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American Egg Board Releases 2022 Financial Report

05/22/2023

For Fiscal Year 2022, the American Egg Board posted revenue of $23.04 million of which 98.5 percent was derived from check-off assessments.  Total program expenses exceeded income by $340,000 or 1.5 percent of program expenditure. The various programs, the names of which are ‘cutesified’, include:-

 

  • Egg’s Story represented 44.9 percent of expenditures
  • Spark Innovation, 21.9 percent,
  • Check-Off Awareness, 12.4 percent,
  • Farmer’s Story, 11.1 percent,
  • Consumer Insight, 7.8 percent
  • Operational Excellence, 1.9 percent.

 

In future years, the American Egg Board should consider reverting to straightforward nomenclature identifying expenditures using conventional and familiar terms such as consumer promotion, industry outreach, research and development so that there is common understanding and the ability to compare with previous years.

Total administrative expenses amounted to $421,206 or 1.8 percent of total revenue representing careful control of industry funds. This amount obviously does not include the quantum of salaries that should be a line item as in any non-profit. From recent press releases confirming appointments this expenditure category will be considerably higher in FY 2023

 

Previously the AEB presented data derived by a commissioned consultant demonstrating the benefit to cost ratio for promotional expenditures and other activities undertaken by the Board.  The most reliable indicator of the value of activities is the domestic per capita increase in egg consumption that reflects consumer and industrial demand for shell eggs and egg products.  Numbers of impressions and engagements, social media activities and data on public perceptions demonstrate that the expanding staff of the AEB is active on behalf of the industry. Over the intermediate term the actual increase in egg consumption as quantified by the USDA-ERS is the critical parameter representing value from the check-off program.