2024-12-16T09:56:55-06:00 2024-03-31 620713250 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2023-04-01 621770549 THE LAND TRUST FOR TENNESSEE INC LAND 6152445263 4000 FRANKLIN PIKE NASHVILLE TN 37204 PAUL MALONE DIRECTOR OF FINANCE 6152445263 2024-12-16 1 1 FRANCES E LEAHY P00713593 6152427351 2024-12-09 2023 2024-10-15 13:58:12Z PAUL MALONE 4000 FRANKLIN PIKE NASHVILLE TN 37204 4783898 0 X WWW.LANDTRUSTTN.ORG X 1999 TN CONSERVATION OF UNIQUE CHARACTER OF TENNESSEE'S NATURAL & HISTORIC LANDSCAPES & SITES 20 19 25 150 0 0 2024619 1939325 0 0 78542 372387 295324 -161448 2398485 2150264 0 0 0 0 1592084 1678148 0 0 409819 939698 717250 2531782 2395398 -133297 -245134 23332971 24090214 220758 253047 23112213 23837167 X TO CONSERVE THE UNIQUE CHARACTER OF TENNESSEE'S NATURAL AND HISTORIC LANDSCAPES AND SITES FOR FUTURE GENERATIONS. 0 0 1389710 CONSERVATION SUCCESS: DURING FISCAL YEAR 2024, THE ORGANIZATION COMPLETED 10 PROJECTS, PROTECTING 1,768 ADDITIONAL ACRES OF LAND IN TENNESSEE. NINE OF THESE PROPERTIES WERE PROTECTED WITH CONSERVATION EASEMENTS, THE ORGANIZATION'S PRIMARY TOOL FOR CONSERVING LAND, AND ONE WAS AN AMENDMENT TO ADD 86 ACRES OF LAND TO AN EXISTING CONSERVATION EASEMENT. FOUR OF THE TEN PROJECTS ARE LOCATED IN ONE OF THE ORGANIZATION'S TEN CONSERVATION OPPORTUNITY REGIONS (CORS), WHICH ARE THE PRIORITY AREAS ESTABLISHED THROUGH THE ORGANIZATION'S STRATEGIC CONSERVATION PLAN, FOREVER TENNESSEE. THIS INCLUDED THE ORGANIZATION'S FIRST CONSERVATION EASEMENT IN THE SMOKY MOUNTAIN FOOTHILLS COR IN EAST TENNESSEE WHICH PROTECTED OVER 1,048 ACRES OF FORESTLAND AND WILDLIFE HABITAT. THE PERMANENT PROTECTION OF THESE PROPERTIES RESULTED IN THE PRESERVATION OF 2.9 MILES OF PUBLIC ROAD FRONTAGE AS WELL AS 7.8 MILES OF TENNESSEE'S RIVERS AND STREAMS. AT THE END OF FY24, THE ORGANIZATION HAD PROTECTED A TOTAL OF 136,012 ACRES OF LAND THROUGH 455 PROJECTS. AFTER A 7-YEAR EFFORT, THE ORGANIZATION AND A GROUP OF CONSERVATION PARTNERS CELEBRATED THE MOMENTOUS OPENING OF WALDEN'S RIDGE PARK (WRP) IN SEPTEMBER OF 2023. WRP IS A 217-ACRE OUTDOOR ADVENTURE PARK ON THE SLOPE OF SIGNAL MOUNTAIN FEATURING OVER 10 MILES OF TRAILS TO ACCOMMODATE MOUNTAIN BIKING, HIKING, TRAIL RUNNING, AND BOULDERING. THE WRP PROJECT IS PART OF AN ONGOING EFFORT TO HIGHLIGHT CHATTANOOGA AS A NATIONWIDE DESTINATION FOR OUTDOOR RECREATION. IN ADDITION TO SECURING OVER $1.2 MILLION IN FUNDING TO DEVELOP THE PARK, THE ORGANIZATION ALSO HOLDS A PERMANENT CONSERVATION