Tennessee Parks and Greenways Foundation

“The organization has a written policy regarding the monitoring and handling of violations and enforcements of easements. The Foundations easements provide guidance for arbitration and violation enforcement.”

“The Organization receives donations of conservation 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. The financial statements do not reflect their value, but approximately 5,364.18 acres are currently protected with an appraised value at the date of donation of $19,872,294.”

“The Foundations Board of Directors adopted an endowment goal of $10,000 per easement property at inception of the program in 1999. 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, the Foundation has a plan to secure these funds and has a policy committing the funds to this purpose. The Foundations conservation easements provide guidance for arbitration and violation enforcement. However, should legal enforcement be required, the full Board of Directors will approve the process and budget. Restricted accounts are established for each easement 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.”

“We are a tax-exempt organization under Section 501(c) (3) of the Internal Revenue Code and are classified as an organization that is not a private foundation as defined in Section 509(a) of the Internal Revenue Code. Therefore, no provision for federal income taxes is included in the accompanying financial statements. We do not believe there are any uncertain tax positions. Further, we do not believe that we have any unrelated business income, which would be subject to federal taxes. We are not subject to examination by U.S. federal or state taxing authorities for years before 2011.”

“Rental expense recorded on stmt of rev $6751 fundraising exp recorded on stmt of rev $47470 community fnd exp recorded on funct exp $-1295”

“Rental expense recorded on stmnt of rev $6751 fundraising exp recorded on stmt of rev $47471 spc grants recorded on functional exp $-1000 professional fees recorded on funct exp $-295”