Tiger Creek Animal Sanctuary

According to the National Foundation for Rescued Animals [dba Tiger Creek Animal Sanctuary] consolidated audit of September 30, 2023 (Note A re: Organization and Nature of Activities):

"...During 2019, the Organization's board of directors approved a measure to convert the outstanding debt owed to the Organization by Tigerlink, Inc., to investment equity. The Organization owns 100% of Tigerlink, Inc., a holding company, which owns 99% of Tiger Creek Safari Resort, LLC."

According to the National Foundation for Rescued Animals [dba Tiger Creek Animal Sanctuary] consolidated audit for the fiscal year ended September 30, 2023 (Note K, Concentrations):

"Approximately 67% of the Organization's revenue is derived from the fundraising efforts of a professional fundraising company. In the event the professional fundraiser no longer performed services for the Organization, the current level of the Organization's operations and services would be negatively impacted. At September 30, 2023, there is no provision in the financial statements for such an event as a reasonable estimate cannot be made and no losses are anticipated."

According to the National Foundation for Rescued Animals [dba Tiger Creek Animal Sanctuary] consolidated audit of September 30, 2023 (Note L, Related Party Transactions):

"The Organization leases 15 acres of land that is owned by an undivided interest between Decision Points, LLC and Terri Gilley, an individual. Decision Points, LLC is owned and managed by the Organization's founder. The rent is $14,676 per month and is scheduled to increase 10% in 2022 and every third year thereafter. Total rent expense under this agreement was $198,547 for the year ended, September 30, 2023. 

The Organization pays a 4% licensing fee for trademarks, copyrights, logos and slogans, created by the Organization's executive director and managed by Cat Daddy's Properties, LLC. Cat Daddy's Properties, LLC is 90% owned by the Organization's founder. The fee is based on total prior year gross revenues of the Organization. The licensing fee was $199,923 for the year ended, September 30, 2023 and is accounted for under taxes and licenses. 

The Organization leases 10 acres of land that is owned by the Organization's founder and Lisa Werner that is utilized as pastureland for hoof stock. The rent is $10 per year and other considerations. Rent expense for the years ended, September 30, 2023 was $-0- as the rent was waived by agreement between both parties. 

Minimum lease payments under the non-cancellable operating land lease at September 30, 2023 was $198,547 for years 2023 and 2024 and $208,337 for years 2025 through 2027."

According to the National Foundation for Rescued Animals dba Tiger Creek Animal Sanctuary (Tiger Creek) tax filing for the fiscal year ended September 30, 2023, Tiger Creek reports that the portion of rent expense related to the 15 acres of land from Decision Points, LLC (cited above in Note L of the audit) received by Development Director, Brian Werner, amounted to $122,789, and the portion received by Terri Gilley, Brian Werner's former spouse, amounted to $75,758 (IRS Form 990, Schedule L, Parts IV & V re: Business Transactions Involving Interested Persons).

According to the National Foundation for Rescued Animals dba Tiger Creek Animal Sanctuary (Tiger Creek) tax filing for the fiscal year ended September 30, 2023, Tiger Creek reports re: Loans to and/or from Interested Persons (IRS Form 990, Schedule L, Part II):

(1) A loan from Tiger Creek to Brian Ferris, Director, with an original principal amount of $533,305 and a balance due of $562,835 at 9/30/2023. The purpose of the loan is reported as being for an "Advance."

(2) A loan to Tiger Creek from Brian Ferris, Director, with an original principal amount of $1,598,449 and a balance due of $2,185,703 at 9/30/2023. The purpose of the loan is reported as being for "Accr[ued] Int[erest] & [Compensation]." [See the last of the Analysts' Notes, below, for additional information regarding Brian Werner's deferred compensation.]

(3) A loan to Tiger Creek from Cat Daddy's Properties LLC, which is 90% owned by the Organization's founder. The original principal amount of the loan is reported as $127,250, and the balance due was $418,036 at 9/30/2023. The purpose of the loan is reported as being for "Rent."

Each of the three loans is reported as being approved "by board or committee," having a written agreement, and not being in default.

According to the National Foundation for Rescued Animals, dba Tiger Creek Animal Sanctuary (Tiger Creek) tax filing for the fiscal year ended September 30, 2023, (IRS Form 990, Part VII), Tiger Creek reports Emily Brooks as "Chairman/Executive Director" and Brian Werner Ferris as "Founder." Tiger Creek reports having eight voting members on its governing body at fiscal year-end 2023, with three members being independent (IRS Form 990, Part VI, Section A, lines 1a & 1b).

According to the National Foundation for Rescued Animals dba Tiger Creek Animal Sanctuary (Tiger Creek) tax filing for the fiscal year ended September 30, 2023, Tiger Creek reports re: the existence of a family or business relationship among officers, directors, trustees, or key employees (IRS Form 990, Schedule O re: Part VI, Section A, line 2):

"Brian Werner and Emily Brooks are father and daughter."

According to the Tiger Missing Link Foundation [Tiger Creek Animal Sanctuary's former name] audit of September 30, 2015 (Note L, Prior Period Adjustment):

"On November 18, 2014, the Organization's Board of Directors approved the payment of deferred compensation and 7% interest to the Executive Director [Brian Werner] retroactive to his September 1995 hire date. The adjustment relating to prior periods was $1,416,764. This amount was adjusted to restate retained earnings as of the beginning of the year. Interest expense was restated and increased by $85,777 for the year ended, September 30, 2014."