EASEMENT ON THE PROPERTY. STEWARDSHIP: THE ORGANIZATION COMPLETED 100% OF ITS ANNUAL MONITORING IN FY24 THROUGH BOTH IN-PERSON VISITS AND THROUGH SATELLITE IMAGERY. THIS INCLUDES OVER 400 ON-THE GROUND VISITS COMPLETED BETWEEN APRIL 2023-MARCH 2024. MONITORING IS A CRITICAL PART OF THE ORGANIZATION'S COMMITMENT TO UPHOLD ITS PROMISE OF PROTECTING LAND IN PERPETUITY. THE ORGANIZATION'S STEWARDSHIP STAFF ALSO HANDLED HUNDREDS OF OTHER STEWARDSHIP ITEMS INCLUDING ACTIVITY REQUESTS, APPROVALS, EASEMENT INTERPRETATIONS, AND PROPERTY TRANSFERS. THE ORGANIZATION HAD A STRONG FUNDRAISING YEAR AND EXCEEDED ITS PREVIOUS RECORD FOR UNRESTRICTED CONTRIBUTIONS. THIS INCLUDES INCREASED FUNDRAISING REVENUE FOR ITS ONCE IN A BLUE MOON EVENT IN OCTOBER 2023, AND FOR REVENUE STREAMS, INCLUDING THE PROCEEDS FROM THE SALE OF A PROPERTY IN SEPTEMBER 2023. THE ORGANIZATION CONTINUED DEVELOPING FUNDRAISING EVENT CONCEPTS SUCH AS MUSIC ON THE FARM AND FOREVER TENNESSEE, WHICH WILL PROVIDE ADDITIONAL SOURCES OF REVENUE AND OPPORTUNITIES FOR DONOR STEWARDSHIP IN THE FUTURE. IN ADDITION TO INCREASING UNRESTRICTED CONTRIBUTIONS, THE ORGANIZATION DEEPENED RELATIONSHIPS WITH KEY FOUNDATIONS TO SECURE RESTRICTED CONTRIBUTIONS FOR PROGRAMS INCLUDING GLEN LEVEN FARM AND WORK IN SOUTHEAST TENNESSEE. THESE ENHANCED AND NEW REVENUE STREAMS ARE NECESSARY TO ACHIEVE THE ORGANIZATION'S MISSION TO CONSERVE THE UNIQUE CHARACTER OF TENNESSEE'S LANDSCAPES FOR PRESENT AND FUTURE GENERATIONS.OUTREACH AND ENGAGEMENT: THE ORGANIZATION REACHED OVER 1 MILLION PEOPLE THROUGH VARIOUS SOCIAL MEDIA CHANNELS AND OTHER VIRTUAL OUTREACH METHODS SUCH AS E-NEWSLETTERS, PRESENTATIONS, AND WEBINARS. IN ADDITION, THE ORGANIZATION ENGAGED IN-PERSON AUDIENCES BY ATTENDING AND PRESENTING AT CONFERENCES, TABLING EVENTS, AND HOSTING PROGRAMS AND VOLUNTEER EVENTS AT GLEN LEVEN FARM. THIS INCLUDES FREE MONTHLY COMMUNITY DAYS, VOLUNTEER OPPORTUNITIES FOR INDIVIDUALS AND COMPANIES, AND TOURS FOR STUDENTS AND GROUPS. 1389710 1 1 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 41 0 1 25 1 0 0 0 0 0 1 1 1 1 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN KY X X PAUL MALONE 6152445263 4000 FRANKLIN PIKE NASHVILLE TN 37204 ELIZABETH MCLAURIN PRESIDENT/CEO 40.00 X X 174424 0 12752 ROSEMARY MCILHENNY CHAIR 2.00 X X 0 0 0 DAVID DARST TREASURER 2.00 X X 0 0 0 GENTRY BARDEN DIRECTOR 2.00 X 0 0 0 LOUISE BEASLEY DIRECTOR 2.00 X 0 0 0 RICHARD BOVENDER DIRECTOR 2.00 X 0 0 0 ROBERT BRANDT DIRECTOR 