Although expenses did exceed income for Friends of Dragon Run in 2007, the organization had been planning ahead for a significant real estate purchase expenditure during the year and increased the value of its holdings by significantly more than its expenses exceeded income.

Our gross income for 2007 was $206,050.64. We began the year as owners of 301.25 acres of conservation property and ended the year with 466.70 acres.

Although we spent almost $45,000 of our capital to add 165.45 acres to our holdings, the Virginia Land Conservation Foundation grant we acquired in 2006 carried most of the purchase burden allowing us to spend only about $272.00 of our donor-provided cash for every acre protected through ownership.

In 2007, as in almost every year of our existence, our membership provided significant support for our conservation activities by donating more than $25,000 to the Land Purchase Fund Drive. We look forward to that continued support in 2008, as we pursue the Dragon Run Conservation Corridor Initiative by adding another 120.732 acres to our owned conservation property.

A more satisfying figure than income vs. expenses in a single year, for our members to consider, is the amount of net worth that our organization grew in 2007. That figure, representing year over year growth in 2007 as compared to 2006, was $248,598.87.

Now for our routine operations. Our board approved an operating budget for income for the year, excluding grants, of $10,800, and for expenses for the year of $9,490. Actual operating Income, excluding grants and the fund drive, was $13,042.64. Operating expenses, excluding those same grants and real estate purchases, amounted to $10,957.12.

Following are some of the costs which our members’ dues defrayed throughout 2007: postage, $905.70; printing, $3,473.41; office supplies, $412.28; insurance, $1,674.00; real estate taxes, $1,714.71; LTA dues, $225.00; regulatory fees, $109.00; fundraising expenses (printing), $465.07.

Readers who have specific questions, or who would like to review our income, expense or balance sheets should contact the treasurer with their request.

In summary, FODR spent about $10,000 more than it received during 2007, reducing its capital by that amount; but the organization actually increased its net worth by $248,598.87!

We think that accrues to a successful year for 2007, and hope to continue our successes in 2008. -

FUND DRIVE UPDATE:
Teta Kain reports that as of April 1 we have contributions totaling slightly less than $36,000 toward our fund raising effort. If you have not as yet made a tax-deductible donation, please consider doing so. Your friends and neighbors may also wish to participate in this worthy endeavor, so why not ask them? -