2022-10-20T08:56:46-04:00 2021-12-31 341602442 H & J CERTIFIED PUBLIC ACCOUNTANTS INC 7555 FREDLE DR STE 110 CONCORD OH 44077 990 2021-01-01 341859064 WEST CREEK CONSERVANCY WEST 2167493720 7381 CAMELOT DR PARMA OH 441347113 DEREK C SCHAFER EXECUTIVE DIRECTOR 2167493720 2022-09-19 true DEREK SCHAFER XXX-XX-XXXX ROLLAND B STANDISH P00169705 4409512997 2022-09-17 2021 2022-09-23 18:48:47Z DEREK C SCHAFER 7381 CAMELOT DR PARMA OH 441347113 8579239 false X WESTCREEK.ORG X 2000 OH OUR MISSION IS TO ENRICH THE LIVES OF ALL PEOPLE IN NORTHEAST OHIO BY CONSERVING NATURAL HABITATS, RESTORING THE ECOLOGICAL VALUE OF OUR REGION'S LANDS AND WATERS, AND EXPANDING OPPORTUNITIES TO CONNECT PEOPLE FROM ALL CULTURES TO EXPERIENCE NATURE AND DISCOVER OUR GREAT OUTDOORS. 18 18 8 152 0 4991058 5966165 1765059 2358052 -135354 0 8765 239457 6629528 8563674 0 0 398558 409849 0 41207 7437796 7920987 7836354 8330836 -1206826 232838 2936867 2888241 1189416 907952 1747451 1980289 X OUR MISSION IS TO ENRICH THE LIVES OF ALL PEOPLE IN NORTHEAST OHIO BY CONSERVING NATURAL HABITATS, RESTORING THE ECOLOGICAL VALUE OF OUR REGION'S LANDS AND WATERS, AND EXPANDING OPPORTUNITIES TO CONNECT PEOPLE FROM ALL CULTURES TO EXPERIENCE NATURE AND DISCOVER OUR GREAT OUTDOORS. false false 8077264 2358052 WEST CREEK CONSERVANCY (FKA WEST CREEK PRESERVATION COMMITTEE) PROTECTS AND RESTORES NATURAL AREAS, OPEN SPACES, STREAM AND WATER RESOURCES THROUGHOUT NORTHEAST OHIO. IN A STRATEGIC WATERSHED RESTORATION APPROACH, WE'RE ACTIVELY RECLAIMING UNSUSTAINABLY DEVELOPED LANDS IN ORDER TO RESTORE THEIR FUNCTIONALITY AND ECOLOGICAL INTEGRITY. MUCH OF OUR WORK INCLUDES REFORESTING DEGRADED AREAS, CREATING OR ENHANCING WETLANDS, AND RESTORING STREAMS AND WATERWAYS. ADDITIONALLY, WE MAKE SIGNIFICANT EFFORTS TO RETROFIT THE 'BUILT' ENVIRONMENT WITH THE INSTALLATION OF APPROPRIATE GREEN INFRASTRUCTURE AND OTHER STORMWATER CONTROL MEASURES, ALL IN AN EFFORT TO IMPROVE AND PROTECT WATER QUALITY - AND INHERENTLY OUR REGION'S DRINKING WATER RESOURCES. CONSERVATION AND RESTORATION ON SUCH A WATERSHED-BASED APPROACH SUBSEQUENTLY CREATES LINEAR GREEN CORRIDORS THAT OFTEN PROVIDE THE GROUNDWORK FOR TRAIL AND GREENWAY NETWORKS, AS WELL AS NATURAL WILDLIFE CORRIDORS. PUZZLING TOGETHER OTHERWISE FRAGMENTED GREENSPACE AND NATURAL CORRIDORS IS AN IMPLICIT WAY TO DIRECTLY CONNECT PEOPLE TO THESE AMAZING PLACES AND SPACES (WHILE ALSO PROVIDING ALTERNATIVES FOR LOCAL TRANSPORTATION). AT WEST CREEK CONSERVANCY, WE BELIEVE THAT CLEAN STREAMS AND RIVERS, ABUNDANT NATURAL AREAS, NEIGHBORHOOD GREENSPACES, AND EQUITABLY ACCESSIBLE WALKING AND BIKING TRAILS ARE AN IMPORTANT PART OF A HEALTHY, THRIVING, AND SUSTAINABLE REGION. PARKS, TRAILS, AND GREENWAYS ARE A CRITICAL FACET OF OUR COMMUNITY'S INFRASTRUCTURE, SIMILAR TO THAT OF WATER AND SEWER; AND AS SUCH, WE SHOULD MAKE EVERY EFFORT TO PROTECT AND RESTORE SUCH ASSETS. WE ARE DEDICATED TO OUR MISSION OF CONSERVATION BECAUSE NORTHEAST OHIO IS OUR HOME, AND THE PLACES WE