Gallatin Valley Land Trust

“In July of 2017, the original grantor of the Pessl Conservation Easement (2007) requested to add acreage (10 acres) to their original conservation easement property. The additional acreage is adjacent to the original property and added to the overall conservation value of the property. The landowner and GVLT worked to clarify the details of the amended acres, developed a letter of intent, and agreed upon how the costs would be covered. GVLT presented the amendment to its board of directors for approval, sought legal counsel to help construct the new terms, and completed necessary due diligence related to the transaction (title policy, mortgage subordination, mineral remoteness test, update the BDR, and consulted with funders). The landowners sought an independent appraisal that confirmed that conservation value existed with the addition of acres.”

“The Gallatin Valley Land Trust is accredited by the national Land Trust Accreditation Commission. GVLTs Monitoring Policy mandates annual monitoring of all conservation easement properties, including personal site visits and interviews with the landowner. It also requires permanent documentation of the monitoring visit and regular communications with landowners. GVLTs Violations Policy emphasizes tools to help prevent violations and outlines the procedure should a violation occur, including the role of staff and Board of Directors, and describes possible enforcement actions.GVLTs template conservation easement reflects our Monitoring and Violations Policies in standard language about access for monitoring (Section 7), baseline documentation reports (Section 9), Prior Notice and Approval (Section 4), and Breach and Restoration (Section 5).”

“Conservation easements accepted by Gallatin Valley Land Trust (GVLT) are not recorded as assets or revenues because the conservation easements provide the land trust with no affirmative rights other than monitoring and enforcing the easement.”

“The endowment fund is a depository for special gifts to GVLT from donors who instruct their gifts are for charitable endowment purposes and are not wholly expendable by the institution on a current basis. ENDOWMENT FUNDS ARE TO BE RESPONSIBLY MANAGED TO ALLOW FOR ACCUMULATION AND INCOME FOR EXPENDITURE TO ACCOMPLISH THE ORGANIZATION'S CHARITABLE PURPOSES. THESE PURPOSES INCLUDE, BUT ARE NOT LIMITED TO, THE PROTECTION, PRESERVATION AND ENHANCEMENT OF THE LANDS ADJACENT TO RIVER AND CREEK CORRIDORS, WILDLIFE HABITAT, RECREATIONAL OPPORTUNITIES, SCENIC OPEN SPACE, AGRICULTURAL LANDS AND HISTORIC SITES; TO ACQUIRE REAL AND PERSONAL PROPERTY INCLUDING EASEMENTS AND CONSERVATION EASEMENTS; AND TO ACQUIRE, CONSERVE, HOLD, AND DISPOSE OF LAND AND INTERESTS IN LAND.”

“Fundraising event expenses $85046”

“Fundraising event expenses $85046”