Tenngreen Land Conservancy

“Monitoring: the easement property is placed on a schedule to be inspected at least once per calendar year in order to ensure compliance with the terms of the conservation easement. The landowner or designated representative is contacted in advance of the site visit, and tenngreen prefers that the owner or representative be present if possible during the site visit. Each monitoring report includes the following information: inspection date, property inspected, name of inspector, observastions related to property's condition and conservation values. Enforcement: tenngreen follows an enforcement policy. If a monitoring visit results in the need for an enforcement action due to a violation of conservation easement restrictions, tenngreen documents all enforcements to show they were timely, consistent with conservation easement values and/or restrictions, and did not result in a private inurement or impermissible private benefit. The board will be involved as appropriate to the scale of the violation and any co-holders of the conservation easement will be informed according to the terms of the conservation easement and mou. Tenngreen has a policy detailing how it will respond to a potential violation of an easement, including the role of all parties involved in any enforcement action. When a violation has occured, tenngreen will give written notice of the violations to the grantor and request corrective action. In the event of a disagreement, arbitration will be conducted. When the grantor fails to correct the violation within 30 days, or the violation cannot be reasonbley corrected within 30 days, or has not begun the process of correction within 30 days, tenngreen may then commence legal action to enforce the easement terms.”

“The organization receives donations of conservation easements and will from time-to-time purchase easements. A qualified conservation easement is a restriction (that is granted in perpetuity) on the use of land granted to a charity exclusively for conservation purposes. Conservation easements held by the organization are not recognized as assets. Assets are defined as probable future economic benefits obtained or controlled by an entity; the organization has determined the easements do not meet the definition criteria.”

“Tenngreen land conservancy's board of directors adopted a goal of $15,000 per easement property. This goal is evaluated with the acceptance of each easement on a case-by-case basis but not below a minimum of $5,000 per easement project. If endowment funds are not secured at or by the completion of the transaction, tenngreen has a plan to secure these funds and has a policy committing the funds to this purpose. Tenngreen's conservation easements provide guidance for arbitration and violation enforcement. Restricted accounts are established for all easements and reflected on the monthly balance sheet and reported to the board. Note: contribution to an endowment fund is not required. The land gift is the real gift to conservation and stewardship funding is sought from general membership or bequests.”

“The organization follows fasb asc 740-10, accounting for uncertainty in income taxes, as it relates to uncertain tax positions. For all tax positions taken by the organization, management believes it is clear that the likelihood is greater than 50% that the full amount of the tax position taken will be ultimately realized. Therefore, management believes that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns for the three most recent years filed, or expected to be taken in the organization's current year tax return. The organization identifies its major tax jurisdictions as the u.s. Federal and the state of tennessee. However, the organization is not currently under audit nor has the organization been contacted by either of these jurisdictions. As of september 30, 2024 and 2023, the organization has accrued no interest and no penalties related to uncertain tax positions.”

“Direct event expenses 38,746.”

“Direct event expenses 38,746.”