Citizens Land Conservancy of Hamilton County Oh Inc

“Clc has written policies regarding the conservation easements it holds. This requires clc to evaluate each of its holdings for its conservation values, including threats and opportunities to enhance those conservation values. A formal stewardship plan is implemented based on this analysis which includes annual monitoring and assessment and, if required, the need to address violations and enforce the easement. Some plans include restoration work to replace lost functions and/or to enhance conservation values.”

“Clc has acquired and holds conservation easements, each representing a partial interest in land owned by another person or entity. The easements grant clc the right to enforce agreed restrictions on the use, manner of use and to otherwise protect the land for conservation purposes. Because clc does not hold title to these properties, there are no expected future economic benefits, and consistent with the practices followed by many environmental land trusts, the accompanying financial statements do not include any amounts for these property interests. If purchased, the costs of conservation easements are expensed when the easements are acquired.”

“Clc has four segregated funds maintained to provide future funding for clc activities: long-term operations fund provides a long-term, on-going source of income to cover the annual costs associated with general operating support for clc. Stewardship fund provides a long-term, on-going source of income to cover the annual costs associated with monitoring and managing the portfolio of conservation easements and protected areas. Legal defense fund provides funds to cover extraordinary expenses associated with managing, upholding or defending an easement should its terms or validity be at risk. Land acquisition fund provides funds for the purchase of conservation easements and/or land for conservation purposes.”

“The provisions of the asc standard, accounting for uncertainty in income taxes, clarifies the accounting for the recognition and measurement of uncertainties in income taxes for all entities, including not-for-profit organizations. The organization accounts for uncertain tax positions in accordance with the asc topic, accounting for contingencies, under which liabilities for uncertain tax positions are recognized in the financial statements when it becomes probable a liability has been incurred and the amount can be reasonably estimated.”