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Where Your Money Goes

Environmental Defense Fund continued to maintain a strong financial position in the fiscal year ended September 30, 2008, thanks to the generosity and support of our more than 500,000 members, trustees, major donors, foundations and other contributors. Total program and supporting services expenditures for fiscal 2008 reached $100.9 million, a 37% increase over the previous year.

Operating support and revenue

A record level of operating support and revenue was contributed during fiscal 2008 for use in that and future years. Contributions and membership revenue increased to $69.1 million, representing 51% of the total. Foundation grants totaled $56.0 million, or 41% of the total. Bequests of $3.6 million accounted for 3% of the total, government and other grants provided 3% and investment income and other revenue accounted for the remaining 2%, for a total of $134.9 million in operating support and revenue for 2008 and future years.

Multiyear gifts and pledges play an important role in enabling us to expand and sustain our work. Our fundraising efforts for fiscal 2008 increased the amount available for future years by $27.9 million.

Expenses

Program services expenditures of $82.6 million accounted for 82% of total operating expenses in fiscal 2008, with almost all devoted to our priority areas — climate, oceans, ecosystems and health. Of the total, 7% was for management and administration, 10% went toward the fundraising needed to generate current income and support for future years, and 1% was spent on the acquisition of new members.

Non-operating activities

We began a new initiative for funding conservation loans through the California Fisheries Fund. Overall investment performance during fiscal 2008 was negative.

Net assets

Thanks mainly to gifts designated for future periods, total net assets grew $20.5 million to $131.2 million during the fiscal year.

(This statement represents the consolidated activities of Environmental Defense Fund, Incorporated, Environmental Defense Action Fund and the California Fisheries Fund, Inc. Copies of the complete, audited financial statements from which this information is summarized are available upon request. View the financial commentary in the 2008 annual report [PDF], which includes the statement of activities.)