2.00 X 0 0 0 DOUG CAMERON DIRECTOR 2.00 X 0 0 0 GEORGE CLEMENTS DIRECTOR 2.00 X 0 0 0 ROBIN EVERHART DIRECTOR 2.00 X 0 0 0 KELLY J GILL DIRECTOR 2.00 X 0 0 0 BILL HARTLEY DIRECTOR 2.00 X 0 0 0 JOE HODGSON DIRECTOR 2.00 X 0 0 0 GINNY KELLY DIRECTOR 2.00 X 0 0 0 MARK MANNER DIRECTOR 2.00 X 0 0 0 DALTON THOMPSON DIRECTOR 2.00 X 0 0 0 GREG A VITAL DIRECTOR 2.00 X 0 0 0 JEANNETTE SLOAN WARNER DIRECTOR 2.00 X 0 0 0 JAY WILLIAMS DIRECTOR 2.00 X 0 0 0 JENNY ZHANG DIRECTOR 2.00 X 0 0 0 PAUL MALONE DIRECTOR OF FINANCE 40.00 X 91356 0 11427 EMILY PARISH VICE PRESIDENT 40.00 X 130177 0 13368 395957 0 37547 2 0 1 0 0 401017 1538308 900 1939325 396596 396596 2232976 189234 2271419 175000 -38443 14234 -24209 -24209 24450 401017 187215 -162765 -162765 OTHER REVENUE 900099 1317 1317 1317 2150264 1317 0 209622 309430 97149 142662 69619 1096578 706245 193700 196633 27630 18045 3591 5994 144844 89042 29113 26689 99666 57488 23303 18875 10607 10227 380 23768 23768 43983 43983 14572 10526 2205 1841 27290 14631 4607 8052 90317 54070 20700 15547 146980 91932 35593 19455 53707 35048 9106 9553 100869 63090 24427 13352 102358 63897 24939 13522 TRANSACTION ASSISTANCE 20977 20977 DEVELOPMENT & FUNDRAISI 20043 9517 6256 4270 DUES & SUBSCRIPTIONS 18407 11743 2835 3829 EASEMENT PREPARATION 14024 14024 29348 22059 5081 2208 2395398 1389710 595869 409819 5016016 4765350 79971 148756 3448 5157 72219 99363 10045822 797615 9505234 9248207 8460997 9655044 195086 168337 23332971 24090214 22866 79639 197892 173408 220758 253047 X 13099115 14013952 10013098 9823215 23112213 23837167 23332971 24090214 -245134 970088 0 X X 0 1 X 1 0 X 2783286 2181768 3881078 2024619 1939325 12810076 2783286 2181768 3881078 2024619 1939325 12810076 1092688 11717388 152733 142872 418503 251339 396593 1362040 80961 100738 96698 278397 53207 198626 1317 253150 14703663 0.79690 0.70070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 432 103579.00 0 0 2 2 1 2514.00 109057 0 3045288 426204 44805 15141 3411546 3250691 -164326 26773 14304 3045288 3296200 31691 61043 16157 3250691 2437136 873042 13978 3296200 2639597 -79890 110000 12571 2437136 1.00000 0 0 6341771 6341771 3482506 640158 2842348 32675 8199 24476 188870 149258 39612 9248207 OPERATING AND FINANCE LEASE LIABILITIES 173408 173408 X 3358605 970088 20236 990324 2368281 -218017 -218017 2150264 2633651 20236 20236 2613415 -218017 -218017 2395398 PART II, LINE 3: 1) AMENDMENT TO ADD 83.5 ACRES TO AN EXISTING CONSERVATION EASEMENT. THE ADDITIONAL