Chattowah Open Land Trust Inc

“Modification under potential 5 acre powerline right of way condemnation. 20 acres of similar, additional property conserved , increasing overall conservation value.”

“Once a year, a land trust staff member goes to each protected property in order to conduct an annual site visit (asv). The annual site visits ensure that the terms of the conservation easement are being followed. A baseline documentation report (bdr) is completed when the easement is finalized. Each bdr contains specific details pertaining to what types of construction and alterations are allowed on the protected property. The bdr is taken to each asv, and all changes to the property and ownership are noted. The bdr and asv reports are kept as a permenant ce file. Enforcement is addressed in every conservaion easement. The conservation easement provides that the land trust has the right to enforce the easement in law or in equity.”

“The organization has many easements recorded in its name. Currently, there is no requirement to value these easements for reporting purposes. Accordingly, these easements have been expensed when purchased. Conservation is the primary purpose of the company.”

“The organization applies the provisions of the accounting standards codification (asc) relating to uncertainty in income taxes. The guidance requires entities to assess their uncertain tax positions for the likelihood that they would be overturned upon internal revenue service (irs) examination. In accordance with this guidance, the organization has determined that it does not have any positions at december 31, 2013, that it would be unable to substantiate (or if there are uncertain positions, they should be disclosed). The organization has filed its tax returns through december 31, 2012. The tax returns for the years ended december 31, 2010, and thereafter are subject to audit by the taxing authorities.”

“Board designated net assets consist of funds restricted by the board for stewardship and defense of easements. Temporarily restricted net assets consist of funds restricted for stewardship and defense of conservation easements and for land management expenses for owned conservation properites.”