Page 8 - Tree Line - North Carolina Forestry Association - Second Quarter 2023

ANNUAL REPORT 2022
NCFA Annual Meeting
FISCAL YEAR
In order to comply with federal tax codes, the overall budget
of the association is distributed into two distinct accounts
— 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 NC FA
and executes programming.
Within this framework, the NCFA projects 2023 approximate revenues and expenses of $1,100,000 and Year in Review
$1,092,000, respectively, for a net surplus of $8,000. The FECF projects 2023 approximate revenues and expenses of $330,000
THE NORTH CAROLINA FORESTRY ASSOCIATION, THE STATE’S OLDEST FOREST CONSERVATION GROUP, 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 19 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 Future Farmers
of America, 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.
ESTABLISHED IN 1911
NCFA FACTS PRIVATE NON PROFIT PARTNERSHIP
6 ncforestry.org / SECOND QUARTER 2023
NCFA FACTS
and $305,000, respectively, for a net surplus of $25,000. While a financial audit is underway for 2022, early
projections indicate the NCFA incurred a deficit for 2022, while the FECF ended 2022 with a surplus. Investments in the Be Pro Be Proud initiative, a comprehensive governance review,
a carryover balance from the cooperative agreement with the North Carolina Department of Agriculture and Consumer Services, and unrealized losses from the NCFA’s reserve fund account for most of the deficit.
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 each 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 working reserve fund holds enough funds
to run the association successfully for three months in the case of an emergency. The security investment fund is a long-term security investment with a conservative approach.
The FECF is the owner of the office building on Glenwood Avenue in Raleigh. FECF rents space to the NCFA and Adams & Howell Law Firm, which resides on the first floor of the two- story office.
INSURANCE UPDATES
The NCFA’s hunting lease liability insurance program remains one of the top choices among hunt clubs. To participate, the hunt club and landowner must be NCFA members.
In 2022, the association provided coverage for more than 500 hunt clubs and landowners. The total acreage in the program spanned more than 343,000 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.
NCFA FACTS
4,000 MEMBERS