2023-11-13T13:23:41-08:00 2022-12-31 202571677 CORLISS & SOLOMON PLLC 242 CHARLOTTE ST SUITE 1 ASHEVILLE NC 28801 990 2022-01-01 562142199 Mainspring Conservation Trust Inc MAIN 8285242711 PO Box 1148 Franklin NC 287441148 Jordan Smith Executive Director 8285242711 2023-11-13 true Jordan Smith true Todd Oldenburg P02281691 8282360206 2023-11-13 3 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z Jordan Smith PO Box 1148 Franklin NC 287441148 5321445 false X www.mainspringconserves.org X 1999 NC Located in the heart of the Southern Blue Ridge, the mission of Mainspring Conservation Trust is to conserve the waters, forests, farms and heritage of the Upper Little Tennessee and Hiwassee River Valleys. 15 15 17 135 1327 0 7952452 5178744 25340 33216 96761 -38809 32220 18762 8106773 5191913 0 0 711765 720548 0 70816 4059107 3306329 4770872 4026877 3335901 1165036 16628331 16322410 1691583 483237 14936748 15839173 The mission of Mainspring Conservation Trust is to conserve the waters, forests, farms and heritage of the Upper Little Tennessee and Hiwassee River Valleys. We are dedicated to three core initiatives: conserve the land, restore the water, and connect the people to these valuable resources. false false 3771056 0 33216 Land In 2022, Mainspring completed twelve land transactions conserving over 945 acres in the six westernmost counties in NC, including four new conservation easements and one agricultural easement amendment. Two conservation easements were acquired in Jackson County and Swain County with the help of the North Carolina Land and Water Fund. Another easement in Swain County was through a grant from the Agricultural Development and Farmland Preservation Trust Fund. Mainspring acquired one property in Cherokee County, one in Clay County, two in Macon County, and two in Jackson County, one of which is a 124-acre forested tract donated to Mainspring near the Western Plott Balsam Mountains. One divestment of a conserved tract to the Town of Franklin will extend the Little Tennessee River Greenway, connect to the Macon County Rec Park and reroute Bartram Trail hikers off the road. Mainspring continued to monitor 91 conservation easements totaling 14,170 acres and 19 fee properties totaling 1,030 acres. Volunteers contributed more than 864 hours to help improve the landscape through habitat management and recreational improvements. Water As part of Mainspring's restoration program, Mainspring focused on finalizing designs and permitting a large wetland-complex project. Beyond stabilizing streambanks by limiting erosion, these shrubs and trees will buffer stream temperatures during warm months, provide a source of food and habitat to fish and other aquatic organisms, and soak up excess nutrients from the land. Mainspring also held 68 events around water targeted to either youth education, citizen science, or community engagement. These events included two trash pickups, 30 fish biomonitoring surveys, and five snorkeling events. Cultural Heritage Mainspring continued its efforts to conserve significant cultural heritage areas and to facilitate enhanced management and non-invasive research to better understand these resources. Through partnership with the Eastern Band of Cherokee Indians, Western Carolina University, the Cherokee Preservation Foundation, the NC Trail of Tears Association, and others work continues to identify culturally-significant unprotected sites and ensure they are conserved. 3771056 true true false false false false true false false true true false false true true true true false false false false false false false false false false false false false false false false false false false false false true true false false false false false false false false true 20 0 true 17 true true true false false false false false false false false false false false false false false false X 15 15 false false false false false false false true true false false true true true true true true true false false NC GA FL X X X Jordan M Smith 8285242711 557 E Main St Franklin NC 28734 Jordan Smith Executive Director 40.00 X 84367 