The Nebraska Land Trust Inc

“Nlt is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except on net income derived from unrelated business activities. For the year ended december 31, 2024, nlt had no tax liability on unrelated business activity. Nlt believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.”

“IN-KIND”

“The following is the footnote in the financial statements regarding the organization's accounting policy as it relates to conservation easements: conservation easements are permanent, binding agreements between a landowner (and future landowners) and nlt, which are attached to the title of real property specified in the conservation easement agreement. Conservation easements give nlt no claim of ownership or future claim of ownership in the real property to which they are attached. Rather, the conservation easements give rise to a contingent liability in the event that nlt would either have to defend the easement from legal challenge, or use legal means to enforce provisions of the easement. As such, management has reviewed guidance in financial accounting standards board (fasb)accounting standards codification (asc)topic 350 intangibles - goodwill and other and has determined that conservation easements held by nlt do not meet the requirement to recognized as assets. Accordingly, management recognizes all costs associated with acquiring an easement as an expense in the statements of activities in the period in which the easement is acquired. Management records $1 of value associated with each easement, and uses this as a means to show users of the financial statements the number of easements held by nlt. The following is the footnote in the financial statements regarding contingencies associated with conservation easements: as of december 31, 2024, nlt held 58 conservation easements covering approximately 47,920 acres in various locations throughout nebraska. Nlt performs annual monitoring of the property associated with the conservation easements to ensure that terms and conditions of the easements are not violated. In the event that a violation of the easement occurs, nlt will bring any and all action necessary to remedy the violation, including litigation. As of december 31, 2024, there are no easement violations in which litigation has been pursued.”