Civic Intelligence

Tar River Land Conservancy

990 • Fiscal year 2024 • EIN 31-1742900

Oct 01, 2023 to Sep 30, 2024 • Filed on May 14, 2025

P O Box 1161Louisburg, NC 27549

(919) 496-5902

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

13th percentile

0.05x

Higher debt load relative to revenue than 13% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

13th percentile

-16%

Higher net margin than 13% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

84th percentile

$517,900

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 42.5% of source-year revenue.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

41st percentile

3.2%

Faster asset growth than 41% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

8th percentile

-27%

Faster revenue growth than 8% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$26,159,438

Up $811,034 (+3.2%) from 2023

Net Assets

Up

$26,103,929

Up $778,245 (+3.1%) from 2023

Liabilities

Up

$55,509

Up $32,789 (+144%) from 2023

Revenue

Down

$1,217,967

Down $440,631 (-27%) from 2023

Expenses

Up

$1,412,022

Up $610,112 (+76%) from 2023

Net Income

Down

-$194,055

Down $1,050,743 (-123%) from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2016: $4,926,171Liabilities 2016: $3,552Net Assets 2016: $4,922,6192016Assets 2017: $9,165,907Liabilities 2017: $5,475Net Assets 2017: $9,160,4322017Assets 2018: $12,254,761Liabilities 2018: $10,989Net Assets 2018: $12,243,7722018Assets 2019: $15,946,624Liabilities 2019: $10,727Net Assets 2019: $15,935,8972019Assets 2020: $17,861,255Liabilities 2020: $65,818Net Assets 2020: $17,795,4372020Assets 2021: $25,160,810Liabilities 2021: $9,670Net Assets 2021: $25,151,1402021Assets 2022: $24,041,368Liabilities 2022: $3,657Net Assets 2022: $24,037,7112022Assets 2023: $25,348,404Liabilities 2023: $22,720Net Assets 2023: $25,325,6842023Assets 2024: $26,159,438Liabilities 2024: $55,509Net Assets 2024: $26,103,9292024Assets 2025: $27,424,282Liabilities 2025: $73,467Net Assets 2025: $27,350,8152025

Highlighted filing

2024

Assets$26,159,438
Liabilities$55,509
Net Assets$26,103,929

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2016: $2,654,890Expenses 2016: $590,488Net Income 2016: $2,064,4022016Revenue 2017: $4,846,017Expenses 2017: $786,826Net Income 2017: $4,059,1912017Revenue 2018: $4,126,494Expenses 2018: $1,415,957Net Income 2018: $2,710,5372018Revenue 2019: $9,011,487Expenses 2019: $5,327,146Net Income 2019: $3,684,3412019Revenue 2020: $1,980,274Expenses 2020: $575,135Net Income 2020: $1,405,1392020Revenue 2021: $7,030,370Expenses 2021: $508,051Net Income 2021: $6,522,3192021Revenue 2022: $1,149,745Expenses 2022: $679,622Net Income 2022: $470,1232022Revenue 2023: $1,658,598Expenses 2023: $801,910Net Income 2023: $856,6882023Revenue 2024: $1,217,967Expenses 2024: $1,412,022Net Income 2024: -$194,0552024Revenue 2025: $2,344,736Expenses 2025: $1,428,234Net Income 2025: $916,5022025

Highlighted filing

2024

Revenue$1,217,967
Expenses$1,412,022
Net Income-$194,055
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$1,217,967
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,572,705$17,766,522▲ $2,193,817
Investments in Publicly Traded Securities$8,911,026$7,777,151▼ $1,133,875
Savings and Temporary Cash Investments$573,103$297,901▼ $275,202
Cash and Non-Interest-Bearing Accounts$225,830$214,742▼ $11,088
Pledges and Grants Receivable$51,263$60,319▲ $9,056
Prepaid Expenses and Deferred Charges$9,933$8,140▼ $1,793
Total Assets$25,348,404$26,159,438▲ $811,034
Other Assets Total$4,544$34,663▲ $30,119
Liabilities
Other Liabilities$14,104$43,404▲ $29,300
Accounts Payable and Accrued Expenses$8,616$12,105▲ $3,489
Total Liabilities$22,720$55,509▲ $32,789
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,088,561$21,648,863▲ $2,560,302
Net Assets With Donor Restrictions$6,237,123$4,455,066▼ $1,782,057
Total Net Assets Fund Balance$25,325,684$26,103,929▲ $778,245
Total Liabilities and Net Assets / Fund Balance$25,348,404$26,159,438▲ $811,034

