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            <City>RIO VISTA</City>
            <State>CA</State>
            <ZIPCode>94571</ZIPCode>
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        </AddressOfContractor>
        <DescriptionOfServices>HABITAT RESTORATION</DescriptionOfServices>
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      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>MOORE WALLACE COMPANY</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
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            <City>CHICAGO</City>
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          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>PRINTING</DescriptionOfServices>
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      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>DUTRA CONSTRUCTION CO INC</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
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            <State>CA</State>
            <ZIPCode>94901</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>HABITAT RESTORATION</DescriptionOfServices>
        <Compensation>2526000</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>BOREAL SONGBIRD</NamePerson>
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        <AddressOfContractor>
          <AddressUS>
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            <State>WA</State>
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        </AddressOfContractor>
        <DescriptionOfServices>HABITAT RESTORATION</DescriptionOfServices>
        <Compensation>1473000</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>FDC ENTERPRISES INC</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
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            <State>OH</State>
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          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>HABITAT RESTORATION</DescriptionOfServices>
        <Compensation>1703415</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>102</NumberOfContractorsGT100K>
      <FederatedCampaigns>435377</FederatedCampaigns>
      <MembershipDues>18641630</MembershipDues>
      <RelatedOrganizations>325225</RelatedOrganizations>
      <GovernmentGrants>71527617</GovernmentGrants>
      <AllOtherContributions>55358256</AllOtherContributions>
      <NoncashContributions>909752</NoncashContributions>
      <TotalContributions>146288105</TotalContributions>
      <TotalProgramServiceRevenue>0</TotalProgramServiceRevenue>
      <InvestmentIncome>
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        <RelatedOrExemptFunctionIncome>0</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>0</UnrelatedBusinessRevenue>
        <ExclusionAmount>599612</ExclusionAmount>
      </InvestmentIncome>
      <IncomeFromInvestBondProceeds>
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        <UnrelatedBusinessRevenue>0</UnrelatedBusinessRevenue>
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      <GrossAmountSalesAssets>
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      <NetGainOrLossInvestments>
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      <NetIncomeFromFundraisingEvents>
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      </NetIncomeFromGaming>
      <NetIncomeOrLoss>
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      </NetIncomeOrLoss>
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      <OtherRevenueMisc>
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      <GrantsToDomesticOrgs>
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      </GrantsToDomesticOrgs>
      <GrantsToDomesticIndividuals>
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      </GrantsToDomesticIndividuals>
      <ForeignGrants>
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        <ProgramServices>15270510</ProgramServices>
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      <BenefitsToMembers>
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      </BenefitsToMembers>
      <CompCurrentOfficersDirectors>
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        <ProgramServices>263614</ProgramServices>
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      <CompDisqualPersons>
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      </CompDisqualPersons>
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        <ManagementAndGeneral>1964578</ManagementAndGeneral>
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      <PensionPlanContributions>
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      <OtherEmployeeBenefits>
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      <PayrollTaxes>
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        <Fundraising>659939</Fundraising>
      </PayrollTaxes>
      <FeesForServicesManagement>
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      </FeesForServicesManagement>
      <FeesForServicesLegal>
