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
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AFBFA
American Farm Bureau Foundation for Agriculture
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CBB
Cattlemen's Beef Board
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FMPRE
Foundation for Meat and Poultry Research and Education
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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
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NIAA
National Institute for Animal Agriculture
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USCA
United States Cattlemen’s Association
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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.