Adirondack Land Trust Inc.

“Adirondack land trust has acquired and holds a number of conservation easements, each representing a legal interest in land owned by another person or entity. The easements grant the trust the right to use, control, and/or protect the land for conservation purposes. Because of the unique nature of these assets, the impracticality of obtaining consistent and reliable estimates of the values ascribed to these interests, and consistent with the practices followed by many environmental land trusts, the accompanying financial statements do not include any amounts for these property interests. The trust held 53 conservation easements on 14,086 acres of land at june 30, 2017 and 2016, respectively.”

“The endowment provides stable financial support, playing a critical role in enabling the trust to achieve its mission.”

“The trust is exempt from federal income tax under section 501(c)(3) of the internal revenue code. The trust qualifies for the charitable contribution deduction under section 170 (b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(2). Under accounting standards codification (asc) section 740, the tax status of tax-exempt entities is an uncertain tax position, since events could potentially occur that jeopardize tax-exempt status. Management is not aware of any events that could jeopardize the trust's tax-exempt status. Therefore, no liability or provision for income tax has been reflected in the financial statements.”

“Investment expenses netted against investment income 3,043.”

“Investment expenses netted against investment income 3,043.”

“Part ii, line 5 - written monitoring policy the trust's easements are monitored in the following manner: the easement, monitoring report and photos from the previous year are reviewed. An appointment is made with the land owner to meet on site. The property is inspected paying particular attention to any changes that have taken place over the past year. A map is used to document the route. Notes and photos provide additional documentation. The landowner is asked if any changes may take place over the up coming year. Follow up with the landowner with a cover letter, monitoring form and map of the route taken and photos.”