0 12548 Jason Love Chair 3.00 X X 0 0 0 David Adams Vice Chair 3.00 X X 0 0 0 James Stork Secretary 2.00 X X 0 0 0 Jim Garner Treasurer 2.00 X X 0 0 0 Chris Brouwer Board Member 2.00 X 0 0 0 Fred Crawford Board Member 2.00 X 0 0 0 Connie Haire Board Member 2.00 X 0 0 0 Bill Gibson Board Member 2.00 X 0 0 0 Ed Haight Board Member 2.00 X 0 0 0 Hope Huskey Board Member 2.00 X 0 0 0 Terrie Kelly Board Member 2.00 X 0 0 0 Lisa Leatherman Board Member 2.00 X 0 0 0 Ben Steere Board Member 2.00 X 0 0 0 John Strawn Board Member 2.00 X 0 0 0 Rita Salain Board Member 2.00 X 0 0 0 84367 0 12548 false false false 2125 2066663 3109956 447705 5178744 Stewardship Contracts 541990 13863 0 0 Program Services 541990 19353 0 0 33216 24680 0 24680 25809 9673 16136 16136 14809 1327 206 49500 113195 206 -63695 -63489 0 0 -63489 2310 2125 2557 -247 0 -247 295 1055 -760 -760 6585 3052 3533 3533 Miscellaneous 900099 100 0 0 100 100 5191913 51558 1327 -39716 96915 73656 15507 7752 509782 390669 81004 38109 28884 22547 3849 2488 35903 27216 5831 2856 49064 36798 8341 3925 29580 27455 2125 0 18120 0 18120 0 1817 0 1817 0 302383 294059 6946 1378 134 134 0 0 26357 14533 4153 7671 6139 4326 1379 434 13991 12602 680 709 19049 17010 1936 103 8578 1485 6706 387 22494 20767 1090 637 56943 45040 11903 0 33091 26606 4710 1775 Easement and Land Purchase Expenses 1033664 1033664 0 0 Property Tax-Lands 14749 14749 0 0 Devaluation from Easement Protections 1680000 1680000 0 0 Supplies and Materials 14718 10551 3115 1052 24522 17189 5793 1540 4026877 3771056 185005 70816 89849 86383 3088951 1366713 17077 77420 19585 22898 12722776 178820 11467826 12543956 401950 1069 75347 1943974 1747743 16628331 16322410 77861 55024 126195 159753 1463799 244732 23728 23728 1691583 483237 X 12601859 14527982 2334889 1311191 14936748 15839173 16628331 16322410 X 1165036 -234611 -28000 X X false true X true false X 0 1717851 5066647 2218607 7952452 5178744 22134301 0 0 1717851 5066647 2218607 7952452 5178744 22134301 920525 21213776 63266 83001 62101 62069 50489 320926 0 3811 11271 4463 15705 100 35350 22490577 431473 0.94320 0.94020 X 0 0 0 Pt II Ln 10 Other Income Part II, Line 10 Description: Other Revenue 2018: 3811. 2019: 11271. 2020: 4463. 2021: 15705. 2022: 100. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 71 8094.80 0 2 2 true 833.00 29422 true 1463733 33114 -219102 30828 1817 1245100 1296302 37175 169645 27337 12052 1463733 1069446 115473 154262 32720 10159 1296302 919781 12008 180012 34575 7780 1069446 1004711 5593 -54168 28975 7380 919781 0.21360 0.41150 0.37490 true false 80000 11568036 11648036 296937 40211 256726 42568 7609 34959 51982 32946 19036 683253 98054 585199 12543956 Options and Escrow Deposits 15500 Endowment held by Community Foundation of WNC 1245100 Conservation Land Subject to Life Estate, Net 485993 Security Deposit 1150 1747743 Fiscal Agent Funds Payable 23728 23728 X 4709701 -234611 80032 -154579 4864280 1817 325816 327633 5191913 2389397 44337 44337 2345060 1817 1680000 1681817 4026877 Pt II, Line 5 CEs are monitored by Mainspring's conservation easement monitoring staff at least annually with a report to Mainspring's files and the landowner. The handling of violations, monitoring and enforcement are covered in Mainspring's Stewardship Policy Manual. Pt II, Line 9 Conservation easements purchased are expensed at cost. Conservation easements received by donation are not recorded in the organization's books.(See Schedule O for further information.) Other Mainspring has three accounts at the Community Foundation of WNC. Two are for stewardship purposes (The Permanent and nonpermanent funds) and the income generated from those funds is for conservation easement stewardship, land acquisition and other conservation purposes consistent with the purpose and terms of the fund. The third account is the Mainspring Endowment Fund and funds generated from that fund can be used for operations. Pt X, Line 2 Mainspring is exempt from federal income taxes under 501(c)(3) of the Internal Revenue Code. Under the Code, however,income from certain activities not related to the