2021

Annual

Financial Report

 Thanks to our members, friends, and our exceptionally supportive community

 

Thanks to our members, friends, and our exceptionally supportive community, 2021 was another year in which the Licking Land Trust thrived on many fronts. The Trust tells the story of its mission and activities through newsletters, its website, and in-person events. The organization’s financial status and achievements are conveyed annually in its Annual Report, presented here for fiscal year 2021.

The Trust’s total income for 2021 was $87,861. Among these revenues, the largest source of income was dues and related gifts from the organization’s many members, amounting to $33,610 (38.3% of total income). Other miscellaneous gifts and grants added $5,942 (6.8% of income), and the Trust received a large transaction fee of $3,800 that was allocated to the Stewardship and Legal Defense Funds (4.3%). Two major fundraising initiatives (Farm-to-Fork and a raffle) raised a total of $26,489 (30.2% of total revenue). And finally, the Trust’s investments continued to perform well in a favorable market, yielding interest, dividends, and realized gains of $18,019 (20.5%) of total income.

On the expense side, a total of $49,712 was expended among the following categories, each of which includes prorated staff time:  Mission-related programs, including conservation, education, and engagement with other environmental organizations, amounted to $14,067, or about 28.3% of total expense. Office and administrative expenses, which are largely fixed costs, totaled $22,258 (44.8% of total expense). Membership communications and development costs, which are heavily staff time, were $4,542 (or about 9.1% of total), and investment management outlay was $1,288 (2.6% of total expense). Finally, expenses associated with the Trust's primary fundraiser, Farm to Fork, were $7,557 (or 15.2% of total), an outlay that netted the Trust $17,808 from the fundraiser.

The Licking Land Trust's total assets at year-end 2020 were $766,343, exceeding the 2020 year-end asset balance by 8.25%.

The financial statements of the Licking Land Trust are compiled on a monthly basis and reviewed by the Board's Finance Committee, which forwards approved reports to the full Board for its members' review and approval. The Finance Committee provides guidance to the Treasurer and recommendations to the Board concerning operating budget, investments, reporting, and other financial matters. The Trust's annual external financial compilation and its 990 federal tax form are overseen by C.P.A. Matthew J. Bagent of the firm of Dixon, Davis, Bagent & Co. of Granville, Ohio. These documents are available for review upon request.