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        <ProgramServices>48060</ProgramServices>
        <ManagementAndGeneral>50920</ManagementAndGeneral>
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      <FeesForServicesAccounting>
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        <ManagementAndGeneral>195806</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </FeesForServicesAccounting>
      <FeesForServicesLobbying>
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      </FeesForServicesLobbying>
      <FeesForServicesProfFundraising>
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        <Fundraising>499292</Fundraising>
      </FeesForServicesProfFundraising>
      <FeesForServicesInvstMgmntFees>
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      </FeesForServicesInvstMgmntFees>
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      <Advertising>
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      <InformationTechnology>
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        <ManagementAndGeneral>54993</ManagementAndGeneral>
        <Fundraising>320257</Fundraising>
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      <Royalties>
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      <Occupancy>
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        <ProgramServices>1592027</ProgramServices>
        <ManagementAndGeneral>229906</ManagementAndGeneral>
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      <Travel>
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        <ManagementAndGeneral>147077</ManagementAndGeneral>
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      </Travel>
      <TravelEntrtnmntPublicOfficials>
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      </TravelEntrtnmntPublicOfficials>
      <ConferencesMeetings>
        <Total>536551</Total>
        <ProgramServices>476180</ProgramServices>
        <ManagementAndGeneral>50951</ManagementAndGeneral>
        <Fundraising>9420</Fundraising>
      </ConferencesMeetings>
      <Interest>
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        <ProgramServices>0</ProgramServices>
        <ManagementAndGeneral>21704</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </Interest>
      <PaymentsToAffiliates>
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      </PaymentsToAffiliates>
      <DepreciationDepletion>
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        <Fundraising>60289</Fundraising>
      </DepreciationDepletion>
      <Insurance>
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        <ProgramServices>311055</ProgramServices>
        <ManagementAndGeneral>-9883</ManagementAndGeneral>
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      <OtherExpenses>
        <Description>HABITAT DEVELOPMENT</Description>
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        <ProgramServices>58232109</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>3312</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>POSTAGE AND SHIPPING</Description>
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        <ProgramServices>1954857</ProgramServices>
        <ManagementAndGeneral>29521</ManagementAndGeneral>
        <Fundraising>2598004</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PREMIUMS</Description>
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        <ProgramServices>1479</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>3390390</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PRINTING AND PUBLICATION</Description>
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        <ProgramServices>1512712</ProgramServices>
        <ManagementAndGeneral>20635</ManagementAndGeneral>
        <Fundraising>715680</Fundraising>
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      <AllOtherExpenses>
        <Total>251794</Total>
        <Fundraising>251794</Fundraising>
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      <TotalFunctionalExpenses>
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        <ProgramServices>119023455</ProgramServices>
        <ManagementAndGeneral>4633129</ManagementAndGeneral>
        <Fundraising>23719393</Fundraising>
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      <JointCosts>X</JointCosts>
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        <Total>16400000</Total>
        <ProgramServices>7400000</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>9000000</Fundraising>
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        <BOY>494485</BOY>
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      <SavingsAndTempCashInvestments>
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      <CollectUsedForPreservation>X</CollectUsedForPreservation>
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        <CollectionUsedForOtherPurposes>X</CollectionUsedForOtherPurposes>
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      <EndowmentsHeldByRelatedOrgs>true</EndowmentsHeldByRelatedOrgs>
