Eastern Sierra Land Trust

“CONSERVATION EASEMENTS ARE PERPETUAL VOLUNTARY AGREEMENTS BETWEEN THE TRUST AND PRIVATE ORPUBLIC LANDOWNERS WHEREBY THE LANDOWNERS AGREE TO ABIDE BY CERTAIN RESTRICTIONSDESIGNED TO PRESERVE THE OPEN SPACE OR CONSERVATION VALUES OF THEIR LAND. THE TRUSTACCOMPLISHES ONE OF ITS PRIMARY PROGRAM SERVICE OBJECTIVES, LAND CONSERVATION, THROUGH TWO KEY PROGRAMS, WORKING FARMS AND RANCHES AND CRITICAL HABITATS, INPART, BY ACQUIRING SUCH EASEMENTS. CONSERVATION EASEMENTS DONATED TO OR PURCHASED BY THE TRUST ARE NOT RECOGNIZED AS ASSETS OR REVENUES IN THE FINANCIAL STATEMENTSBECAUSE THE TRUST DOES NOT HAVE FEE TITLE TO THE PROPERTIES AND THERE ARE NO EXPECTEDFUTURE ECONOMIC BENEFITS. IF PURCHASED, THE COSTS OF CONSERVATION EASEMENTS AREEXPENSED WHEN THE EASEMENTS ARE ACQUIRED. RESTRICTED CONTRIBUTIONS REQUIRE THE FULFILLMENT OF CERTAIN CONDITIONS AS SET FORTH BY THE DONOR OR FUNDER. FAILURE TO FULFILL THE CONDITIONS COULD RESULT IN THE RETURN OF THE FUNDS TO THE DONORS OR FUNDERS. THE TRUST DEEMS THIS CONTINGENCY REMOTE SINCE BY ACCEPTING THE CONTRIBUTIONS AND GRANT FUNDS AND THEIR TERMS, IT HAS ACCOMMODATED THE OBJECTIVES OF THE ORGANIZATION TO THE PROVISIONS OF THE CONTRIBUTIONS.THE TRUST'S MANAGEMENT BELIEVES THE ORGANIZATION HAS COMPLIED WITH THE TERMS OF ALLCONTRIBUTIONS, GRANT FUNDS AND DONATIONS.As of December 31, 2022, the Trust held the conservation easements of 18,029 acres.(Audited Financial Statements).In addition, the Trust holds a deed restriction and owns the subsurface mineral rights for a Cedar Hills property, acquired in 2007, with 3,748 acres and a Parraguirre property with 40 acres, acquired in 2011.”

“As of December 31, 2022, the Trust held the conservation easements of 18,029 acres.(Audited Financial Statements).In addition, the Trust holds a deed restriction and owns the subsurface mineral rights for a Cedar Hills property, acquired in 2007, with 3,748 acres and a Parraguirre property with 40 acres, acquired in 2011.”

“Land held for conservation”

“A portion of the trust's net assets without donor restrictions at december 31, 2022are designated for conservation in the amount of $4,417,321. The amount representsthe net book value of the easements held by the trust as reflected in other assets in the accompanying financial statements.net assets with donor restrictions consist of amounts restricted by grantors anddonors for the following purposes:stewardship,fire restoration, metabolic,preserve it now, lta & other.”