PROTECT AND RESTORE DIRECTLY IMPACT OUR DRINKING WATER AND THE HEALTH OF LAKE ERIE. WE INVITE YOU TO HELP WEST CREEK CONSERVANCY MAKE NORTHEAST OHIO A GREENER-GREATER PLACE TO LIVE, WORK, AND VISIT. WE ARE PROUD OF THE FACT THAT WE COLLABORATE WITH A VAST ARRAY OF INDIVIDUALS, LANDOWNERS, NON- PROFITS, COMMUNITY GROUPS, MUNICIPALITIES, PARK DISTRICTS, AND BUSINESSES ON MANY DIFFERENT TYPES OF CONSERVATION, RESTORATION, LAND RE-USE, AND RECREATIONAL TRAIL PROJECTS. WE OFFER MANY OPPORTUNITIES TO ENGAGE VOLUNTEERS, AS WELL AS OPPORTUNITIES TO GET OUTSIDE, LEARN ABOUT, AND ENJOY OUR LOCAL GREAT OUTDOORS. THROUGHOUT THE YEAR, WE HOST CLEAN-UPS, PLANTINGS, TOURS, SEASONALLY GUIDED HIKES, AS WELL AS VARIOUS TRAININGS. WHETHER YOU ATTEND A MEETING, OUTING, OR EVENT; MAKE A DONATION; PROTECT YOUR LAND; OR VOLUNTEER YOUR TIME AND ENERGY, YOUR PARTICIPATION AND SUPPORT MAKES A VITAL AND LASTING DIFFERENCE. EQUITABLY ACCESSIBLE PARKS, TRAILS, AND OUTDOOR PUBLIC SPACES ARE MORE IMPORTANT THAN EVER, NOT ONLY FOR PHYSICAL HEALTH AND RECREATION, BUT BECAUSE THEY OFFER A PLACE OF RESPITE, A PLACE TO DISCONNECT FROM THE EVERYDAY AND, AT THE SAME TIME, RECONNECT WITH OUR AMAZING NATURAL WORLD. THESE GREENSPACES AND WATERWAYS ARE LITERALLY THE FABRIC OF OUR INFRASTRUCTURE. WE ARE PROUD TO BE A PART OF THIS EFFORT AND WE RECOGNIZED THAT THROUGHOUT 2020-2021, IT BECAME EVER MORE POINTEDLY IMPORTANT. 8077264 true true false false false false true false false false true false false false false true true true false false false false false false true false false false false false false false false false false false false false true true false false true false false false false true 32 0 true 8 true false false false false false true true true 1 false false false false false false false X 18 18 false false false false false false false true true false false true true true true true true true false false OH X DEREK C SCHAFER 2167493720 7381 CAMELOT DR PARMA OH 441347113 DEREK C SCHAFER EXECUTIVE DI 40.00 X 94073 0 16370 ERIC M SLUSS CHAIR 10.00 X X 0 0 0 ROBERT S BRILL VICE CHAIR 4.00 X X 0 0 0 PAUL S MCAULIFFE TREASURER 4.00 X X 0 0 0 JEN DIGERONIMO RECORDING SE 4.00 X X 0 0 0 SHIMSHON BALANSON DIRECTOR 2.00 X 0 0 0 BENJAMIN M BORNS DIRECTOR 2.00 X 0 0 0 ROBERT J DAGOSTINO DIRECTOR 2.00 X 0 0 0 MARIBETH B FEKE DIRECTOR 2.00 X 0 0 0 BARBARA J HERMES DIRECTOR 2.00 X 0 0 0 JEFFREY W LENNARTZ DIRECTOR 4.00 X 0 0 0 MICHAEL J MOHLENKAMP DIRECTOR 2.00 X 0 0 0 MONICA MOORE DIRECTOR 2.00 X 0 0 0 CHRISTOPHER B OWEN DIRECTOR 2.00 X 0 0 0 MARK PLEUNE DIRECTOR 2.00 X 0 0 0 CONNOR REDMAN DIRECTOR 2.00 X 0 0 0 STEVEN R SARDIGA DIRECTOR 2.00 X 0 0 0 TARI P STAHL DIRECTOR 2.00 X 0 0 0 RICHARD K WEISER DIRECTOR 2.00 X 0 0 0 94073 16370 false false false BIOHABITATS 2018 CLIPPER PARK RD BALTIMORE MD 21211 CONSTR. MGMT 658276 RIVER REACH CONSTRUCTION 92 31ST ST NW BARBERTON OH 44203 CONSTRUCTION 398204 ZIEGLER METZGER LLP 1100 SUPERIOR AVE CLEVELAND OH 44114 LEGAL SERVICES 126428 3 