Financial Report 2003

The Desert Foothills Land Trust is pleased to act as both an environmental and financial steward. We have, for the twelfth year effectively managed our operating expenses. We delayed our capital campaign, choosing instead to rely on reserves for our acquisitions.

We are beginning the 2004 fiscal year with ambitious goals that include solidifying our stewardship funding, participating in and monitoring the Land Trust reform legislation, implementing a capital campaign strategy, completing another successful membership campaign and hosting the Sonoran Symphony. All this, while we continue to responsibly manage our operations, increase our acres preserved and protect the lands for which we are responsible.

This is possible because of the dedicated staff, enthusiastic volunteers and special communities in which operate.

Desert Foothills Land Trust, Inc. Excerpts from Audited Financial Statements As of September 30, 2003
Operating Revenue
Memberships		$121,745
Special Events		115,727
Donations		50,445
Investment Income		13,653
Other Income		1,393
Total Operating Revenue		$302,963

Expense
Program Services		$221,948
Management/General		32,975
Fundraising		64,288
Membership		16,174
Total Expense		$335,385
Expenses in Excess of Revenues		$(32,422)

Assets
Cash and Cash Equivalents
Reserved for Operations		$200,000
Reserved for Stewardship/Garden		125,465
Reserved for Scholarship Fund		8,224
Reserved for Investment in Undesignated Land		159,583
Total Cash and Cash Equivalents		$493,272

Land Holdings		7,425,922
Other Assets		87,546*
Total Assets		8,006,740

Liabilities		(2,830)

Net Assets		$8,003,910

* Includes a $76,756 cash bond posted with the Arizona Court of Appeals in connection with the Trust's appeal (Case No.1-CA-CV 03-0645) in defense of a conservation easement, consistent with the organization's mission and legal obligations."