(154)	(106)	(4,701)
Distribution received from ProGold LLC	7,019	8,081	8,216
Net Cash Provided in Investing Activities	6,865	7,975	3,515
Cash Flows from Financing Activities
Member distributions paid	(6,196)	(6,692)	(6,831)
Net Cash Used by Financing Activities	(6,196)	(6,692)	(6,831)
Increase (Decrease) in Cash and Cash Equivalents	319	825	(3,858)
Cash and Cash Equivalents, Beginning of Year	3,228	2,403	6,261
Cash and Cash Equivalents, End of Year	$ 3,547	$ 3,228	$ 2,403

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
NATURE OF OPERATIONS	NOTE 1 — NATURE OF OPERATIONS Organization On July 29, 2009 GG-ND formed a wholly owned cooperative subsidiary in the state of Minnesota (GG-MN), organized under Minnesota Statutes chapter 308A, solely for the purpose of reincorporating into the state of Minnesota. On September 1, 2009, GG-ND merged into GG-MN and reincorporated into the state of Minnesota. Immediately after the merger, GG-MN statutorily converted into a cooperative association governed under Minnesota Statutes 308B. As a result of its reincorporation and reorganization Golden Growers — North Dakota, a North Dakota cooperative association historically taxed as a tax-exempt cooperative under Subchapter T of the Internal Revenue Code, became Golden Growers Cooperative, a Minnesota cooperative association governed by Minnesota Statutes chapter 308B as a cooperative for state law purposes but taxed as a partnership under Subchapter K of the Internal Review Code for tax purposes. Golden Growers Cooperative succeeded to the business of Golden Growers — North Dakota and except for changes to the structure and operations as a result of the reincorporation and statutory conversion, continues to operate the business of Golden Growers — North Dakota. As part of the Conversion, GG-ND’s members exchanged their shares of Class A Common Voting Membership Stock and Class B Non-Voting Equity Stock for identical and equal shares of such stock in GG-MN. Each member’s single share of Class A Common Voting Membership Stock was redeemed for $150 and each member received membership units in GG-MN equal to the number of shares of Class B Non-Voting Equity Stock each member held in GG-ND prior to the Merger. Prior to September 1, 2009, ownership of membership stock, which signified membership in the Cooperative, was restricted to producers of agricultural products. The ownership of equity stock was restricted to members of the Cooperative. Preferred stock could be held by persons who were not members of the Cooperative. At August 31, 2009 and 2008, the Cooperative had 10,000 shares of non-voting, $1,000 par-value preferred stock authorized, of which none were issued or outstanding. Equity requirements, as determined by the board of directors, could be retained from amounts due to patrons and credited to members’ equity in the form of unit retains or allocated patronage. The Cooperative reserved the right to acquire any of its stock offered for sale and the right to recall the stock of any member. In the event this right was exercised, the consideration paid for such stock was 25% of its book value. Beginning September 1, 2009, ownership of membership units is available to any person or entity residing in the United States of America. Net proceeds or losses will be allocated to members on the basis of their patronage of the Cooperative. In connection with the Conversion, the Cooperative changed its fiscal year end to December 31.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Significant Accounting Policies: Investments Cash and Cash Equivalents Income Taxes Property and Equipment Accounting Estimates Leases – Revenue Recognition The Cooperative’s members are contractually obligated to annually deliver corn to the Cooperative by either Method A or Method B or a combination of both. Under Method A, a member is required to physically deliver corn to the cooperative and under Method B a member appoints the cooperative as its agent to arrange for the acquisition and delivery of corn on the member’s behalf. The Cooperative contractually appoints Cargill as its agent to arrange for the delivery of the corn by its members who elect to deliver corn using Method A and to acquire corn on its behalf for its members who elect to deliver corn using Method B. In exchange for these services, commencing on January 1, 2018 the Cooperative paid Cargill an annual fee of $60,000, paid in quarterly installments. The price per bushel paid to the member who elects to deliver corn using Method B is equal to the price per bushel paid by Cargill to acquire the corn as the Cooperative’s agent. Members who deliver corn under Method A are paid the market price or contracted price for their corn at the time of delivery. The Cooperative pays members who deliver corn under Method A an incentive payment of $.05 per bushel while members who elect Method B to deliver corn pay the Cooperative a $.02 per bushel agency fee for the cost of having the Cooperative deliver corn on their behalf. The board has the discretion to change the incentive fee and the agency fee based on the Cooperative’s corn delivery needs. The incentive fee and agency fee are a component of Corn Expense. With respect to all Method A corn that is delivered, Cargill reports the purchase price as the product of Method A bushels delivered during a month and the average purchase price for the month. If at the conclusion of the year, a Method A member fails to fully satisfy the corn delivery requirement, Cargill will purchase replacement corn. The member with a Method A shortfall will be responsible for a purchased corn fee payable to Cargill and an agency fee determined by the Board of Directors for all bushels needed to complete their annual Method A delivery. The Cooperative shall notify Cargill of the number of Method B bushels to be purchased during the quarter. Cargill will certify to the Cooperative that it has purchased the necessary Method B bushels. Method B corn revenue will be determined to be equal to the price paid. The Cooperative has determined Corn Expense for Method B deliveries based on the average quarterly cost per bushel paid by Cargill to the Cooperative’s members for Method A quarterly deliveries. Concentrations - Fair Value Measurements ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820-10 also establishes a fair value hierarchy, which prioritizes the valuation inputs into three broad levels. Level 1 inputs consist of quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the related asset or liability. Level 3 inputs are unobservable inputs related to the asset or liability.

