The Houston Livestock Show and Rodeo is a Section 501(c)(3) charity that benefits youth, supports education, and facilitates better agricultural practices through exhibitions and presentation. Since its beginning in 1932, the Houston Livestock Show and Rodeo has committed more than $400 million to scholarships, research, endowments, calf scramble participants, junior show exhibitors, School Art participants, and other educational youth programs. MISSION STATEMENT The Houston Livestock Show and Rodeo» was organized for charitable, educational and scientific purposes to encourage and promote the breeding, raising and marketing of better livestock and farm products at public fairs and to promote and maintain research and educational functions within the livestock industry. It is the general policy of the Show to utilize, in the fiscal year subsequent to which it is earned, the excess of its revenue over expenses for the furtherance of its exempt purpose, including the granting and/or funding of scholarships, educational endowments, agricultural research projects and other similar programs and the funding of related capital additions and improvements. The funds of the Houston Livestock Show and Rodeo are used exclusively to meet necessary expenses for its upkeep and operation and in furtherance of the exempt purpose of the organization.