Catawba Lands Conservancy

“Review of the Form 990 is conducted by the Executive Director, the Finance Director and the Finance Committee. It is reviewed before filing. Prior to filing, a copy of the Form 990 is available to each Board member. Questions and suggestions are an integral part of the review.”

“Each Board member is required to sign a conflict of interest statement prior to joining the Board of Directors. Upon knowledge of a transaction involving a conflict, the details are fully disclosed to the Chairman of the Board and the member with a conflict will not participate in discussions or voting. Board members verify that there is no conflict of interest annually.”

“Compensation of the Executive Director is determined by the Executive Committee. Independent surveys are obtained that are used to compare the average salary for all positions, including the Executive Director. This documentation is available and reviewed annually as deemed necessary by the Executive Committee.”

“CLC's governing documents, minutes of Board meetings and committee meetings, and conflict of interest policy are kept in binders at our office. CLC's financial statements, audits and Forms 990 are on the website.”

“OTHER PROGRAM SERVICES 4: Other - Other program expenses relate primarily to community education and outreach.”

“Form 990 is being amended to remove Carolina Thread Trail as a related party.”

“The Conservancy may acquire certain property and/or conservation easements throughpurchases as well as through donor contributions. Donors generally contribute fee title to property and/or conservation easements. Conservation easements are legalagreements in which the landowner gives up some of the rights to their land, such asdevelopment, but retains ownership and management of the property. The conservationeasements are permanent and run with the land to successive owners. Contributionsare recorded at the estimated fair market value of the property or easement takinginto consideration the fact that the lands use may be severely limited based on theintent to preserve the property in its undeveloped state. Based on these facts, the values of easements shown in the accompanying Statement of Activities are based on independent appraisal or management estimates, if an appraisal is not available.”