Liberia Conservation Fund Inc C/o Conservation International

What it reported doing in 2024

In this tax year, the corporation took critical steps to becoming fully operational. Following the advice of consultants hired with funding through the world bank's liberia forest sector project, the corporation's directors amended the bylaws on august 12, 2024 to meet best practice standards for conservation trust funds and attract donors to realize its goal as the principal conservation trust fund for liberia. Following review and advice of counsel, the directors later amended the bylaws again on january 24, 2025 to inter alia allow for alternate directors for the "institutional director" class. For a full description of the changes to the bylaws see part vi, 4. The corporation expanded the board of directors to 5 directors. It also onboarded new directors, including a new representative from the liberia forestry development authority ("fda") and new independent directors following the retirement of prior independent directors. The corporation also finalized amendments to the june 29, 2023 grant agreement from conservation international foundation. The amended and restated grant agreement modified the scope of work, providing the corporation with funding to hire part-time consultants to support with operations and fundraising for the corporation. From april to june 2026, the board of directors issued a request for proposals, conducted interviews, and selected a part-time consultant to perform key duties of an executive director role, who was contracted and started providing services in july 2025. On june 1, 2025, the corporation entered into a technical and administrative services agreement with conservation international liberia to provide administrative services to the corporation, including facilitating grant expenditures to local conservation partners in liberia. The corporation also took significant steps to commence its first disbursement from the endowment fund for the east nimba nature reserve ("ennr"), one of liberia's protected areas. The corporation negotiated with the management body for the ennr, the ennr co-management committee, defining a detailed budget for the first grant funds to support conservation activities in and around the ennr. The corporation and the ennr began negotiating a grant agreement, which was subsequently executed in october 2025.

Financial Efficiency

• Mission deployment rate: 0%; rating input score 0
• Program expense ratio: 0%; rating input score 0
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
• Governance controls: 3 of 7 controls in place; rating input score 43
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 62%; rating input score 92; 92nd percentile among comparable filings
• Total-asset coverage ratio: 68.18; rating input score 93; 93rd percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: -33.5% per year; rating input score 0; 12th percentile among comparable filings
• Asset growth: 8.1% per year; rating input score 100; 76th percentile among comparable filings