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FY21 Financials

Cattlemen’s Beef Promotion And Research Board

Statement of Assets, Liabilities and Net Assets, Sept. 30, 2021 and Sept. 30, 2020

Assets 2021 2020
Cash and cash equivalents $21,812,035 $15,281,812
Short-term Investments $2,500,000 $5,500,00
Long-term Investments $2,500,000
Capital assets, net of accumulated depreciation of $42,746 and $39,170 $17,523 $21,228
Other $1,471 $9,240
TOTAL ASSETS $24,331,029 $23,312,280

 

 

Liabilities & Net Assets
2021
2020
Due to state beef councils & other $9,719 $27,007
Net Assets, Without Donor Restriction:
Designated for future expenses $17,978,063 $17,497,459
Designated – board reserve $4,350,000 $4,350,000
Undesignated $1,993,247 $1,437,814
TOTAL LIABILITIES & NET $24,331,029 $23,312,280

 

 

Revenues
2021
2020
Assessments $42,627,123 $41,541,515
Interest $98,086 $293,224
Other $86,921 $46,255
TOTAL REVENUES $42,812,130 $41,880,994

 

 

Program Expenses
2021
2020
Promotion $8,641,332 $10,206,858
Research $8,838,176 $8,349,734
Consumer Information $8,160,511 $7,260,148
Industry Information $3,138,923 $3,392,835
Foreign Marketing $8,479,193 $6,933,262
Checkoff Communications $171,679
Producer Communications $1,568,937 $1,553,769
Program Evaluation $263,087 $202,046
Program Development $316,474 $388,847
TOTAL PROGRAM EXPENSES $39,578,312 $38,287,526

 

 

Supporting Services
2021
2020
USDA Oversight*

$695,634

$761,214
Administration

$1,502,147

$1,505,256

TOTAL EXPENSES

$41,776,093

$40,553,996

* Included in the USDA Oversight amount is approximately $599,000 and $600,000 paid by the Cattlemen’s Beef Board to USDA for oversight fees during fiscal years 2021 and 2020, respectively. The remaining $96,000 and $161,000 is related to cost incurred by the Cattlemen’s Beef Board for litigation, meetings with USDA, Freedom of Information Act requests, settlement requests and authorization requests during fiscal years 2021 and 2020, respectively.

 

Assessment Revenues

Qualified State Beef Councils 2021
Alabama $338,191
Arizona $361,959
Arkansas $427,695
California $1,854,538
Colorado $1,591,426
Delaware $3,440
Florida $312,993
Georgia $275,766
Hawaii $13,671
Idaho $880,301
Illinois $301,767
Indiana $211,654
Iowa $1,672,474
Kansas $4,020,915
Kentucky $632,845
Louisiana $152,592
Maryland $38,373
Michigan $266,979
Minnesota $739,326
Mississippi $282,835
Missouri $1,299,552
Montana $998,654
Nebraska $3,564,063
Nevada $142,766
New Jersey $3,259
New Mexico $622,141
New York $325,998
North Carolina $147,326
North Dakota $636,926
Ohio $332,299
Oklahoma $1,866,006
Oregon $455,852
Pennsylvania $331,748
South Carolina $69,420
South Dakota $1,573,338
Tennessee $387,115
Texas $5,260,853
Utah $311,503
Vermont $40,015
Virginia $377,710
Washington $584,136
West Virginia $74,477
Wisconsin $688,691
Wyoming $554,182
TOTAL QUALIFIED STATE BEEF COUNCILS $35,027,770

 

 

States Without Qualified State Beef Councils 2021
Alaska $292
Connecticut $9,804
Massachusetts $19,561
Maine $18,292
New Hampshire $7,900
Rhode Island $532
TOTAL STATES WITHOUT QUALIFIED STATE BEEF COUNCILS $56,381
Importers $7,542,972
TOTAL ASSESSMENT REVENUES $42,627,123

 

 

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

  • NIAA

    National Institute for Animal Agriculture

  • USCA

    United States Cattlemen’s Association

  • USMEF

    United States Meat Export Federation

  • NYBC*

    New York Beef Council

*Subcontractor
Figures presented within this report are based on data compiled by individual contractors. Unless indicated otherwise, results are based on October 1, 2020 to September 30, 2021 data.