Jackson Hole Land Trust

“Conservation easement amended to include certain land subject to the conservation easement.”

“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 8,290 hours. A list of expenses devoted to such activities during the tax year is as follows: during the period of 10/1/2019 to 9/30/2020 the jackson hole land trust expended an approximate total of $549,945. This expenditure included staff personnel costs totaling $344,808 and operating expenses including travel, depreciation, facility, insurance, office expenses, professional services, public outreach, and other stewarship expenses in the amount of $205,137.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 2020 is found in note 15 and states 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. $13,211,990 has been set aside to fund the land trust's ongoing protection and stewardship responsibilities for the easements held by the land trust. $3,351,586 has been set aside to fund operations.”

“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 2017 to September 2020.The Land Trust did not incur any income tax during the year ended September 30, 2020 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, 2020.”