Attention all you female singers: you might as well give up right now. Beyonce Knowles has got the race locked up.

Although we’re only 8 months into the current year, Billboard has already declared the “Single Ladies” star their Woman of the Year. In fact, they’ll be presenting her the award in October.

The Grammy winner’s selection was based on a number of factors. In addition to releasing one of the catchiest songs ever (and a successful album overall), the singer-dancer-actress has “inspired the music business with her success, leadership and new ideas.” Knowles has also generously given to the community by offering free concert tickets to financially-strapped families and helping to provide meals through Feeding America.

“Beyoncé is multi-platinum artist and a multi-talented woman who clearly embodies the qualities of excellence and achievement that the Billboard Woman Of The Year Award was created to honor,” said Billboard‘s Editorial Director Bill Werde. “She has not only influenced pop culture with her hit songs and signature dance moves, but has inspired women everywhere with her unique style, business savvy and dedication to charitable causes.”

Previous recipients of the award include Reba McEntire and Ciara.