Annual Report 2015

“The Crop Trust is fortunate to have support from across the world.” Marie Haga
Executive Director of the Crop Trust

Key figures

The Crop Trust Seed Vault

Crop Varieties sent from the Svalbard Global Seed Vault to Morocco and Lebanon38,073

Varieties available

Varieties available 572,425

Crop Varieties Available in International Collections
572,425
Contributions

Grant Expenditure Provided for Conservation USD 28.4M

Grant Expenditure Provided to Conserve Crop Diversity Globally
USD 28.4M
Training for collecting

Collecting Guides Developed14

Country Specific Collecting Guides for Crop Wild Relatives Developed
14
Countries receiving variety samples

Countries receiving samples 114

Number of countries receiving samples from Crop Trust supported collections
114
Variety records added

Grant Expenditure Provided for Gap Filling USD 1.375M

Grant Expenditure provided in support of collecting and conserving crop wild relatives (including capacity building)
USD 1.375M

Letters

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Walter Fust

"Crop diversity is one of the defining issues of our times."
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Marie Haga

"The global system we are building together is all at once inspiring, exciting, and absolutely essential."

What we do Pt. 1

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Global Genebank Partnership

"It is both individual and collective genebank efforts that are bringing crop conservation into the twenty-first century."
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Crop Wild Relatives

"An ambitious idea to adapt agriculture has become a reality."
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Svalbard Global Seed Vault

"The Seed Vault made history in 2015 with the first ever seed retrieval."

What we do Pt. 2

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Information Systems

"Managing data within the walls of a genebank, and sharing that data with the world, are two different, but not isolated, challenges."
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Quality Management Systems

"You set new goals as time goes by, so you are on a constant, steady course of improvement."
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Global Strategies

"Building a global system for conservation requires strategic thinking."

The Crop Trust

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Governance

"You set new goals as time goes by, so you are on a constant, steady course of improvement."
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Human resources

Being small in number, we depend on the exceptional competence and commitment of our staff.
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Events

"All our governance activities were organized with a dedication to keeping the Crop Trust’s decision-making open."

Take action

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Take action

"A world that loses diversity, loses options for the future."
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Spreading The Message

"Why is it so important to safeguard crop diversity?"
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Thank you

"We often say that we are a small organization with a big job. We don’t mean it as a complaint; that is how we always planned it to be. It means that we don’t need a lot of support, but our mission does."

Financial

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Financial Statement

Grants to conserve crop diversity world wide increased in 2015
2014
USD 25.1 Million
2015
USD 28.4 Million
+13%

Credits

Crop Trust

Securing our food, forever

The Crop Trust is fortunate to have support from across the world all dedicated to the future of food security, agriculture and biodiversity.

The Crop Trust would like to thank the following people for their support for this year’s annual report: Ambassador Walter Fust, Sir Peter Crane, The Crop Trust Staff, the Genebank Managers of the CGIAR, Paul Cox, Epic Agency, Getty Images Reportage.

Platz der Vereinten Nationen 7
53113 Bonn, Germany
www.croptrust.org

Highlights of the year

Topics

Financial

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Financial:

Running the Numbers

Grant expenditures provided for conservation USD 28.4M

 

The Crop Trust continued its program of providing long-term sustainable funding to the world’s most important collections of crop diversity; collections of banana, barley, bean, cassava, chickpea, edible aroids, faba bean, forages, grasspea, lentil, maize, pearl millet, rice, sorghum, sweet potato, wheat and yam, were supported in 2015.

Grants to conserve crop diversity world wide increased...
2014 USD 25.1M
2015 USD 28.4M

In 2015, the Crop Trust provided more than USD 28 million to fund the global system for the conservation of crop diversity for genebank operations, capacity building, staffing, collecting and prebreeding. These grants employed more than 1,000 people across the globe.

Operational Expenditures as a percentage of Total Direct Expenditures decreased...
2014 USD 10%
2015 USD 8%

In 2015, implementation of the Fundraising Strategy continued with outreach to potential donor governments and private donors including foundations, corporations, and industry associations. Building relationships with current and prospective partners required additional investment in fundraising and communication activities towards leading up to the Crop Trust Pledging Conference. The operational expenditures as a percentage of total direct expenditures decreased in 2015 to only 8%.

The Crop Diversity Endowment Fund

The Investment Objectives and Policies of the Crop Trust permit the annual withdrawal of up to 4% of the average market value of the Endowment Fund over the previous twelve quarters. In 2015, only 0.91% was released, funded by Endowment Fund capital. A grant from US Agency for International Development funded provided USD 2.3 million for operational expenditures in 2015.

Withdrawal from the Crop Diversity Endowment Fund decreased...
2014 USD 3.5%
2015 USD 0.91%

The Crop Trust is an official signatory to the United Nations Principles for Responsible Investing (UNPRI), an international framework for incorporating sustainability into investment decision-making. The Crop Trust believes that application of the UN PRI Principles improves alignment of the investment portfolio with its overall mission and with the broader objectives of society.

The Environmental, Social and Governance principles of investing were incorporated into the Crop Trust’s Investment Policy Statement in 2014, and all investment managers have been informed of our status as a UNPRI signatory to promote the acceptance and implementation of the principles within the investment industry.

The Finance and Investment Committee of the Executive Board of the Crop Trust is responsible for matters relating to the financial affairs of the organization encompassing the areas of strategic financial planning, resource management, treasury management, investment and financial risk management, financial monitoring and policy related issues and to provide timely advice to the Board on areas within its remit.

Average annual endowment return since inception
Per year3.7%

The Crop Trust works closely with its investment advisors to manage the portfolio and monitor investment risks. We report quarterly to the Crop Trust’s Finance and Investment Committee who then reports to the Executive Board.

The financial statements of the Crop Trust are prepared with reference to International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). However, since existing IFRS do not cover issues unique to not-for-profit organizations, the Crop Trust has drawn from other widely used standards (such as the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC)) to provide guidance on issues of importance that are not yet addressed by existing IFRS.

PWC have confirmed that the Crop Trust’s accounting policies are clear, transparent and easy to read and they have also confirmed that there is no requirement for us to comply with full IFRS at this time. The Finance Office, in collaboration with PWC, will continue to ensure that the accounting policies being applied in the financial statements are consistent with best practice, and IFRS, where possible.

Financial Audit

Pricewaterhouse Coopers, the Crop Trust’s external auditors since 2013, have audited the financial statements of the Global Crop Diversity Trust for 2015 and provided an unqualified audit opinion.

The full Financial Statements and Independent Auditor’s Report can be downloaded below.

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