Otsego Land Trust Inc.

“The Heller, Marc, 2004 amendment corrected an error in the forestry language of the original easement, corrected a property line description and maps between the property and the neighboring property, updated limitations related to square footage limitations in the Building Area to current OLT template, update the entire easement to OLTs current conservation easement template, removed the allowance for unlimited subdivision to limit it to only two, and increase the acreage of the Natural Areas to further protect wetland resources. The Heller, Christine, 2004 amendment corrected an error in the forestry language of the original easement, corrected a property line description and maps between the property and the neighboring property, updated limitations related to square footage limitations in the Building Area to current OLT template, update the entire easement to OLTs current conservation easement template, removed the allowance for unlimited subdivision to limit it to only two, and increase the acreage of the Natural Areas to further protect wetland resources. The Red Creek Ravine, 2008 amendment relinquished two potential Building Area sites that were permitted in the original easement. The amendment also removed the allowance for unlimited subdivision, limiting the number of potential subdivisions to five.”

“REVENUES: ALL OF THE REVENUE IS REPORTED UNDER THE STEWARDSHIP LINE OF THE FINANCIAL STATEMENTSEXPENSES: ALL RELATED EXPENSES ARE REPORTED IN THE PROGRAM COLUMN OF THE FUNCTIONAL EXPENSE.FINANCIAL STATEMENT NOTE: The Organization currently has 103 properties under stewardship. These properties have conservation easements in place. The easements help to protect the distinctive rural character of Otsego area in central New York through securing lands and waters significant scenic, historic, and natural value, including forests and farmlands. For accounting purpose these easements are valued at zero due to the ongoing stewardship obligations incurred in accepting these easements.”

“The Otsego Land Trust, Inc. is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and as such is not subject to Federal Income Tax.The Organization reviews the components of revenues, gains, and other support and analyzes whether the position that the Organization takes with regard to a particular item of income would meet the definition of an uncertain tax position under GAAP.The Organization files information returns in the U.S. federal jurisdiction and New York State jurisdiction. The tax years that remain subject to examination by taxing authorities are generally the previous three years.”

“Fundraising expenses $6692”

“Loss on disposal of property $48654”

“Fundraising expense $6692”

“Loss on disposal of property $48654”