Annual Report

THE CONSERVATION FUND IS DEDICATED TO PROTECTING THE MOST VITAL LANDS AND WATERS ACROSS AMERICA. Through ingenuity and persistence, we create solutions that provide environmental, economic, cultural and climate benefits for both people and nature.

With capital that cycles from one project to the next via our Revolving Fund, we secure priority properties and work with local partners to create outcomes that benefit both communities and wildlife. This sensible approach is how we’ve remained America’s leader in land protection since 1985, conserving more than 8.9 million acres of land valued at $8 billion for $6 billion. Our expertise in practical financing has saved Americans $2 billion, while supporting green jobs and strengthening communities.

Yet the challenges we face are enormous — rapid loss of biodiversity; intensifying climate change impacts; and increasing demands for food, housing, jobs and renewable energy. Addressing these issues requires foresight, expertise and action to balance society’s needs while protecting ecological integrity. We must act now to preserve the natural landscapes that clean our air and water, support millions of green jobs and provide some of the most effective, large-scale carbon removal. Conservation is the key to a thriving future.

To create a better tomorrow, we are rapidly expanding our land protection efforts and seeking motivated funding partners to accelerate our ability to conserve the places that matter most. This growth is already underway. In 2022 we completed 134 conservation projects in 35 states. Those projects:

Preserve indispensable wildlife habitat.
Expand access to nature.
Restore lands to Native and Indigenous people.
Protect threatened Black history sites.
Support the next generation of farmers.
Ensure working forests can continue to provide critical climate and ecological benefits as well as economic opportunities in rural America.

We can only execute on these unique and complicated projects by having the most qualified and professional land transaction staff in the industry. Moreover, the outstanding outcomes featured in this report are possible thanks to your trust, support and partnership.

Together, we can create sustainable and lasting solutions to combat climate change by protecting critical habitats that sequester carbon, building community resilience to extreme weather events and helping people and wildlife adapt to a changing climate. Everything we do now determines our future vitality.

Daniel R. Tishman, Chair
Lawrence A. Selzer, President and CEO

Each project we complete — from securing an ecologically diverse landscape to uplifting a community with an innovative nature-based solution — creates a brighter future. And each year The Conservation Fund takes on bigger, more complex conservation challenges. Our tremendous outcomes in 2022 are a testament to the passion and expertise of our staff, together with our business-savvy, agile and collaborative approach. The ability to achieve this significant scale of mission impact on a financially sustainable basis year after year is the realization of the deep trust we have established with our agency, corporate, private, tribal, foundation and community partners. We have the prowess to turn a shared vision for conservation of the lands and waters we depend on into reality.

Yet the need for environmental protection grows exponentially with the impacts of climate change and the surging demand for life-sustaining natural resources. We are dedicated to addressing these challenges by multiplying our Revolving Fund of capital for land acquisition via traditional philanthropic support and new impact capital initiatives that will accelerate our ability to purchase priority habitats and working lands at the speed required in a competitive real estate market.

As we embark on new funding initiatives, our partners can benefit from our proven model and track record for implementing authentic, tangible and lasting conservation outcomes on nearly 9 million acres across the U.S. Put simply, we achieve what we set out to do by integrating both nature- and people-centric strategies.

Your support fuels conservation that safeguards biodiversity, creates more resilient communities, supports the next generation of farmers and foresters and helps mitigate climate change. Thank you for joining us on this journey, and I hope you’ll continue down this path with us in the year ahead.

John Gilbert, Executive Vice President, CFO

Combined Statement of Activities
And Change In Net Assets

For the year ended December 31, 2022.

Real estate activities	2022 Total
Sales of conservation land to others	203,308
Contributions and grants	49,463
Contributed professional services	323
Investment and other program income	12,596
Contract income	16,034
Land contributed for conservation	9,546
Total real estate activities	$291,270

Non-real estate activities	2022 Total
Contributions and grants	14,211
Contributed professional services	3,134
Investment and other program income	5,818
Contract income	1,547
Total non-real estate activities	$24,710

Total support and revenue

$315,980

Expenses	2022 Total
Real estate program expense	286,227
Non-real estate program expense	16,709
Management and general	6,419
Fundraising	4,186

Total Expenses

$313,541

Change in Net Assets	$2,439
Net Assets, End of Year	$503,775

Sources of Funds - 2022

(In Thousands)

Land sales	203,320
Foundation contributions	25,944
Other Contributions and income	9,462
Individual contributions	14,384
Corporate contributions and mitigation	24,850
Carbon/Timber/Contract	18,911
Federal grants	4,220
Land gifts	9,546
State grants	5,343

Uses of Funds - 2022

(In Thousands)

Real estate program expense	286,227
Non-real estate program expense	16,709
Management and general	6,419
Fundraising	4,186

Leadership

Board of Directors

BOARD CHAIR

Daniel R. Tishman
New York

BOARD VICE CHAIR

Paul E. Hagen
District of Columbia

PRESIDENT AND CEO

Lawrence A. Selzer
Virginia

Julie G. Barker
Massachusetts

Gregory A. Beard
New York

David P. Bozeman
Michigan

Dr. Ingrid C. Burke
Connecticut

Todd J. Carter
California

J. Storey Charbonnet
Louisiana

Charles R. Cherington
Massachusetts

Kimberlee R. Cornett
Maryland

Luis de la Garza
Texas

Jennifer L. Hernandez
California

G. Wilson Hughes
Alaska

Shameek Konar
Tennessee

Dr. Jill L. Long Thompson
Indiana

Thrus Morton
North Carolina

Kevyn D. Orr
District of Columbia

C. Porter Schutt III
Delaware

Jay F. Wagley
Texas

James M. Whitehurst
North Carolina

CHAIR EMERITUS

Patrick F. Noonan
Maryland