The Foundation timberland investment consists of 77,487 acres.
The timberland investment was valued at $173,340,000 at December 31, 2022. Timber investment represents 44.95% 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 $2.5 million through February 2023: The revenue is comprised of:
- Clear-cut sales of 998 acres and pay-as-cut sales on 700 acres ($1,800,000);
- Thinning on more than 1,300 acres (approximately $200,000);
- 105 hunt leases leasing more than 76,000 acres ($521,000);
- Other lease 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 2022. The acres were hand-planted with ArborGen Mass Control Pollinated seedlings with high performance scores in volume, straightness, resistance to rust disease, and lack of forking.
- Plans are underway for site preparation of 1,300 acres to be planted in December 2023.
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 total revenue to date is more than $2.5 million, with one additional clear-cut sale of 625 acres in the spring of 2023, plus thinning, planned.
- The Foundation successfully planted 1,204 acres with excellent pine loblolly and slash pine seedlings.
Total revenue from the sale of timber since the beginning of the Foundation’s timber operations has been more than $160,000,000.