Estes Valley Land Trust Inc.

“All conservation easements are monitored through on-site visits to the property on an annual basis. A written monitoring report is prepared and added to the records of the easement. If a violation of an easement is observed during the on-site visit or otherwise comes to the attention of evlt it is dealt with first by staff and, if enforcement is necessary it is brought to the attention of evlt's legal committee. Evlt works with the landowner to correct any violation and, if necessary, can enforce the easement either through legal proceedings or alternative dispute resolution methods. Evlt and the legal committee also work with landowners to avoid violations.”

“Revenues--donations where the donor has restricted the use of funds to stewardship are shown as donor restricted contributions expenses--direct expenses of monitoring and enforcement and a share of indirect operating costs are shown as program expenses balance sheet--quasi-endowment funds are established with donor funds and board allocated funds. The income and principal of these quasi-endowment funds are used for monitoring and enforcement costs now and in the future.”

“Collections and relation to exempt purpose collection items acquired either through purchase or donation are not capitalized. Contributions of collection items are not recognized in the statements of activities. During 2007, the organization received a donation "klandghi and the mountain" a life-size sculpture of a mountain lion in a natural setting which will be displayed at hermit park. The sculpture is to be protected, kept unencumbered, preserved and maintained by volunteers of the organization. In march 2011, the organization received a donation of "bear lake" a painting by niles nordquist which is displayed in the organization's office”

“Stewardship fund (783,214)--provides funding for future costs of monitoring easements in perpetuity 2. Legal defense fund (340,881)--provides funding for future costs of enforcing easements in perpetuity”

“The organization has adopted the recognition requirements for uncertainty in income taxes as required by the financial accounting standards board accounting standards codification 740-10. The standard prescribes a comprehensive model for how an organization should recognize, measure, present and disclose in the financial statements uncertainty in income taxes the organization has taken or expects to take on a tax return. The organization's income tax filings are subject to audit by various taxing authorities. No provisions for income taxes have been made in the financial statements, as the organization has qualified as non-profit organization exempt from income taxes under section 501(c)(3) of the internal revenue code, and has not received any unrelated business income during 2015. The organization believes that it has appropriate support for any uncertainty in income taxes, and as such, does not believe it has any uncertainty in income taxes that are material to the financial statements.”

“Explanations regarding conservation easements modified, transferred, released or terminated in response to schedule d, part ii, item 3: 1) hermit park conservation easement (easement 145). This 1,362 acre parcel was acquired by larimer county, colorado in 2006 for use as a county park. In 2007, the county granted the estes valley land trust a conservation easement in the property. The conservation values under this easement include both (i) the public enjoyment of recreational amenities on the property and (ii) the preservation of open space. The deed of conservation easement has twice before been amended in may 2008 and may 2010. The deed of conservation easement was amended and restated in its entirety in august 2015 to reflect the original terms of the easement, the changes made by the prior two amendments and several additional amendments negotiated by the parties. The additional changes included the following: (i) changes designed to better balance the sometimes conflicting conservation values of public enjoyment of recreational amenities on the property and the need to preserve open space and to clarify the restrictions and permitted uses within conservation easement document, (ii) clarify the roles and responsibilities of the county and the estes valley land trust in preserving the conservation values of the property, (iii) update or clarify non-substantive provisions within terms and conditions of the conservation easement and (iv) clarify when and the conditions under which the management plan for the property needs to be reviewed and updated. In total, the estes valley land trust believes that the amendment and restatement significantly enhances the conservation values under the conservation easement. 2) opal land and cattle conservation easements (easements 155 and 162). These two conservation easements include a total of 753 acres. Larimer county road 43 is located adjacent to the properties covered by these conservation easements. During the flood of september 2013, the road was substantially destroyed. During 2014 and 2015, larimer county first made temporary road repairs and then began a redesign and rebuilding of the road. In many instances along these properties, this involved a major relocation of the roadway. In order to avoid the legal complexities and costs of condemnation proceedings, the parties agreed to handle the county's need to acquire additional right-of-way for the redesigned road through a series of agreements that involved the county acquiring a temporary construction easement for certain areas and ultimately the county acquiring a dedication of additional road right-of-way. In each instance, it was necessary that the county's rights not be restricted by the terms of the existing conservation easements on the properties. In total, 9.0 acres covered by the conservation easements was to be subject to the county's temporary use and possession during the construction work and, ultimately, the county will acquire a right-of-way covering 5.2 acres of the conserved property. The value of the temporary use of the property and of the right-of-ways will be determined through appraisal. In accordance with the condemnation section of the deed of conservation easement, the estes valley land trust will receive a proportional share of all amounts paid by the county based upon the relative value of the conservation easement to the value of the underlying properties at the time that the conservation easements were put in place. Amounts received by the estes valley land trust will be added to its stewardship fund and/or its land protection fund. Pursuant to the amendment agreement, the landowner has committed to use all amounts that it receives from the county for restoration of the damages caused to the conservation values of the properties by the 2013 flood event. The county also has undertaken to perform mitigation work to mitigate or restore any damage caused by its road building activities. The estes valley”