107992 27897 4730925 1099351 321357 5966165 PROJECTS AND PROGRAM INCOME 2206265 2206265 PROPERTY LEASE INCOME 151787 151787 2358052 15565 27897 15565 MISCELLANEOUS 135834 135834 GAIN ON SALE 103623 103623 239457 8563674 2597509 89241 58899 23203 7139 254893 174147 76159 4587 38777 26260 11196 1321 26938 18242 7778 918 9229 6923 2306 12312 1402 10848 62 105198 83695 14896 6607 31190 7090 20900 3200 15841 9196 5409 1236 6354 2417 560 3377 9656 9503 153 15251 6147 9104 LAND ACQ DIRECT COSTS 4397954 4397954 RESTORATION WORK EXP 1728609 1728609 DONATION OF LAND 615000 615000 ASSIGNMENT OF GRANT AWARD 444587 444587 529806 487193 29853 12760 8330836 8077264 212365 41207 1065241 1080013 75451 158249 256817 20370 22256 1528872 1617320 1528872 236 283 2936867 2888241 590421 166459 221495 111493 300000 630000 77500 1189416 907952 X 1393970 1624483 353481 355806 1747451 1980289 2936867 2888241 232838 X false true X true false X 6979310 24733851 5414980 4991058 5966165 48085364 6979310 24733851 5414980 4991058 5966165 48085364 48085364 48085364 6460334 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X 301 1968.66 1 1 1 true 134.00 30621 true 1528870 1528870 2 2 1528872 X 9285719 722045 722045 8563674 8563674 9052881 722045 722045 8330836 8330836 SCHEDULE D, PAGE 1, PART II, LINE 5 IF A LACK OF COMPLIANCE WITH THE TERMS OF A CONSERVATION EASEMENT OR ENVIRONMENTAL COVENANT IS OBSERVED, WEST CREEK CONSERVANCY PROVIDES APPROPRIATE NOTICE OF THE NONCOMPLIANCE TO THE TITLE OWNER OF THE RESTRICTED PROPERTY AND SOLICITS COOPERATIVE ACTION TO RESTORE COMPLIANCE WITH THE OBLIGATIONS SET FORTH IN THE EASEMENT OR COVENANT. IF NECESSARY, THE CONSERVANCY USES ARBITRATION, LITIGATION, OR OTHER APPROPRIATE MEANS TO SECURE COMPLIANCE. SCHEDULE D, PAGE 1, PART II, LINE 9 LAND THAT IS PERMANENTLY RESTRICTED FOR CONSERVATION, EASEMENTS, AND COVENANTS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE ORGANIZATION'S INCEPTION, ARE GENERALLY RECOGNIZED AT A VALUE OF 1 PER PERMANENT PARCEL NUMBER (PPN) ON THE STATEMENTS OF FINANCIAL POSITION (INCLUDING DEVELOPMENT RIGHTS). MANAGEMENT CLASSIFIES THESE ACQUISITIONS AS A "COLLECTION," AS DEFINED IN ASC TOPIC 958, DUE TO ITS INTENT TO HOLD THESE ASSETS IN PERPETUITY FOR CONSERVATION PURPOSES. BECAUSE MANAGEMENT BELIEVES THE VALUE OF THESE PARCELS HAS BEEN IMPAIRED, AS DEFINED IN ASC TOPIC 360, AT ACQUISITION DUE TO THE RESTRICTIVE COVENANTS PLACED ON THESE PARCELS, DIRECT COSTS ASSOCIATED WITH THE ACQUISITION OF LAND, EASEMENTS, OR COVENANTS ARE EXPENSED IN THE YEAR INCURRED. SCHEDULE D, PAGE 3, PART X THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE (THE "CODE") AS A CHARITABLE ORGANIZATION WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 509(A) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE ORGANIZATION CURRENTLY HAS NO UNRELATED BUSINESS INCOME. