The Foundation timberland investment consists of 77,487 acres.
The timberland investment was valued at $174,140,000 at September 30, 2022. Timber investment represents 46.3% of the net assets of the Foundation. Timber is an asset that exhibits constancy of value, low volatility, and a manageable cash flow.
Timber activities in fiscal year 2023 include:
- Revenue from the timber investment of more than $2.3 million at November 30, 2022: The revenue is comprised of:
- Clear-cut sales of 998 acres and pay-as-cut sales on 700 acres (1.7 million);
- Thinning on slightly less than 1,000 acres ($124,000);
- 105 hunt leases leasing more than 76,000 acres ($521,000);
- Other less revenue ($41,000).
- Site preparation of 1,204 acres for planting, using both burning and spraying, as well as bedding, was completed in the Fall of 2022 for planting in December, 2022.
- 1,204 acres were planted in the first two weeks of December. The acres were hand-planted with ArborGen Mass Control Pollinated seedlings with high performance scores in volume, straightness, resistance to rust disease, lack of forking.
Comparison with the timber plan and projections for fiscal year 2023:
- For the fiscal year 2023, revenue is projected to be $2.9 million from the timber investment, and revenue to date is more than $2.3 million, with one additional clear-cut sale of 650 acres in the spring of 2023 plus thinning. It is expected that the revenue projection will be met. The hunt leases for this year were in excess of projections with the Foundation leasing almost all available leasable timberland with total revenue over $521,000, in excess of projections.
- The Foundation successfully planted 1,204 acres planted with excellent pine loblolly and slash pine seedling.
Total revenue from the sale of timber since the beginning of the Foundation’s timber operations has been $160,609,328.