LAND ADDED 28 ACRES OF PRIME AGRICULTURAL SOILS, 3,967 FEET OF ROAD FRONTAGE, 50 FORESTED ACRES, AND 2,500 FEET OF UNNAMED TRIBUTARIES TO THE MIDDLE FORK OBION RIVER. THE AMENDMENT ALSO FURTHER DEFINED TWO HOMESTEAD AREAS THAT WERE RESERVED IN THE ORIGINAL CONSERVATION EASEMENT. OTHER PROVISIONS OF THE CONSERVATION EASEMENT WERE UPDATED TO BRING THEM IN LINE WITH CURRENT STANDARDS. 2) AMENDMENT TO SHRINK AND RELOCATE THE SECONDARY HOMESTEAD-FARMSTEAD AREA AS RETAINED IN THE ORIGINAL EASEMENT. THE AMENDMENT RELOCATED THE AREA TO ENCOMPASS AN EXISTING STRUCTURE AND REDUCED THE AREA FROM 9.5 ACRES TO 3 ACRES IN SIZE. THIS AMENDMENT FURTHER PROTECTS THE CONSERVATION VALUES OF THE PROPERTY BY REDUCING THE DEVELOPABLE AREA ON THE PROPERTY AND PROTECTING ADDITIONAL PRIME AGRICULTURAL SOILS. THE AMENDMENT ALSO CORRECTED A TYPOGRAPHICAL ERROR, AND OTHER PROVISIONS OF THE CONSERVATION EASEMENT WERE UPDATED TO BRING THEM IN LINE WITH CURRENT STANDARDS. PART II, LINE 5: EASEMENT MONITORING: THE LAND TRUST FOR TENNESSEE IS AN ACCREDITED LAND TRUST. ACCREDITATION RECOGNIZES AN ORGANIZATION'S COMMITMENT TO EXCELLENCE AND CONTINUAL LEARNING AND IMPROVEMENT. MONITORING IS THE REGULAR AND SYSTEMATIC GATHERING OF INFORMATION ABOUT A CONSERVED PROPERTY TO DETECT CHANGES AND TO ENSURE THAT THE PROPERTY IS BEING USED IN ACCORDANCE WITH THE RESTRICTIONS PLACED ON IT AND/OR MANAGEMENT PLAN. EACH PROPERTY, WHETHER PROTECTED BY A CONSERVATION EASEMENT OR OWNED BY LTTN (THE LAND TRUST FOR TENNESSEE), WILL BE MONITORED AT LEAST ONCE ANNUALLY IN A MANNER APPROPRIATE TO THE SIZE AND RESTRICTIONS OF THE PROPERTY. MONITORS MAY INCLUDE LTTN STAFF, BOARD OR COMMITTEE MEMBERS, TRAINED VOLUNTEERS, AND RELEVANT PROFESSIONALS. THE MONITOR FOLLOWS THE FOLLOWING BASIC STEPS FOR THE MONITORING VISIT: 1.CONTACT THE LANDOWNER TO INFORM HIM/HER OF THE VISIT AND TO INVITE THE LANDOWNER TO ACCOMPANY THE MONITOR. 2.PRIOR TO THE VISIT, REVIEW THE BASELINE DOCUMENTATION REPORT, PAST MONITORING REPORTS, AND THE CONSERVATION EASEMENT OR THE MANAGEMENT PLAN, WHICHEVER IS APPLICABLE, VIA FILE OR DATABASE. 3.BRING CONSERVATION EASEMENT SUMMARY ON THE SITE VISIT TO USE AS A REFERENCE. 4.IF MONITOR IS A VOLUNTEER, COMPLETE THE STEWARDSHIP MONITOR RELEASE FORM IF NOT COMPLETED AT VOLUNTEER TRAINING. 5.INSPECT THE CONSERVED PROPERTY, EITHER FROM THE AIR OR ON THE GROUND. WHILE INSPECTING, TAKE NOTES AND PHOTOGRAPHS. 