Skagit Land Trust

“Skagit land trust has written board adopted policies on periodic monitoring, inspection, and handling of violations, as well as enforcement of the conservation easements it holds. Elements of the policies include that the trust monitors its easements at least annually and documents each monitoring activity in writing. On monitoring visits, information is gathered to enable enforcing the easement including observations that are relevant to the conservation easement restrictions, reserved rights and conservation values. Monitoring is done by trained staff and trained volunteers. The landowners are contacted as part of the monitoring process. Skagit land trust has written policies on enforcing violations of conservation easements. The policies describe necessary steps to resolve violations, both major and minor. The key content of the monitoring, inspection and enforcement policies are reflected in easement documents.”

“The trust records gifts of land at their appraised value. Although the value of conservation easements can be determined by appraisal, it is generally accepted that land trusts carry easements at a nominal value for financial recording purposes. Conservation easements are currently valued at zero dollar value in the trust's financial records as they carry no rights or affirmative use or access except for monitoring purposes, and constitute an obligation of the trust to maintain and defend them.”

“Per the trust's accreditation requirements, all board designated and donor restricted funds (even if not true endowments) are included on schedule d part v endowments funds. The funds are primarily designated and restricted for conservation projects and stewardship. The permanent endowment began in fiscal year 2017 and earnings generated by the funds in the endowment may be used only for stewardship of specific donated properties. Any earnings not expended in a given year may be added to the endowment or retained and used for endowment purposes in subsequent years.”

“The skagit land trust, pursuant to a letter of determination from the internal revenue service, is a non-profit organization exempted from the federal income tax under section 501(c)(3) of the internal revenue service code of 1986. As of march 31, 2025, the entity had no unrealated business activities subject to federal income taxes. Management evaluated the entity's tax positions and concluded that the entity had taken no uncertain tax positions.”

“Rental expense applied against rental revenue 1,741.”

“Rental expense applied against rental revenue 1,741.”