About WHF  |   President's Message Annual Report

Services  |   Conservation Easements Land Management and Endowments Land Stewardship Project Monitoring Ecological Restoration Planning Conservation Education

Objectives  |

Conservation Values  |

Board of Directors  |   Riley Swift Patrick J. Shea, Ph.D. John H. Anderson, D.V.M. William (Bill) Clark Alexander Ferreira Robert Weygandt

Staff Patrick J. Shea, Ph.D. Barbara Rocco Kelly Velasco Natalie Summers Jill Grant Brian Williams

WHF Annual Report

Since our last annual report, the Wildlife Heritage Foundation (WHF) has continued to grow to solidify the organization and further its mission of preserving wildlife habitat for the benefit of future generations. Only a few short years ago, WHF held conservation easements on a little more than 5,000 acres of land. Today, that number has increased to more than 9,500 acres. In December 2005, WHF held 15 conservation easements; in December 2007, we held 40 easements, with the number continuing to grow.

Three short years ago, WHF's endowment funds were $3.5 million; in 2007, they reached more than $11.2 million!

Fund Management

The endowment funds are set aside in individually managed accounts so that WHF can fulfill its duties as conservation stewards of protected properties-to monitor conservation areas, ensure that lands are protected and that there are no violations of restricted activities, provide the necessary reports to the regulatory agencies, and provide educational information about the protected property to homeowners and community associations.

WHF's executive director reviews the performance of each separate fund on a monthly basis and WHF's board of directors oversees and reviews investments of endowment funds at quarterly board meetings. Reputable investment firms such as Edward Jones, UBS Financial Investments, and Merrill Lynch manage the funds, and a certified public accountant reviews the financial records on a regular basis. Over the last year, our funds have realized an average annual gain of more than 6.72%.

WHF Budget

Operating expenses in 2005 were $100,591.00; in 2007, they were $217,894.00. The increase in expenses reflects WHF's tremendous growth and necessary increases in office space and staff in 2007. During that same time period, WHF's income grew from $65,814.00 in 2005 to $237,239.00 in 2007. Much of the increase in income reflects an increase in easement fees contributed and earned income from monitoring and management activities.

Of the total expenses noted above for 2007, $137,730.00 was "administrative costs" such as increased rent; new furniture and equipment; a new computer network system; and increased staff, which increased salaries. From January 2006 through December 2007, administrative income totaled only 4.24% of total income; endowment income was 91.62%, and program income was 4.13%. WHF spent 2.82% of expenses on fundraising even though it received no fundraising income during the 2-year period. Forty-five percent of total expenses was attributed to administrative costs, and 45.8% of total expenses went to program costs, such as monitoring and managing the easement properties. Over the 2-year period, WHF realized more than 100% of budgeted income and held expenses to only 1.18% over budgeted expenses. The chart below lists actual administrative income and expenses, budgeted income and expenses, amount over or under budget, and the percent of budgeted numbers.

		Jan 06-Dec 07 ($)	Budget ($)	$ Over Budget	% of Budget
Income	Earned Income	289,913	181,000	108,913	160.2
	Easement Fee	298,857	160,000	138,857	186.8
	Endowment Fees Contributed	6,973,420	6,266,075	707,345	111.3
	Interest Income	195.54	0	0
	Dividend Income	836,763	212,400	624,363	394
	Realized Gains (Losses)	120.03	0	0
	Unrealized Gains (Losses)	-10,316.40	444,000	-454,316.4	-2.3
Total Income		$8,388,832.14	$7,263,475	$1,125,357.14	101.15%
Expense	Fundraising/Marketing	8,262.51	6,235.00	2,027.51	132.5
	Mileage	6,460.88	9,858.70	-3,397.82	65.5
	Bank Charges	178.00	177.60	0.40	100.2
	Contract Services	185,338	231,972	-46,634	79.9
	Depreciation	907.00
	Dues & Subscriptions	4,712.00	4,430.00	282.00	106.4
	Equipment	14,521.36	43,500.00	-28,978.64	33.4
	Fees & Licenses	594	252	342	235.7
	Insurance	8,399	7,366.00	1,033.00	114
	Internet Fees	1,033.73	4,079.91	-3,046.18	25.3
	Investment Fees	40,031.23	44,000.00	-3,968.77	91.0
	Legal & Accounting	13,007.44	15,600.00	-2,592.56	83.4
	Office Supplies	17,553.23	18,820.00	-1,266.77	93.3
	Postage	1,916.21	2,421.90	-505.69	79.1
	Printing	260.12	1,600.00	-1,339.88	16.3
	Telephone	7,441.09	7,218.99	222.10	103.1
	Training	2,833.23	1,800.00	1,033.23	157.4
	Travel	6,137.43	4,200.00	1,937.43	146.1
Total Expense		$311,323.95	397,922.10	$-86,598.15	0.78
Net Income		$8,077,508.19	$6,865,552.90	$-1,211,955.29	101.18%