6.FILL OUT A STEWARDSHIP SITE VISIT MONITORING FORM, PROVIDING A WRITTEN DOCUMENTATION OF WHAT WAS SEEN AND SUBMIT TO THE DIRECTOR OF STEWARDSHIP. IF THERE IS A SUSPECTED VIOLATION OF THE CONSERVATION EASEMENT, THEN THE FOLLOWING ENFORCEMENT OF EASEMENTS PROCEDURES IS FOLLOWED. ENFORCEMENT OF EASEMENTS: LTTN IS COMMITTED TO PROTECTING THE CONSERVATION VALUES AND PURPOSES EMBODIED IN ITS CONSERVATION EASEMENTS. AS A GENERAL RULE, THE BOARD OF DIRECTORS OF LTTN WILL ENFORCE THE TERMS OF ITS CONSERVATION EASEMENTS AND, CONSISTENT WITH SUCH TERMS, SEEK TO REMEDY VIOLATIONS THEREOF IN ORDER TO, AMONG OTHER THINGS, PROTECT THE CONSERVATION VALUES OF THE LAND, MAINTAIN PUBLIC CONFIDENCE IN LTTN'S MISSION, SUPPORT LTTN'S LEGAL AUTHORITY TO ENFORCE THE TERMS OF OTHER CONSERVATION EASEMENTS, AND MAINTAIN LTTN'S TAX-EXEMPT STATUS AS A CHARITABLE ORGANIZATION. IN CONNECTION WITH A STEWARD'S MONITORING OF A CONSERVATION EASEMENT, ANY SUSPECTED VIOLATION OF THE TERMS OF A CONSERVATION EASEMENT IS TO BE RECORDED ON THE FORM AND IMMEDIATELY REPORTED TO THE DIRECTOR OF STEWARDSHIP. VIOLATIONS MAY ALSO BE REPORTED BY A STAFF OBSERVATION OUTSIDE THE ANNUAL MONITORING VISITS OR BY AN UNRELATED THIRD PARTY, SUCH AS A NEIGHBOR, LOCAL GOVERNMENT AGENCY, OR OTHER COMMUNITY ORGANIZATION. 1.SUSPECTED VIOLATIONS, INCLUDING A DETAILED DESCRIPTION THEREOF, ARE RECORDED BY THE MONITORING STEWARD OR LTTN STAFF MEMBER RECEIVING NOTICE THEREOF. THE STEWARD OR STAFF MEMBER IS, TO THE EXTENT POSSIBLE, TO DISCERN AND DOCUMENT WHETHER THE SUSPECTED VIOLATION HAS BEEN CAUSED BY THE LANDOWNER OR SOME OTHER PERSON. THE MONITORING STEWARD WILL REFRAIN FROM DISCUSSING THE SUSPECTED VIOLATION WITH THE LANDOWNER. 2.THE MONITORING STEWARD OR STAFF PERSON WILL IMMEDIATELY REPORT THE SUSPECTED VIOLATION TO THE DIRECTOR OF STEWARDSHIP, WHO, IN TURN, WILL IMMEDIATELY INFORM THE VICE PRESIDENT OF CONSERVATION AND OTHER APPROPRIATE MEMBERS OF LTTN STAFF. 3.THE DIRECTOR OF STEWARDSHIP OR DESIGNATED STAFF MEMBER THEN CONSULTS THE ORIGINAL TERMS OF THE CONSERVATION EASEMENT AND EVALUATES THE DOCUMENTATION REGARDING THE SUSPECTED VIOLATION. IN THE CASE OF A NON-STEWARD OBSERVER, THE STEWARDSHIP MANAGER OR THE DIRECTOR OF STEWARDSHIP WILL SCHEDULE A MONITORING VISIT WITH THE LANDOWNER TO INSPECT THE SITE OF THE SUSPECTED VIOLATION AND TAKE PHOTOGRAPHS. THIS PHYSICAL INSPECTION WILL BE PERFORMED BY THE STEWARDSHIP MANAGER, DIRECTOR OF STEWARDSHIP, VP OF CONSERVATION, A BOARD MEMBER, OR ANY COMBINATION THEREOF. 