PROGOLD LIMITED LIABILITY COMPA

PROGOLD LIMITED LIABILITY COMPANY	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
PROGOLD LIMITED LIABILITY COMPANY	NOTE 3 — PROGOLD LIMITED LIABILITY COMPANY The Cooperative has a 49% ownership interest in ProGold Limited Liability Company. Following is summary financial information for ProGold Limited Liability Company: December 31, (In Thousands) 2020 2019 2018 Current Assets $ 216 $ 230 $ 245 Long-Term Assets 39,700 38,962 38,643 Total Assets $ 39,916 $ 39,192 $ 38,888 Current Liabilities $ 3,106 $ 5 $ 5 Long-Term Liabilities 2,167 2,333 1,167 Total Liabilities 5,273 2,338 1,172 Members’ Equity 34,643 36,854 37,716 Total Liabilities and Members’ Equity $ 39,916 $ 39,192 $ 38,888 Rent Revenue on Operating Lease $ 16,293 $ 19,085 $ 17,571 Expenses 4,179 3,455 3,440 Net Income $ 12,114 $ 15,630 $ 14,131

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	NOTE 4 — INVESTMENTS The Cooperative has determined fair value of its investments held to maturity based on Level 2 inputs. December 31, 2020: Level 1 Level 2 Level 3 Total Corporate Bonds $ $ $ $ Money Market & CD’s — 441 — 441 $ — $ 5,289 $ — $ 5,289 December 31, 2019: Corporate Bonds $ $ $ $ Money Market & CD’s — 336 — 336 $ — $ 5,108 $ — $ 5,108 The Cooperative’s investments held to maturity are as follows as of December 31, 2020 and 2019 (in thousands): Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2020: Corporate Bonds $ $ $ ) $ Money Market & CD’s 441 — — 441 $ $ $ ) $ 5,289 December 31, 2019: Corporate Bonds $ $ $ $ Money Market & CD’s 336 — — 336 $ $ $ $ 5,108 Corporate bond maturities are as follows as of December 31, 2020 (in thousands): Net Carrying Amount Fair Value Due in 1 year or less $ 2,997 $ 3,022 Due in 2 to 5 years 1,536 1,624 Due in 6 to 10 years 207 202 $ 4,740 $

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 5 — INCOME TAXES The Cooperative follows the provisions of ASC 740-10 related to accounting for uncertainty in income taxes. The Cooperative had no unrecognized tax benefits on December 31, 2020 and 2019. No interest or penalties are recognized in the statements of operations or in the balance sheets. The Cooperative recognized no income tax expense for the years ended December 31, 2020, 2019 and 2018

