ANNUAL REPORT - Australian Conservation Foundation

OUR FINANCIALPERFORMANCERevenue $7,309,284Unrestricted revenue growth $1,151,920Reserves $4,063,400Financially it has been quite an amazing year at ACF. Theorganisation has benefited from substantial growth in ourEarthfund regular giving program, the gift and bequest ofhouses and fabulous new fundraising opportunities such asthe Art Project “Australia Felix” with Port Jackson Press.In 2004 ACF revenue hit an all time high, exceedingthe previous record result of 2003 by $541,019.The expenditure on new fundraising capacity in 2002–2003 delivered significant unrestricted income growth for theorganisation, giving ACF the flexibility and strength to meetthe environmental challenges ahead. Environmental programexpenditure increased by 7% compared with 2002–2003,This inspirational performance is attributable to ourpassionate and committed supporters, who so generouslyexhibit their concern for the Australian environment.Record revenue has provided new funding forenvironmental programs including:• Northern Australia – our program, in partnership withthe numerous indigenous communities, to protectAustralia’s great northern treasures of Cape York,Kakadu and the Kimberley;• South Eastern Marine – seeking better protection for ourSouth Eastern Marine environments funded throughthe Department of Environment and Heritage;• Climate Leaders – our corporate partnership withprogressive companies encouraging proactive actionson climate change• Building Green – working to green the corporate builtenvironment;• Energy – working to achieve better environmentaloutcomes with significant climate change impactingindustries; and• Green Home – our program to assist households toimplement sustainability strategies in their own home;Yet for ACF to remain Australia’s leading environmentgroup it is vital that our financial capacity continues to beas rewarding and efficient as our environment programs.To this end ACF’s has continued its investment in futurefundraising income with an increase in fundraisingexpenditure of 20% or $449 371.The overall result for the year was a deficit of $264 382,driven largely by increased fundraising expenditure. Thedeficit was significantly better than that budgeted for.ACF’s financial position remains strong withaccumulated reserves at just over $4,089,448.Approximately 53% of ACF’s reserves are allocated tospecific environmental campaigns over the next few years.The remaining 47% unrestricted reserves provide financialsecurity for the organisation; this is well within theCouncil’s required minimum reserve levels equivalent to3 months of unrestricted operating expenditure.50000004000000300000020000001000000ReservesRestricted Unrestricted8000000600000040000002000000RevenueRestriceted Revenue Unrestricted Revenue1302003 200402003 2004