4.ALL DOCUMENTATION OF THE SUSPECTED VIOLATION (INCLUDING PHOTOGRAPHS, IF ANY) WILL BE RECORDED IN LTTN'S STEWARDSHIP FILES RELATING TO THE AFFECTED CONSERVATION EASEMENT. 5.UNLESS IT IS CLEAR THAT NO VIOLATION OF THE CONSERVATION EASEMENT HAS OCCURRED, THE STEWARDSHIP MANAGER OR THE DIRECTOR OF STEWARDSHIP WILL THEN DISCUSS POTENTIAL RESOLUTIONS WITH OTHER STAFF MEMBERS. IN ADDITION, THE LAND PROTECTION STAFF MAY DISCUSS POTENTIAL RESOLUTIONS WITH THE STEWARDSHIP AND CONSERVATION COMMITTEE, LTTN'S ATTORNEY, AND THE BOARD OF DIRECTORS WHEN APPROPRIATE. 6.THE DIRECTOR OF STEWARDSHIP OR THE STEWARDSHIP MANAGER WILL CONTACT THE LANDOWNER BY TELEPHONE TO EXPLAIN THE PROBLEM AND REQUEST A CORRECTION, REPLACEMENT AND/OR CESSATION OF ACTIVITY. THE LANDOWNER WILL BE GIVEN AN APPROPRIATE DEADLINE FOR COMPLIANCE AND NOTIFIED THAT A LETTER SUMMARIZING THE CONVERSATION WILL BE SENT IMMEDIATELY. 7.A FOLLOW-UP LETTER WILL BE SENT TO THE LANDOWNER REITERATING ORAL EXPLANATIONS, REQUESTS, AND THE COMPLIANCE DEADLINE. ALL CORRESPONDENCE RELATED TO A SUSPECTED VIOLATION WILL BE SENT CERTIFIED MAIL, RETURN RECEIPT REQUESTED WITH A COPY SENT TO LTTN'S ATTORNEY. 8.ON THE DAY OF THE COMPLIANCE DEADLINE, THE SITE OF THE VIOLATION WILL BE INSPECTED FOR COMPLIANCE BY THE STEWARDSHIP MANAGER, THE DIRECTOR OF STEWARDSHIP, OR VP OF CONSERVATION. IF THE VIOLATION HAS BEEN CORRECTED, THEN LTTN WILL SEND AN OFFICIAL LETTER TO THE LANDOWNER STATING THAT THE COMPLIANCE IS RECOGNIZED AND THANKING THE LANDOWNER FOR HIS/HER COOPERATION. IF THE VIOLATION HAS NOT BEEN RECTIFIED, THEN A SECOND LETTER WILL BE SENT TO THE LANDOWNER RESTATING THE REQUIRED CORRECTION AND ESTABLISHING A NEW COMPLIANCE DEADLINE DATE. LTTN'S ATTORNEY WILL BE COPIED ON THIS LETTER AS WELL. 9.ON THE SECOND DEADLINE DATE, THE STEWARDSHIP MANAGER, THE DIRECTOR OF STEWARDSHIP, OR VP OF CONSERVATION WILL RE-INSPECT THE SITE OF THE VIOLATION. IF COMPLIANCE IS ACHIEVED, THEN LTTN WILL SEND THE OFFICIAL LETTER TO THE LANDOWNER STATING THAT THE COMPLIANCE IS RECOGNIZED AND THANKING THE LANDOWNER FOR HIS/HER COOPERATION. IF ON THE SECOND DEADLINE, THE LANDOWNER REMAINS NON-COMPLIANT, THEN LTTN'S LEGAL COUNSEL, BOARD OF DIRECTORS, AND THE STEWARDSHIP AND CONSERVATION COMMITTEE WILL BE CONTACTED TO DISCUSS POTENTIAL LEGAL ACTION. 10.WITH THE ADVICE OF LTTN'S LEGAL COUNSEL, BOARD OF DIRECTORS, AND APPROVAL BY THE STEWARDSHIP AND CONSERVATION COMMITTEE, LTTN WILL CONSIDER ENFORCEMENT OF THE EASEMENT THROUGH MEDIATION, ARBITRATION, LITIGATION, OR OTHER MEANS CONSISTENT WITH THE TERMS OF THE CONSERVATION EASEMENT. 