Timber

The timberland investment has performed well in fiscal year 2020-2021.

The Foundation timberland holdings consist of 77,486 acres of managed land.  The Foundation’s timberland investment began in the mid-1980’s with the largest acquisition of more than 55,600 acres of the Equitable tract in 1997.

• The timberland investment was valued at $170,290,000, at March 31, 2021.
• Total revenue from the timber assets is more than $3.1 Million for the period from July 1, 2020, through May 31, 2021.
  • Revenue from the sale of timber in that 11-month period was:
    • More than $2.1 Million in clear-cut sales and pay-as-cut clear-cut sales. The Foundation sold timber on more than 1,600 acres in three bid sales and timber on 190 acres in pay-as-cut sales.
    • $432,000 from sale of pine pulpwood in thinning. More than 132,000 tons were thinned from more than 2,900 acres.
  • Revenue from hunt leases added another $494,000 to revenue from the timber asset.
  • Other leases provided an additional $86,000.
• The five-year forecast projected revenue from $2.8 to $2.9 Million generated from clear-cut sales, thinning and hunt leases. The actual revenue is more than $3.1 Million.
• At March 31, 2021, the investment in timberland represents 40.15% of the net assets of the Foundation.
• In the last ten years, the timber asset value has increased from $152 Million to $170,290,000. The asset class is characterized by its low volatility and constancy of value while providing a consistent revenue source.  During that period, more than $29.9 Million was generated from clear-cut sales and thinning, not to include revenue from hunt leases and other sources.
• Plans for the 2021-2022 year are:
  • Clear-cut sales of timber on 1,450 acres;
  • Preparing for planting and planting 2,400 acres;
  • Planting ArborGen seedlings with excellent performance ratings for potential growth; and
  • Leasing more than 75,000 acres for hunting generating revenue of more than $496,000.