South East Alaska Land Trust

“The trust has acquired and holds a number of conservation easements, each representing a legal interest in land owned by another person or entity. The conservation easements do not have measurable economic value because the easements extinguish future development rights in the subject properties and grant the trust the right to protect the land for conservation purposes. Because of the unique nature of these assets, the impracticality of obtaining consistent and reliable estimates of the values ascribed to these interests, and consistent with the practices followed by many environmental land trusts, the trust's financial statements do not include any amounts for these property interests.”

“Sealtrust's conservation easement stewardship fund is available to monitor and defend, equally and to the fullest extent our resources allow, the terms of the conservation easements sealtrust holds. We may only withdraw funds to pay for the expenses of easement stewardship monitoring and enforcement (ie, routine or special monitoring, preventative measures, or compliance enforcement) and only in the that amount which covers the actual costs of the stewardship responsibilities”

“The trust is a nonprofit organization exempt from federal taxes under the provisions of internal revenue service code section 501(c)(3). The trust follows the provisions of fasb asc 740, income taxes, and management believes that it has appropriate support for any tax positions taken. The organization's federal income tax returns (form 990) are subject to possible examination by the internal revenue service until the expiration of the related statute of limitations on those tax returns, which, in general, have a three-year statute of limitations.”