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FAQ: B.E.E.F. Foundation for the Future Campaign

 

1) What is the Beefmaster Educational Endowment Foundation [B.E.E.F]?

Established in 2009, as a tax-exempt corporation, B.E.E.F., serves as the official education and scientific research affiliate of Beefmaster Breeders United [BBU].  It accomplishes this through scientific research and both public and industry education of the benefits of the Beefmaster breed as a superior meat product animal.

 

2) How does the foundation differ from Beefmaster Breeders United [BBU]?

While BBU serves as the official trade association of the Beefmaster breed in providing a variety of membership benefits and representing the breed regionally, nationally and internationally — B.E.E.F., serves as the breeds education and scientific research affiliate. All donations to the Foundation are 100% tax-deductible as provided by law.

 

3) How is the foundation governed?

The foundation currently has six elected volunteer BBU members on its Board of Directors via national regional elections.  As the foundation grows and in accordance with the foundation’s by-laws the board will be expanding its membership to better represent its national and corporate donor base.

 

4) What is the focus of the foundation?

Two-fold: (1) Scientific research to provide sustainable and credible data on the benefits of the breed, and (2) education of the industry’s leadership, BBU members and the general public of the benefits of the breed. In addition, continued support of youth scholarships, BBU youth and JBBA.

 

5)  What is the goal of the “Foundation for the Future Campaign”?

To establish an initial multi-million endowment corpus which will remain inviolate and from which the foundation will utilize the earnings from the corpus investments to fund identified and appropriate research and educational initiatives. It will accomplish this through both immediate cash investments and pledges which may be paid over a 5-year period.

 

6) What is the amount raised to date?

We are very pleased to announce, that with the campaign just having recently been publicly launched, over $1,000,000 has been raised through direct contributions and secured pledges within a five-year period.

 

7)  Why give to the foundation?

1)  To provide a secure and permanent financial base for B.E.E.F.

2)  Enable the foundation to fund viable, useable, proven scientific data favorable to the breed & provide information to the public and BBU members on its benefits.

3)  Eliminate the need for total dependency on annual and unpredictable fundraising.

4)  Giving something back to the breed

5)  Leaving a legacy for future generations.

6)  Investment support is 100% tax-deductible.

 

8)  Are contributions tax deductible?

Yes. The foundation has been designated a 501(c)(3) corporation. Anything of value may be donated with full tax-deducible IRS credit as provided by law.

 

9)  Do pledges have to be paid all at once?

No. Pledges may be paid within a 5-year period.

 

10) How are contributions recognized?

All contributions are recognized in accordance with the level of amount of the donation.

Contributions/pledges in the amount of $25,000 & up are designated special recognition as Founding Members of the foundation’s Legacy Society with numerous recognition benefits as indicated in the Campaign Prospectus.

 

11) What portion of the donations will be spent on administration costs to run the foundation?

The foundation serves primarily as a funding mechanism, while engaging major research universities and professionals in accomplishing its goals. Thus, eliminating the need for extensive administration cost and allowing the monies to go to results. On the recommendation of the Endowment Investment Committee, the B.E.E.F., Board of  Directors has chosen to commit 100% of endowment monies to the lasting endowment.

 

12) How will the endowment be invested and what will be the return?

All contribution monies will be invested in secured conservative investment accounts overseen by the Investment Committee comprised of qualified members of BBU and managed by professional investment managers.

 

13)  When can I expect to see programs being funded?

Programs are already being funded and completed such as the recently announced Development of Beefmaster GE-EPDs to help build a diverse panel of Beefmaster genetics to be the foundation for the calculation of the GE-EPDs. We will see   additional program funding as monies are donated and invested with full funding once all pledges are fulfilled within a 5 year period.

 

14)  What is the process to get programs funded?

A formal Funding Request with prescribed details must be submitted to the foundation’s Program Committee who will evaluate the request and make recommendations to the Board of Directors for consideration. The foundation will work with BBU staff in evaluating  the appropriateness and value of the request as it applies to the mission and goals of the Foundation and BBU.

 

15)  How can I get further information on the foundation?

Contact any member of the National Campaign Committee, B.E.E.F, Board of Directors  or BBU Senior Staff.  Also,

Roger Fuller

Campaign Finance Director

1955 CR  106

Paige, TX  78659-4210

[P] 512-659-5428 [F] 888-870-2404 [E-mail]: rfuller2316@gmail.com

 

Receive Free Campaign Prospectus by contacting:

Sarah Davis

BBU Staff Campaign Coordinator

“Foundation for the Future Endowment Campaign”

118 W. Bandera Rd.

Boerne, TX  78006

sdavis@beefmasters.org |  210-732-3132

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