Trout Unlimited Inc.

“Annually a TU representative visits the property and speaks with the landowner to review the property and identify any new activities or damages since the last inspection that could affect the property. The representative discusses with the landowner any potential or planned activities concerning the land including, but not limited to, the transfer of the land, agricultural activities, timber harvesting, water development, road construction, and commercial activities.”

“Conservation easements are not reported in the revenue, expense or balance Sheet of TU.”

“CCF Endowment: The fund was developed to support the scientific resource work of TU and was funded through the Russell Memorial Fund ($569,375) and other individual contributions. Up to 15% of the original contribution revenue was allocated to be spent on overhead and administrative costs associated with the Coldwater Conservation Fund program. The remaining portion of the overhead and administrative allocation was spent in fiscal year 2016. A portion of the current investment income from the Endowment's funds are to be spent annually, in accordance with TU's spending policy. Spending rates of 4.5% and 4.5% were set for fiscal years ended September 30, 2017 and 2016. E.T. Teller Endowment: This fund was established in 1995 by the Teller family. Per request by the donor, up to 50% of the annual earnings are available for general operations of TU. The other 50% should be reinvested in the fund. Living Brightwater Endowment: Per a Board resolution passed on June 28, 2016, it was resolved to release the permanent restriction on the fund in its entirety because the original purpose and restricted classification of the donor funds, which were received over a period 30 years ago, was varied or unspecified and several of the targeted programs are no longer implemented.”

“TU is exempt from Federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been made in the accompanying financial statements. TU is not a private foundation. For the years ended September 30, 2017 and 2016, TU documented its consideration of FASB ASC 740-10, Income Taxes, that provides guidance for reporting uncertainty in income taxes and has determined that no material uncertain tax positions qualify for either recognition or disclosure in the financial statements.”

“Endowment Funds were updated to correctly show the amount of temporarily restricted and permanently restricted endowments.”