CI demonstrates good stewardship over donor contributions by working strategically — selecting the geographies, partnerships and fora where our efforts can have the greatest impact, today and in the future. We are grateful for the generosity and continued support of our donors during FY10.
CI entered FY10 having just successfully completed our Future for Life Campaign, which raised $1 billion and laid a solid foundation for the work we now embark upon — ensuring the well-being of humanity by empowering societies to value and care for nature and the essential services it provides us all.
TAKE A CLOSER LOOK: Click the financial charts to view in detail.
From a fundraising perspective, FY10 was a transitional year. This was by design, as we began to lay the groundwork for a new strategic plan and for a fundraising campaign to support that plan in the coming years. We worked to forge new partnerships, developing programs and relationships that will come to fruition over the coming 18 to 24 months and form the foundation for our next campaign. Multi-year pledges raised during the previous campaign supported our work during FY10.
Our FY10 revenues were lower than those recognized during the height of the campaign; however, we closed the year with a robust unrestricted surplus of $1.9 million. CI has consistently reported modest annual unrestricted operating surpluses since its inception.
FY 2010 Form 990 (PDF - 6.01 MB)
Audited Financial Statements for the year ending June 30, 2010 (PDF - 368 KB)
CI is fortunate to stand upon a strong financial footing, having closed FY10 with net assets of $230 million. Our priority for the coming year and beyond will be to launch a new campaign to ensure that resources are in place to support our work in these coming critical years in which so much stands to be lost or gained.
Although overall revenue declined this year, individual and corporate grants and contributions rose over FY09 levels as we began to promote our new programs, with the results beginning to bear fruit. While grant cancellations and deobligations increased over prior-year levels, this is largely attributed to the lingering aftermath of the economic downturn, and we do not anticipate significant grant cancellations in the coming year. Conversely, the gradual economic recovery bolstered investment income, with our endowment holdings having largely recovered from the substantial prior-year losses.
CI is committed to maintaining the highest standards of stewardship over the funds entrusted to us. In FY10, 82 percent of every dollar spent directly supported CI’s programs. Management and operations accounted for 11 percent of total spending, and development accounted for seven percent. CI has consistently earned the highest ratings from charity watchdog groups such as Charity Navigator and the American Institute of Philanthropy for organizational efficiency and the effective use of funds.
In FY10, CI invested almost $139 million in conservation programs across the globe. We invest nearly 70 percent of our resources in our people and in our partners. Thirty-eight percent of our budget supports our staff — recognized experts in their respective fields and countries. Grant making, which comprised 31 percent of our expenditures in FY10, represents a cornerstone of CI’s programmatic delivery.
The Ecosystem Finance Division awarded more than $19.8 million in grants to non-governmental and private-sector partner organizations globally to stem the tide of biodiversity loss, ensure healthy communities and protect the ecosystem services upon which they depend — an example of CI’s successful approach to working hand in hand with partners to achieve positive, lasting results.
READ MORE: Download our 2010 Annual Report (PDF - 4.8 MB)