A revolving fund is where funds are set aside for the purpose of purchasing properties with natural or cultural values, placing a conservation covenant on the title and reselling the land to conservation-minded people. The proceeds from the sale of properties are used over again to buy more properties and sell them with a conservation covenant in place.
Revolving funds are a vehicle for people who want to donate land that has conservation value, knowing the land will be permanently protected and that when sold, the proceeds will be put towards buying other properties with conservation value.
The following organisations operate revolving funds.
Further reading on revolving funds:
Carter, M. (1997) A Revolving Fund for Biodiversity Conservation in Australia: Australian Case Study on Biodiversity Incentive Measures OECD. (PDF document)