Asset Categories

AssetBook ValueDepreciationBasis
Land$17,288,260-$17,288,260
Buildings$365,218$49,124$414,342
Equipment$113,044$37,775$150,819

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,848,040$33,375▲ $69,087-$2,355,314
2022$1,615,886$60,150▲ $67,125-$1,848,040
2021$2,034,791$45,600▲ $96,015-$1,615,886
2020$1,720,111$44,700▲ $34,815-$2,034,791
2019$1,511,467$87,400▲ $36,703-$1,720,111
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Derek HalbergIndependentFT$517,900-$517,900
-Independent Contract--$517,900$517,900
Angela Parker AllenExecutive Di-$131,600$3,939$135,539

Board Members and Trustees

NameTitle
Gary a HarrisPresident
Alvin BraswellDirector
Boyd SturgesDirector
Ernie AverettDirector
Nola Reed KnouseDirector
Robert CovingtonDirector
Tim BevacquaDirector
Tyler Ray BlackDirector
-Secretary/tr
David CobbVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$719,938
Program Service Revenue
$60,073
Investment Income
$378,447
Other Revenue
$59,509
All Other Contributions
$189,977
Change in Net Assets
$-194,055

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$124,000
Total Noncash Contributions1$124,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,217,967
Total Revenue per Audited Statements
$1,217,967
Total Revenue per Form 990
$1,217,967
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,002,168
Salaries, Compensation, and Employee Benefits$409,854
Total Fundraising Expense$7,422
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$175,840$46,202$3,027$225,069
Current Officers, Directors, Trustees, and Key Employees$106,912$22,517$2,171$131,600
All Other Expenses$68,956$11,577$973$81,506
Other Expenses$28,062$3,506$220$28,062
Payroll Taxes$21,145$6,058$357$27,560
Other Employee Benefits$17,894$7,474$257$25,625
Insurance$18,757$1,780$111$20,648
Depreciation Depletion$15,852$3,286$193$19,331
Travel$18,656$578$41$19,275
Office Expenses$2,630$902$72$3,604
Total Functional Expenses$1,300,720$103,880$7,422$1,412,022

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,412,022
Total Expenses per Audited Statements$1,412,022
Total Expenses per Form 990$1,412,022
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Linda FisherFormer DirectorPerm Conserv EasemenNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Inflow of Res-leases$33,655
Accrued Vacation Payable$8,349
Security Deposits$1,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 9

Layman enterprise, llc 5336 wayne road chambersburg, pa 17202

Form 990, Page 6, Part VI, Line 11B

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

Form 990, Page 6, Part VI, Line 12C

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.

Form 990, Page 6, Part VI, Line 19

Documents available upon request

Filing and Contact Details

Filer

Filer Name
Tar River Land Conservancy
EIN
31-1742900
Phone
9194965902
Address
P O BOX 1161, LOUISBURG, NC 27549

Signing Officer

Name
Robert Covington
Title
President
Phone
9194965902
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Derek Halberg
Formed
2000
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
8
Volunteers
75

Preparer

Firm
Winston Williams Creech Evans & Co Llp
Address
PO BOX 1366, OXFORD, NC 27565-0487
Preparer
Carleen P Evans
Phone
9196935196
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

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.

Form 990, Page 2, Part III, Line 4D

Tar river land conservancy achieved its land protection mission through the following actions: 4) purchased fee simple title to 57.501 acres in granville county, which land provides buffers to knap of reeds creek. 5) purchased fee simple title to 246.66 acres in nash county, which land provides buffers to fishing creek. 6) acquired fee simple title to 20.11 acres, which land provides buffers to unnamed tributaries in the upper neuse river basin and adjoins a larger tract of trlc protected land. 7) received a donation of a conservation easement to 42.59 acres, which land provides buffers to swift creek. This conservation easement is tied to a mitigation project. 8) purchased fee simple title to 50.07 acres, which land provides buffers to fishing creek. 9) awarded accreditation renewal by the land trust accreditation commission. Renewal of accreditation requires that a land trust demonstrate financial accountability, strong organizational leadership, sound transactions and lasting stewardship of the lands they conserve. 10) spent significant time and resources on land protection projects located in granville county, which lands will provide a buffer for camp butner and local resources. 11) spent significant time and resources on land protection projects located in person county, which lands will provide a buffer for flat river and local resources. 12) spent significant time and resources on land protection projects and outreach to landowners in halifax and nash counties, which lands provide buffers to fishing creek and little fishing creek. 13) monitored conservation easements and fee properties held by trlc. 14) monitored 75 conservation easements held by the state of north carolina. 15) worked to improve the water quality for fishing creek by planting over 30,000 trees, removing old buildings, and decommissioning an animal waste lagoon on a farm formerly used for hog production in halifax county that was purchased by trlc last year. The clean-up and transformation of this property is a multi-year project. 16) continued to improve public access to nature trails in granville county by adding two new trail loops to an existing preserve, by maintaining existing trails through the work of a crew of dedicated local volunteers and other groups, and by working to complete an additional network of trails that should be opened to the public during the next fiscal year.

