Tar River Land Conservancy

“The 990 is reviewed by management and emailed to board members for their review.”

“Board members are provided a copy of the policy annually. They read and sign a statement acknowledging that they have read and understand the policy. At any board meeting where a conflict of interest may arise, the board undertakes an analysis of the situation based on the policy and determines whether or not there is a conflict. If there is a conflict, they handle the issue according to the policy.”

“Documents available upon request”

“Tar river land conservancy preserves the natural and cultural resources of the tar river basin and surrounding areas by working in partnership with private landowners, public agencies and others to protect rural land, riparian corridors and ensure clean water.”

“Tar river land conservancy conveyed two conservation easements, having a total appraised value of 3,302,400, to the north carolina clean water management trust fund concurrent with the purchase of the tracts in fee simple. Tar river land conservancy conveyed one conservation easement, having a total appraised value of 1,550,000, to granville county concurrent with the purchase of a tract in fee simple. These conservation easements were not pre-existing; they were conveyed as a part of the purchase transaction.”

“Tar river land conservancy achieved its land protection mission through the following actions: 4)spent significant time and resources on land protection projects located in granville county, which lands will provide a buffer for camp butner and local water resources. 5)worked to construct hiking trails at the ledge creek conservation area, and engaged local volunteers as a part of the process. 6)hosted six volunteer events, including tree plantings and property cleanups. 7)hosted four well- attended educational hikes, including our annual field day. The events were held on preserved properties in granville county. Trlc also hosted a paddle event on fishing creek in halifax and nash counties. 8)monitored 88 conservation easements held by trlc. 9)monitored 45 conservation easements held by the state of nc. 10)monitored 36 tracts owned outright by trlc. 11)awarded accreditation renewal by the land trust accreditation commission. Renewal of accreditation requires that a land trust demonstrate fiscal accountability, strong organziational leadership, sound transactions and lasting stewardship of the lands they conserve. 12)acquired a building in downtown louisburg to serve as the future home of tar river land conservancy.”

“On august 18, 2016, fasb issued asu 2016-14, not-for-profit entities (topic 958) - presentation of financial statements of not-for-profit entities. The update addresses the complexity and understandability of net asset classification, deficiencies in information about liquidity and availability of resources, and the lack of consistency in the type of information provided about expenses and investment return. Under the provisions of the audit and accounting guide for not-for-profit organizations (the "guide"), net assets and revenues, and gains and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, the net assets of the organization and changes therein are classified as follows: net assets without donor restrictions: net assets that are not subject to donor-imposed restrictions and may be expended for any purpose in performing the primary objectives of the organization. The organization's board may designate assets without restrictions for specific operational purposes from time to time. Net assets with donor restrictions: net assets subject to stipulations imposed by donors, and grantors. Some donor restrictions are temporary in nature; those restrictions will be met by actions of the non-profit organization or by the passage of time. Other donor restrictions are perpetual in nature, where by the donor has stipulated the funds be maintained in perpetuity.”