African Parks is dependent on a range of funding sources to implement its conservation work. At an institutional level, we are fortunate to have funding from the estate of Paul van Vlissingen together with support from the Adessium Foundation, which is sufficient to cover our overhead costs. This puts us in the unique position of being able to channel 100% of all funds we raise directly into park management costs.
Each year we require $1 - $1.8 million to fund the management requirements of an individual park, the budget being dependent on size, complexity and stage in the park development cycle. To secure such funding our strategy is to focus on relatively few donors who are prepared to make relatively high value contributions, or to grow their contributions over time as they journey with us. Overall we seek contributors who subscribe to our model of hands-on management, direct accountability and demonstrating results. We believe in forging close relationships, and we encourage each of our contributors to interact with us, visit our parks, and to act as an ambassador for us wherever possible. In return, we offer our donors the ability to make a disproportionate impact on conservation in Africa for the funds they commit.
The African Parks Endowment Fund was established in 2010 to contribute to the long-term financing needs of our organisation. This is a pooled fund established by a formal mutual agreement between African Parks Network, Stichting African Parks Foundation and African Parks Foundation of America. The fund is administered by a single Management Committee, consisting of two members from each of the three structures, plus one or more key financial supporters. The committee administers and invests the funds on a collective basis and makes decisions on the allocation of the income on an annual basis.
The Endowment Fund has a number of sub-accounts which enable individuals or institutions to pledge funds to individual parks in the African Parks portfolio. The objective is to raise the fund from its current level of $25 million to $100 million over a five year period.