      <AreRelatedOrgsListedScheduleR>true</AreRelatedOrgsListedScheduleR>
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        <OtherCostOrOtherBasis>1405264</OtherCostOrOtherBasis>
        <BookValue>1405264</BookValue>
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      <Buildings>
        <OtherCostOrOtherBasis>12473024</OtherCostOrOtherBasis>
        <Depreciation>6922341</Depreciation>
        <BookValue>5550683</BookValue>
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      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>378115</OtherCostOrOtherBasis>
        <Depreciation>314501</Depreciation>
        <BookValue>63614</BookValue>
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      <Equipment>
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        <BookValue>1987041</BookValue>
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      <OtherLandBuildings />
      <TotalOfBookValueLandBuildings>9006602</TotalOfBookValueLandBuildings>
      <FederalIncomeTaxLiability>0</FederalIncomeTaxLiability>
      <OtherLiabilities>
        <Description>CHARITABLE REMAINDER TRUST</Description>
        <Amount>145635</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>CHARITABLE GIFT ANNUITY RESERV</Description>
        <Amount>398121</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>COMPENSATION AND RELATED ACCRU</Description>
        <Amount>6408068</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>PENSION AND DEFERRED COMPENSAT</Description>
        <Amount>21371982</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>ACCRUED POSTRETIREMENT BENEFIT</Description>
        <Amount>2618336</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>30942142</TotalOfAmounts>
      <TotalRevenue>153872987</TotalRevenue>
      <TotalExpenses>147375977</TotalExpenses>
      <ExcessOrDeficitForYear>6497010</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>-670515</NetUnrealizedGLOnInvestments>
      <OtherAmount>-13330568</OtherAmount>
      <TotalAdjustments>-14001083</TotalAdjustments>
      <ExcessOrDeficitPerFS>-7504073</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>153202472</TotRevenueEtcAuditedFinclStmt>
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      <RevenueNotRptdF990>-670515</RevenueNotRptdF990>
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      <TotalRevenuePerForm990>153872987</TotalRevenuePerForm990>
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      <ExpensesSubtotal>147375977</ExpensesSubtotal>
      <TotalExpensesPerForm990>147375977</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
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        <Explanation>WORKS OF ART AND OTHER SIMILAR ASSETS ARE HELD ON DISPLAY AT DUCKS UNLIMITED, INC. OFFICES FOR THE EDUCATION OF MEMBERS, VOLUNTEERS, AND THE GENERAL PUBLIC OF THE CRITICAL NEED FOR WETLANDS AND ASSOCIATED UPLANDS HABITAT RESTORATION.</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
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        <ReturnReference>PART V, 4</ReturnReference>
        <Explanation>THE CURRENT FUND BALANCES SUPPORT PROGRAM WORK IN MONITORING EASEMENTS, LAND ACQUISITIONS, WETLANDS RESTORATION AND RESEARCH. DUCKS UNLIMITED, INC. WILL WORK WITH PROSPECTIVE DONORS ON THE TERMS AND CONDITIONS OF OTHER ENDOWMENT FUNDS, INCLUDING NAMED FUNDS, PROVIDED THEY SUPPORT APPROPRIATE CONSERVATION, PUBLIC POLICY, OR RESEARCH ACTIVITIES.</Explanation>
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        <Identifier>FIN 48</Identifier>
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    </IRS990ScheduleD>
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      <AcctsActvsOutUSTable>
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      <GrantsToOrgsOutsideUS>
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      <GrantsToOrgsOutsideUS>
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      <BoycottCountries>false</BoycottCountries>
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      <EmailSolicitations>X</EmailSolicitations>
      <PhoneSolicitations>X</PhoneSolicitations>
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      <LicensedStates>HI</LicensedStates>
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      <LicensedStates>LA</LicensedStates>
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      <LicensedStates>VA</LicensedStates>
      <LicensedStates>WA</LicensedStates>
      <LicensedStates>WV</LicensedStates>
      <LicensedStates>WI</LicensedStates>
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      <Form990ScheduleJPartII>
        <NamePerson>ROBERT D MIMS</NamePerson>
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        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
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        <NamePerson>SCOTT A SUTHERLAND</NamePerson>
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        <NamePerson>DONALD A YOUNG</NamePerson>
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        <NamePerson>THOMAS W FULGAM</NamePerson>
