Financials

Cattlemen’s Beef Promotion And Research Board

Statement of Assets, Liabilities and Net Assets September 30, 2019 and September 30, 2018

Assets 2019 2018
Cash and cash equivalents $6,413,616 $9,250,308
Short-term investments $11,000,000 $9,000,000
Long-term investments $5,500,000 $5,500,000
Capital assets, net of accumulated depreciation of $72,744 and $74,768 $2,150 $5,129
TOTAL ASSETS $22,915,766 $23,755,437

 

 

Liabilities & Net Assets 2019 2018
Due to state beef councils & other $2,499 $2,622
Montana Payables for Assessments and Other $954,992 $577,547
Net Assets, Without Donor Restriction:
Designated for future expenses $15,912,520 $16,020,917
Designated – Board reserve $4,350,000 $4,350,000
Undesignated $1,695,755 $2,804,351
TOTAL LIABILITIES & NET $22,915,766 $23,755,437

 

 

Revenues 2019 2018
Assessments $42,706,709 $42,560,297
Interest $346,900 $155,700
Other $35,555 $42,763
TOTAL REVENUES $43,089,164 $42,758,760

 

 

Program Expenses 2019 2018
Promotion $10,580,409 $9,225,691
Research $9,891,043 $8,042,093
Consumer information $7,571,245 $7,345,798
Industry information $3,357,876 $3,560,607
Foreign marketing $8,347,484 $7,640,567
Producer communications $1,637,234 $1,179,898
Program evaluation $158,875 $230,795
Program development $435,772 $295,075
TOTAL PROGRAM EXPENSES $41,979,938 $37,520,524

 

 

Supporting Services 2019 2018
USDA oversight* $596,367 $601,68
Administration $1,729,852 $1,811,956
TOTAL EXPENSES $44,306,157 39,934,161

 

*Included in the USDA Oversight amount is approximately $404,000 paid by the Cattlemen’s Beef Board to USDA for oversight fees during the year. The remaining $192,000 is related to cost incurred by Cattlemen’s Beef Board for litigation, meetings with USDA, freedom of information act requests, settlement requests, and authorization requests.

Assessment Revenues

Qualified State Beef Councils 2019
Alabama $321,116
Arizona $313,330
Arkansas $410,492
California $1,936,999
Colorado $1,620,435
Delaware $4,361
Florida $302,485
Georgia $268,856
Hawaii $18,040
Idaho $855,514
Illinois $329,040
Indiana $248,521
Iowa $1,744,134
Kansas $3,830,810
Kentucky $674,572
Louisiana $161,276
Maryland $44,673
Michigan $294,015
Minnesota $795,427
Mississippi $271,188
Missouri $1,325,895
Montana $870,714
Nebraska $3,672,393
Nevada $140,295
New Jersey $4,075
New Mexico $601,866
New York $337,383
North Carolina $167,444
North Dakota $568,315
Ohio $342,006
Oklahoma $1,932,338
Oregon $441,775
Pennsylvania $367,761
South Carolina $74,678
South Dakota $1,575,438
Tennessee $397,651
Texas $5,179,486
Utah $310,796
Vermont $41,738
Virginia $488,057
Washington $635,776
West Virginia $83,594
Wisconsin $764,345
Wyoming $505,166
TOTAL QUALIFIED STATE BEEF $35,274,269

 

 

States Without Qualified State Beef Councils 2019
Alaska $46
Connecticut $13,487
Massachusetts $16,974
Maine $21,816
New Hampshire $10,042
Rhode Island $832
TOTAL STATES WITHOUT QUALIFIED STATE BEEF COUNCILS $63,197
Importers $7,369,243
TOTAL ASSESSMENT REVENUES $42,706,709

 

 

Contractors Key

  • AFBFA

    American Farm Bureau Foundation for Agriculture

  • CBB

    Cattlemen's Beef Board

  • FMPRE

    Foundation for Meat and Poultry Research and Education

  • KSU*

    Kansas State University

  • MICA

    Meat Import Council of America

  • NAMI

    North American Meat Institute

  • NCBA

    National Cattlemen’s Beef Association

  • NEBPI*

    Northeast Beef Promotion Initiative

  • NLPA

    National Livestock Producers Association

  • NIAA*

    National Institute for Animal Agriculture

  • USCA

    United States Cattlemen’s Association

  • USMEF*

    United States Meat Export Federation

*Subcontractor
Figures presented within this report are based on data compiled by individual contractors. Unless indicated otherwise, results are based on October 1, 2018 to September 30, 2019 data.