New Mexico Land Conservancy

“The organization maintains a written policy regarding the periodic monitoring, inspections, handling of violations, and enforcement of conservation easements. The organization ensures the conservation purpose of the easement is being achieved by periodically investigating the use or condition of the real property and communicating with the property owner his or her obligations with respect to the easement.”

“Conservation easements property interests: nmlc has acquired and holds a number of conservation easements, each representing a legal interest in land owned by another person or entity and representing nmlc's right to monitor and protect the land for conservation purposes. Nmlc evaluates each easement for its conservation values and then ensures that the terms of the easement will adequately protect these values. Due to the lack of foreseeable future cash flow benefits from the easements and the absence of a secondary easement market, the accompanying financial statements do not include any recorded amounts for these property interests. This accounting policy is consistent with the practices followed by many environmental land trusts. Nmlc does not report the appraised value of these non-cash conservation easement donations as revenue as this would result in an overstatement of nmlc's actual financial assets. Conservation easement acquisition funding agreements: in certain circumstances, nmlc will enter into agreements with governmental entities as a cooperating/sponsorship organization to facilitate the governmental entity or entities participation in acquisition of conservation easements. Upon closing a conservation easement acquisition, where land title is passed through nmlc, nmlc will record revenue and an equal conservation easement acquisition expenditure for amounts that nmlc has passed through the landowner.”

“Nmlc enters into agreements with other organizations in which nmlc acts as a fiscal agent by receiving and disbursing funds on behalf of these organizations. In return for these services, nmlc typically retains a 1% management fee. As of june 30, 2020 and 2019, the amount of funds held- for-others was 121,366 and 8,859, respectively.”

“Nmlc has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding for initiatives supported by its endowments while seeking to maintain the purchasing power of the endowments. In 2020, nmlc was designated as the manager of a long-term management endowment fund for the lost draw prairie chicken conservation bank (ldpccb). As the manager of these funds, nmlc is responsible for ensuring that the endowment principal is permanently restricted. The investment interest income generated from this endowment may be used to fund short and long-term management activities defined in the management plans for the ldpccb and this investment interest income is classified as temporarily restricted. As the endowment manager, nmlc may also annually withdraw a one percent administrative fee from the endowment fund.”

“Nmlc is a nonprofit charitable corporation and has been recognized as tax- exempt under section 501(c)(3) of the internal revenue code. Nmlc has adopted accounting principles generally accepted in the united states of america, as they relate to uncertain tax positions, and has evaluated its tax positions taken for open tax years. Management believes that the activities of nmlc are within their tax-exempt purpose, and that there are no uncertain tax positions that require disclosure or recognition in the financial statements.”

“IMPAIRMENT LOSS -41,988”