Tri-Valley Conservancy

“Tri-valley conservancy is certified by the land trust alliance and abides by the policies and procedures related to monitoring, inspection and enforcements of the conservation easment. The organization maintains an endowment account is to ensure property stewardship of tvc's easements and property interests by funding its legal, operating and monitoring activities in perpetuity.”

“Through its years of operation, tvc has acquired sixty-seven deeds of perpetual agricultural or open space easements totaling 5,111 acres. These easements have no financial value since the development rights associated with the properties have been permanently "extinguished". Therefore, the easements are valued nominally at $1 each, for a total of $67 in these financial statements. Certain residential developments within the boundary of the plan area are required to pay tvc mitigation fees at the time individual building permits are pulled (ruby hill development in pleasanton, ca) or in other cases at the time of final map approval. Such fees have been collected by the city of pleasanton, and tvc anticipates revenues from the remaining four plus residential lots still available in the ruby hill development. All monies received from ruby hill are restricted for use within the south livermore valley area plan (slvap). Tvc uses the developer mitigation fees it receives from ruby hill to purchase conservation easements, to steward the portfolio of easements under its care and to cover its general and administrative operations. Tvc accepts and holds conservation easements committing to annual stewardship in perpetuity, to enforce their terms and to building positive landowner and community relationships to support its conservation programs and enforcement actions. For every easement, tvc has a baseline documentation report prepared prior to closing and signed by the landowner at closing. The report documents the improvement conservation values protected by the easement and the relevant conditions of the property as necessary to monitor and enforce the easement(s). The easement properties are monitored regularly, at least annually, and documentation is kept of each monitoring activity. Tvc maintains regular contact with owners of easement properties. Changes in land ownership are tracked. Tvc strives to promptly build a positive working relationship with new owners of easement properties and informs them about the easement's existence and restrictions, and tvc's stewardship policies and procedures. Part of the stewardship effort requires tvc to take necessary and consistent steps to see that violations are resolved utilizing legal resources for enforcement and defense when necessary.”

“Tvc is the endowment holder for the long-term management and monitoring of properties held for mitigation with cdfw, usfws, rwqcb, and other entities, in accordance with property specific long-term management plans.”

“The organization is exempt from federal and state income taxes under sections 501(c)(3) of the internal revenue code (irc) and 23701d of the california revenue and taxation code, respectively. The organization has no unrelated business income for the years ended december 31, 2024 and 2023. Accordingly, no provision is made for income taxes in these financial statements. Gaap requires an organization to recognize the tax benefit or liability associated with a tax position taken for the tax return purposes when it is more likely than not the position will be sustained. The organization does not believe there are any material uncertain tax positions and accordingly, they will not recognize any liability for unrecognized tax benefits. For the years ended december 31, 2024 and 2023, there were no tax related interest or penalties recorded or included in the financial statements. The organization is subject to potential examination by taxing authorities for income tax returns filed in the u.s. Federal jurisdiction and the state of california.”