Jackson Hole Land Trust

“Two easements were amended to allow grazing according to a grazing management plan and to correct the legal description of property encumbered by conservation easement, respectively.”

“In order to successfully fulfill the responsibilities and legal obligations associated with stewarding a conservation easement in perpetuity, the Land Trust must prepare for inevitable challenges to the legal aspects of the easement, while protecting the conservation values inherent to the property that are intended to be conserved. The JHLT shall achieve this through sound easement drafting, ongoing owner relations, and annual monitoring of properties that support a three-part enforcement strategy of violation prevention, violation classification, and guidelines for violation response.”

“Part ii, lines 6 & 7: total staff hours devoted to monitoring and enforcing new or existing conservation easements during the year amounted to 10,370 hours. A list of expenses devoted to such activities during the tax year is as follows: during the period of 10/1/2017 to 9/30/2018 the jackson hole land trust expended an approximate total of $598,348. This expenditure included staff costs for 100% of three full-time land stewards and two seasonal land stewards, 40% of one full-time jhlt employee; 80% and 25%, respectively, of two full-time green river valley program employees; attorney's time, 50% of the director of conservation's time, 10% of the president's time, and 35% of wind river program director's time at $322,220, plus direct out of pocket stewardship expense in the amount of $18,551 plus operating expense for training, supplies, telephone, rent, and travel in the amount of $257,577.part ii, line 9: the organization does not reflect conservation easements as an asset or as revenue on its books because the conservation easements have no re-sale value. The pertinent portion of the organization's audited financial statements for fy 2016 are found in note 16 and state as follows: "an offsetting reserve reflects the lack of market for conservation easements once they have been initially conveyed."”

“Funds are board-designated unrestricted net assets and permenantley restricted net assets. $12,715,898 has been set aside to fund the land trust's ongoing protection and stewardship responsibilities for the easements held by the land trust. $2,388,130 has been set aside to fund operations. $2,500 has been received to create a permanently restricted endowment.”

“Jackson Hole Land Trust is a not-for-profit organization that is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code (the Code). In addition, Jackson Hole Land Trust has been determined by the Internal Revenue Service to not be a private foundation within the meaning of Section 509(a)(1) of the Code. Tax years that remain open to examination by the Internal Revenue Service are September 2015 to September 2018.The Land Trust did not incur any income tax during the year ended September 30, 2018 and did not recognize any tax-related interest and penalties on the statement of activities and statement of financial position for that year. The Land Trust has no unrecognized tax benefits and no uncertain tax positions for the year ended September 30, 2018.”