The iMIS Foundation finished 2012 on strong financial footing, despite the challenges of the economy. We have been fortunate to continue to receive generous donations and have not had to scale back any of our programs and conservation efforts.
We raised $24 million in new funds during fiscal year 2012, which remained on par with the amount raised in 2011. One-time contributions and membership funds accounted for 54% of our budget, with the remaining coming from ongoing contributions, estate and legacy gifts, and support from businesses and corporate partners.
We report our results are using Generally Accepted Accounting Principles (GAAP), which require us to record income based on the year funds are raised, not when the gifts are designated to be used. As a result, our year-over-year revenue can and does fluctuate. When we build our budget, we examine funds from ongoing and legacy gifts as well as forecast income from new campaigns. The iMIS Foundation is committed to maintaining a balanced budget.