I sit on the RMEF board of directors, so feel free to ask if I can provide any answers. Most of the questions are answered in the link someone provided above to the Outdoor Life article.
RMEF received the ranch from the estate of Mr. Torestenson. The transfer and acceptance came with many restriction, one of which required a conservation easement be placed on the ranch to prevent impairment of the wildlife values of the property. When RMEF owned the ranch, they granted the protective conservation easement to Mule Deer Foundation, as you cannot hold your an easement on property you own. Since the sale happened last year, MDF has transferred the easement to RMEF, and now RMEF is on the hook for monitoring and enforcement of the terms and convenants of that easement places on the land.
RMEF could have decided to not accept the land, due to the restrictions that wold come with the land and the complications of running a ranch. RMEF knew they were not experienced at running a ranch operation and it would be a challenge. But, protecting the land in perpetuity was most important to RMEF and the family, so RMEF accepted the ranch, with the many restrictions/challenges, and worked to protect it.
Now that it is sold, some things to know about those sale proceeds.
The sales proceeds are held in a restricted endowment where RMEF can only use money when it has positive earnings. NONE OF THE PRINCIPAL FROM THE SALE CAN BE TOUCHED BY RMEF.
RMEF can only use earnings, which is capped at no more than 5% of the trust balance, annually. So, if the endowment fund loses money, RMEF gets none. If it only makes 2%, RMEF only gets 2%. If it makes 25%, RMEF only gets 5%. The family has set rules as to what RMEF mission-related work the money can be used for, and none of it can be used for overhead or administration.
This is how it should be. The Torstenson Family has been remarkably generous and committed to conservation. Whatever they want with the proceeds of this sale is how it should happen. It is their legacy and it should reflect the values they want expressed.
Though I was not on the board when the decision was made to accept the donation of this ranch, if that situation arose today, I would vote to accept the ranch and take the PR hit RMEF has taken by owning this ranch over the last decade.
In the end, nearly 100,000 acres of critical elk habitat gets put under conservation easement; a large restricted endownment is established that allows more conservation work to be acccomplished. To me, that is what is best for elk and other wildlife, and if it means a few PR hits to get it done, then so be it. That is the mission of RMEF and what conservation leadership is about.
Now, the goal is to find ways to use the endowment earnings in projects that fulfill the family legacy and serve the RMEF mission.
