What is RAFI?
Red Angus Foundation, Inc. exists to enhance our breed’s position within the beef industry and help secure long-term sustainable breed growth. Achievement of this purpose requires the development of tomorrow’s industry leaders, harnessing the best peer reviewed science and technology, and seeking opportunities to improve education and communication among Red Angus stakeholders. The Foundation was started at the 2010 RAAA National Convention in Springfield, Missouri.
RAFI was organized under IRS code 501©(3), and therefore can receive tax deductible contributions. RAFI is comprised of three separate funds, and contributors may specify which they wish to support.
The Junior Fund
is a restricted fund; disbursements from which must support the Junior Red Angus Association’s annual budget and other approved Red Angus youth activities.
The “Sal Forbes” Research and Development Fund
is another restricted fund. Named for RAAA’s first Executive Secretary and founding member, Sal Forbes, this fund grew out of donations to have Sal honored as both the first Red Angus breeder and first woman in the livestock industry to have their portrait hung in the Saddle and Sirloin Club.
The General Fund
is a non-restricted fund; disbursements from this fund may be used for any purpose which the Foundation board of directors deems important in advancing the Red Angus breed.
“…to provide support that enhances the Red Angus breed and its stakeholders through investments in leadership development, scientific research and educational opportunities.”
The Foundation board met in Springfield and established a goal of $1 million by the end of 2013. Red Angus believers showed their faith in the breed through generous donations of items that were auctioned, aggressive bidding for those items, as well as pledges of financial gifts. RAFI left Springfield with the Foundation already 25% of the way towards that goal.
The Joint Finance and Investment Committee will have responsibility for investment of funds, and is obligated to follow guidelines established in the Joint Investment Policy as approved by the Board of Directors of both RAAA and RAFI.