11.UNLESS OTHERWISE SPECIFIED BY THE BOARD OF DIRECTORS, LTTN'S DIRECTOR OF STEWARDSHIP, PRESIDENT & CEO, OR VP OF CONSERVATION WILL ACT AS SPOKESPERSON WITH RESPECT TO THE VIOLATION WHEN AND IF THE MEDIA IS INVOLVED. THE FOREGOING NOTWITHSTANDING, ANY DETERMINATION REGARDING WHETHER AND HOW TO ENFORCE A CONSERVATION EASEMENT IS WITHIN THE DISCRETION OF LTTN'S BOARD OF DIRECTORS, WHICH DISCRETION WILL BE EXERCISED ON A CASE-BY-CASE BASIS. PART II, LINE 9: THE LAND TRUST FOR TENNESSEE DOES NOT CONSIDER CONSERVATION EASEMENTS TO HOLD ANY MONETARY VALUE. SELECT PROPERTY RIGHTS ARE DONATED TO THE LAND TRUST FOR TENNESSEE, AND THOSE RIGHTS ARE EXTINGUISHED THROUGH THE DONATION, THEREFORE THEY HAVE NO RESIDUAL VALUE OR AFFIRMATIVE RIGHTS. FINANCIAL STATEMENT FOOTNOTE: CONSERVATION EASEMENTS HELD BY THE ORGANIZATION ARE NOT RECOGNIZED AS ASSETS IN THE ACCOMPANYING FINANCIAL STATEMENTS. ASSETS ARE DEFINED AS PROBABLE FUTURE ECONOMIC BENEFITS OBTAINED OR CONTROLLED BY AN ENTITY; THE ORGANIZATION DOES NOT BELIEVE THAT THE EASEMENTS MEET THE DEFINITION CRITERIA. PART V, LINE 4: THE BOARD-DESIGNATED QUASI-ENDOWMENT FUND ("ASHBY FUND") CONSISTS OF FUNDS THAT WERE TRANSFERRED TO THE QUASI-ENDOWMENT BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS ANTICIPATES THESE FUNDS WILL REMAIN IN THE QUASI-ENDOWMENT IN PERPETUITY, BUT MAY WITHDRAW THEM FOR OTHER USES. PART X, LINE 2: MANAGEMENT PERFORMS AN EVALUATION OF ALL INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE LAND TRUST'S INCOME TAX RETURNS TO DETERMINE WHETHER THE INCOME TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS PERFORMED ITS EVALUATION OF ALL INCOME TAX POSITIONS TAKEN ON ALL OPEN INCOME TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. ACCORDINGLY, THERE ARE NO PROVISIONS FOR INCOME TAXES, PENALTIES, OR INTEREST RECEIVABLE OR PAYABLE RELATING TO UNCERTAIN INCOME TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -218,017. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -218,017. ONCE IN A BLUE MOON 425467 401017 24450 73643 44700 4000 64872 425467 401017 24450 73643 44700 4000 64872 187215 -162765 X X X 0 0 0 0 0 0 0 0 0 ELIZABETH MCLAURIN PRESIDENT/CEO 174424 0 0 0 0 0 0 0 12752 0 187176 0 0 0 X 9 CONSERVATION EASEMENT 7 0 1 0 PART I, COLUMN (B): PART 1 COLUMN (B) - THE NUMBER OF CONTRIBUTIONS IS REPORTED IN THIS COLUMN. FORM 990, PART VI, SECTION B, LINE 11B UPON RECEIPT OF THE FINAL FORM 990 