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	NOTE 6 — EMPLOYEE BENEFIT PLANS Pension Plan — As of December 31, 2020, the pension plan was funded as required by the funding standards set forth by the Employee Retirement Income Security Act (ERISA). The Cooperative’s Compensation Committee has the responsibility of managing the operations and administration of the Cooperative’s retirement plans. The Cooperative has an investment policy that establishes target asset allocations to reduce the risk of large losses. Asset classes are diversified to reduce risk, and equity exposure is limited to 50% of the total portfolio value. The investment objectives is to achieve a rate of return sufficient to fully fund the pension obligation of the plan without assuming undue risk through investment vehicles with no greater than average variability of the markets themselves. Substantially all of the Plan’s assets consist of Collective Investment Trusts or Mutual Funds (Fund) and are valued based on Level I or Level II inputs, as determined from the Fund’s ASC 715-30 footnote included in the Fund’s audited financial statements. The Fund’s valuation techniques include market matrix pricing and market inputs, including bench mark yields, reported trades, broker/dealer quotes and others. There has been no changes in valuation techniques and inputs in 2020, 2019 and 2018. The assumptions used in the measurement of the Cooperative’s benefit obligations are shown below: 2020 2019 Discount Rate 3.50 % 3.50 % Expected Return on Plan Assets 5.07 % 5.45 % Rate of Compensation Increase n/a % n/a % The following schedule reflects the expected pension benefit payments during each of the next five years and the aggregate for the following five years (in thousands): Expected Benefit Payments 2021 $ 55 2022 55 2023 50 2024 49 2025 49 2026-2030 239 Total $ 497 The Cooperative does not expect to contribute to the defined benefit pension plan during the next fiscal year. The following schedules provide the components of the Net Periodic Pension Costs for the periods ended December 31, 2020, 2019 and 2018 (in thousands): 2020 2019 2018 Interest Cost $ 25 $ 26 $ 32 Expected Return on Plan Assets (46 ) (44 ) (38 ) Amortization of Net (Gain) Loss — 0 77 Net Periodic Pension Cost $ (21 ) $ (18 ) $ 71 The following schedules set forth a reconciliation of the changes in the plan’s benefit obligation and fair value of assets for the periods ending December 31, 2020 and 2019 and a statement of the funded status and amounts recognized in the Balance Sheets and Accumulated Other Comprehensive Income as of December 31, 2020 and 2019 (in thousands): December 31, December 31, 2020 2019 Change in Benefit Obligation Obligation at the Beginning of the Period $ 784 $ 734 Service Cost — — Interest Cost 26 32 Actuarial (Gain) Loss (3 ) 73 Benefits Paid (55 ) (55 ) Obligation at the End of the Period $ 752 $ 784 Change in Plan Assets Fair Value at the Beginning of the Period $ 844 $ 766 Actual Returns on Plan Assets 145 133 Employer Contributions 1 — Benefits Paid (55 ) (55 ) Fair Value at the End of the Period $ 935 $ 844 Funded Status Funded Status as of Period Ended $ 183 $ 60 Net Amount Recognized $ — $ — 401(k) Plan

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 7 — COMMITMENTS AND CONTINGENCIES The Cooperative contracted with Cargill, Incorporated in connection with the procurement of corn which includes payments of $60,000 in 2020. The contract continues until the termination of the second amended and restated facility lease agreement between ProGold and Cargill, which was effective as of January 1, 2018 On April 4, 2017, the Cooperative, Cargill, and American Crystal entered into a Consent Agreement, effective on January 1, 2018, relating to the lease of ProGold’s wet-milling facility to Cargill and the Cooperative’s interest in ProGold. On the same day, Cargill and American Crystal entered into an Option Agreement, effective on January 1, 2018, detailing the price, term and other conditions under which American Crystal grants to Cargill an exclusive option to purchase a 50% interest in ProGold from American Crystal during the first four years of the lease. Under the Consent Agreement, the Cooperative approves and consents to the transfer of the 50% interest in ProGold from American Crystal to Cargill in the event Cargill exercises its option. The Cooperative also secures the right to purchase American Crystal’s remaining 1% interest in ProGold for a base price ranging from $1.7 million to $1.3 million, depending on when Cargill notifies American Crystal of its intention to exercise its option. The Cooperative would also be required to pay to American Crystal a capital adjustment in an amount equal to 1% of the portion of costs that have not been paid by Cargill to ProGold through additional rent with respect to certain projects at the facility. In the event Cargill intends to exercise its option, before exercising such option, Cargill and the Cooperative will expeditiously and in good faith work together to finalize agreements for the structure, governance and operation of ProGold according to certain operational principles and other guideline terms as provided in a Memorandum of Understanding attached to the Consent Agreement

