Welcome to FINBIN, the FINPACK farm financial database. This site provides benchmark financial information for farm producers, educators, lenders, and other agricultural professionals.
The database summarizes actual farm data from thousands of agricultural producers who use FINPACK for farm business analysis. FINPACK is a comprehensive farm financial planning and analysis software system used by agricultural producers, professionals, educators and lenders to help over 50,000 producers analyze their farm business each year. FINPACK is developed and supported by the Center for Farm Financial Management at the University of Minnesota.
Data in FINBIN is contributed by farm management education programs that use FINPACK as their farm business analysis and summary program. Farm business management programs that currently contribute data to FINBIN include:
South Carolina Farm Management Association
Additional farm business management associations in other states are in the process of preparing data for submission to FINBIN.
Individual producer information is unavailable in FINBIN and is strictly protected. All queries require a minimum number of farms fitting the search criteria.
Substantial effort goes toward verifying that FINBIN data is accurate. Each producer who contributes data to FINBIN works with a professional agricultural educator or farm business consultant to complete the farm business analysis. Farm business management associations have agreed to standardized procedures so data is uniform. At the individual producer level, FINPACK performs a series of checks to verify that accounts balance. Finally, FINBIN checks for outliers as the data is loaded into database. Outliers are either verified with the participating producer or discarded from the database.
FINBIN deals with real world data and the real world is not perfect, but we work hard to verify, to the best of our ability, that the data is complete and accurate. We feel confident that we and our cooperating partners have done the best job possible to provide meaningful benchmarks for a broad range of agricultural producers.
FINBIN development is supported by the Center for Farm Financial Management , University of Minnesota; USDA’s National Institute of Food and Agriculture (NIFA); and University of Minnesota Extension . The work and support of farm business management associations and education programs who contribute data to FINBIN is essential to the existence and ongoing development of the database.