Civic Intelligence

Wetlands America Trust Inc

EIN 36-3330394 • 501(c)3 • Memphis, TN

Profile

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.

1 Waterfowl WayMemphis, TN 38120

www.ducks.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

71st percentile

0.55x

Higher debt load relative to assets than 71% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

9.86x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

93rd percentile

54%

Higher net margin than 93% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

61st percentile

$598,074

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

72nd percentile

12%

Faster asset growth than 72% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

7th percentile

-25%

Faster revenue growth than 7% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$198,149,563

Up $21,004,191 (+12%) from 2023

Liabilities

Up

$108,173,829

Up $18,291,623 (+20%) from 2023

Net Assets

Up

$89,975,734

Up $2,712,568 (+3.1%) from 2023

Revenue

Down

$10,968,161

Down $3,658,857 (-25%) from 2023

Expenses

Down

$5,014,937

Down $7,794,363 (-61%) from 2023

Net Income

Up

$5,953,224

Up $4,135,506 (+228%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200M$150M$100M$50M$0Assets 2010: $34,749,290Liabilities 2010: $5,377,717Net Assets 2010: $29,371,5732010Assets 2011: $43,927,607Liabilities 2011: $9,095,495Net Assets 2011: $34,832,1122011Assets 2012: $46,784,213Liabilities 2012: $6,771,665Net Assets 2012: $40,012,5482012Assets 2013: $60,527,086Liabilities 2013: $16,123,468Net Assets 2013: $44,403,6182013Assets 2014: $79,522,633Liabilities 2014: $26,310,543Net Assets 2014: $53,212,0902014Assets 2015: $91,482,447Liabilities 2015: $34,814,138Net Assets 2015: $56,668,3092015Assets 2016: $103,005,641Liabilities 2016: $44,369,693Net Assets 2016: $58,635,9482016Assets 2017: $119,219,231Liabilities 2017: $50,520,070Net Assets 2017: $68,699,1612017Assets 2018: $127,601,809Liabilities 2018: $60,425,620Net Assets 2018: $67,176,1892018Assets 2019: $144,395,052Liabilities 2019: $75,760,581Net Assets 2019: $68,634,4712019Assets 2020: $131,260,957Liabilities 2020: $66,633,352Net Assets 2020: $64,627,6052020Assets 2021: $183,394,800Liabilities 2021: $96,544,430Net Assets 2021: $86,850,3702021Assets 2022: $176,072,793Liabilities 2022: $91,644,424Net Assets 2022: $84,428,3692022Assets 2023: $177,145,372Liabilities 2023: $89,882,206Net Assets 2023: $87,263,1662023Assets 2024: $198,149,563Liabilities 2024: $108,173,829Net Assets 2024: $89,975,7342024

Highlighted filing

2024

Assets$198,149,563
Liabilities$108,173,829
Net Assets$89,975,734

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150M$100M$50M$0-$50MExpenses 2010: $21,978,8042010Expenses 2011: $8,329,8912011Expenses 2012: $24,265,0502012Expenses 2013: $9,017,3712013Revenue 2014: $18,845,581Expenses 2014: $10,851,820Net Income 2014: $7,993,7612014Revenue 2015: $15,904,460Expenses 2015: $12,001,092Net Income 2015: $3,903,3682015Revenue 2016: $29,485,872Expenses 2016: $26,845,412Net Income 2016: $2,640,4602016Revenue 2017: $34,283,865Expenses 2017: $25,592,550Net Income 2017: $8,691,3152017Revenue 2018: $18,980,111Expenses 2018: $20,827,297Net Income 2018: -$1,847,1862018Revenue 2019: $34,426,308Expenses 2019: $33,280,168Net Income 2019: $1,146,1402019Revenue 2020: $8,887,394Expenses 2020: $12,692,201Net Income 2020: -$3,804,8072020Revenue 2021: $123,361,647Expenses 2021: $105,070,977Net Income 2021: $18,290,6702021Revenue 2022: $5,079,645Expenses 2022: $3,303,133Net Income 2022: $1,776,5122022Revenue 2023: $14,627,018Expenses 2023: $12,809,300Net Income 2023: $1,817,7182023Revenue 2024: $10,968,161Expenses 2024: $5,014,937Net Income 2024: $5,953,2242024

