Page 8 - Tree Line - North Carolina Forestry Association - Second Quarter 2022

ANNUAL REPORT 2021
NCFA
Year in Review
The North Carolina Forestry Association enjoyed another successful year thanks to the leadership and participation of its membership. The NCFA ended the year with more than 4,000 members segmented into 18 membership categories.
In addition, positive partnerships with like- minded organizations continue to give our rural economies a boost as we collectively raise the profile of forest conservation and the role the forest products industry plays in supporting agriculture in North Carolina. Partners
include the Carolina Loggers Association, North Carolina Farm Bureau, North Carolina Department of Agriculture, North Carolina Forest Service, North Carolina State University, and the North Carolina Tree Farm Program.
On the legislative front, the NCFA and its partners worked diligently with the North Carolina General Assembly on a few legislative initiatives that would have been detrimental
to the goal of healthy and productive forests for North Carolina. We appreciate our membership’s willingness to engage in
the political process by contacting their elected officials.
Fiscal Year
The overall budget of the association is distributed into two distinct accounts in order to comply with federal tax codes — the NCFA and the Forest Education and Conservation Foundation (FECF). The FECF is the vehicle in which the association can collect and distribute grant funds for education and training programs. The association is the entity that plans and executes programming.
Within this framework, the NCFA projects 2021 approximate revenues and expenses of $973,000 and $796,000, respectively, for a net surplus of $177,000. The FECF projects 2021 approximate revenues and expenses of $321,000 and $230,000, respectively, for a net surplus of $91,000. While a thorough financial review is underway for 2021, early projections point to another positive year where the association will be able to add to its reserve funds. The overall budget for both accounts is under the supervision of the NCFA’s Executive Committee and approved annually by the NCFA’s Board of Directors at the first meeting of
a new year. A third party audits the financials for both the NCFA and FECF annually. These reports are completed for the May or June board meeting.
The association has successfully operated within its budget over the past 20 years. In many of those years, the association realized
a budget surplus at the end of the fiscal year due to a combination of fiscal efficiencies within the daily operations of the NCFA, staff turnover, and an improving economy. These monies have been distributed into a working reserve fund and another long-term security fund. The working reserve fund holds enough funds to successfully run the association for three months in the case of an emergency. The security investment fund is invested in long-term securities with a conservative approach.
The FECF is the owner of the office building on Glenwood Avenue in Raleigh. The FECF rents space to the NCFA and Adams & Howell Law Firm, which resides on the first floor of the two- story office.
Insurance Updates
In recent years, the competition to provide hunt club insurance has become livelier as different agencies have entered the marketplace. However, the NCFA’s Hunting Lease Liability Insurance program remains one of the top choices among clubs. To participate, the hunt club and landowner must be NCFA members.
In 2021, the association provided coverage for more than 614 hunt clubs and more than 918 landowners. The total acreage in the program spanned more than 347,925 acres.
The policy runs annually from August 1 to August 1. Since hunting season start times vary by species, hunt clubs sign up continuously during a given year.
ESTABLISHED
PRIVATE
FIRST &
ONLY
LOGGER SAFETY TRAINING PROGRAM IN NC
NC’S
OLDEST
FOREST CONSERVATION ORGANIZATION
1911 NON 4,000 PROFIT
MEMBERS
6 ncforestry.org / SECOND QUARTER 2022
PARTNERSHIP
NCFA FACTS