Thomas Irvine Dodge Nature Center

“The organization's easement documents contain written policies about monitoring, inspecting, handling violations, and enforcement of conservation easements. Upon written or verbal notice, inspections and monitoring may be done to determine if easements is in compliance with provisions of agreements.”

“The easement is recorded at historical value - the value of the land when given to Dodge. The organization recorded the dollar value of the easement as unrestricted revenue. The only expenses incurred were legal fees to record the easement which were reported as unrestricted expenses. During 2008, the Organization granted a conservation easement to Dakota County, Minnesota to assure that the protected property, consisting of approximately 160 acres of land owned by the Organization and known as the Lilly Property, will be retained forever substantially unchanged from its present condition as wetland, grassland, woodland and hiking trails and to prevent any use of the protected property that will significantly impair or interfere with the conservation values. $496,908 was received from Dakota County for the easement. The protected land is permantly restricted due to a donor restriction at the time the land was received to use for the purpose of the Organization and may not be sold. On August 28,2013, the Organization received donated property that has approximately a 146 acre conservation easement on it with the Minnesota Land Trust. This property will be known as the Shepard Property and will be retained as protected land primarily woodlands and agricultural land. The organization intends to permanently retain the Protected Land in its predominantly natural and scenic condition, to restore or protect ecological integrity of the Protected land for educational, scientific, recreational or agricultural activities.”

“Endowment funds support the general operations of the Nature Center and scholarships.”

“Thomas irvine dodge nature center is organized as a minnesota nonprofit corporation and has been recognized by the internal revenue code as exempt from federal income taxes under section 501(a) of the internal revenue code as an organization described in section 501(c)(3), qualifies for the charitable contribution deduction under section 170(b)(1)(a)(vi), and has been determined not to be a private foundation under section 509 (a)(1). The organization is subject to income tax on net income that is derived from business activities that are unrelated to the exempt purpose. The organization has determined it is not subject to unrelated business income tax and has not filed an exempt organization business income tax return (form 990-t) with the irs. The organization beleives that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.”

“Expenses related to the rental of the house are recorded against the rental revenue and not shown as part of the functional expenses. $28,754.”