Financial Statement Notes

Schedule D, Page 1, Part II, Line 5

Conservation easement enforcement policy was adopted in 2011 by the board of directors.

Schedule D, Page 1, Part II, Line 9

Conservation easements are not reported as interests in land in the revenue and expense statement. The income received from grants and other donations for the acquisitiion of easements are reported and the expenses related to the acquisition of easements are reported as expenses. Easements are listed as an item on the balance sheet. Tar river land conservancy acquires conservation easements through a number of ways. Easements are sometimes donated, giving the donors opportunity for income tax and estate tax benefits. When available financial resources are present, trlc may purchase the easement from a landowner. This practice isgenerally referred to as purchasing development rights or "pdr". No value is recorded for thes pdrs, as they cannot be sold or transferred and cannot be encumbered. Trlc currently holds 98 conservation easements.

Schedule D, Page 2, Part V, Line 4

The organization's endowment funds are used for the stewardship and legal defense of conservation easements held by the organization and for the stewardship and legal defense of fee properties owned by the organization.

Schedule D, Page 3, Part X

Tar river land conservancy does not believe there are any unrecognized tax benefits or costs as of september 30, 2024. Income tax returns from 2021 through 2023 are open to examination by tax authorities.

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IRS990/MissionDesc0TAR 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.
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IRS990/ProgSrvcAccomActy2Grp/Desc0PURCHASED A CONSERVATION EASEMENT ON 61.43 ACRES IN HALIFAX COUNTY, WHICH LAND PROVIDES BUFFERS TO FISHING CREEK.
IRS990/ProgSrvcAccomActy3Grp/Desc0PURCHASED A CONSERVATION EASEMENT ON 33.8 ACRES IN NASH COUNTY, WHICH LAND PROVIDES BUFFERS TO FISHING CREEK.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TAR RIVER LAND CONSERVANCY ACHIEVED ITS LAND PROTECTION MISSION THROUGH THE FOLLOWING ACTIONS: 4) PURCHASED FEE SIMPLE TITLE TO 57.501 ACRES IN GRANVILLE COUNTY, WHICH LAND PROVIDES BUFFERS TO KNAP OF REEDS CREEK. 5) PURCHASED FEE SIMPLE TITLE TO 246.66 ACRES IN NASH COUNTY, WHICH LAND PROVIDES BUFFERS TO FISHING CREEK. 6) ACQUIRED FEE SIMPLE TITLE TO 20.11 ACRES, WHICH LAND PROVIDES BUFFERS TO UNNAMED TRIBUTARIES IN THE UPPER NEUSE RIVER BASIN AND ADJOINS A LARGER TRACT OF TRLC PROTECTED LAND. 7) RECEIVED A DONATION OF A CONSERVATION EASEMENT TO 42.59 ACRES, WHICH LAND PROVIDES BUFFERS TO SWIFT CREEK. THIS CONSERVATION EASEMENT IS TIED TO A MITIGATION PROJECT. 8) PURCHASED FEE SIMPLE TITLE TO 50.07 ACRES, WHICH LAND PROVIDES BUFFERS TO FISHING CREEK. 9) AWARDED ACCREDITATION RENEWAL BY THE LAND TRUST ACCREDITATION COMMISSION. RENEWAL OF ACCREDITATION REQUIRES THAT A LAND TRUST DEMONSTRATE FINANCIAL ACCOUNTABILITY, STRONG ORGANIZATIONAL LEADERSHIP, SOUND TRANSACTIONS AND LASTING STEWARDSHIP OF THE LANDS THEY CONSERVE. 10) SPENT SIGNIFICANT TIME AND RESOURCES ON LAND PROTECTION PROJECTS LOCATED IN GRANVILLE COUNTY, WHICH LANDS WILL PROVIDE A BUFFER FOR CAMP BUTNER AND LOCAL RESOURCES. 