Highlighted filing

2024

Revenue$10,968,161
Expenses$5,014,937
Net Income$5,953,224

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$198$108$90.0$11.0$5.01$5.95
2023Detailed filing. Detailed filing data is available for this year.$177$89.9$87.3$14.6$12.8$1.82
2022Detailed filing. Detailed filing data is available for this year.$176$91.6$84.4$5.08$3.30$1.78
2021Detailed filing. Detailed filing data is available for this year.$183$96.5$86.9$123$105$18.3
2020Detailed filing. Detailed filing data is available for this year.$131$66.6$64.6$8.89$12.7$3.80
2019Detailed filing. Detailed filing data is available for this year.$144$75.8$68.6$34.4$33.3$1.15
2018Detailed filing. Detailed filing data is available for this year.$128$60.4$67.2$19.0$20.8$1.85
2017Detailed filing. Detailed filing data is available for this year.$119$50.5$68.7$34.3$25.6$8.69
2016Detailed filing. Detailed filing data is available for this year.$103$44.4$58.6$29.5$26.8$2.64
2015Detailed filing. Detailed filing data is available for this year.$91.5$34.8$56.7$15.9$12.0$3.90
2014Detailed filing. Detailed filing data is available for this year.$79.5$26.3$53.2$18.8$10.9$7.99
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$60.5$16.1$44.4$9.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.8$6.77$40.0$24.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.9$9.10$34.8$8.33
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.7$5.38$29.4$22.0
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$33,828,477
Mission and Program Overview

Mission

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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$92,167,235$100,234,053▲ $8,066,818
Investments in Publicly Traded Securities$83,369,839$95,106,312▲ $11,736,473
Savings and Temporary Cash Investments$748,637$2,016,226▲ $1,267,589
Investments Program Related$235,030$211,254▼ $23,776
Accounts Receivable$99,914$0▼ $99,914
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Loans From Officers Directors$0$0→ $0
Total Assets$177,145,372$198,149,563▲ $21,004,191
Other Assets Total$524,717$581,718▲ $57,001
Liabilities
Other Liabilities$81,365,451$92,090,325▲ $10,724,874
Deferred Revenue$7,996,005$8,620,504▲ $624,499
Mortgage Notes Payable Secured by Investment Property$520,750$7,463,000▲ $6,942,250
Total Liabilities$89,882,206$108,173,829▲ $18,291,623
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$64,875,226$58,263,929▼ $6,611,297
Net Assets With Donor Restrictions$22,387,940$31,711,805▲ $9,323,865
Total Net Assets Fund Balance$87,263,166$89,975,734▲ $2,712,568
Total Liabilities and Net Assets / Fund Balance$177,145,372$198,149,563▲ $21,004,191

Asset Categories

AssetBook ValueDepreciationBasis
Land$100,234,053-$100,234,053

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$20,818,020$-3,789,998▲ $2,266,607$811,697$18,482,932
2022$19,650,401-▲ $2,006,683$839,064$20,818,020
2021$22,488,234-▼ $2,472,729$365,104$19,650,401
2020$17,929,410-▲ $5,161,415$602,591$22,488,234
2019$18,790,276-▲ $562,809$1,423,675$17,929,410
Compensation and Service Providers

Board Members and Trustees

NameTitle
Steve MaritzPresident, Director
John W ThompsonVice Chairman, Director
Doug OberhelmanVice President, Director
Joe SivewrightDirector
John A TomkeDirector
Karen WaldropDirector
Wendell W WeakleySecretary/Treasurer, Director
Adam PutnamTrustee
Andrew D LundquistTrustee
Bill D'AlonzoTrustee
Bob SpoerlTrustee
Bruce LauritzenTrustee
Chuck SmithTrustee
Dan RayTrustee
David F GrohneTrustee
David G BunningTrustee
David GrieveTrustee
David K Welles JrTrustee
David McleanTrustee
David MooreTrustee
Doug SchoenrockTrustee
Douglas D FreyTrustee
George H Dunklin JrTrustee
James C KennedyTrustee
Jerry HarrisTrustee
John L MorrisTrustee
John Paul MorrisTrustee
John S DaleTrustee
Orrin H Ingram IITrustee
Paul M DicksonTrustee
Paul R BondersonTrustee
Richard A CorbettTrustee
Rod Rodriguez JrTrustee
Rogers HoytTrustee
Skipper DicksonTrustee
Steve WhatleyTrustee
Terry GraunkeTrustee
Willam C AnsellTrustee
William E Walker IIITrustee
David MarroneAssistant Secretary
Darin BlunckAssistant Treasurer
Daniel ThielExecutive Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$9,080,095
Program Service Revenue
$0
Investment Income
$1,888,066
Other Revenue
$0
All Other Contributions
$5,080,095
Change in Net Assets
$5,953,224

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Qualified Contrib Other5$3,559,000Opinions of experts
Real Estate Other3$290,714Opinions of experts
Total Noncash Contributions8$3,849,714-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,203,240
Grants and Similar Amounts Paid$811,697
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$811,697--$811,697
Other Expenses$644,240--$644,240
Total Functional Expenses$5,014,937$0$0$5,014,937
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ducks Unlimited IncMemphis, TN501(c)(3)Easement Monitoring$811,697
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Ducks Unlimited, Inc.$91,959,633
Other Liabilities$130,692
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, 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, 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, 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, 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, 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 wetlands america trust, inc. 36-3330394 personnel policy committee makes recommendations to the board of directors regarding salary and benefits.

