The Foundation timberland investment consists of 77,487 acres.
The timberland investment was valued at $173,590,000, at March 31, 2023. Timber investment represents 43.38% 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 $3.4 Million through February 2023: The revenue is comprised of:
- Clear-cut sales of 1,497 acres and pay-as-cut sales on 700 acres ($2,600,000);
- Thinning on more than 1,500 acres (approximately $238,000);
- 105 hunt leases leasing more than 76,000 acres ($521,000);
- Other lease revenue ($41,000).
- Site preparation of 1,500 acres for planting, using both burning and spraying, as well as bedding, has begun for planting in December 2023.
Comparison with the timber plan and projections for fiscal year 2023:
- For the fiscal year 2023, revenue was projected to be $2.9 Million from the timber investment, and total revenue to date is more than $3.4 Million.
- 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 $161,600,000.