YEAR IN REVIEW REFLECTING ON SUCCESS AND PLANNING FOR THE FUTURE

Dear Friends,

Let me begin by saying thank you! Thank you to our board of directors, staff, volunteers, landowners, donors, and supporters who value ensuring that farmland will remain part of California’s landscape and that agriculture will continue to be the state’s economic engine. I am pleased to report that the California Farmland Trust’s role in protecting our most valuable farmland is more important now than ever before and 2022 has proven that with our various efforts.

Two years in the making, the CFT Board of Directors and staff began the year with a fresh perspective and hopeful outlook during the 2022 strategic planning retreat. Members and staff gathered in January to work on a comprehensive agenda reflecting on the past, embracing the present, and preparing for the future of the organization. Directors and staff spent extensive time discussing what the future of CFT looks like, especially as more challenges in farmland protection and environmental policies arise in California. Additionally, the group worked through a SWOT analysis activity, where each of the members examined the most important strengths, weaknesses, opportunities, and threats of the organization, based on a list created in 2021. The results of this activity provided great insight and will set CFT up for success over the coming years. A portion of the day was spent listening to guest speaker, Dr. Roland Fumasi from Rabobank, who reviewed California’s robust agriculture economy, the food chain and market trends, and how land loss and farmland protection play a role in this.

We welcomed a new slate of officers, board members, and staff while saying a tough goodbye to long-time supporter and two-time board member Denny Jackman. Patrick Johnston earned the rank of President as Jon Harvey retired from the board after the completion of his twoyear term as President in March. Bill Hobbler and Michael Machado joined the board and a much-needed new position was created to support Conservation Director Chelsea Slaton’s work on stewardship and easement transactions. Lauren Fox filled this new role as the CFT program associate.

This year also brought me the exceptional experience of being a fellow with Class 51 of the California Agricultural Leadership Program. Ag Leadership is an advanced leadership development experience for emerging and mid-career leaders in agriculture. Through the 17-month program, fellows study leadership theory, effective communication, motivation, critical and strategic thinking, change management, emotional intelligence, and complex social and cultural issues. The program delivers about 55 seminar days, 10 days of national travel, and a 14-day international travel seminar. I am proud to join others who have made and continue to make a positive difference in their communities, their businesses, and in agriculture. Board members Maxwell Norton, Ken Oneto, Michael Machado, and Barbara Smith are all graduates of Ag Leadership and have proven to be exceptional board members who have created a vision for the organization and an impact on the communities in which they serve.

2022 also brought unprecedented times in the financial markets with inflation surging to 40-year highs that led the Federal Reserve to a series of interest rate hikes, impacting the bond market and sending stocks into a bear market that continued throughout the year. The board of directors remained vigilant in safeguarding CFT assets and actively managing the portfolio to mitigate the consequences of a rising interest rate environment on fixed-income securities by utilizing a strategy with ultrashort, high-quality fixed income with defined maturity to avoid the potential of principal loss. While our 2022 financials show an investment loss, we minimized more significant unrealized losses and have sharpened our financial modeling to understand risk tolerance and furthered refined investment policies to counter risk. The 2023 year-to-date investment gains have already reflected a meaningful recovery from the year prior and we anticipate that to continue.

We believe in and have a hope-filled future because of partners like you. Your gifts will continue to ensure that farmland is protected so future generations can farm and provide the most nutritious, abundant, and highest quality food and fiber that our communities locally and around the world can enjoy. We call on your continued support this coming year as we work to potentially protect an additional 2,000 acres of farmland, connect consumers with farmland through our Race to Slow the Pace event and celebrate our 20-year anniversary milestone in 2024.

Please enjoy our 2022 Impact Report and thank you for your support!

With gratitude,

Charlotte Mitchell, Executive Director cmitchell@cafarmtrust.org

Mission

We help farmers protect the best farmland in the world.

Vision

We see a future where our communities value farming as the best use of fertile farmland that supports our economy, environment, and quality of life.

Why

We exist to conserve a unique natural resource to enable future generations to thrive.