Northeast Wilderness Trust Corporation

“Through special fund-raising campaigns, the organization has been able to acquire conservation land through purchase. These properties will be preserved and are reported at the fair value at the time received. It is the organization's policy to base the impaired value on the valuation provided by the town in which it resides based on the first tax bill received after conservation. The organization maintains a policy whereby contributions of donated conservation land that would typically need to be purchased if not provided by donation, is recorded based on the value of the project, which includes the necessary due diligence to accept the donation. It is the organization's policy to base the impaired value on the valuation provided by the town in which it resides based on the first tax bill received after conservation. Conservation easements acquired by or donated to the organization are considered to have no future monetary value to the organization. Therefore, costs to acquire conservation easements are reported in the accompanying statement of functional expenses at the time when incurred.”

“Donor restricted stewardship fund(s) the organization holds a donor-restricted stewardship fund for the protection of various preserves. The organization holds donor-restricted funds for donor-specified uses including the purchase and protection of land. Board designated stewardship fund to provide for the long term stewardship of properties and easements owned, the organization maintains a board designated stewardship fund. The corpus of this fund, along with all of the investment earnings of the organization, is accumulated in this fund and is available to offset stewardship costs incurred. Wild carbon compliance fund the organization holds a wild carbon compliance fund to ensure the availability of funds required for compliance over the lifespan of a carbon project. Board designated operating fund to provide for the long-term operating needs of the organization, the organization maintains a board designated operating fund.”

“Fasb asc 740, income taxes, requires entities to disclose in their financial statements the nature of any uncertainty in their tax positions. For tax exempt entities, tax exempt status itself is deemed to be an uncertainty, as events could potentially occur to jeopardize their tax exempt status. Management believes the organization has no uncertain tax positions. The organization anticipates that it will not have a change in uncertain tax positions during the next twelve months that would have a material impact on the organization's financial statements. If necessary, the organization would accrue interest and penalties on uncertain tax positions as a component of the provision for income taxes. The organization is no longer subject to federal and state income tax examinations by tax authorities for years before 2019.”

“Loss on impairment (non-operating loss) 318,443.”