Big Sur Land Trust

“It is the policy of Big Sur Land Trust to only acquire and hold for consideration those lands or interests in land that contain resources or conservation values that the land trust determines to be of real benefit to the public.The Land Trust shall proactively manage and monitor all lands and conservation easements that it acquires for the long-term benefit of the local communities where those lands are situated, emphasizing long-term ecological health of the land and associated resources. Prior to acquisition, the land trust will assess and document the resources and conservation values of concern and will project the reasonable on-going management, monitoring and enforcement costs thereof; the trust will determine a means of endowing these stewardship costs. The land trust will undertake appropriate due diligence regarding title and liability issues prior to acquisition, including assessment for hazardous materials or conditions, visual inspection for adverse interests of claims, title insurance and surveys when appropriate.”

“The trust periodically receives or purchases conservation easements which limit the allowable uses of the related property to open space uses consistent with the trust's mission. Contributed conservation easements received are recorded as easement contributions based on the estimated value given up by the land owner by restricting the use of the property with an easement. Because of donor restrictions, contributed conservation easements and conservation easements purchased with restricted donations bear no future benefit to the trust and are therefore expensed as land and easements conveyed in the year they are acquired. In connection with the transfer or sale of land to governmental agencies, the trust may retain a conservation easement on the land. Because these easements bear no future financial benefit to the trust, they are not recorded on the trust's statement of financial position. The trust capitalizes the cost of purchased easements only when they are expected to be sold or otherwise result in some future financial benefit to the trust. There were no capitalized conservation easements as of June 30, 2024.”

“The organization's endowment funds are used for the acquisition, restoration and stewardship of lands and waters in California Central Coast Region.”

“Accounting principles generally accepted in the United States of America provide accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. Management has considered its tax positions and believes that all of the positions taken by the Trust in its federal and state tax returns are more-likely-than-not to be sustained upon examination.”

“Valuation adj. to split interest trusts $96397 rental expense $45094”

“rental expense $45094”