Oklahoma Beef Industry Council is located in Oklahoma City, OK. The organization was established in 1976. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 09/2023, Oklahoma Beef Industry Council employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oklahoma Beef Industry Council is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 09/2023, Oklahoma Beef Industry Council generated $4.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $4.0m during the year ending 09/2023. While expenses have increased by 0.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE VISION FOR THE OKLAHOMA BEEF COUNCIL IS TO BE A POSITVE DIFFERENCE FOR OKLAHOMA'S FARMING AND RANCHING FAMILIES AND THE GREATER BEEF COMMUNITY. THE MISSION OF THE OKLAHOMA BEEF COUNCIL IS TO STRENGTHEN BEEF DEMAND IN THE DOMESTIC AND GLOBAL MARKETPLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OBC INVESTS IN NATIONAL PROGRAMS DESIGNED TO DRIVE AND ENHANCE THE DEMAND FOR BEEF. FUNDING HELPS ENSURE BEEF CHECKOFF DOLLARS ARE INVESTED IN HIGH POPULATION CENTERS WHERE THE LARGEST BASE OF CONSUMERS LIVE. AS AN EXAMPLE, THE OBC HELPED FUND TWO INTEGRATED SUMMER DIGITAL MARKETING INITIATIVES IN KEY POPULATIONS CENTERS WHERE BEEF ADS WERE SEEN MORE THAN 18 MILLION TIMES ACROSS ALL DIGITAL PLATFORMS. FUNDING ALSO PROVIDED SUPPORT FOR STATE SERVICES SUCH AS DESIGN AND IT SERVICES FOR STATES WITH SMALLER BUDGETS. FINALLY, THE OBC PROVIDED FUNDING SUPPORT FOR BEEF QUALITY RESEARCH IN 2023.
AS A QUALIFIED STATE BEEF COUNCIL, THE OBC COLLECTS ASSESSMENTS OF WHICH FUNDS ARE PASSED THROUGH TO THE STATE OF ORIGIN AND FIFTY CENTS IS REMITTED TO THE CATTLEMENS BEEF BOARD FOR CONDUCTING NATIONAL AND INTERNATIONAL CHECKOFF PROGRAMS.
OBC INVESTS IN THE UNITED STATES MEAT EXPORT FEDERATION, A CONTRACTOR TO THE BEEF CHECKOFF. THE BEEF EXPORT MARKET ADDS MORE THAN $400 PER HEAD TO THE PRICE OF FED CATTLE. IN 2023, OBC INVESTED IN RETAIL/FOODSERVICE PROMOTIONS AND EDUCATION PROGRAMS IN JAPAN, SOUTH KOREA, MEXICO AND AFRICA. AS AN EXAMPLE, OBC PLAYED A PIVOTAL ROLE IN FUNDING SUPPORT FOR BOTH THE OCTOBER-DECEMBER 2022 CAMPAIGN AND APRIL-JUNE 2023 CAMPAIGN IN JAPAN. COMBINED, NEARLY 3,140 MT OF U.S. BEEF WERE SOLD DURING THE SIX MONTHS OF PROMOTION, MOVING NEARLY 7 MILLION POUNDS OF PRODUCT.
OKLAHOMA PROGRAMS ARE DESIGNED TO STRENGTHEN BEEF DEMAND IN OKLAHOMA. AS AN EXAMPLE, THE OBC PROVIDED FUNDING SUPPORT FOR THE BEEF. IT'S WHAT'S FOR DINNER 300 IN 2023 DURING SPEEDWEEK AT DAYTONA. THIS INCLUDED ONSITE ACTIVATION ASSISTANCE AND SUPPORT FOR THE FOXSPORTS1(FS1) PACKAGE WHICH INCLUDED FOUR BEEF TELEVISION COMMERCIALS. FS1 VIEWERSHIP OF THE RACE WAS UP 14% AT 1.69M VIEWS. ADDITIONALLY, THE OBC IN PARTNERSHIP WITH OKLAHOMA WHEAT COMMISSION CREATED A VIDEO SERIES SHOWING CONSUMERS THE SUSTAINABLE RELATIONSHIP BETWEEN THE CATTLE AND WHEAT INDUSTRY. THE OBC ALSO INVESTED IN TWO E-COMMERCE OPPORTUNITIES WITH MAJOR US RETAILERS DURING THE HOLIDAYS AND THE SUMMER GRILLING SEASON IN FY 2023. AS A RESULT OF THIS INVESTMENT, THE OBC WAS ABLE TO DRIVE $2.62 MILLION IN TRACKABLE BEEF SALES IN OKLAHOMA. ADDITIONAL OKLAHOMA PROGRAMS INCLUDE PRODUCER COMMUNICATIONS/COMPLIANCE/RESEARCH-PRODUCER COMMUNICATION PROGRAMS INFORM BEEF PRODUCERS OF HOW BEEF CHECKOFF DOLLARS ARE INVESTED AND THE RESULTS OF THOSE INVESTMENTS. COMPLIANCE PROGRAMS ENSURE CHECKOFF DOLLARS ARE COLLECTED AS PER THE REQUIREMENTS OF A QUALIFIED STATE BEEF COUNCIL. RESEARCH EXPENSES PROVIDE SUPPORT FOR BEEF SCIENCE ACTIVITIES AND EDUCATION AT OKLAHOMA STATE UNIVERSITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Monte Tucker Chairman | Trustee | 2 | $0 |
Melody Varner Vice Chairman | Trustee | 2 | $0 |
Leanne Robison Sectretary/treasurer | Trustee | 2 | $0 |
Russell Boles Member | Trustee | 2 | $0 |
Nikki Callison Member | Trustee | 2 | $0 |
Chuck Coffey Member | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $4,193,308 |
Investment income | $34,413 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $4,232,288 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $129,735 |
Compensation of current officers, directors, key employees. | $20,414 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $186,243 |
Pension plan accruals and contributions | $12,926 |
Other employee benefits | $13,441 |
Payroll taxes | $22,612 |
Fees for services: Management | $0 |
Fees for services: Legal | $2,109 |
Fees for services: Accounting | $91,151 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $78,754 |
Advertising and promotion | $215,621 |
Office expenses | $22,352 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $35,844 |
Travel | $73,965 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $105,592 |
Interest | $172 |
Payments to affiliates | $2,806,039 |
Depreciation, depletion, and amortization | $5,096 |
Insurance | $12,469 |
All other expenses | $15,974 |
Total functional expenses | $4,041,214 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $428,224 |
Savings and temporary cash investments | $983,152 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $490,201 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $16,796 |
Net Land, buildings, and equipment | $6,501 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $57,861 |
Other assets | $0 |
Total assets | $1,982,735 |
Accounts payable and accrued expenses | $550,822 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $21,844 |
Total liabilities | $572,666 |
Net assets without donor restrictions | $1,410,069 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $1,982,735 |