Hudson Highlands Fjord Trail, Inc. (HHFT) is a 501(c)3 public charity (structured as a 509(a)3 supporting organization of Scenic Hudson, Inc.). HHFT is separately managed and separately funded, and thus responsible for its own fundraising. Total unrestricted revenue, gains and support for the year was $8,602,403, including assets released from restriction. These resources enabled HHFT to continue investing in the planning, stewardship, construction, and partnerships needed to move both the capital project and HHFT’s broader mission forward. Additionally, HHFT received $58,105,000 in restricted revenue through philanthropic support designated to fund future Fjord Trail construction. Total expenses were $7,898,448. The largest portion—$5,048,205—supported techni- cal, planning, and early construction activities that are critical to advancing the Fjord Trail capital project. Programs and outreach totaled $1,146,476, reflecting ongoing commit- ments to natural resource management, land stewardship, and community engagement. Operational expenses, including $814,866 in administration, $559,686 in facilities, and $329,215 in fundraising, ensure the organization has the capacity to carry out its work responsibly and effectively. Financial Summary Thanks to the generosity of our supporters, HHFT maintained strong financial momentum in fiscal year 2025 while continuing to advance its mission to create and steward a 7.5-mile linear park along the Hudson River. 14 H U DS ON H I G H L AND S FJ OR D T R AI L ANNUAL R E P ORT 2025