Pheasants Forever

What it reported doing in 2024

Wildlife Habitat Initiatives: During the 2025 fiscal year, Pheasants Forever, Inc. completed over 2,500 habitat projects impacting 88,600 acres. Since its inception in 1982, Pheasants Forever has spent $1.34 billion and completed 589,000 habitat projects. These projects include land acquisitions, shelterbelts, wetlands, food plots, nesting cover, tree planting, maintenance and include the purchase of habitat equipment. Following are current year highlights of the various projects completed by Pheasants Forever: Land Acquisitions-Land acquired by, or with the help of, Pheasants Forever is generally donated to state and federal wildlife agencies for public wildlife management areas. During the year, Pheasants Forever spent $16.9 million to help purchase 941 acres of land, including conservation easements Since inception, Pheasants Forever has helped purchase, and put into public domain, more than 205,000 acres of land at a cost of $341 million. Shelterbelts- A well designed shelterbelt can effectively protect wildlife from exposure to harsh weather conditions. Shelterbelts also provide loafing, feeding, roosting and escape cover for pheasants and other upland wildlife throughout the year. In harsh winters, shelterbelts become rescue cover, allowing a nucleus of breeding individuals to survive the winter and repopulate the rural landscape the next spring. During the year, Pheasants Forever expended $4.8 million to plant trees and has spent $32.7 million on planted trees since 1982. Wetlands - Wetlands provide an excellent source of winter cover and provide the best overall survival rates for pheasants. A wetland's dense network of stems provides effective insulation from cold temperatures and wind chill and provides shelter from blowing and drifting snow. Pheasants Forever restored 410 acres of wetlands during the year and 89,751 acres of wetlands since inception. Food Plots- Winter cover is much more effective with a high energy food source nearby. Well-placed food plots establish safe foraging patterns, restrict unnecessary movements, and provide a dependable food source. A dependable high energy food source is needed to carry female birds through harsh winters in good condition and leads to a reduction in mortality rate during the following spring nesting season. During the year, Pheasants Forever planted 53,223 acres of food plots and has planted 2,351,900 acres of food plots since 1982. Nesting Cover - Throughout the pheasant range, nesting cover is the single most important limiting factor for wildlife populations. Establishing the right vegetation and managing it properly will provide pheasants with concealment from predators and protection from various weather conditions. Additionally, our nesting and brood-rearing projects that plant prairie grasses and forbs (flowering plants) also improve habitat for bees, butterflies and other pollinators. Pheasants Forever established or improved 18,162 acres of nesting cover during the year, and more than 3,245,000 acres since 1982. Maintenance - During fiscal year 2025 Pheasants Forever completed 452 projects to maintain quality habitat on over 15,000 acres. Since 1999 the organization has completed more than 59,000 maintenance projects covering more than 3,763,000 acres. Equipment - Pheasants Forever chapters purchase specialized habitat equipment which is either donated to local wildlife agencies or made available to local landowners to aid in establishing and/or maintaining their own habitat projects. During the year, Pheasants Forever expended $985,000 to purchase habitat equipment and has spent $23.3 million on habitat equipment since inception. Farm Bill Biologist Program - Pheasants Forever has developed a network of more than 350 trained biologists that work directly with local landowners, state and federal agencies and others around the country. These Farm Bill Biologists, Coordinating Wildlife Biologists, Habitat Specialists and others assist landowners and property manag

Financial Efficiency

• Mission deployment rate: 87.7%; rating input score 88
• Program expense ratio: 86.2%; rating input score 86
• Fundraising efficiency: $8.52 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 28th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 94.1%; rating input score 94; 45th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 1.8%; rating input score 42; 42nd percentile among comparable filings
• Total-asset coverage ratio: 0.72; rating input score 28; 28th percentile among comparable filings
• Liabilities to assets ratio: 0.23; rating input score 65; 65th percentile among comparable filings
• Officer compensation ratio: 2.1%; rating input score 54; 54th percentile among comparable filings

Growth

• Program expense growth: 6.5% per year; rating input score 100; 53rd percentile among comparable filings
• Revenue growth: 7% per year; rating input score 100; 61st percentile among comparable filings
• Asset growth: 7.5% per year; rating input score 100; 55th percentile among comparable filings