Fiscal year July 1, 2017-June 30, 2018
The Eagle Creek fire in September 2017 prompted an outpouring of generosity to support Friends of the Columbia Gorge. Those donations and the acquisition of the final property in the Preserve the Wonder campaign were major factors in our net assets rising to $21.6 million for the fiscal year ending June 30, 2018.
Consolidated results in fiscal year 2017-18 have operating income increasing to $2.11 million, up from $1.39 million and operating expenses increasing to $2.26 million from $2.09 million the previous year. The planned shortfall between income and expenses was made up from a staged release of funds from an unrestricted bequest and our annual draw of no more than 5 percent from our endowments. In addition to operating income, $2.27 million was raised for the Preserve the Wonder campaign, adding to the organizational income for the year of $4.53 million.
Although some lands owned by Friends of the Columbia Gorge Land Trust are eligible for property tax exemption, we paid $52,000 in property taxes to support local communities and schools.
Our $5.8 million endowments include the Marjorie Abramovitz Fund for land trust activities and the Vic Clausen Fund for outdoor youth education. Endowment funds for general operations include the Conservation Director Endowment, the Mary D. and Thomas W. Holman Fund, the Nancy Russell Fund, and the Barbara Pooley Wilson Fund.
Endowment funds are managed by Ferguson Wellman Capital Management and monitored by Friends’ board finance committee.
Friends' Accountability and Transparency
Fire Response and Recovery Initiative