Form 990, Part VI, Line 17 LIST OF STATES RECEIVING COPY OF FORM 990:

Al,ar,ca,ga,il,ks,ky,ma,md,mi,mn,ms,nc,nd,nj,ny,ok,or,pa,sc,tn,va

Form 990, Part VI, 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."

Form 990, Part VI, Line 4 Significant changes to organizational documents

During the tax year, the organization identified an error in its historical records regarding the year of formation. The original formation year was incorrectly recorded as 1985. After a thorough review of the founding documents, it was determined that the correct year of formation is 1984. As a result, the organization has made an update to its organizing documents to reflect the accurate year of formation.

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 of 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.

Filing and Contact Details

Filer

Filer Name
Wetlands America Trust Inc
EIN
36-3330394
Phone
9017583825
Address
1 Waterfowl Way, Memphis, TN 38120

Signing Officer

Name
Darin Blunck
Title
Assistant Treasurer
Phone
9017583788
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
1984
Legal Domicile
Dc
Voting Board Members
7
Independent Board Members
6
Employees
0
Volunteers
57

Preparer

Firm
Kpmg Llp
Address
303 Peachtree St NE Suite 2000, Atlanta, GA 30308
Preparer
Whitney B Hebron
Phone
4042223000
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1 DESCRIPTION OF ORGANIZATION MISSION:

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.

Form 990, Part III, Line 1 DESCRIPTION OF ORGANIZATION MISSIO

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.

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Other Net Assets Change - -4239454;

Financial Statement Notes

Schedule D, Part II, Line 3 #1 Easement Amendment, MS-92-32 Kastner CE

Updated extinguishment provision pursuant to IRS Notice 2023-30 regarding safe harbor deed language.

Schedule D, Part II, Line 3 #2 Easement Amendment, MS-92-36 Special K Membership Co. CE

Updated extinguishment provision pursuant to IRS Notice 2023-30 regarding safe harbor deed language.

Schedule D, Part II, Line 3 #3 Easement Amendment, SC-1-64 Myrtle Grove-Marvin Tracts B&C CE

Updated extinguishment provision pursuant to IRS Notice 2023-30 regarding safe harbor deed language.

Schedule D, Part II, Line 3 #4 Easement Amendment, SC-1-53 Myrtle Grove CE

Updated extinguishment provision pursuant to IRS Notice 2023-30 regarding safe harbor deed language.

Schedule D, Part II, Line 3 #5 Easement Amendment, SC-4-41 Dover Plntation CE

Updated extinguishment provision pursuant to IRS Notice 2023-30 regarding safe harbor deed language.

Schedule D, Part II, Line 3 #6 Easement Amendment, SC-7-21 Millbrook R&G Hanahan CE

Updated extinguishment provision pursuant to IRS Notice 2023-30 regarding safe harbor deed language.

Schedule D, Part II, Line 3 #7 Easement Amendment, 7 FL-53-1 Deluca Preserve CE

Updated boundary line adjustment provision pursuant to IRS Notice 2023-30 regarding safe harbor deed language.

Schedule D, Part II, Line 3 #8 Easement Amendment, SC-1-22 Rose Hill CE

Resolve violation.

Schedule D, Part II, Line 3 #9 Easement Amendment, NE-237-1 Kleager CE

Corrective Deed: Updated boundaries to correctly reflect landowner's owned property after a boundary agreement with a neighbor Amendment: Added an additional 14 acres to the easement property, established location for a building area, and permitted a single subdivision of the property.

Schedule D, Part II, Line 3 #10 Easement Amendment, MI-319-2 Bay Creek Phase II CE

Added additional 168 acres to the protected property. These additional acres were counted as conserved in FY23, but the amendment was recorded in early FY24.

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. Upport 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 part ii, line 9: wetlands america trust, inc. 36-3330394 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.

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 2024 or 2023.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Vice President, Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chairman, Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2President, Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary/Treasurer, Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt25Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt26Trustee

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