Santa Fe Conservation Trust

“The los trigos conservation easement in pecos, nm, was amended in 2022, adding 490 acres for a total of 604 acres.”

“Because of the unique nature of these assets, the impracticability of obtaining consistent and reliable estimates of the values ascribed to these interests, and consistent with the practices followed by environmental land trusts, they are not recorded as assets in the financial statements.”

“The sfct stewardship fund was established in 2003. Its purpose is to provide assurance to easement donors that their conservation easement stewardship donations are protected in perpetuity. The fund pays a modest income return to sfct to help defray the cost of monitoring easements. The income distributions are deposited into and comingled with sfct's operating cash account. The purpose of this fund is to be used for costs associated with monitoring and conservation easement defense only. The sfct easement fund was established in 2006. Its purpose is to assist in the purchasing of new conservation easements as well as to pay for the costs of defending new or existing conservation easements.”

“Sfct is exempt from federal income tax under section 501(c)(3) of the internal revenue code. In addition, sfct has been classified as other than a private foundation. Sfct's open audit periods are 2018 through 2020. Sfct evaluates uncertain tax positions in accordance with asc 740 whereby the effect of the uncertainties in tax positions would be recorded if the outcome was considered probable and reasonably estimable. Sfct believes that it has appropriate support for any tax positions taken and, as such, does not have any uncertain tax positions that are material to the financial statements.”

“On december 17, 2021, sfct was granted $1,000,000 of corpus endowment funding by the eugene v. And clare e. Thaw charitable trust to remain in perpetuity. Funding distribution terms in the award give sfct up to 5% of the 3-year rolling average market value annually on september 30th. The first distribution should not be taken prior to 2023. These distributions can be used at the discretion of the board and will not be restricted. As of december 31, 2022, the endowment corpus is invested in bond and equity mutual funds and exchange traded funds. On december 17, 2021, sfct was granted $250,000 of corpus endowment funding by the eugene v. And clare e. Thaw charitable trust to remain in perpetuity. Funding distribution terms in the award give sfct up to 5% of the 3-year rolling average market value annually on september 30th. The first distribution should not be taken prior to 2023. These distributions are directed to be used for management and maintenance of the conservation homestead and are considered purpose restricted. As of december 31, 2022, the endowment corpus is invested in bond and equity mutual funds and exchange traded funds.”