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Top Rated

Ducks Unlimited

CharityWatch rating issued
April 2026

Top-Rated Charity
B+
CharityWatch Rating
Our independent rating based
on a number of factors.
 
78%
Program Percentage
Amount spent on programs
relative to overhead.
 
$26
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Ducks Unlimited
1 Waterfowl Way
Memphis, TN 38120

Other Names

Wetlands America Trust

Tax Status

501(c)3

Website

www.ducks.org

Stated Mission

Conserves, restores, and manages wetlands and associated habitats for North America's waterfowl.

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Data based on Fiscal Year Ended 06/30/2024

Program Percentage: 78%

The percentage of Ducks Unlimited's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).

$321,000,000

Calculated Total Expenses

(rounded)

 

Cost to Raise $100: $26

How many dollars Ducks Unlimited spends on fundraising to raise each $100 of contributions.

$232,000,000

Calculated Total Contributions

(rounded)

Joint Costs

Ducks Unlimited's rating was adjusted for Joint Costs. If you are a donor who considers direct mail, telemarketing, and other Joint Cost solicitations to be true charitable programs, the below efficiency ratios, which were not adjusted for joint costs, may better reflect your goals.

Program % Cost to Raise $100
83% $20
Accounting rules allow charities to report some telemarketing, direct mail, and other solicitation costs as Program expenses. CharityWatch believes that most donors do not consider a charity's solicitation activities to be the Programs they are intending to support with their donations. We therefore adjust such expenses out of a charity's reported Program expense and add it to Fundraising expense prior to calculating its rating.

Government Funding

25% to 49%

Percentage of cash revenue
coming from government sources

 

Financial Documents

Entity Document Type Tax ID
Ducks Unlimited, Inc. and Affiliates Consolidated Audited Financial Statements Multiple
Ducks Unlimited, Inc. IRS Form 990 13-5643799
Ducks Unlimited, Inc. Group Return IRS Form 990 91-2009004
Wetlands America Trust, Inc. IRS Form 990 36-3330394
Ducks Unlimited, Inc. Government Grants as submitted to the California Department of Justice 13-5643799
Ducks Unlimited, Inc. and Affiliates Schedule of Findings and Questioned Costs 13-5643799
Entity: Ducks Unlimited, Inc. and Affiliates
Document Type: Consolidated Audited Financial Statements
Tax ID: Multiple
Entity: Ducks Unlimited, Inc.
Document Type: IRS Form 990
Tax ID: 13-5643799
Entity: Ducks Unlimited, Inc. Group Return
Document Type: IRS Form 990
Tax ID: 91-2009004
Entity: Wetlands America Trust, Inc.
Document Type: IRS Form 990
Tax ID: 36-3330394
Entity: Ducks Unlimited, Inc.
Document Type: Government Grants as submitted to the California Department of Justice
Tax ID: 13-5643799
Entity: Ducks Unlimited, Inc. and Affiliates
Document Type: Schedule of Findings and Questioned Costs
Tax ID: 13-5643799

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
 
Ducks Unlimited
meets governance benchmarks.
 
Ducks Unlimited
meets transparency benchmarks.
Transparency
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
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Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy Opt-Out Policy  

  Name Title Compensation
1 Adam Putnam Chief Executive Officer $598,074
2 E. Nichols Wiley Chief Operating Officer $524,460
3 Karen Waldrop Chief Conservation Officer $393,065
1
Name: Adam Putnam
Title: Chief Executive Officer
Compensation: $598,074
2
Name: E. Nichols Wiley
Title: Chief Operating Officer
Compensation: $524,460
3
Name: Karen Waldrop
Title: Chief Conservation Officer
Compensation: $393,065

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

CharityWatch's rating of Ducks Unlimited also includes the financial activities of Wetlands America Trust (tax ID #36-3330394), the accounts of which are included in the Ducks Unlimited audited consolidated financial statements for the fiscal year ended June 30, 2024.


According to the Ducks Unlimited consolidated audit of June 30, 2024 (Note 1, Nature of Activities):

"...Wetlands America Trust, Inc. (WAT) is a nonprofit organization formed in 1985 to support the mission of DUI [Ducks Unlimited, Inc.]... WAT operates exclusively for the benefit of DUI and complements DUI's domestic habitat programs in harmony with DUI's conservation priorities. WAT is also a fiduciary for DUI and manages endowments and revolving funds. DUI is the sole member of WAT..."

According to the Ducks Unlimited (DU) audited Consolidated Statement of Support and Revenues Without Donor Restrictions and Expenses for the year ended June 30, 2024, DU reports receiving in-kind "Donated educational programming" on which it placed a total value of $9,050,490.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]

According to the Ducks Unlimited (DU) tax filing for the fiscal year ended June 30, 2024, DU reports re: Compensation, Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (IRS Form 990, Schedule J, Part II):

DU reports providing "bonus & incentive compensation" to 14 individuals during 2023. E. Nichols Wiley, Chief Operating Officer, received $154,869 of bonus and incentive compensation, with total reported compensation of $524,460. The other 13 individuals received between $12,816 to $150,000, with total reported compensation ranging from $269,441 to $598,074. 

According to the Ducks Unlimited (DU) 2024 tax filing: "Kathy and Steve Christian - Family Relationship" (IRS Form 990, Schedule O re: Form 990, Part VI, Section A, line 2).

Kathy Christian is reported as Senior Vice President, Membership; Steve Christian is reported as Regional Vice President, Region 2. Both are reported as a Director (IRS Form 990, Part VII, Section A). The Foundation reports having 68 voting members on its governing body at the end of fiscal 2024, with 67 members being reported as independent (IRS Form 990, Part VI, Section A, lines 1a & 1b).