2024-05-14T08:41:44-05:00 2023-06-30 135565207 KPMG LLP 500 W 5TH ST STE 800 WINSTONSALEM NC 27101 990 2022-07-01 363330394 WETLANDS AMERICA TRUST INC WETL 9017583825 1 WATERFOWL WAY MEMPHIS TN 38120 DARIN BLUNCK CHIEF FINANCIAL OFFICER 9017583825 2024-05-13 1 DARIN BLUNCK 999009999 0 WHITNEY B HEBRON P01226647 3362753394 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DARIN BLUNCK 1 WATERFOWL WAY MEMPHIS TN 38120 35455483 0 X WWW.DUCKS.ORG X 1985 DC WETLANDS AMERICA TRUST, INC. WAS FORMED TO SUPPPORT DUCKS UNLIMITED, INC'S (EIN 13-5643799) MISSION TO PROVIDE LEADERSHIP IN THE PROTECTION OF THE NATURAL BALANCE OF WETLANDS. 7 6 0 58 -1177 0 4317011 13806571 0 0 762634 820447 0 0 5079645 14627018 365104 839064 0 0 0 0 0 0 354 2938029 11970236 3303133 12809300 1776512 1817718 176072793 177145372 91644424 89882206 84428369 87263166 X WETLANDS AMERICA TRUST, INC. (THE TRUST) IS A NONPROFIT ORGANIZATION FORMED IN 1985 TO EXPAND DUCKS UNLIMITED, INC'S (DU'S) MISSION TO PROVIDE LEADERSHIP IN THE PROTECTION OF THE NATURAL BALANCE OF WETLANDS ECOSYSTEMS ENSURING THE FUTURE VIABILITY OF WATERFOWL AND OTHER WETLAND WILDLIFE IN NORTH AMERICA. THE TRUST OPERATES EXCLUSIVELY FOR THE BENEFIT OF DU AND COMPLIMENTS DU'S DOMESTIC HABITAT PROGRAMS IN HARMONY WITH DU'S CONSERVATION PRIORITIES. THE TRUST IS ALSO A FIDUCIARY FOR DU AND MANAGES ENDOWMENTS AND REVOLVING FUNDS. DU IS THE SOLE MEMBER OF THE TRUST. 0 0 10310314 839064 PERPETUAL CONSERVATION EASEMENTS ARE SECURED ON WETLANDS AND ASSOCIATED UPLAND HABITATS IMPORTANT TO SUSTAINING NORTH AMERICAN WATERFOWL POPULATIONS. WETLANDS AMERICA TRUST, INC.'S EASEMENTS ARE DESIGNED PRIMARILY TO MAINTAIN OPEN SPACE BY LIMITING SUBDIVISION AND STRUCTURE CREATION AND TO PREVENT DETRIMENTAL LAND-USE CONVERSION OF HABITAT ECOLOGICALLY SIGNIFICANT TO WATERFOWL. DUCKS UNLIMITED INC. AND WETLANDS AMERICAS TRUST, INC. ENFORCE AND ANNUALLY MONITOR THE TERMS OF EACH EASEMENT TO ENSURE THAT SECURED CONSERVATION VALUES ARE MAINTAINED IN PERPETUITY. 2301833 -225151 IN ADDITION TO SECURING CONSERVATION EASEMENTS, A PORTFOLIO OF FEE-TITLE PROPERTIES IS ALSO MAINTAINED. GENERALLY, WETLANDS AMERICA TRUST, INC.'S LAND ACQUISITION STRATEGY SERVES TO PROTECT IMPORTANT WATERFOWL HABITAT UNDER IMMINENT THREAT OF DETRIMENTAL LAND-USE CONVERSION WHEN CONSERVATION EASEMENTS ARE NOT AN OPTION. ONCE ACQUIRED, WATERFOWL HABITAT ON THE PROPERTY IS RESTORED AND REHABILITATED. AFTER NECESSARY RESTORATIONS ARE COMPLETE, PROPERTIES ARE DISPOSED TO PUBLIC AGENCIES OR CONSERVATION BUYERS AFTER PROPER STEPS HAVE BEEN MADE TO ENSURE PERPETUAL PROTECTION OF THE PROPERTIES' CONSERVATION VALUES. 