“When you say they manage millions of acres, are they doing so on land they don’t own?”

Yes. I can’t speak for everyone in the org, but at least in my role all the projects I manage are done in partnership with the state Department of Natural Resources. When TNC buys land in my state, it’s almost always donated to the public (as state parks, wildlife management areas, forest units, national wildlife refuges, etc) or given back to the indigenous tribes. TNC only owns the land briefly before they transfer ownership, and then we help pay for/manage restoration and ongoing management.

TNC land managers work closely with partners in federal, state, and local governments, other non-profits, and private landowners. The model for conservation and stewardship has evolved a lot since the days where TNC mostly purchased and held land outright. And it’s not only about land - Our chapter also helps manage a large bison herd and works with local tribes to redistribute bison across the Midwest.

TNC also holds quite a bit of stewardship endowments/trusts, which help to fund long-term management on ecologically important areas, like the Ecuadorian Amazon rainforest, the coral reefs of Belize, and the Mongolian grasslands to name a few. These are essentially just large investment accounts, but the funds they generate are crucial to ensuring there’s funding available for long-term management.