LINE OF CREDIT

LINE OF CREDIT	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
LINE OF CREDIT	NOTE 8 – LINE OF CREDIT The Cooperative established a $2,000,000 line of credit with a variable interest rate based on the prime rate that terminates on October 16, 2022. The line of credit is secured by the Investment Management Agency account for Golden Growers maintained by Bell Bank. There is no outstanding balance as of December 31, 2020.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 - SUBSEQUENT EVENTS In February of 2021, the Cooperative declared a distribution of $2,013,762, or $.13 per outstanding membership unit. Management has reviewed subsequent events through March 5, 2021 the date to which the financial statements were available to be issued and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to the financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Investments	Investments
Cash and Cash Equivalents	Cash and Cash Equivalents
Income Taxes	Income Taxes
Property and Equipment	Property and Equipment
Accounting Estimates	Accounting Estimates
Leases	Leases –
Revenue Recognition	Revenue Recognition The Cooperative’s members are contractually obligated to annually deliver corn to the Cooperative by either Method A or Method B or a combination of both. Under Method A, a member is required to physically deliver corn to the cooperative and under Method B a member appoints the cooperative as its agent to arrange for the acquisition and delivery of corn on the member’s behalf. The Cooperative contractually appoints Cargill as its agent to arrange for the delivery of the corn by its members who elect to deliver corn using Method A and to acquire corn on its behalf for its members who elect to deliver corn using Method B. In exchange for these services, commencing on January 1, 2018 the Cooperative paid Cargill an annual fee of $60,000, paid in quarterly installments. The price per bushel paid to the member who elects to deliver corn using Method B is equal to the price per bushel paid by Cargill to acquire the corn as the Cooperative’s agent. Members who deliver corn under Method A are paid the market price or contracted price for their corn at the time of delivery. The Cooperative pays members who deliver corn under Method A an incentive payment of $.05 per bushel while members who elect Method B to deliver corn pay the Cooperative a $.02 per bushel agency fee for the cost of having the Cooperative deliver corn on their behalf. The board has the discretion to change the incentive fee and the agency fee based on the Cooperative’s corn delivery needs. The incentive fee and agency fee are a component of Corn Expense. With respect to all Method A corn that is delivered, Cargill reports the purchase price as the product of Method A bushels delivered during a month and the average purchase price for the month. If at the conclusion of the year, a Method A member fails to fully satisfy the corn delivery requirement, Cargill will purchase replacement corn. The member with a Method A shortfall will be responsible for a purchased corn fee payable to Cargill and an agency fee determined by the Board of Directors for all bushels needed to complete their annual Method A delivery. The Cooperative shall notify Cargill of the number of Method B bushels to be purchased during the quarter. Cargill will certify to the Cooperative that it has purchased the necessary Method B bushels. Method B corn revenue will be determined to be equal to the price paid. The Cooperative has determined Corn Expense for Method B deliveries based on the average quarterly cost per bushel paid by Cargill to the Cooperative’s members for Method A quarterly deliveries.
Concentrations	Concentrations -
Fair Value Measurements	Fair Value Measurements ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820-10 also establishes a fair value hierarchy, which prioritizes the valuation inputs into three broad levels. Level 1 inputs consist of quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the related asset or liability. Level 3 inputs are unobservable inputs related to the asset or liability.

PROGOLD LIMITED LIABILITY COM_2

PROGOLD LIMITED LIABILITY COMPANY (Tables)	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Schedule of financial information for ProGold LLC	December 31, (In Thousands) 2020 2019 2018 Current Assets $ 216 $ 230 $ 245 Long-Term Assets 39,700 38,962 38,643 Total Assets $ 39,916 $ 39,192 $ 38,888 Current Liabilities $ 3,106 $ 5 $ 5 Long-Term Liabilities 2,167 2,333 1,167 Total Liabilities 5,273 2,338 1,172 Members’ Equity 34,643 36,854 37,716 Total Liabilities and Members’ Equity $ 39,916 $ 39,192 $ 38,888 Rent Revenue on Operating Lease $ 16,293 $ 19,085 $ 17,571 Expenses 4,179 3,455 3,440 Net Income $ 12,114 $ 15,630 $ 14,131

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of fair value of investments held to maturity based on level 2 inputs	December 31, 2020: Level 1 Level 2 Level 3 Total Corporate Bonds $ $ $ $ Money Market & CD’s — 441 — 441 $ — $ 5,289 $ — $ 5,289 December 31, 2019: Corporate Bonds $ $ $ $ Money Market & CD’s — 336 — 336 $ — $ 5,108 $ — $ 5,108
Schedule of investments held to maturity	Amortized Unrealized Unrealized Cost Gains Losses Fair Value December 31, 2020: Corporate Bonds $ $ $ ) $ Money Market & CD’s 441 — — 441 $ $ $ ) $ 5,289 December 31, 2019: Corporate Bonds $ $ $ $ Money Market & CD’s 336 — — 336 $ $ $ $ 5,108
Schedule of bond maturities	Net Carrying Amount Fair Value Due in 1 year or less $ 2,997 $ 3,022 Due in 2 to 5 years 1,536 1,624 Due in 6 to 10 years 207 202 $ 4,740 $