12612147 1 1 0 0 0 0 1 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 AL AR CA GA IL KS KY MA MD MI MN MS NC ND NJ NY OK OR PA SC TN VA X X DARIN BLUNCK ASSISTANT TREASURER 9017583825 1 WATERFOWL WAY MEMPHIS TN 38120 ADAM PUTNAM TRUSTEE 5.00 41.00 X 0 622094 40805 KAREN WALDROP DIRECTOR 1.00 40.00 X 0 297385 44350 STEVE MARITZ PRESIDENT, DIRECTOR 10.00 5.00 X X 0 0 0 DOUG OBERHELMAN VICE CHAIRMAN, DIRECTOR 5.00 0.00 X X 0 0 0 WENDELL W WEAKLEY SECRETARY/TREASURER, DIRECTOR 1.00 5.00 X X 0 0 0 JOE SIVEWRIGHT DIRECTOR 5.00 0.00 X 0 0 0 JOHN W THOMPSON VICE CHAIRMAN, DIRECTOR 5.00 0.00 X X 0 0 0 JOHN A TOMKE DIRECTOR 5.00 6.00 X 0 0 0 DANIEL THIEL CHIEF OPERATING OFFICER 20.00 21.00 X 0 323460 48532 DARIN BLUNCK ASST. TREASURER 1.00 40.00 X 0 286923 50969 DAVID MARRONE ASST. SECRETARY 1.00 40.00 X 0 260189 47840 0 1790051 232496 0 0 1 0 0 1994717 11811854 9881250 13806571 388392 -1177 389569 3701258 17559262 3044052 17784413 657206 -225151 432055 -225151 657206 14627018 -225151 -1177 1046775 839064 839064 17859 17505 354 105854 105854 73440 73440 CONSERVATION EASEMENTS 9471250 9471250 OTHER CONSERVATION 2301833 2301833 12809300 12612147 196799 354 2396234 748637 99914 92167235 96266150 92167235 76525953 83369839 235030 235030 649426 524717 176072793 177145372 185152 5608950 7996005 16970245 520750 68880077 81365451 91644424 89882206 X 62304591 64875226 22123778 22387940 84428369 87263166 176072793 177145372 1817718 1017079 0 X 0 1 X 1 0 X X 1 DUCKS UNLIMITED INC 135643799 7 1 839064 0 1 839064 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 600 487920.00 0 0 0 32 1 1645.00 369838 19650401 2006683 839064 20818020 22488234 -2472729 365104 19650401 17929410 5161415 602591 22488234 18790276 562809 1423675 17929410 18012129 1511790 733643 18790276 0.54430 0.21490 0.24080 0 0 92167235 92167235 92167235 DUE TO DUCKS UNLIMITED, INC. 81238298 OTHER LIABILITIES 127153 81365451 X PART II, LINE 9: NOTE 2(M) OF THE DUCKS UNLIMITED, INC. AND AFFILIATES AUDITED FINANCIALS STATES: CONSERVATION EASEMENTS REPRESENT RIGHTS TO RESTRICT THE USE, ACCESS, AND DEVELOPMENT OF CERTAIN PROPERTIES. SUPPORT WITHOUT DONOR RESTRICTIONS AND EXPENSES ARE RECOGNIZED IN EQUAL AMOUNTS DURING THE PERIOD THE EASEMENT IS SECURED BASED UPON THE APPRAISED VALUE OF THE EASEMENT. WAT IS OBLIGATED TO MONITOR EASEMENTS TO ENSURE THAT THE RESTRICTIONS ARE MAINTAINED. THE ESTIMATED