2026-05-13T01:22:56+00:00 2025-06-30 135565207 KPMG LLP 55 Second Street 1400 San Francisco CA 94105 990 2024-07-01 363330394 Wetlands America Trust Inc WETL 9017583825 1 Waterfowl Way Memphis TN 38120 Darin Blunck Assistant Treasurer 9017583788 2026-05-13 true Alison Lakritz P01935980 4159635100 2026-05-13 2024 2025-03-06 01:10:19Z Darin Blunck 1 Waterfowl Way Memphis TN 38120 47412339 false X www.ducks.org X 1984 DC WETLANDS AMERICA TRUST, INC. WAS FORMED TO SUPPORT DUCKS UNLIMITED, INC'S (EIN 13-5643799) MISSION TO PROVIDE LEADERSHIP IN THE PROTECTION OF THE NATURAL BALANCE OF WETLANDS. 7 6 0 59 651 0 9080095 16233707 0 1888066 3242340 0 10968161 19476047 811697 6040973 0 0 0 0 4203240 15835550 5014937 21876523 5953224 -2400476 198149563 201038493 108173829 113219443 89975734 87819050 WETLANDS AMERICA TRUST, INC. IS A NONPROFIT ORGANIZATION FORMED IN 1985 TO EXPAND DUCKS UNLIMITED, INC'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. false false 21290523 6040973 0 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. 586000 -1593843 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. 21876523 true true false false false false true false false true true false false false true true false true false false false false false false false false false true false true false false false false false false false false false false true true false false false true false false false false true 0 0 0 true true false false false false false false false false false false false X 7 6 false false false false true true false true true false false false true true true true true true false false true false CA GA AL IL KS KY MD MA MI MN MS NJ NY NC ND OK OR PA SC TN VA AR X X DARIN BLUNCK ASSISTANT TREASURER 9017583825 1 WATERFOWL WAY MEMPHIS TN 38120 Doug Oberhelman Vice Chairman 10.0 0 X X 0 0 0 John W Thompson Vice Chairman 10.0 0 X X 0 0 0 Steve Maritz Chairman 10.0 20.0 X X 0 0 0 Wendell W Weakley Secretary/Treasurer 10.0 10.0 X X 0 0 0 Joe Sivewright Director 5.0 0 X 0 0 0 John A Tomke Director 5.0 10.0 X 0 0 0 Karen Waldrop PhD Director 5.0 40.0 X 0 407043 34213 Daniel Thiel Executive Secretary, DUI and WAT 10.0 40.0 X 0 362702 38248 Darin R Blunck Assistant Treasurer 10.0 40.0 X 0 346608 39548 David A Marrone Assistant Secretary 10.0 40.0 X 0 308664 39376 0 1425017 151385 0 false true false 0 16233707 15856606 16233707 0 0 0 0 0 467427 651 466776 0 0 12360915 18350290 7992159 19944133 4368756 -1593843 2774913 -1593843 4368756 0 0 0 0 0 19476047 -1593843 651 4835532 6040973 6040973 0 0 0 0 0 0 0 0 CONSERVATION EASEMENTS 15249550 15249550 OTHER CONSERVATION 586000 586000 0 0 0 0 21876523 21876523 0 0 2016226 899608 0 1051005 0 0 0 0 546718 80842690 0 100234053 80842690 95106312 117474853 0 211254 223619 581718 0 198149563 201038493 8620504 6913130 0 0 7463000 3500000 92090325 102806313 108173829 113219443 X 58263929 62137819 31711805 25681231 89975734 87819050 198149563 201038493 X -2400476 283423 -39631 X false true true false X X 1 DUCKS UNLIMITED INC 135643799 7 true 490972 0 1 490972 0 true false false false false false false false false false false false false false false true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 632 498393.0 2 30 true 2541.0 618886 18482932 -15631 1945448 490973 19921776 20818020 -3789998 2266607 811697 18482932 19650401 2006683 839064 20818020 22488234 -2472729 365104 19650401 17929410 5161415 602591 22488234 0.0 0.5186 0.4814 false false 80842690 80842690 80842690 Federal Income Taxes DUE TO DUCKS UNLIMITED, INC. 102704102 OTHER LIABILITIES 102211 102806313 X 0 0 0 0 0 0 0 0 0 0 0 0 Schedule D, Part II, Line 3 #1 EASEMENT AMENDMENT, MS-58-29 CEDAR LANE FARMS CE This amendment reserved one additional right to subdivide the property into a total of five parcels while removing the right to a one-acre landfill and reduced the total permitted building envelopes to three on the protected property. Schedule D, Part II, Line 3 #2 EASEMENT AMENDMENT, MI-319-4 BAY CREEK FARMS CE Second amendment to the original easement to conserve an additional and contiguous 46.68 acres. Schedule D, Part II, Line 3 Modified or terminated conservation easements See Supplementary Information Schedule D, Part II, Line 9 Conservation easements financial reporting NOTE 2(P) 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. DU IS OBLIGATED TO MONITOR EASEMENTS TO ENSURE THAT THE RESTRICTIONS ARE MAINTAINED. DU MONITORS THESE EASEMENTS IN THE NORMAL COURSE OF ITS OPERATIONS AND ASSOCIATED COSTS ARE EXPENSED AS INCURRED. Schedule D, Part V, Line 4 Intended uses of endowment funds 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. