Financials

IN FISCAL YEAR 2023,
TROUT UNLIMITED:

made planned investments in operational growth to meet the scale of the need and opportunity of our work in the next five years. By bolstering our systems and people, we are equipping a smarter, larger, and even more effective TU. 

TU has seized the opportunity to make critical long-term operational investments across the organization. These investments are made possible by near-term inflows of unrestricted funding, notably from a substantial bequest and forgiveness of TU’s Covid-era PPP loan, as well as increased long-term programmatic commitments from funding partners deploying additional awards, which reflects the effectiveness of TU’s conservation mission. This combination of capital infusion plus increased long-term stability allowed TU to initiate a multi-year investment in systems to support a growing conservation portfolio plus investments in staffing to expand our supporter relationships. 

TU is financially stable and fully prepared to absorb growth in all areas. Total revenue has averaged $70 million over the last three years – 20% higher than the prior three-year period and nearly double the revenue totals from a decade ago. Fiscal year 2023 closed with net assets totaling $40 million, down from $45 million in 2022, but $5.8 million more than $34.2 million in fiscal year 2021.  Cash and cash equivalents increased by $400,000 to $11.3 million when compared to last year, due in part to efficient conversion of funder receivables into cash.  

It is an exciting time of growth at TU as our conservation outcomes multiply each year, and these investments will continue to build a stronger TU with improved tools and technology, quality staffing management, and core support that will maximize our impact on the ground.  

We are grateful for the generosity expressed by our donors with each contribution to our mission. Together, we are advancing our shared goal to protect and restore the rivers and streams that we all depend on.  

Jim Hughey 
Chief Financial Officer