11) SPENT SIGNIFICANT TIME AND RESOURCES ON LAND PROTECTION PROJECTS LOCATED IN PERSON COUNTY, WHICH LANDS WILL PROVIDE A BUFFER FOR FLAT RIVER AND LOCAL RESOURCES. 12) SPENT SIGNIFICANT TIME AND RESOURCES ON LAND PROTECTION PROJECTS AND OUTREACH TO LANDOWNERS IN HALIFAX AND NASH COUNTIES, WHICH LANDS PROVIDE BUFFERS TO FISHING CREEK AND LITTLE FISHING CREEK. 13) MONITORED CONSERVATION EASEMENTS AND FEE PROPERTIES HELD BY TRLC. 14) MONITORED 75 CONSERVATION EASEMENTS HELD BY THE STATE OF NORTH CAROLINA. 15) WORKED TO IMPROVE THE WATER QUALITY FOR FISHING CREEK BY PLANTING OVER 30,000 TREES, REMOVING OLD BUILDINGS, AND DECOMMISSIONING AN ANIMAL WASTE LAGOON ON A FARM FORMERLY USED FOR HOG PRODUCTION IN HALIFAX COUNTY THAT WAS PURCHASED BY TRLC LAST YEAR. THE CLEAN-UP AND TRANSFORMATION OF THIS PROPERTY IS A MULTI-YEAR PROJECT. 16) CONTINUED TO IMPROVE PUBLIC ACCESS TO NATURE TRAILS IN GRANVILLE COUNTY BY ADDING TWO NEW TRAIL LOOPS TO AN EXISTING PRESERVE, BY MAINTAINING EXISTING TRAILS THROUGH THE WORK OF A CREW OF DEDICATED LOCAL VOLUNTEERS AND OTHER GROUPS, AND BY WORKING TO COMPLETE AN ADDITIONAL NETWORK OF TRAILS THAT SHOULD BE OPENED TO THE PUBLIC DURING THE NEXT FISCAL YEAR.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOW OF RES-LEASES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED VACATION PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSITS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CONSERVATION EASEMENT ENFORCEMENT POLICY WAS ADOPTED IN 2011 BY THE BOARD OF DIRECTORS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CONSERVATION EASEMENTS ARE NOT REPORTED AS INTERESTS IN LAND IN THE REVENUE AND EXPENSE STATEMENT. THE INCOME RECEIVED FROM GRANTS AND OTHER DONATIONS FOR THE ACQUISITIION OF EASEMENTS ARE REPORTED AND THE EXPENSES RELATED TO THE ACQUISITION OF EASEMENTS ARE REPORTED AS EXPENSES. EASEMENTS ARE LISTED AS AN ITEM ON THE BALANCE SHEET. TAR RIVER LAND CONSERVANCY ACQUIRES CONSERVATION EASEMENTS THROUGH A NUMBER OF WAYS. EASEMENTS ARE SOMETIMES DONATED, GIVING THE DONORS OPPORTUNITY FOR INCOME TAX AND ESTATE TAX BENEFITS. WHEN AVAILABLE FINANCIAL RESOURCES ARE PRESENT, TRLC MAY PURCHASE THE EASEMENT FROM A LANDOWNER. THIS PRACTICE ISGENERALLY REFERRED TO AS PURCHASING DEVELOPMENT RIGHTS OR "PDR". NO VALUE IS RECORDED FOR THES PDRS, AS THEY CANNOT BE SOLD OR TRANSFERRED AND CANNOT BE ENCUMBERED. TRLC CURRENTLY HOLDS 98 CONSERVATION EASEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S ENDOWMENT FUNDS ARE USED FOR THE STEWARDSHIP AND LEGAL DEFENSE OF CONSERVATION EASEMENTS HELD BY THE ORGANIZATION AND FOR THE STEWARDSHIP AND LEGAL DEFENSE OF FEE PROPERTIES OWNED BY THE ORGANIZATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3TAR RIVER LAND CONSERVANCY DOES NOT BELIEVE THERE ARE ANY UNRECOGNIZED TAX BENEFITS OR COSTS AS OF SEPTEMBER 30, 2024. INCOME TAX RETURNS FROM 2021 THROUGH 2023 ARE OPEN TO EXAMINATION BY TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 1, PART II, LINE 5
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 1, PART II, LINE 9
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 3, PART X
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