The Walden Woods Project

“Conservation easements are reported in the financial statements at appraised value. Appraised value is based on the difference of the estimated value of the related conservation land before and after the restriction is granted.”

“The thoreau institute library at the walden woods project houses the world's most comprehensive collection of material related to henry david thoreau. In order to fulfill our educational mission, all materials are freely accessible by visitors and many are being made virtually accessible through the internet to serve those who are not able to visit the library in person. In addition, our curator of collections is available to answer reference questions, help with research and give talks to visiting students and other groups.”

“The walden woods project intends to continue to solicit contributions to build its endowment fund. Ultimately, earnings from the endowment will be applied to offset annual operating costs.”

“The project is a non-profit corporation organized under the laws of massachusetts and is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Accordingly, the financial statements do not reflect a provision for income taxes. This determination has been reviewed according to guidance in a financial accounting standards board pronouncement related to accounting for uncertainty in income taxes. In determining the recognition of uncertain tax positions, the project now applies a more-likely-than-not recognition threshold and determines the measurement of uncertain tax positions by considering the amounts and probabilities of the outcomes that could be realized upon ultimate settlement with taxing authorities. As of december 31, 2024, the project has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. The project is generally subject to potential examination by taxing jurisdictions for the prior three years. The project is potentially subject to unrelated business income tax (ubit) relating to the sale of produce at a farm stand, which is not related to the project's primary purpose of preserving conservation land. For the years ended december 31, 2024 and 2023, the project did not incur any ubit related to its farm stand operation.”

“Cost of goods sold related to the walden woods project's farmstand activity and expenses related to special events are categorized as expenses for financial statement purposes and included in revenue for 990 filing purposes.”