MIRAND REIMAN:

Foresight by past leadership helps explain the strong financial position the American Angus Association is in today. That's according to Jim Brinkley, Milan, Missouri, who just wrapped up his year as treasurer of the Association. We sat down with Brinkley, who is the recently elected vice chairman of the board to recap the recent fiscal year.

REIMAN: 

Jim, we've had a great week in Fort Worth, haven't we? 

BRINKLEY: 

Oh, a wonderful week, great attendance. I think attendance was up 12, 13, 1,400 people and it's just been a great week, great interaction with delegates and members and it was just an awesome week. 

REIMAN: 

And as we wrap up Angus Convention here, we always turn to our convention of delegates and we get a good update on what the fiscal year kind of wrapped up. And you just wrapped up a term as the treasurer, so I wanted to talk to you a little bit about the financial standing of the association. So maybe just give us an update on how we sit at the end of the fiscal year. 

BRINKLEY: 

Sure. So tremendous year, tremendous year. I've been on the board six years. This is by far the best year we've ever had and the Association had a great year, made over $4.1 million, and the investment portfolio contributed around $8 million, so with a total profit for the year of $12.6 million. Just incredible year. 

REIMAN:   

And we lived through a few years there where of course the markets weren't doing as well, but we take a conservative investment strategy. Talk about why it's so important to have those investments for the Association to be able to rely on and years where maybe it doesn't perform as well. 

BRINKLEY: 

Sure, sure. That investment portfolio is set aside for future endeavors to reinvest back into programs needed for whichever entity, whether it's CAB, whether it's AGI or whoever. That is there for the benefit of membership. We can tap into that revenue and provide education, whether it's for youth or whatever. So it's important that we have it. 

REIMAN: 

Absolutely. It allows us some flexibility as we look to the future and investing in the future. Some people might look at that strong bottom line and think, 'Boy, that sounds like a lot of money,' but why is it important for an association to be in strong financial footing? 

BRINKLEY: 

Well, you certainly, in '22, we lose about $15 million and most of that, all of it would've been from the investment portfolio, but it's important to have that nest egg to lean on when we need it. And I just want to compliment staff previous boards. I mean, for the foresight to have that, to provide that for membership. I just can't say enough how great that has been to be able to leverage whenever you need it. 

REIMAN: 

Another thing that I keyed in on was that that also came at a time that we had a reduction in expenses over the past year. 

BRINKLEY: 

Absolutely. Expenses was down 3%, which is everything we do as a board, as the association. We keep in mind the bottom line, and we definitely have that at the forefront, and it's very important that we continue to watch that bottom line. 

REIMAN: 

As you look forward to the year ahead, is there anything else you'd like the membership to know? 

BRINKLEY: 

No, I don't think previous boards and staff has gotten enough credit for the path they've laid out for membership today. I mean, to have that portfolio to leverage to work for membership, it's been incredible. And previous boards, previous staff, I can't think 'em enough because it's certainly a huge, huge asset to be able to leverage. 

REIMAN: 

Absolutely. Well, thank you so much for your leadership in the past and looking forward to seeing what you guys do this year.  BRINKLEY:  Well, thank you. Appreciate it. 

REIMAN: 

You can find full coverage from Angus Convention online or pick up your January edition of the magazine to see it all in print.