The Trustees of Reservations

“The trustees of reservations and massachusetts land conservation trust follow the land trust alliance standards and practices and land trust accreditation commission guidance documents, as the appropriate guidelines for the documentation, monitoring and enforcement of perpetual restrictions. Baseline documentation reports that meets irs standards are always completed and acknowledged at or before the time of recording, and updated periodically. The organization conducts annual ground monitoring of its restrictions, with inspections documented through signed monitoring forms, route maps and photographs taken of the property. Accurate computer maps of every restriction are maintained and regularly updated by our geographic information system program staff. Enforcement of provisions of restrictions are timely, reasonable and proportionate to the materiality and seriousness of the violation. Determination and application of enforcement strategy is the responsibility of the conservation restriction program staff under the oversight of the land conservation committee and the board of directors. Independent legal advice is obtained in the case of serious enforcement matters.”

“Conservation easements are expensed as incurred if purchased. Donated conservation easements are not recorded in the organization's financial statements.”

“Collections, which were acquired through purchases and contributions since the organization's inception in 1891, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Contributions of collection items are not reflected on the statement of activities.”

“The trustees of reservations' (the trustees) mission is to preserve, for public use and enjoyment, properties of exceptional scenic, historic, and ecological value in massachusetts. In addition to protecting land and open space, the trustees cares for and shares an incredible array of historic homes and gardens, cultural landscapes and object collections that span 300 years of history. Amongst the museum houses owned by the trustees, five are national historic landmarks. The organization's historic collections include books, manuscripts, fine and decorative arts, household goods, photos and paintings that provide a valuable interpretive tool to connect visitors to the land and its history. Additionally, the collections serve as an historical record that is consulted by staff and volunteers in preserving the properties. The collections are also made available to researchers for the purpose of advancing the scholarship of massachusetts history and culture.”

“The organization's affiliates, hilltown land trust and decordova and dana museum & park, had investments included in the portfolio of the trustees of reservations which were reported on its balance sheets.”

“The organization's endowment funds are used for property support, land conservation, educational programs, historic resources and other general operating expenses.”

“The trustees accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The trustees has identified its tax status as a tax exempt entity and its determination as to its income being related or unrelated as its only significant tax positions and has determined that such tax positions do not result in an uncertainty requiring recognition. The trustees is not currently under examination by any taxing jurisdiction. Federal and state income tax returns are generally open for examination for three years following the date filed.”

“Change in the value of split interests 102,515. Land grant transfer to mlct -557,994.”

“Cost of goods sold -1,394,198. Rental expenses -2,790,504. Special event expenses -511,547.”

“Cost of goods sold 1,394,198. Rental expenses 511,547. Special event expenses 2,790,504.”

“Land grant transfer to mlct 557,994. Change in the value of split interests -102,515.”