Blue Ridge Land Conservancy

“Land savers united (lsu)is dedicated to monitoring and preserving the conservation easements it accepts for as long as such easements exist. Because the conservation easements are perpetual in duration, lsu understands that annual monitoring, at a minimum, is necessary to detect changes in the easement lands, to ensure that lands are being used in accordance with the terms of the easements and that any violations of the easements are identified as soon as possible. Furthermore, regular and consistent monitoring will enhance lsu's relationships with the landowners.”

“Lsu records land at cost, if purchased, or at fair value at the date of acquisition, if all or part of the land was received as a donation. Fair value is generally determined by appraisal at the time of acquisition. Upon sale or gift, the book value of the land is reported as a program expense, and the related proceeds, if any, are reported as revenue in the statement of activities. Conservation land is real property with significant ecological value. These properties are either managed in an effort to protect the natural biological diversity of the property, or transferred to other organizations who will manage the lands in a similar fashion. Conservation easements are comprised of rights and/or restrictions over the owned property that are conveyed by a property owner to lsu almost always in perpetuity, in order to protect the owned property as a significant natural area, as defined in federal tax regulations. These easements may be sold or transferred to others so long as the assignee agrees to carry out, in perpetuity, the conservation purposes intended by the original grantor. Conservation easements, by their very nature, do not generate material amounts of cash inflow annually.”

“Irs safe harbor election. Also see attachment.”