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED. SPECIAL EVENTS 43462 27897 15565 2247 2400 9972 946 43462 27897 15565 2247 2400 9972 946 15565 X 4 321310 X LAND/EASEMENTS 47 47 1 false true false FORM 990 - ORGANIZATION'S MISSION OUR MISSION IS TO ENRICH THE LIVES OF ALL PEOPLE IN NORTHEAST OHIO BY CONSERVING NATURAL HABITATS, RESTORING THE ECOLOGICAL VALUE OF OUR REGION'S LANDS AND WATERS, AND EXPANDING OPPORTUNITIES TO CONNECT PEOPLE FROM ALL CULTURES TO EXPERIENCE NATURE AND DISCOVER OUR GREAT OUTDOORS. FORM 990, PAGE 1, PART I, LINE 6 VOLUNTEER HOURS DONATED FOR LANDSCAPING, PROPERTY UPKEEP, AND OTHER SERVICES TOTALLED 1,052 IN 2021. FORM 990, PAGE 2, PART III, LINE 4A WEST CREEK CONSERVANCY (FKA WEST CREEK PRESERVATION COMMITTEE) PROTECTS AND RESTORES NATURAL AREAS, OPEN SPACES, STREAM AND WATER RESOURCES THROUGHOUT NORTHEAST OHIO. IN A STRATEGIC WATERSHED RESTORATION APPROACH, WE'RE ACTIVELY RECLAIMING UNSUSTAINABLY DEVELOPED LANDS IN ORDER TO RESTORE THEIR FUNCTIONALITY AND ECOLOGICAL INTEGRITY. MUCH OF OUR WORK INCLUDES REFORESTING DEGRADED AREAS, CREATING OR ENHANCING WETLANDS, AND RESTORING STREAMS AND WATERWAYS. ADDITIONALLY, WE MAKE SIGNIFICANT EFFORTS TO RETROFIT THE 'BUILT' ENVIRONMENT WITH THE INSTALLATION OF APPROPRIATE GREEN INFRASTRUCTURE AND OTHER STORMWATER CONTROL MEASURES, ALL IN AN EFFORT TO IMPROVE AND PROTECT WATER QUALITY - AND INHERENTLY OUR REGION'S DRINKING WATER RESOURCES. CONSERVATION AND RESTORATION ON SUCH A WATERSHED-BASED APPROACH SUBSEQUENTLY CREATES LINEAR GREEN CORRIDORS THAT OFTEN PROVIDE THE GROUNDWORK FOR TRAIL AND GREENWAY NETWORKS, AS WELL AS NATURAL WILDLIFE CORRIDORS. PUZZLING TOGETHER OTHERWISE FRAGMENTED GREENSPACE AND NATURAL CORRIDORS IS AN IMPLICIT WAY TO DIRECTLY CONNECT PEOPLE TO THESE AMAZING PLACES AND SPACES (WHILE ALSO PROVIDING ALTERNATIVES FOR LOCAL TRANSPORTATION). AT WEST CREEK CONSERVANCY, WE BELIEVE THAT CLEAN STREAMS AND RIVERS, ABUNDANT NATURAL AREAS, NEIGHBORHOOD GREENSPACES, AND EQUITABLY ACCESSIBLE WALKING AND BIKING TRAILS ARE AN IMPORTANT PART OF A HEALTHY, THRIVING, AND SUSTAINABLE REGION. PARKS, TRAILS, AND GREENWAYS ARE A CRITICAL FACET OF OUR COMMUNITY'S INFRASTRUCTURE, SIMILAR TO THAT OF WATER AND SEWER; AND AS SUCH, WE SHOULD MAKE EVERY EFFORT TO PROTECT AND RESTORE SUCH ASSETS. WE ARE DEDICATED TO OUR MISSION OF CONSERVATION BECAUSE NORTHEAST OHIO IS OUR HOME, AND THE PLACES WE PROTECT AND RESTORE DIRECTLY IMPACT OUR DRINKING WATER AND THE HEALTH OF LAKE ERIE. WE INVITE YOU TO HELP WEST CREEK CONSERVANCY MAKE NORTHEAST OHIO A GREENER-GREATER PLACE TO LIVE, WORK, AND VISIT. WE ARE PROUD OF THE FACT THAT WE COLLABORATE WITH A VAST ARRAY OF INDIVIDUALS, LANDOWNERS, NON- PROFITS, COMMUNITY GROUPS, MUNICIPALITIES, PARK DISTRICTS, AND BUSINESSES ON MANY DIFFERENT TYPES OF CONSERVATION, RESTORATION, LAND RE-USE, AND RECREATIONAL TRAIL PROJECTS. WE OFFER MANY OPPORTUNITIES TO ENGAGE VOLUNTEERS, AS WELL AS OPPORTUNITIES TO GET OUTSIDE, LEARN ABOUT, AND ENJOY OUR LOCAL GREAT OUTDOORS. THROUGHOUT THE YEAR, WE HOST CLEAN-UPS, PLANTINGS, TOURS, SEASONALLY GUIDED HIKES, AS WELL AS VARIOUS TRAININGS. WHETHER YOU ATTEND A