Texas Beef Council FY2023 filing

Not tax-deductible

Austin, TX501(c)(5)Since 1986EIN 74-2437837Revenue $5.4M in FY2023

On file with the IRS8708 Ranch Rd 620 North, 78726-3503 · Austin, TXTax-exempt since Jul 1987

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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.

$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2023 · 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
$1.1M
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.2M
46% of total assets
Looks good: liabilities are 46% of assets; 50% or less.
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
$5.4M
-3% vs prior year
Spent
$5.0M
Net assets
$3.7M
By yearFY2020–FY2024
Revenue
$5.4M
FY2023▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.2M
FY2021$5.2M
FY2022$5.6M
FY2023$5.4M
FY2024$5.1M
FY2024$5.0M
Expenses
$5.0M
FY2023▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.3M
FY2021$4.7M
FY2022$4.8M
FY2023$5.0M
FY2024$4.3M
FY2024$4.4M
Net assets
$3.7M
FY2023▲ +13%
Tap a bar for its year
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 FY2023 Form 990 (year ending September 2023) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Vice President
$262,551Pt VII · Sec A
VP Finance & Operations
$207,698Pt VII · Sec A
VP Marketing
$164,781Pt VII · Sec A
VP Beef Resources
$164,642Pt VII · Sec A
Director, Consumer Mktg
$136,955Pt VII · Sec A
SR. Manager-Channel Market
$131,853Pt VII · Sec A
$0Pt VII · Sec A
$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.

Questions for Texas Beef Council

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Provided by the organization

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3 programs · in their own filed words · FY2022
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 Communication

To educate producers and other organizations in the beef industry of current developments involving beef and beef products and the beef checkoff program.

Pt IX · col B

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 FY2023 990, line by line.

1The main four
Money inPt VIII
$5.4M
Ln 12
Fees for servicesLn 2g$5.3M
Investment incomeLn 3$141K
Other incomeLn 4–11$9K
Money outPt IX
$5.0M
Ln 25
Owns and owesPt X
$3.7M
net assets · Ln 32
Cash and savingsLn 1–2$782K
Total assetsLn 16$7.0M
LiabilitiesLn 26$3.2M
PeoplePt VI, VII
28
listed · VII A
PaidVII A6
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$5.3M
Investment incomeLn 3$141K
Other incomeLn 4–11$9K
Gains on assetsLn 7$5K
Total revenueLn 12$5.4M
Assets in detailPt X, end of year
SavingsLn 2$782K
Cash and savings togetherLn 1–2$782K
InvestmentsLn 11–13$2.1M
Land, buildings, equipmentLn 10c$1.3M
Total assetsLn 16$7.0M
LiabilitiesLn 26$3.2M
Net assetsLn 32$3.7M
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 FY23End FY23
Cash and savingsLn 1–2$1.2M$782K
InvestmentsLn 11–13$1.9M$2.1M
Land, buildings, equipmentLn 10c$1.1M$1.3M
Total assetsLn 16$6.7M$7.0M
LiabilitiesLn 26$3.4M$3.2M
Net assetsLn 32$3.3M$3.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$9K
Pay of current officers, directors and key staffLn 5$148K
Other salaries and wagesLn 7$438K
Pension plan contributionsLn 8$20K
Other employee benefitsLn 9$84K
Payroll taxesLn 10$42K
Accounting feesLn 11c$5K
Other fees for servicesLn 11g$465K
Advertising and promotionLn 12$361K
Office expensesLn 13$38K
Information technologyLn 14$21K
OccupancyLn 16$45K
TravelLn 17$72K
Conferences, conventions and meetingsLn 19$30K
Payments to affiliatesLn 21$3.0M
Depreciation, depletion and amortizationLn 22$33K
InsuranceLn 23$7K
Other expenses (24a–d)Ln 24$125K
All other expensesLn 24e$1K
Total functional expensesLn 25$5.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $5.1M$4.3M$855K$4.6M 990 PDF
FY2023 Viewing $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 $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 FY2023 990 (6 parts)
Part I · Summary $5,420,724 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $5,567,595$5,271,045
I-10 Investment incomePrior year $8,180$140,666
I-11 Other revenuePrior year $12,236$9,013
I-12 Total revenuePrior year $5,588,011$5,420,724
I-13 Grants and similar amounts paidPrior year $7,517$8,842
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $666,513$731,586
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,165,242$4,241,527
I-18 Total expensesPrior year $4,839,272$4,981,955
I-19 Revenue less expensesPrior year $748,739$438,769
Part VI · Governance 20 of 20 board members independent, no flags
VI-1a Voting members of the governing body20
VI-1b Independent voting members20
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,420,724 across 4 lines filed
Lines not itemized here account for $9,013 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,271,045$5,271,045
VIII-3 Investment incomeExcluded from tax $135,516$135,516
VIII-7 Net gain or loss on sales of assetsRelated to mission $5,150$5,150
VIII-12 Total revenueRelated to mission $5,276,195 · Unrelated business $9,013 · Excluded from tax $135,516$5,420,724
Part IX · Statement of functional expenses $4,981,955 across 19 lines filed
IX-1 Grants to domestic organizations$8,842
IX-5 Pay of current officers, directors and key staff$147,985
IX-7 Other salaries and wages$437,905
IX-8 Pension plan contributions$19,827
IX-9 Other employee benefits$83,978
IX-10 Payroll taxes$41,891
IX-11c Accounting fees$5,185
IX-11g Other fees for services$464,670
IX-12 Advertising and promotion$361,079
IX-13 Office expenses$37,644
IX-14 Information technology$21,467
IX-16 Occupancy$44,520
IX-17 Travel$71,963
IX-19 Conferences, conventions and meetings$30,290
IX-21 Payments to affiliates$3,038,500
IX-22 Depreciation, depletion and amortization$33,384
IX-23 Insurance$7,140
IX-24 Other expenses (24a–d)$124,586
IX-24e All other expenses$1,099
IX-25 Total functional expenses$4,981,955
Part X · Balance sheet $6,971,911 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,202,554$781,615
X-4 Accounts receivableStart of year $2,019,889$2,131,318
X-8 Inventories for sale or useStart of year $385,228$454,400
X-9 Prepaid expenses and deferred chargesStart of year $151,580$200,344
X-10c Land, buildings and equipment, netStart of year $1,132,994$1,297,758
X-11 Publicly traded securitiesStart of year $1,852,963$2,106,476
X-16 Total assetsStart of year $6,745,208$6,971,911
X-17 Accounts payable and accrued expensesStart of year $1,368,176$877,132
X-25 Other liabilitiesStart of year $2,077,768$2,352,295
X-26 Total liabilitiesStart of year $3,445,944$3,229,427
X-27 Net assets without donor restrictionsStart of year $3,299,264$3,742,484
X-32 Total net assets or fund balancesStart of year $3,299,264$3,742,484
X-33 Total liabilities and net assetsStart of year $6,745,208$6,971,911
Part XI · Reconciliation of net assets $3,742,484 net assets at year end
XI-1 Total revenue$5,420,724
XI-2 Total expenses$4,981,955
XI-3 Revenue less expenses$438,769
XI-4 Net assets at start of year$3,299,264
XI-5 Net unrealized gains (losses) on investments$4,451
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,742,484

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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