Hudson Taconic Lands Inc

“The organization accomplishes its land conservation objectives, in part, by accepting donations of interests in real property primarily in the form of conservation easements. Conservation easements are perpetual agreements between the organization and private landowners through whom the landowners agree to abide by certain restrictions designed to preserve the open space or conservation value of their land. These agreements are binding on all landowners. Contributions or purchases of conservation easements are recorded as program service expenses under the expense category conservation easements when aquired. Upon accepting a conservation easement, the organization assumes a perpetual obligation to monitor, normally on an annual basis, the affected property to ensure that the landowners comply with the restrictions in the easement. Further, the organization is perpetually obligated to enforce provisions of the easements in the event of a violation to the terms of the easement. Enforcing an easement violation could involve costly legal or other expenses. Although conservation easeements are real property rights, they possess little or no market value due to a resale market that is essentially limited to the owner of the fee title of the restricted property. Because of this limited market and due to the obligations inherent in easement ownership, the organization's easement holdings are recorded at $1 each in permanently restricted net assets. The organization has 16 conservation easements in rensselaer county protected in perpetuity totalling 1017 acres of land.”

“The organization capitalizes conserved land at cost, if purchased, or at its appraised fair market value if received as a contribution. In addition to accepting conservation easements, the organization accepts fee title to conservation properties that are held by the organization in furtherance of its mission. The donors/sellers of such property have established the fair market value through an independent appraisal of those properties. Two of the 2021 acquisitions (WQIP Browning and WQIP-Moore Pohlmann) were "bargain sales", where one-third of the appraised value was donated, and two-thirds were purchased through the NYS water quality improvement program. The organization has seventeen preserves, totaling 947.03 acres of land.”

“The organization has adopted the provision of asc 740-10, accounting for uncertainty in income taxes. Management evaluated the alliance's tax positions, including interest and penalties attributable thereto, and concluded that the alliance had taken no positions that required adjustment in its financial statements as of december 31, 2024.”

“Fundraising direct expense 28,023.”

“Fundraising direct expense 28,023.”