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of assumptions used in the measurement of the entity's benefit obligations	2020 2019 Discount Rate 3.50 % 3.50 % Expected Return on Plan Assets 5.07 % 5.45 % Rate of Compensation Increase n/a % n/a %
Schedule of expected pension benefit payments	Expected Benefit Payments 2021 $ 55 2022 55 2023 50 2024 49 2025 49 2026-2030 239 Total $ 497
Components of Net Periodic Benefit Cost	2020 2019 2018 Interest Cost $ 25 $ 26 $ 32 Expected Return on Plan Assets (46 ) (44 ) (38 ) Amortization of Net (Gain) Loss — 0 77 Net Periodic Pension Cost $ (21 ) $ (18 ) $ 71
Schedule of changes in the plan’s benefit obligation and plan assets and funded status	December 31, December 31, 2020 2019 Change in Benefit Obligation Obligation at the Beginning of the Period $ 784 $ 734 Service Cost — — Interest Cost 26 32 Actuarial (Gain) Loss (3 ) 73 Benefits Paid (55 ) (55 ) Obligation at the End of the Period $ 752 $ 784 Change in Plan Assets Fair Value at the Beginning of the Period $ 844 $ 766 Actual Returns on Plan Assets 145 133 Employer Contributions 1 — Benefits Paid (55 ) (55 ) Fair Value at the End of the Period $ 935 $ 844 Funded Status Funded Status as of Period Ended $ 183 $ 60 Net Amount Recognized $ — $ —

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details)	Sep. 01, 2009$ / shares	Aug. 31, 2009	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2018	Aug. 31, 2008$ / sharesshares	Jan. 19, 1994Unit
Schedule of Equity Method Investments [Line Items]
Number of other partners to ProGold joint venture | Unit							2
Ownership percentage in joint venture			49.00%
Redemption price of Class A Common Voting Membership Stock (in dollars per share) | $ / shares	$ 150
Non-voting preferred stock, authorized (in shares)						10,000
Non-voting preferred stock, authorized, par value (in dollars per share) | $ / shares						$ 1,000
Non-voting preferred stock, issued (in shares)						0
Non-voting preferred stock, outstanding (in shares)						0
Percentage of book value of stock, paid as a consideration, in the event of right to recall stock of any member was exercised		25.00%
Progold Limited Liability Company [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint venture			49.00%
Progold Limited Liability Company [Member] | Co Venturer [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage in joint venture			51.00%
Ownership percentage available to be purchased under Option Agreement			50.00%	50.00%	50.00%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jan. 01, 2018USD ($)Unit	Dec. 31, 2020USD ($)$ / Bushel	Dec. 31, 2019USD ($)
Income Taxes
Excess of net financial basis over tax basis		$ 7,300,000	$ 7,300,000
Revenue Recognition
Annual contractual payments to Cargill to arrange for the delivery of the corn and other agency services	$ 60,000
Number of installments | Unit	4
Incentive paid per bushel to members who deliver corn under Method A | $ / Bushel		0.05
Agency fee paid per bushel by the members who elect Method B | $ / Bushel		0.02
Concentrations
Cash balance in excess of the FDIC insurance limits		$ 3,300,000
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives		10 years
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives		5 years

PROGOLD LIMITED LIABILITY COM_3

PROGOLD LIMITED LIABILITY COMPANY (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Ownership percentage in joint venture	49.00%
Financial information for ProGold LLC
Current Assets	$ 216	$ 230	$ 245
Long-Term Assets	39,700	38,962	38,643
Total Assets	39,916	39,192	38,888
Current Liabilities	3,106	5	5
Long-Term Liabilities	2,167	2,333	1,167
Total Liabilities	5,273	2,338	1,172
Members' Equity	34,643	36,854	37,716
Total Liabilities and Members' Equity	39,916	39,192	38,888
Rent Revenue on Operating Lease	16,293	19,085	17,571
Expenses	4,179	3,455	3,440
Net Income	$ 12,114	$ 15,630	$ 14,131

INVESTMENTS - (Details)

