Massachusetts Land Conservation Trust

“As a land conservation organization, the trustees of reservations and it's affiliate massachusetts land conservation trust follow the land trust alliance standards and practices and the 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 organizations financial statements.”

“Massachusetts land conservation trust (mlct) 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. Mlct 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. Mlct 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.”