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote 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 2025 OR 2024. true Ducks Unlimited INC 1 WATERFOWL WAY MEMPHIS TN 38120 135643799 501(C)(3) 490972 easement monitoring 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds DUCKS UNLIMITED, INC. IS A RELATED ORGANIZATION, AND ALL RECORDS RELATED TO THE USE OF GRANTS ARE FULLY DISCLOSED. false false false false false false false false false Karen Waldrop PhD Director 0 313641 0 91884 0 1518 0 22505 0 11708 0 441256 0 0 Daniel Thiel Executive Secretary, DUI and WAT 0 284555 0 73791 0 4356 0 26540 0 11708 0 400950 0 0 David A Marrone Assistant Secretary 0 241162 0 64664 0 2838 0 27668 0 11708 0 348040 0 0 Darin R Blunck Assistant Treasurer 0 272562 0 72528 0 1518 0 27840 0 11708 0 386156 0 0 Schedule J, Part I, Line 3 WETLANDS AMERICA TRUST, INC. RELIES UPON DUCKS UNLIMITED, INC. A RELATED ORGANIZATION, TO ESTABLISH COMPENSATION OF DUCKS UNLIMITED, INC.'S CEO AND ALL KEY EMPLOYEES. 12 15856606 Opinions of experts 12 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions DUCKS UNLIMITED, INC. SOLICITS AND PROCESSES DONATED EASEMENTS FOR WETLANDS AMERICA TRUST, INC. Form 990, Part VI, Line 15 Process to Establish Compensation 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 WETLANDS AMERICA TRUST, INC. PERSONNEL POLICY COMMITTEE MAKES RECOMMENDATIONS TO THE BOARD OF DIRECTORS REGARDING SALARY AND BENEFITS. Form 990, Part VI, Line 16b Written Policy on Joint Ventures 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." Form 990, Part VI, Line 1a Delegate broad authority to a committee THE BOARD OF DIRECTORS SHALL APPOINT FROM ITS MEMBERS AN EXECUTIVE COMMITTEE CONSISTING OF THE CHAIRMAN OF THE BOARD, PRESIDENT, FIRST VICE PRESIDENT, TWO (2) FLYWAY SENIOR VICE PRESIDENTS, THE SECRETARY, THE TREASURER, PRESIDENT OF WETLANDS AMERICA TRUST, INC., THE CHIEF EXECUTIVE OFFICER AND FOUR (4) OTHER SUCH MEMBERS OF THE BOARD OF DIRECTORS AS MAY BE DESIGNATED BY THE BOARD OF DIRECTORS. OF THE FOUR OTHER SUCH MEMBERS, TWO (2) SHALL BE FORMER PRESIDENTS OTHER THAN THE CHAIRMAN OF THE BOARD IF SUCH ARE MEMBERS OF THE BOARD OF DIRECTORS. THE CHAIRMAN OF THE BOARD SHALL SERVE AS CHAIRMAN. THE EXECUTIVE COMMITTEE SHALL KEEP REGULAR MINUTES OF ITS PROCEEDINGS AND MAKE PROMPT REPORTS THEREOF TO THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE, WHEN THE BOARD OF DIRECTORS IS NOT IN SESSION, SHALL HAVE AND SHALL EXERCISE ALL POWERS OF THE BOARD OF DIRECTORS WITHIN ESTABLISHED POLICY. HOWEVER, THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE POWER TO ADOPT A PLAN OF MERGER, ACQUISITION, CONSOLIDATION OR DISSOLUTION; OR TO APPROVE OF THE VOLUNTARY TRANSFER OF LAND HELD FOR CORPORATE (AS OPPOSED TO CONSERVATION OR FUNDRAISING) PURPOSES UNLESS OTHERWISE PROVIDED FOR BY POLICY OF THE BOARD OF DIRECTORS. Form 990, Part VI, Line 6 Classes of members or stockholders 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, Line 7a Members or stockholders electing members of governing body 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, Line 11b Review of form 990 by governing body 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, Line 12c Conflict of interest policy 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 GOVERNANCE COMMITTEE FOR RESOLUTION PER THE CONFLICTS OF INTEREST POLICY. Form 990, Part VI, Line 19 Required documents available to the public 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 XI, Line 9 Other changes in net assets or fund balances Endowment Adjustment - -39631; Total - -39631; DUCKS UNLIMITED INC 1 WATERFOWL WAY MEMPHIS TN 38120 135643799 CONSERVATION DC 501(c)(3) 7 na false DUCKS UNLIMITED GROUP RETURN 1 WATERFOWL WAY MEMPHIS TN 38120 912009004 CONSERVATION DC 501(c)(3) 7 DUI false false true false false true false false false false false false false true true true false false false false