Indian River Land Trust Inc

“The organization does not receive nor earn any revenue, nor does it incur any out-of-pocket costs relative to the conservation easements it holds. The conservation easements are not included in the organization's balance sheet and there is no footnote disclosure required in the organization's financial statements.”

“The land stewardship endowment is invested to generate income to support ongoing operating activities for routine and emergency management activities on properties owned by the land trust. The new otter marsh endowment is invested to generate income to support annual maintenance work on the land trust's 150 acres mitigation property as required by state and federal regulatory agencies.”

“The land trust analyzes its income tax filing positions in the federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions, to identify potential uncertain tax positions. The land trust treats interest and penalties attributable to income taxes, and reflects any charges for such, to the extent they arise, as a component of its general and administrative expenses.the land trust is a not-for-profit organization exempt from income tax under section 501(c)(3) of the internal revenue code and is exempt from similar state and local taxes. Although the land trust was granted income tax exemption by the internal revenue service, such exemption does not apply to "unrelated business taxable income." such income, pursuant to the internal revenue code and related regulations, includes investment income such as interest received from sources other than directly from its supporters. The land trust has been classified as not a private foundation. The land trust has analyzed its income tax positions for fiscal years 2015 through 2018, the years which remain subject to examination by major tax jurisdiction as of june 30, 2019. The land trust concluded that there are no significant uncertain tax positions requiring recognition in the land trust's financial statements. The land trust does not expect the total amount of unrecognized tax benefits ("utb") (e.g. Tax deductions, exclusions, or credits claimed or expected to be claimed) to significantly change in the next 12 months. The land trust does not have any amounts accrued for interest and penalties related to utbs at june 30, 2019 or 2018, and it is not aware of any claims for such amounts by federal or state income tax authorities.”

“Classifications difference-discount on pledge receivable 26,379.”

“Classifications difference-discount on pledge receivable 26,379.”