Pheasants Forever Inc.

“- Pheasants Forever, Inc. believe that the long-term control of wildlife habitat is often in the best interest of both the public and wildlife. Conservation easements provide one mechanism by which the organization can facilitate long-term control without the upfront expense and long term operational costs of land ownership. On-going monitoring and enforcement are important components of successful conservation easements. The following steps will be conducted for each Pheasant Forever owned conservation easement. Baseline survey - Pheasants Forever staff will evaluate the property with the owners to document the property's resource values (current and potential), boundaries, and potential threats and hazards. The Baseline Survey will be conducted using The Forever Land Trust Baseline Documentation Checklist. The Baseline Survey should be conducted within one year of acquiring the interest and the landowner should be involved whenever possible. Monitoring - Pheasants Forever staff and/or volunteers will conduct annual on-site or aerial monitoring of all conservation easements to evaluate current resource conditions and to document existing or potential threats to the easement. To the extent practicable, the persons involved in monitoring should have pertinent information from the Baseline Survey for comparison with current conditions. A monitoring report will be filed and maintained along with the Baseline Survey in Pheasant Forever's files at the National Office. The Public Finance Director will immediately be notified of any perceived threats. Enforcement - Any necessary enforcement action is to be undertaken by Pheasants Forever's Public Finance Director in conjunction with local staff. Easement Modifications - Easements may be modified only if the protected resources will benefit from a modification. Any modification request should be sent to the Public Finance Director for evaluation. The Chief Executive Officer must approve any modification.”

“A conservation easement is a voluntary, legal enforceable agreement between a landowner and another entity in which the landowner gives up certain rights to use or modify their land subject to the terms of the easement. The entity agrees to monitor and enforce conditions within the agreement throughout the life of the easement (usually in perpetuity). In certain cases, the Organization acquires, or accepts as a donation, easements that provide conservation benefits consistent with the Organization's mission. Conservation easements that are purchased are recorded as program expense in the year acquired. Contributed easements are recorded as contribution income and program expense based on appraisal or other estimated value.”

“Wildlife Conservation Experience Fund - The Wildlife Conservation Experience Fund is meant to perpetually fund annual engagement activities, events and/or programs for high school aged students that have interest in wildlife conservation, hunting and/or shooting sports. Students are provided the opportunity to learn skills and explore a variety of careers and current issues relevant to conservation and the outdoor recreation industry. As much as possible, opportunities are offered to students through authentic, experiential learning activities. When and where possible, resource professionals and representatives from the outdoor recreation industry provide sessions that emphasize the opportunities and career paths students can pursue. Forever Shooting Sports Fund - The Forever Shooting Sports Fund will perpetually fund actions that support those priorities mentioned above at the chapter and/or local level. Examples of such are chapter incentives, leveraging local support for programs, the Adopt a Team program, activity cost sharing, etc. Dependent upon organizational chapter priorities, this program may provide other incentives for shooting sports initiatives in the future. Habitat Education Fund - This fund is used to fund opportunities to educate youth and others about conservation programs. Forever Stewardship Fund - The Forever Stewardship Fund is used to fund the obligation that Organization has for on-going monitoring and enforcement of the easements acquired.”

“The Organization has been granted exempt status for federal and state corporate income taxes purposes under Section 501(c)(3) of the Internal Revenue Code and applicable state codes. It has been classified as an organization that is not a private foundation. Therefore, charitable contributions are tax deductible. The Organization follows the guidance outlined in the Income Tax Topic of FASB Accounting Standards Codification. The Organization is subject to unrelated business income tax on advertising revenues and merchandise sales. The Organization projects no income tax liability for the year ended June 30, 2020. The two single member limited liability companies owned by Organization are disregarded entities for income tax purposes and follow the same tax treatment as the Organization.”

“Cost of membership premiums -$660,670.”

“Cost of habitat seed sold -$2,455,100.”

“Cost of habitat seed sold $2,455,100.”

“Cost of membership premium $660,670.”