FAIR VALUE OF EASEMENTS IS NOT INCLUDED IN THE ACCOMPANYING BALANCE SHEETS BECAUSE THE EASEMENTS DO NOT REPRESENT A FUTURE ECONOMIC BENEFIT TO WAT. PART V, LINE 4: THE CURRENT FUND BALANCES SUPPORT PROGRAM WORK IN MONITORING EASEMENTS, LAND ACQUISITIONS, WETLANDS RESTORATION AND RESEARCH. DUCKS UNLIMITED WILL WORK WITH PROSPECTIVE DONORS ON THE TERMS AND CONDITIONS OF OTHER ENDOWMENT FUNDS, INCLUDING NAMED FUNDS, PROVIDED THEY ARE CONSISTENT WITH OUR MISSION IN SUPPORT OF APPROPRIATE CONSERVATION, PUBLIC POLICY, AND RESEARCH ACTIVITIES. PART X, LINE 2: SCHEDULE D, PART X, LINE 2 - DUI, WAT AND DUL (DU OR THE ORGANIZATION) ARE RECOGNIZED AS ORGANIZATIONS EXEMPT FROM FEDERAL INCOME TAX UNDER 501(A) AS ENTITIES DESCRIBED IN SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE, EXCEPT FOR TAXES ON INCOME FROM ACTIVITIES UNRELATED TO ITS EXEMPT PURPOSES. THE ORGANIZATION DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX POSITIONS THAT SHOULD BE RECOGNIZED IN THE FINANCIAL STATEMENTS FOR 2023 OR 2022. 1 DUCKS UNLIMITED INC 1 WATERFOWL WAY MEMPHIS TN 38210 135643799 501(C)(3) 839064 0 EASEMENT MONITORING 1 0 PART I, LINE 2: SCHEDULE I, PART I, LINE 2 - DUCKS UNLIMITED, INC. IS A RELATED ORGANIZATION AND ALL RECORDS RELATED TO THE USE OF GRANTS ARE FULLY DISCLOSED. 0 0 0 0 0 0 0 0 0 ADAM PUTNAM TRUSTEE 0 341104 0 280000 0 990 0 16452 0 24353 0 662899 0 0 DANIEL THIEL CHIEF OPERATING OFFICER 0 262617 0 56487 0 4356 0 28275 0 20257 0 371992 0 0 KAREN WALDROP DIRECTOR 0 228167 0 67748 0 1470 0 24118 0 20232 0 341735 0 0 DARIN BLUNCK ASST. TREASURER 0 225233 0 60221 0 1469 0 27803 0 23166 0 337892 0 0 DAVID MARRONE ASST. SECRETARY 0 207341 0 51522 0 1326 0 27487 0 20353 0 308029 0 0 PART I, LINE 3 WETLANDS AMERICA TRUST, INC. RELIES UPON DUCKS UNILIMITED, INC. A RELATED ORGANIZATION, TO ESTABLISH COMPENSATION OF DUCKS UNLIMITED, INC.'S CEO AND ALL KEY EMPLOYEES. X 4 9471250 APPRAISALS X 1 410000 APPRAISALS 5 0 1 1 PART I, LINE 32B: DUCKS UNLIMITED, INC. SOLICITS AND PROCESSES DONATED EASEMENTS FOR WETLANDS AMERICA TRUST, INC. FORM 990, PART VI, SECTION A, LINE 6 WETLANDS AMERICA TRUST, INC (WAT) IS AUTHORIZED TO HAVE ONE MEMBER, WHICH IS A 501(C)(3) AND/OR NONPROFIT CORPORATION. DUCKS UNLIMITED IS THE INITIAL MEMBER OF WAT. FORM 990, PART VI, SECTION A, LINE 7A EXCEPT WHERE PROHIBITED BY LAW, WAT'S ARTICLES OF INCORPORATION OR WAT'S BYLAWS, WAT'S AUTHORITY SHALL BE VESTED IN AND EXERCISED BY THE BOARD OF DIRECTORS. FROM TIME TO TIME, THE WAT NOMINATING AND GOVERNANCE