28 August 2019. - The Turks and Caicos Reef Fund (TCRF) released today the financial statements for its 9th Fiscal Year, which ended on 31 July 2019.
“We are pleased to have successfully completed our 9th year as the Turks & Caicos Islands only environmental advocacy non-profit group in the Country,” said Don Stark, Chairman of the TCRF. “We raised over $100,000 again in fiscal year 2019 and all of that money went back into environmental protection and awareness projects.”
TCRF reported total income of $100,179 for the fiscal year and total expenses of $125,596. Specific projects accounted for over $93,000 of the total expense. Another $16,542 in expenses were related to operations that enabled completion of those projects. “Our goal from the beginning has been to have 85% of every dollar raised going toward projects and we have met that goal every year, with 87% of the dollars expended going to specific projects and the operational expenses, such as the costs of running our vessel, the Reefsaver, needed to complete those projects,” said Mr. Stark.
Despite the fiscal year expenses exceeding income, the TCRF has a very healthy balance sheet with over $95,000 cash on hand at the end of July 2019.
“TCRF heads into fiscal year 2020 with strong financials and a healthy outlook for our 10th year. We expect 2020 to be another successful year for our organization and we continue to succeed without full time paid staff,” said Mr. Stark.
About TCRF
Founded in 2010, the Turks & Caicos Reef Fund is the only active environmental advocacy non-profit organization in the TCI. It is an all volunteer-run organization that provides funding for education, research and conservation programs to individuals, organizations and agencies that help to preserve and protect the environment of the Turks & Caicos Islands through education, research and advocacy. Our goal is to have at least 85% of all funds raised through voluntary contributions from divers and snorkelers visiting the Turks & Caicos Islands directed to the Fund’s programs.
Anyone wishing to donate or assist the TCRF in any way can contact them through their website, www.TCReef.org. Scuba divers visiting the islands are encouraged to make a $10 donation through the purchase of a dive tag that can be attached to their dive gear to show their support. Snorkelers visiting the islands can show their support through the $5 purchase of a pink or blue silicone wristband. A complete list of outlets for TCRF merchandise can be found on the organization’s website.