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        <Identifier>VARIABLE COMPENSATION</Identifier>
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      </Form990ScheduleJPartIII>
      <Form990ScheduleJPartIII>
        <Identifier>RECEIPIENTS OF SUPPLEMENTAL RETIREMENT PLANS</Identifier>
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      </Form990ScheduleJPartIII>
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      <Form990ScheduleLPartIII>
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      </Form990ScheduleLPartIII>
      <Form990ScheduleLPartIII>
        <NameOfInterestedPerson>PAUL BONDERSON</NameOfInterestedPerson>
        <RelationshipWithOrganization>SENIOR VICE PRESIDENT</RelationshipWithOrganization>
        <AmountOfGrant>3610</AmountOfGrant>
        <TypeOfAssistance>EDUCATION</TypeOfAssistance>
      </Form990ScheduleLPartIII>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>JAMES PIKE</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>FORMER BOARD MEMBER</Relationship>
        <AmountOfTransaction>1173496</AmountOfTransaction>
        <DescriptionOfTransaction>MERCHANDISE PURCHASE</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleM documentId="IRS990ScheduleM">
      <WorksOfArt />
      <ArtHistoricalTreasures />
      <ArtFractionalInterest />
      <BooksAndPublications />
      <ClothingAndHouseholdGoods />
      <CarsAndOtherVehicles />
      <BoatsAndPlanes />
      <IntellectualProperty />
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>24</NumberOfContributions>
        <NoncashContribsRptdF990>899172</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>MARKET VALUE</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <SecuritiesCloselyHeldStock />
      <SecuritiesPrtnrshpTrustIntrsts />
      <SecuritiesMiscellaneous />
      <QualifiedContribHistStruct />
      <QualifiedContribOther />
      <RealEstateResidential />
      <RealEstateCommercial />
      <RealEstateOther />
      <Collectibles>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>10580</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>APPRAISAL</MethodOfDeterminingRevenues>
      </Collectibles>
      <FoodInventory />
      <DrugsAndMedicalSupplies />
      <Taxidermy />
      <HistoricalArtifacts />
      <ScientificSpecimens />
      <ArchaeologicalArtifacts />
      <NumberOf8283Received>25</NumberOf8283Received>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>true</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>true</ThirdPartiesUsed>
      <Form990ScheduleMPartII>
        <Identifier>THIRD PARTY USE</Identifier>
        <ReturnReference>32B</ReturnReference>
        <Explanation>DUCKS UNLIMITED, INC. UTILIZES THE SERVICES OF A BROKERAGE FIRM TO PROCESS &amp; LIQUIDATE GIFTS OF MARKETABLE SECURITIES.</Explanation>
      </Form990ScheduleMPartII>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <GeneralExplanation>
        <Identifier>OTHER PROGRAM SERVICE</Identifier>
        <ReturnReference>PART III, 4D</ReturnReference>
        <Explanation>DUCKS UNLIMITED, INC. MAINTAINS A PUBLIC POLICY PRESENCE IN WASHINGTON, DC BECAUSE OF THE CRITICAL IMPORTANCE OF PUBLIC POLICY TO MAINTAINING WETLANDS AND ECOSYSTEMS THAT SUPPORT MIGRATORY WATERFOWL.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>990 COMMITTEE DISTRIBUTION</Identifier>
        <ReturnReference>PART VI, 11</ReturnReference>
        <Explanation>A COPY OF THE 990 IS DISTRIBUTED TO A COMMITTEE MADE UP OF A NUMBER OF KEY BOARD MEMBERS (THE PERSONNEL POLICY COMMITTEE). ONCE THE COMMITTEE HAS HAD ENOUGH TIME TO REVIEW THE 990, A COMMITTEE MEETING IS HELD TO REVIEW AND APPROVE THE 990 FOR FILING. ONCE APPROVED, THE 990 IS DISTRIBUTED TO THE FULL BOARD.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION DETERMINATION</Identifier>
        <ReturnReference>PART VI, 15A AND B</ReturnReference>
        <Explanation>IN 2011, AN INDEPENDENT CONSULTANT SPECIALIZING IN EXECUTIVE COMPENSATION PLANS SURVEYED SIMILAR NOT-FOR-PROFIT ORGANIZATIONS FOR THEIR COMPENSATION PLANS FOR TOP EXECUTIVES. THE SURVEY INCLUDED ANALYSIS ON ALL UPPER MANAGEMENT POSITIONS, INCLUDING CEO, CFO, MANAGER OF CONSERVATION, MANAGER OF DEVELOPMENT, MANAGER OF FUNDRAISING, IT MANAGER, HR MANAGER, AND COMMUNICATIONS MANAGER. THE PERSONNEL POLICY COMMITTEE REVIEWED THE RESULTS AND THE SURVEY IS DOCUMENTED IN THE MINUTES TO THE MEETING. THE PERSONNEL POLICY COMMITTEE MAKES RECOMMENDATIONS TO THE BOARD OF DIRECTORS REGARDING SALARY AND BENEFITS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OFFICER ELECTION PROCESS</Identifier>
        <ReturnReference>PART VI, 6 AND 7A</ReturnReference>
