Texas Beef Council FY2020 filing

Not tax-deductible

Austin, TX501(c)(5)Since 1986EIN 74-2437837

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To plan, implement and conduct programs of promotion, research, consumer information and industry information designed to strengthen the Beef industry's market position in Texas and nationally and to maintain and expand domestic and foreign markets and uses for Beef and Beef products.

$948K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $492K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$948K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.6M
64% of total assets
Fine: liabilities are 64% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
20
of 20 voting members
Looks good: 20 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.2M
Spent
$5.3M
Net assets
$2.1M
By yearFY2020–FY2024
Revenue
$5.2M
FY2020
Revenue by fiscal year
FY2020$5.2M
FY2021$5.2M
FY2022$5.6M
FY2023$5.4M
FY2024$5.1M
FY2024$5.0M
Expenses
$5.3M
FY2020
Expenses by fiscal year
FY2020$5.3M
FY2021$4.7M
FY2022$4.8M
FY2023$5.0M
FY2024$4.3M
FY2024$4.4M
Net assets
$2.1M
FY2020
Net assets by fiscal year
FY2020$2.1M
FY2021$2.6M
FY2022$3.3M
FY2023$3.7M
FY2024$4.6M
FY2024$5.2M

From the FY2020 Form 990 (year ending September 2020) · figures checked against the IRS filing · see the original

You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1987.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

28 people listed on the 990; $948K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Executive Vice President
$270,793Pt VII · Sec A
VP Finance & Operations
$176,969Pt VII · Sec A
VP Domestic Marketing
$135,862Pt VII · Sec A
VP Marketing
$128,829Pt VII · Sec A
SR. Manager-Channel Marketing
$120,705Pt VII · Sec A
VP Beef Resources
$115,089Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Molly McAdams$287,909$276,048$262,551$265,937——
Richard Wortham————$280,997$270,793
Michael Loeffler$212,773$207,702$207,698$190,188$183,165$176,969
Jason Bagley$173,180$168,467$164,642$148,540$142,436$115,089
Jennifer Matison$169,797$165,565$164,781$150,130$144,844$128,829
Rachel Chou$145,373$141,509$136,955$125,031$122,430—
Linda Bebee—————$135,862
Russell Woodward——$131,853$126,649$125,755$120,705

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes, researches, and informs to strengthen the beef industry's market position and expand its uses.

Provided by the organization

This section is blank until Texas Beef Council claims this page.

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3 program services, described in the organization's own filed words · FY2019.
01

Domestic Marketing

To expand consumer beef knowledge through programs designed to promote its nutritional benefits and to help build strong markets for beef products by developing and coordinating the use of available promotion resources.

Pt IX · col B
02

Export Market Development

To build strong and profitable markets for beef products, domestic and foreign, by developing and coordinating the use of available promotion resources.

Pt IX · col B
03

Producer Communications

To educate producers and other organizations in the beef industry of current developments in the production and marketing of beef and beef products.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $40K · 2019–2024
Texas Cattlewomen INCTX · FY2024$6,251
Texas Cattlewomen INCTX · FY2023$7,397
Texas Cattlewomen INCTX · FY2022$8,842
Texas Cattlewomen INCTX · FY2021$7,517
Texas Cattlewomen INCTX · FY2020$5,012
Texas Cattlewomen INCTX · FY2019$5,290

