The Ojai Valley Land Conservancy

“The ovlc monitors all conservation easements and fee lands on an annual basis. For conservation easements, monitoring consists of a field visit, completion of a monitoring checklist, and photographs from fixed photo points. A summary report is then generated for the ovlc's records. If a potential or certain violation of a conservation easement is observed, the landowner is notified in writing and an effort is made to voluntarily address the violation through removal of the violation and/or restoration of damaged conservation values. Ovlc allows 30 days from the time written notification is issued for a cooperative resolution or approved plan to address resource damage. Measures to correct a violation must result in the return of conservation resources to a condition equal to, or better than, the conditions prior to the violation. If a cooperative resolution is not achieved in the 30 day period, and agreed to in writing, the ovlc will initiate legal remedies. In cases where resource damage is permanent or restoration is untenable, the ovlc will seek to replace this value on or off site through protection of additional similar conservation resources owned by the violating landowner or through the purchase of this protection with funds received from the violating party. On ovlc fee-owned preserves staff either conducts an annual monitoring visit or conducts annual springtime inspections of areas of the preserves that may experience boundary encroachments.”

“Property held for conservation purposes includes purchased or donated properties and conservation easements to be maintained as nature preserves. Purchased land is stated at the lesser of cost or fair market value. Donated properties are initially recorded at their appraised values at the date of contribution, and are carried at the lower of this amount or fair market value. Preserved land and conservation easements are treated as commitments and are recorded in property held for conservation purposes as $1 each and also net assets with donor restrictions. All nature preserve land and buildings have fair market values of $0 due primarily to deed restrictions, which affect potential sales”

“The intended purpose of the endowment funds is to provide a predictable stream of funding to programs supported by the organization's endowment.”

“Financial accounting standards board's asc 740-10, accounting for uncertainty in income taxes, prescribes a threshold for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Ovlc files tax returns in the u.s. Federal jurisdiction and in the state of california. Ovlc's tax returns from the year 2021 to the present remain subject to examination by the irs for federal tax purposes, and the tax years from 2020 to the present remain subject to examination by the state of california. Management has evaluated its tax positions for all jurisdictions in which the statute of limitations remains open and has determined that ovlc had taken no uncertain tax positions that require adjustment to the financial statements. Ovlc is not aware of any activities that are subject to tax on unrelated business income, excise or other taxes.”

“Rental expenses -184,423.”

“RENTAL EXPENSES 184,423.”