R.O. Ranch, Inc.

In February 2006, the Suwannee River Water Management District and Frank and Olive Schulte organized the formation of a Florida nonprofit corporation entitled R.O. Ranch, Inc. The corporation was formed to develop and manage the R.O. Ranch Equestrian Park for public use and enjoyment, and to promote equestrian activities on other publicly-owned land managed by the Suwannee River Water Management District. The affairs of the corporation are managed by a seven-member board of directors.

 

Once the corporation was formed, the Schultes donated 54% of their Lafayette County ranch to R.O. Ranch Inc. When the District purchased the property in July 2006, the proceeds received by the corporation were deposited in an endowment fund. The interest earned from this endowment is used to cover some of the operational expenses of the park. The R.O. Ranch Board of Directors established a policy to withdraw only 85% of the interest earned in a given year for the subsequent year's operational expenses. Therefore, 15% of the interest earned each year will stay in the endowment to allow for growth and to protect against inflation.

 

Thanks to the Schulte's generous donation and foresight and the District's desire to develop innovative partnerships, Florida's rich natural environment will be preserved and the public will always have a place to ride horses and mules.