COMMITTEE, WHICH IS APPOINTED BY THE WAT BOARD OF DIRECTORS, SHALL NOMINATE POTENTIAL DIRECTORS TO THE WAT BOARD FOR ELECTION. THE WAT BOARD MAY APPROVE NOMINATIONS FROM THIS COMMITTEE BY A MAJORITY OF THE DIRECTORS, SUBJECT TO THE APPROVAL OF THE MEMBER, DUCKS UNLIMITED, INC. A MAJORITY OF THE DIRECTORS SHALL BE TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS DISTRIBUTED TO ALL WETLANDS AMERICA TRUST BOARD DIRECTORS AND TRUSTEES BEFORE THE 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED VIA AN ANNUAL CONFLICT OF INTEREST SURVEY. ALL EMPLOYEES OF RELATED ORG DUCKS UNLIMITED, INC. ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS TO AN INDEPENDENT PARTY (DIRECTOR OF FINANCIAL REPORTING AND AUDIT). IF A CONFLICT IS NOTED DURING THIS PROCESS, IT IS RESOLVED THROUGH DISCUSSIONS WITH UPPER MANAGEMENT, HUMAN RESOURCES, THE EMPLOYEE, HIS OR HER DIRECT SUPERVISOR, AND THE DIRECTOR OF FINANCIAL REPORTING AND AUDIT. BOARD MEMBERS AND COMMITTEE MEMBERS ARE REQUIRED TO PRESENT ANNUALLY POSSIBLE CONFLICTS OF INTEREST TO THE BOARD OF GOVERNANCE COMMITTEE FOR RESOLUTION PER THE CONFLICTS OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 WETLANDS AMERICA TRUST, INC. RELIES ON DUCKS UNLIMITED, INC. A RELATED ORGANIZATION, TO ESTABLISH THE COMPENSATION OF DUCKS UNLIMITED INC.'S CEO AND ALL KEY EMPLOYEES. DUCKS UNLIMITED USES AN INDEPENDENT CONSULTANT TO ESTABLISH AND BENCHMARK COMPENSATION FOR EMPLOYEES OF THE ORGANIZATION. THE PERSONNEL POLICY COMMITTEE MAKES RECOMMENDATIONS TO THE BOARD OF DIRECTORS REGARDING SALARY AND BENEFITS. FORM 990, PART VI, SECTION C, LINE 19 IN ORDER TO PROVIDE THE PUBLIC WITH IMPORTANT INFORMATION CONCERNING WETLANDS AMERICA TRUST, INC. THE FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THE DUCKS UNLIMITED, INC. WEB SITE (DUCKS.ORG). THE ARTICLES OF INCORPORATION AND BY-LAWS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, LINE 16B WETLANDS AMERICA TRUST, INC. ("WAT") RELIES ON THE ADVICE OF LEGAL AND TAX COUNSEL WHEN EVALUATING AND NEGOTIATING ARRANGEMENTS WITH OTHER MEMBERS OF THE JOINT VENTURE TO ENSURE SUCH TERMS AND SAFEGUARDS ARE ADEQUATE TO PROTECT ITS EXEMPT STATUS. HOWEVER, WAT DOES NOT HAVE A WRITTEN POLICY AND HAS THEREFORE ANSWERED THIS QUESTION AS "NO." DUCKS UNLIMITED INC 1 WATERFOWL WAY MEMPHIS TN 38120 135643799 CONSERVATION DC 501(C)(3) 7 N/A 0 DUCKS UNLIMITED GROUP RETURN 1 WATERFOWL WAY MEMPHIS TN 38120 912009004 CONSERVATION DC 501(C)(3) 7 DUI 0 0 1 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0