Tejon Ranch Conservancy

“The form 990 is reviewed by the executive director and the finance committee of the board.”

“THE CONFLICT OF INTEREST POLICY COVERS ALL DIRECTORS AND OFFICERS OF THE ORGANIZATION. IN THE EVENT OF A POTENTIAL CONFLICT OF INTEREST, ALL MATERIAL FACTS ARE REQUESTED TO BE DISCLOSED TO THE BOARD OF DIRECTOR IN ORDER TO DETERMINe WHETHER AN ACTUAL CONFLICT EXISTS. IN THE EVENT OF AN ACTUAL CONFLICT INVOLVING A MATERIAL FINANCIAL INTEREST, THE BOARD OF DIRECTORS REVIEWS THE TRANSACTION. THE BOARD MAY NOT APPROVE UNLESS IT DETERMINES IN GOOD FAITH, AFTER A REASONABLE INVESTIGATION, THAT IT HAS EVALUATED ALL MATERIAL FACTS AND DETERMINED THAT THE TRASANCTION WAS FAIR, REASONABLE, AND MORE ADVANTAGEOUS THAN OTHER OPTIONS WITHOUT REQUIRING MORE EFFORT. MINUTES OF SUCH DELIBERATIONS ARE MAINTAINED AND THE BOARD OF DIRECTORS HAS ACCESS TO LEGAL COUNSEL TO ADVISE ON SUCH MATTERS.”

“Comparability data is provided by an outside consultant for salary and benefit information. The compensation package provided to the executive director was determined and approved by the board of directors.”

“Comparability data is provided by an outside consultant for salary and benefit information. The compensation package provided to the executive director was determined and approved by the board of directors.”

“Documents made available upon request.”

“The conservancy received in-kind donations of services that are reported on the 12/31/2016 compiled financial statements in the amount of $618,489. The donation of services was for legal services and valued by the firm providing the legal services. The services were for management purposes, and not program related.”

“In June, 2008, the conservancy entered into a conservation and land use agreement with Tejon Ranch Company and the Resource Organzations (The Sierra Club, Natural Resources Defense Council, Audobon California, the Planning and Conservation League, and the Endangered Habitats League).Tejon Ranch Company is obligated to make payments of approximately $800,000 per year through 2021 to the Tejon Ranch Conservancy as prescribed in the Conservation Agreement. The advances to the Tejon Ranch Conservancy are dependent on the occurrence of certain events and their timing, and are therefore subject to change in amount and period.The advances the conservancy recieves from Tejon ranch company are a combination of interest free loans (each, an advance) and payment of conservation fees collected at the time of title transfers of residential units within development project areas. The conservation fees will arise from conservation fee covenants that Tejon ranch company will cause to be recorded against the development projects. The covenant will provide for a fee, payable in perpetuity, equal to one quarter percent (.25%) of the retail sales price of each covered transaction. Prior to the conservancy's receipt of the conservation fees, Tejon Ranch Company will advance $800,000 per annum through 2021 to the conservancy. Once transfer fees in excess of $800,000 are collected in any given year, The conservancy will use the excess to repay Tejon ranch company, without interest.”