        <Explanation>DUCKS UNLIMITED, INC. IS A MEMBERSHIP ORGANIZATION. THE OFFICERS OF DUCKS UNLIMITED, INC. (DUI), OTHER THAN THE CHIEF EXECUTIVE OFFICER AND EXECUTIVE SECRETARY, SHALL BE ELECTED FROM THE MEMBERS OF DUI. ONLY THOSE INDIVIDUALS THAT ARE CURRENT MEMBERS OF DUI SHALL BE ELIGIBLE TO SERVE AS AN OFFICER. THE AFFAIRS OF DUI ARE MANAGED BY THE BOARD OF DIRECTORS. UPON DISSOLUTION OR WINDING UP OF DUI, ITS ASSETS REMAINING AFTER PAYMENT, OR PROVISION FOR PAYMENT, OF ALL DEBTS AND LIABILITIES OF DUI SHALL BE DISTRIBUTED TO A NONPROFIT FUND, FOUNDATION OR CORPORATION WHICH IS ORGANIZED AND OPERATED FOR CHARITABLE PURPOSES AND WHICH HAS ESTABLISHED ITS TAX EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE IRS CODE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>PUBLIC AVAILABILITY OF DOCUMENTS AND POLICIES</Identifier>
        <ReturnReference>PART VI, 19</ReturnReference>
        <Explanation>DUCKS UNLIMITED, INC. MAKES ITS' CONSOLIDATED FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC ON ITS' WEB SITE (DUCKS.ORG).</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPLIANCE POLICY</Identifier>
        <ReturnReference>PART VI, 12C</ReturnReference>
        <Explanation>EMPLOYEE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED VIA AN ANNUAL CONFLICT OF INTEREST SURVEY. ALL EMPLOYEES ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS TO AN INDEPENDENT PARTY (THE INTERNAL AUDITOR). IF A CONFLICT IS NOTED DURING THIS PROCESS, IT IS RESOLVED THROUGH DISCUSSIONS WITH UPPER MANAGEMENT, HUMAN RESOURCES, THE EMPLOYEE, HIS/HER DIRECT SUPERVISOR AND THE INTERNAL AUDITOR. BOARD MEMBERS AND COMMITTEE MEMBERS ARE REQUIRED TO PRESENT ANNUALLY POSSIBLE CONFLICTS OF INTEREST TO THE BOARD OF GOVERNANCE COMMITTEE WHO THEN MAKES A RULING ON WHETHER THE CONFLICT OF INTEREST REALLY EXISTS. IF THERE IS A CONFLICT, THE COMMITTEE THEN PRESENTS THE FACTS AND SUGGESTED RESOLUTION TO THE BOARD OF DIRECTORS FOR A VOTE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>RECONCILIATION OF NET ASSETS</Identifier>
        <ReturnReference>PART XI, LINE 5</ReturnReference>
        <Explanation>CHANGES IN NET ASSETS OR FUND BALANCE IS RELATED TO UNREALIZED INVESTMENT INCOME AND PENSION AND POST-RETIREMENT BENEFIT LIABILITY ADJUSTMENTS OTHER THAN NET PERIODIC COSTS. NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS (670,515) PENSION AND POST RETIREMENT BENEFIT LIABILITY ADJUSTMENTS OTHER THAN NET PERIODIC COSTS (13,330,568) ________________________________________________________________________ TOTAL (14,001,083)</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:JOHN R. POPE TITLE:CHAIRMAN OF THE BOARD HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:ROBERT S. HESTER,JR. TITLE:TREASURER HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:JOHN W. NEWMAN TITLE:PRESIDENT HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:GEORGE DUNKLIN, JR. TITLE:FIRST VICE PRESIDENT HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:PAUL R. BONDERSON, JR. TITLE:SENIOR VP, CONSERVATION PGRM HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:MIKE BENGE TITLE:SENIOR VP, DEVELOPMENT HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:BRUCE LEWIS TITLE:AT-LARGE MEMBER OF THE BOD HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:JOHN TOMKE TITLE:DUCKS UNLIMITED DE MEXICO HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:JOHN W. CHILDS TITLE:PRES., WETLANDS AMERICA TRUST HOURS:10</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:BILL D'ALONZO TITLE:SVP BUSINESS PLANNING HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:RANDY L. GRAVES TITLE:CHIEF ADMINISTRATIVE OFFICER HOURS:5</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:DANIEL P. THIEL TITLE:EXECUTIVE SECRETARY/COO WAT HOURS:20</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>HOURS DEVOTED FOR RELATED ORGANIZATION</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>NAME:ROBERT D. MIMS TITLE:CONTROLLER HOURS:5</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>WETLANDS AMERICA TRUST INC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>ONE WATERFOWL WAY</AddressLine1>
          <City>MEMPHIS</City>
          <State>TN</State>
          <ZIPCode>38129</ZIPCode>
        </AddressUS>
        <EIN>363330394</EIN>
        <PrimaryActivities>CONSERVATION</PrimaryActivities>
        <LegalDomicileState>DC</LegalDomicileState>
        <ExemptCodeSection>501(c)(3)</ExemptCodeSection>
        <PublicCharityStatus>11A</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>DUI</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>true</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>true</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>true</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>true</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>true</SharingOfFacilities>
      <SharingOfPaidEmployees>true</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>DUCKS UNLIMITED INC GROUP RETURN</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>1C</TransactionType>
        <AmountInvolved>34421772</AmountInvolved>
        <MethodOfAmtDetermination>FMV</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>WETLANDS AMERICA TRUST INC</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>1D</TransactionType>
        <AmountInvolved>6771665</AmountInvolved>
        <MethodOfAmtDetermination>FMV</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>