IN ITS ENTIRETY FROM OUR TAX PREPARER, THE FORM 990 IS SUBMITTED TO THE BOARD OF DIRECTORS FOR APPROVAL. ONCE THE APPROVAL IS RECEIVED FROM THE BOARD, THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C STAFF, BOARD MEMBERS, AND VOLUNTEERS FILL OUT A FORM DISCLOSING ANY OF THEIR RELATED PARTIES OR POTENTIAL CONFLICTS OF INTEREST AND THAT THEY HAVE A CLEAR UNDERSTANDING OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. EACH STAFF MEMBER, BOARD MEMBER, AND VOLUNTEER IS EXPECTED TO DISCLOSE EITHER TO THE BOARD CHAIRMAN OR PRESIDENT & CEO ANY EXISTENCE OF ANY POTENTIAL CONFLICT OF INTEREST, TO ABSTAIN FROM PARTICIPATION IN ANY OF THE LAND TRUST'S DISCUSSIONS, TO ABSTAIN FROM WORKING ON THE TRANSACTION AND FROM VOTING ON THE TRANSACTION OR PROJECT GIVING RISE TO SUCH CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, EMPLOYEES ARE FORMALLY REVIEWED BEFORE THE END OF EACH FISCAL YEAR BY THEIR SUPERVISOR. THE PRESIDENT & CEO'S COMPENSATION IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THE REVIEW USES THE LATEST SALARY AND BENEFIT INFORMATION SURVEY CONDUCTED BY THE INDUSTRY AND THE LAND TRUST ALLIANCE. ANY FURTHER INFORMATION IS PROVIDED TO THE EXECUTIVE COMMITTEE AS REQUESTED. FORM 990, PART VI, SECTION C, LINE 19 THE LAND TRUST FOR TENNESSEE'S GOVERNING DOCUMENTS ARE THEIR BYLAWS AND CHARTER, WHICH ARE REVIEWED ANNUALLY AND ARE PUBLIC RECORD, ALSO AVAILABLE BY REQUEST TO MEMBERS OF THE PUBLIC. OUR FINANCIAL STATEMENTS AND 990 ARE ALSO AVAILABLE BY REQUEST, AND ARE POSTED AT GUIDESTAR AND THE COMMUNITY FOUNDATION OF MIDDLE TENNESSEE'S GIVING MATTERS WEBSITE. THE CONFLICT OF INTEREST POLICY OF THE LAND TRUST FOR TENNESSEE'S PURPOSE IS TO IDENTIFY CONFLICTS OF INTEREST INVOLVING THE ORGANIZATION AND RELATED PARTIES (E.G. INSIDERS, RELATED PERSONS, THOSE WITH MATERIAL FINANCIAL INTERESTS IN TRANSACTIONS, SUBSTANTIAL CONTRIBUTORS, AND STAFF), AS WELL AS SITUATIONS THAT MAY CREATE THE APPEARANCE OF A CONFLICT OF INTEREST, AND TO ADDRESS SUCH CONFLICTS AND SITUATIONS IN A MANNER THAT WILL FULLY PROTECT THE INTEGRITY AND REPUTATION OF THE ORGANIZATION AS WELL AS RELATED PARTIES. ON AN ANNUAL BASIS, OUR STAFF, BOARD AND TRUSTEE COUNCIL MEMBERS ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST FORM AND ACT IN ACCORDANCE WITH THIS POLICY. THE POLICY IS AVAILABLE BY REQUEST TO MEMBERS OF THE PUBLIC. FORM 990, PART XII, LINE 2C THE ORGANIZATION'S OVERSIGHT PROCESS AND SELECTION PROCESS HAVE NOT CHANGED FROM THE PRIOR YEAR.