organization's tax-exempt purpose may be subject to taxation as unrelated business income. Mainspring had income from unrelated business activities in the 2022 fiscal year and was, therefore, required to file Federal Form 990-T (Exempt Organization Business Income Tax Return). Management anticipates that taxes payable, if any, will not be material to the financial statements. The organization believes that it has appropriate support for all tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. Pt II, Line 3 In 2022, Stateline Dairy was amended and Tellico Creek was reduced by 0.3 acres. Pt XI, Line 2d Rental Expenses $9,673; Fundraising Expenses $2,557; Cost of Goods Sold $3,052, Raffle Expenses $1,055 Pt XI, Line 4b Life Estate Contributions $22,001; Land Contributions $303,815 Pt XII, Line 2d Rental Expenses $9,673; Fundraising Expenses $2,557; Cost of Goods Sold $3,052;Raffle Expenses $1,055 Return of Contributions $28,000 Pt XII, Line 4b Easement Devaluation $1,600,000 X 6 120824 FMV 0 X 6 303815 Appraisal X Life Estate Property Donations 1 22001 Present Value of the Appraisal X Fundraising Items 6 1065 FMV 4 false true false Pt I Line 30b Mainspring does not carry conservation easements as assets on it's books. Donated conservation easements are not recognized in revenue. Other Line 17 Real estate - Other - Land donations are reported on this line. Other Per the Bylaws, the Executive Committee may exercise the powers of the Board between Board meetings, except as may be limited by the North Carolina Nonprofit Corporation Act, or may make recommendations to the Board with respect to any matters that come before it. All actions taken by the Executive Committee shall be reported to the Board of Directors at the meeting following such action. Pt VI, Line 11b The 990 is initially reviewed by the Finance Manager and the Executive Director. It is then provided to the Finance Committee for review and acceptance. Finally, the 990 is sent to the Board of Directors prior to filing. Pt VI, Line 12c A conflict of interest statement is handed out to the Board of Directors in attendance at the first board meeting of the new year and are asked to complete it and hand it in at that time. The statement is mailed to any board members who misses that meeting. To ensure all the completed forms are returned within one month, a designated staff member follows up with anyone who has not submitted the signed form. Staff is given a Conflict of Interest statement to complete each January, or if new to the organization at their time of hire. The Finance Manager reviews the statements. In addition, the Executive Director monitors the statements for any possible conflicts of interest. Pt VI, Line 15a Mainspring's Executive Committee does an annual performance evaluation of the E.D. and uses LTA and industry benchmarks to determine salary increase. The Board of Directors uses an executive session at its February board meeting to present & discuss the E.D. performance review and vote on an annual increase. Pt VI, Line 18 Form 1023 is available upon request. Forms 990 are available on the IRS website, the websites of many charity watch organizations, such as Guidestar, and MCT's website. Pt VI, Line 19 Governing documents, Conflict of Interest policy and audited financial statements are available upon request. Pt XII, Line 2c The Audit Committee directly reviews the audit. Other Sch D, Ln 3&5 - Since U.S. GAAP does not provide specific guidance on the accounting treatment for conservation easements, land trust organizations in the U.S. use several different methods to account for the easements they hold. Mainspring has adopted one such method which is widely used by other land trusts. Under this method, conservation easements are not recognized as assets. Accordingly, easements received by donation are not recorded in income and easements purchased by the organization are recorded as expenses. Management believes that this method results in financial statements that most accurately reflect the organization's financial activities. Pt XI Return of contribution $24975