INVESTMENTS - (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	$ 5,289	$ 5,108
All Other Corporate Bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	4,848	4,772
Money Market Funds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	441	336
Fair Value Inputs Level2 [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	5,289	5,108
Fair Value Inputs Level2 [Member] | All Other Corporate Bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	4,848	4,772
Fair Value Inputs Level2 [Member] | Money Market Funds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	$ 441	$ 336

INVESTMENTS - Investments held

INVESTMENTS - Investments held to maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 5,181	$ 5,027
Unrealized Gains	113	81
Unrealized Losses	(5)
Fair Value	5,289	5,108
All Other Corporate Bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	4,740	4,691
Unrealized Gains	113	81
Unrealized Losses	(5)
Fair Value	4,848	4,772
Money Market Funds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	441	336
Fair Value	$ 441	$ 336

INVESTMENTS _ Corporate Bond Ma

INVESTMENTS – Corporate Bond Maturities (Details) $ in Thousands	Dec. 31, 2020USD ($)
Schedule of Net Carrying Amount of Bond Securities
Due in 1 year or less	$ 2,997
Due in 2 to 5 years	1,536
Due in 6 to 10 years	207
Total	4,740
Schedule of Fair Value of Bond Securities
Due in 1 year or less	3,022
Due in 2 to 5 years	1,624
Due in 6 to 10 years	202
Total	$ 4,848

EMPLOYEE BENEFIT PLANS - Net Pe

EMPLOYEE BENEFIT PLANS - Net Periodic Pension Cost (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Anticipated contributions	$ 0
Pension expenses	$ 1,000	$ 0	$ 4,000
Maximum equity exposure as a percentage of total portfolio value	50.00%

EMPLOYEE BENEFIT PLANS - Paymen

EMPLOYEE BENEFIT PLANS - Payments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assumptions used in measurement of benefit obligations
Discount Rate (as a percent)	3.50%	3.50%
Expected Return on Plan Assets (as a percent)	5.07%	5.45%
Expected pension benefit payments
2021	$ 55
2022	55
2023	50
2024	49
2025	49
2026-2030	239
Total	497
Components of Net Periodic Benefit Cost
Interest Cost	25	$ 26	$ 32
Expected return on plan assets	(46)	(44)	(38)
Amortization of net (gain) loss			77
Net periodic pension cost	$ (21)	$ (18)	$ 71

EMPLOYEE BENEFIT PLANS - Change

EMPLOYEE BENEFIT PLANS - Change in benefit obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Change in Benefit Obligation
Obligation at the Beginning of the Period	$ 784	$ 734
Interest Cost	26	32
Actuarial (Gain) Loss	(3)	73
Benefits Paid	(55)	(55)
Obligation at the End of the Period	752	784
Change in Plan Assets
Fair Value at the Beginning of the Period	844	766
Actual Returns on Plan Assets	145	133
Employer Contributions	1
Benefits Paid	(55)	(55)
Fair Value at the End of the Period	935	844
Funded Status
Funded Status as of Period Ended	$ 183	$ 60

EMPLOYEE BENEFIT PLANS - Contri

EMPLOYEE BENEFIT PLANS - Contributions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
401(k) Plan
Contributions to the plan	$ 6,829	$ 6,931	$ 6,662

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Jan. 01, 2018USD ($)Unit	Dec. 31, 2020	Dec. 31, 2019
Annual contractual payments to Cargill for procurement of corn	$ 60,000
Number Of Installments | Unit	4
Progold Limited Liability Company [Member]
Ownership percentage remaining for purchase under Consent Agreement	1.00%
Portion of costs that have not been paid and the Cooperative would be required to pay	1.00%
Progold Limited Liability Company [Member] | Co Venturer [Member]
Ownership percentage available to be purchased under Consent Agreement	50.00%	50.00%	50.00%
Number of years interest is available for purchase	4 years
Minimum [Member] | Progold Limited Liability Company [Member]
Purchase price	$ 1,300,000
Maximum [Member] | Progold Limited Liability Company [Member]
Purchase price	$ 1,700,000

LINE OF CREDIT (Details)

LINE OF CREDIT (Details)	Dec. 31, 2020USD ($)
Debt Disclosure [Abstract]
Line of credit maximum borrowing capacity	$ 2,000,000
Line of credit	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event [Member]	1 Months Ended
	Feb. 28, 2021USD ($)$ / shares
Subsequent Event [Line Items]
Authorized distribution | $	$ 2,013,762
Distribution declared (in dollars per unit) | $ / shares	$ 0.13