2022-08-25T07:38:44-07:00 2021-12-31 202571677 CORLISS & SOLOMON PLLC 242 CHARLOTTE ST SUITE 1 ASHEVILLE NC 28801 990 2021-01-01 562142199 Mainspring Conservation Trust Inc MAIN 8285242711 PO Box 1148 Franklin NC 287441148 Jordan Smith Executive Director 8285242711 2022-08-24 true Jordan Smith Stephen C Corliss P01333317 8282360206 2022-08-25 3 AAL1 IAL1 FAL1 2021 2022-09-23 18:48:47Z Jordan Smith PO Box 1148 Franklin NC 287441148 8386424 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 17 254 0 0 2218607 7952452 27517 25340 326463 96761 15104 32220 2587691 8106773 0 0 637366 711765 0 85502 2602110 4059107 3239476 4770872 -651785 3335901 12371007 16628331 881433 1691583 11489574 14936748 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 4473178 0 25340 In 2021, Mainspring conserved 1,200 acres in 11 transactions, including five new conservation easements. Mainspring also placed restrictions on two properties to limit development rights, then divested them to conservation buyers. Mainspring acquired seven properties in Macon and Jackson counties, including one property purchased through funding from a North Carolina Land and Water Fund grant. Mainspring also received a donation of 325 acres of forested land in Macon County on Onion Mountain. Mainspring conserved more than 340 acres of prime farmland on the Valley River in Cherokee County, utilizing grants from the Agricultural Development and Farmland Preservation Trust Fund, as well as the Natural Resources Conservation Services Agricultural Lands Easement Program. Mainspring continued to monitor 81 conservation easements totaling 13,300 acres and 20 fee properties totaling 1,869 acres. Volunteers contributed more than 469 hours to help improve the landscape through habitat management and recreational improvements. Restoration: As part of Mainspring's restoration program, Mainspring improved 1,600 feet of streambank by planting trees and permitted construction. 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 43 events around water targeted to youth education, citizen science, and/or community engagement. These events included four trash pickups, 27 fish biomonitoring surveys, and 8 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. 4473178 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 24 0 true 17 true false false false false false false true 1 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 76774 0 11991 Jason Love Chair 4.00 X X 0 0 0 David Adams Vice Chair 4.00 X X 0 0 0 James Stork Secretary 4.00 X X 0 0 0 Rita Salain Treasurer 4.00 X X 0 0 0 Connie Haire Immediate Past Chair 3.00 X 0 0 0 Chris Brouwer Board Member 3.00 X 0 0 0 Fred Crawford Board Member 3.00 X 0 0 0 Jim Garner Board Member 3.00 X 0 0 0 Bill Gibson Board Member 3.00 X 0 0 0 Ed Haight Board Member 3.00 X 0 0 0 Hope Huskey Board Member 3.00 X 0 0 0 Terrie Kelly Board Member 3.00 X 0 0 0 Lisa Leatherman Board Member 3.00 X 0 0 0 Ben Steere Board Member 3.00 X 0 0 0 John Strawn Board Member 3.00 X 0 0 0 76774 0 11991 false false false 2598316 5354136 899158 7952452 Stewardship Contracts 541990 9237 0 0 Conservation Project Administration 541990 16103 0 0 25340 31903 0 31903 30166 13651 16515 16515 20166 -3651 858 330000 266000 858 64000 64858 64000 0 858 Miscellaneous 900099 15705 0 0 15705 15705 8106773 109506 0 44815 88765 65600 15248 7917 509621 375656 87044 46921 27534 19435 5740 2359 37875 28870 6289 2716 47970 35498 8155 4317 17946 0 17946 0 12052 0 12052 0 209414 191974 16267 1173 71 0 55 16 11893 7349 1553 2991 16800 8877 4050 3873 25514 22153 1490 1871 14399 12534 1801 64 10285 1919 7440 926 39602 28716 10886 0 35981 29552 5642 787 Easement and Land Purchases 2762977 2762977 0 0 Below Book Value Land Sales 61559 61559 0 0 Devaluation from Easement Protections 743187 743187 0 0 Land Disbursement Expense 17187 17187 0 0 80240 60135 10534 9571 4770872 4473178 212192 85502 41032 89849 2682292 3088951 13945 17077 0 14854 19585 11615800 147974 8123028 11467826 1257 1069 1494599 1943974 12371007 16628331 26811 77861 69841 126195 247147 1463799 537634 23728 881433 1691583 X 10195602 12601859 1293972 2334889 11489574 14936748 12371007 16628331 X 3335901 136248 -24975 X X false true X true false X 0 4327922 1717851 5066647 2218607 7952452 21283479 0 0 4327922 1717851 5066647 2218607 7952452 21283479 933824 20349655 47506 63266 83001 62101 62069 317943 0 8137 3811 11271 4463 15705 43387 21644809 600355 0.94020 0.86530 X 0 0 0 Pt II Ln 10 Other Income Part II, Line 10 Description: Other Revenue 2017: 8137. 2018: 3811. 2019: 11271. 2020: 4463. 2021: 15705. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 69 7898.70 1 2 true 469.00 44075 true 1296302 37175 169645 27337 12052 1463733 1069446 115473 154262 32720 10159 1296302 919781 12008 180012 34575 7780 1069446 1004711 5593 -54168 28975 7380 919781 884752 9750 136642 19170 7263 1004711 0.14090 0.38840 0.47070 true false 80000 10163903 10243903 387115 23257 363858 118492 62927 55565 866290 61790 804500 11467826 Options and Escrow Deposits 17000 Endowment held by Community Foundation of WNC 1461733 Conservation Land Subject to Life Estate, Net 463991 Security Deposit 1250 1943974 Fiscal Agent Funds Payable 23728 Return of Contributions Liability 0 23728 X 7383001 136248 1200 13651 151099 7231902 12052 862819 874871 8106773 3993900 1200 38626 39826 3954074 12052 804746 816798 4770872 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 2021 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 XI, Line 4b Land Sales-Net $64,000; Land donations $798,819 Pt XII, Line 2d Return of donations $24,975; Rental Expenses $13,651 Pt XII, Line 4b Below book value land sales $61,559; Easement Devaluation $743,187 Pt II, Line 3 NA Pt XI, Line 2d Rental Expenses $13,651 X 4 100040 Stock Market Value 0 X 4 798819 Appraisal X Supplies 1 299 Fair Market Value 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 approval. 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 In the annual budgeting process, the Board approves a budget line for aggregate salary expense. Thereafter, the Executive Director gives consideration to comparable salary information for land trust nonprofit organizations with similar budgets, as available, and local job markets. The Executive Committee sets the Executive Director salary after a performance review and a check of comparable salary information for related land trust nonprofit organizations with similar budgets. 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 contribtuion $24975