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$5.2M
Ln 12
Fees for servicesLn 2g$5.2M
Investment incomeLn 3$23K
Other incomeLn 4–11$11K
Money outPt IX
$5.3M
Ln 25
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$5.6M
LiabilitiesLn 26$3.6M
PeoplePt VI, VII
28
listed · VII A
PaidVII A6
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Fees for servicesLn 2g$5.2M
Investment incomeLn 3$23K
Other incomeLn 4–11$11K
Gains on assetsLn 7$6K
Total revenueLn 12$5.2M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$1.9M
Cash and savings togetherLn 1–2$1.9M
InvestmentsLn 11–13$249K
Land, buildings, equipmentLn 10c$801K
Total assetsLn 16$5.6M
LiabilitiesLn 26$3.6M
Net assetsLn 32$2.1M
OperationsPt I, VI
EmployeesI 523
VolunteersI 624
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$369K$1.9M
InvestmentsLn 11–13$249K
Land, buildings, equipmentLn 10c$856K$801K
Total assetsLn 16$5.3M$5.6M
LiabilitiesLn 26$3.1M$3.6M
Net assetsLn 32$2.1M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5K
Pay of current officers, directors and key staffLn 5$151K
Other salaries and wagesLn 7$337K
Pension plan contributionsLn 8$16K
Other employee benefitsLn 9$46K
Payroll taxesLn 10$33K
Legal feesLn 11b$532
Accounting feesLn 11c$4K
Other fees for servicesLn 11g$391K
Advertising and promotionLn 12$284K
Office expensesLn 13$27K
Information technologyLn 14$13K
OccupancyLn 16$31K
TravelLn 17$26K
Conferences, conventions and meetingsLn 19$17K
Payments to affiliatesLn 21$3.8M
Depreciation, depletion and amortizationLn 22$15K
InsuranceLn 23$5K
Other expenses (24a–d)Ln 24$80K
Total functional expensesLn 25$5.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $5.1M$4.3M$855K$4.6M 990 PDF
FY2023 $5.4M$5.0M$439K$3.7M 990 PDF
FY2022 $5.6M$4.8M$749K$3.3M 990 PDF
FY2021 $5.2M$4.7M$497K$2.6M 990 PDF
FY2020 Viewing $5.2M$5.3M−$81K$2.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $5,202,477 across 6 lines filed
Lines not itemized here account for $10,841 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$2,000
VIII-1h Total contributions, gifts and grants$2,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,166,820$5,166,820
VIII-3 Investment incomeExcluded from tax $16,316$16,316
VIII-7 Net gain or loss on sales of assetsRelated to mission $6,500$6,500
VIII-12 Total revenueRelated to mission $5,173,320 · Unrelated business $10,841 · Excluded from tax $16,316$5,202,477
Part IX · Statement of functional expenses $5,283,322 across 19 lines filed
IX-1 Grants to domestic organizations$5,290
IX-5 Pay of current officers, directors and key staff$151,125
IX-7 Other salaries and wages$336,829
IX-8 Pension plan contributions$16,109
IX-9 Other employee benefits$46,434
IX-10 Payroll taxes$33,200
IX-11b Legal fees$532
IX-11c Accounting fees$4,275
IX-11g Other fees for services$391,374
IX-12 Advertising and promotion$284,365
IX-13 Office expenses$27,403
IX-14 Information technology$13,008
IX-16 Occupancy$30,619
IX-17 Travel$26,261
IX-19 Conferences, conventions and meetings$16,635
IX-21 Payments to affiliates$3,800,000
IX-22 Depreciation, depletion and amortization$14,525
IX-23 Insurance$5,148
IX-24 Other expenses (24a–d)$80,190
IX-25 Total functional expenses$5,283,322
Part X · Balance sheet $5,629,776 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $100$0
X-2 Savings and temporary cash investmentsStart of year $369,209$1,892,401
X-4 Accounts receivableStart of year $2,017,955$2,158,817
X-8 Inventories for sale or useStart of year $461,392$412,088
X-9 Prepaid expenses and deferred chargesStart of year $52,791$116,515
X-10c Land, buildings and equipment, netStart of year $856,012$800,944
X-11 Publicly traded securities$249,011
X-16 Total assetsStart of year $5,251,802$5,629,776
X-17 Accounts payable and accrued expensesStart of year $1,223,357$1,221,664
X-25 Other liabilitiesStart of year $1,892,994$2,354,838
X-26 Total liabilitiesStart of year $3,116,351$3,576,502
X-27 Net assets without donor restrictionsStart of year $2,135,451$2,053,274
X-32 Total net assets or fund balancesStart of year $2,135,451$2,053,274
X-33 Total liabilities and net assetsStart of year $5,251,802$5,629,776
Part XI · Reconciliation of net assets $2,053,274 net assets at year end
XI-1 Total revenue$5,202,477
XI-2 Total expenses$5,283,322
XI-3 Revenue less expenses−$80,845
XI-4 Net assets at start of year$2,135,451
XI-5 Net unrealized gains (losses) on investments−$1,332
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,053,274

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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