MEETING, OUTING, OR EVENT; MAKE A DONATION; PROTECT YOUR LAND; OR VOLUNTEER YOUR TIME AND ENERGY, YOUR PARTICIPATION AND SUPPORT MAKES A VITAL AND LASTING DIFFERENCE. EQUITABLY ACCESSIBLE PARKS, TRAILS, AND OUTDOOR PUBLIC SPACES ARE MORE IMPORTANT THAN EVER, NOT ONLY FOR PHYSICAL HEALTH AND RECREATION, BUT BECAUSE THEY OFFER A PLACE OF RESPITE, A PLACE TO DISCONNECT FROM THE EVERYDAY AND, AT THE SAME TIME, RECONNECT WITH OUR AMAZING NATURAL WORLD. THESE GREENSPACES AND WATERWAYS ARE LITERALLY THE FABRIC OF OUR INFRASTRUCTURE. WE ARE PROUD TO BE A PART OF THIS EFFORT AND WE RECOGNIZED THAT THROUGHOUT 2020-2021, IT BECAME EVER MORE POINTEDLY IMPORTANT. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS PRESENTED TO FINANCE STAFF, EXECUTIVE DIRECTOR AND FINANCE COMMITTEE TO REVIEW AND IS THEN REVISED AS NEEDED, FOLLOWING WHICH A RECOMMENDATION OF APPROVAL IS MADE TO THE BOARD. THE BOARD THEN HAS FINAL REVIEW OF THE 990 AND APPROVES IT FOR FILING. FORM 990, PAGE 6, PART VI, LINE 12C EACH YEAR, ALL BOARD AND STAFF MEMBERS ARE REQUIRED TO REVIEW AND PLEDGE COMPLIANCE TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. AMONG OTHER THINGS, THE POLICY MAKES IT CLEAR THAT ALL DECISIONS OF THE BOARD MEMBERS AND EMPLOYEES ARE MADE SOLELY ON THE BASIS OF A DESIRE TO PROMOTE THE BEST INTEREST OF THE ORGANIZATION AND THE PUBLIC GOOD. THE CONFLICT OF INTEREST STATEMENT REQUIRES BOARD MEMBERS AND STAFF TO IDENTIFY TO THE BEST OF THEIR KNOWLEDGE AFFILIATIONS WITH ORGANIZATIONS THAT MAY BE POTENTIALLY RELATED TO THE FINANCIAL OR OTHER SUBSTANTIVE OPERATIONS OF THE ORGANIZATION. THEY ARE ALSO ASKED TO IDENTIFY CIRCUMSTANCES INVOLVING EITHER THEMSELVES, OR A MEMBER OF THEIR EXTENDED FAMILY, THAT MAY BE CONSTRUED AS A CONFLICT OF INTEREST. THE ORGANIZATION'S EMPLOYEES ALSO ENSURE THAT THERE ARE NO CONFLICTS OF INTEREST WHEN CONSIDERING THE ENGAGEMENT OF A VENDOR. IF A POTENTIAL OR ACTUAL CONFLICT IS IDENTIFIED, APPROPRIATE STEPS ARE TAKEN TO BOTH ASSESS THE NATURE OF THE CONFLICT AND, SUBSEQUENTLY, TO ENSURE THAT THE ISSUE IS MITIGATED. THE BOARD AND ORGANIZATION TAKES THE APPROPRIATE STEPS TO MANAGE THE MITIGATION OF THE CONFLICT OF INTEREST AND UPHOLDS THE LETTER AND SPIRIT OF THE POLICY. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD ANNUALLY EVALUATES THE PERFORMANCE OF THE EXECUTIVE DIRECTOR. COMPENSATION IS BASED ON PERFORMANCE AND COMPARISON TO OTHER AREA MISSION-COMPARABLE ORGANIZATIONS OF SIMILAR SIZE. THIS COMPENSATION IS A COMPONENT OF THE BUDGET, WHICH IS REVIEWED AND APPROVED BY THE BOARD AS A WHOLE. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S CURRENT GOVERNING DOCUMENTS, FORM 990, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE PUBLIC INSPECTION VERSION OF THE FORM 990 CAN ALSO BE FOUND ON SEVERAL PUBLICALLY ACCESSIBLE WEBSITES. RIVERBED WEST LLC PO BOX 347113 CLEVELAND OH 44134 LAND HOLD OH 710293 124409 N/A RIVERBED 007 LLC PO BOX 347113 CLEVELAND OH 44134 LAND HOLD OH 853 N/A RIVERBED 003 LLC PO BOX 347113 CLEVELAND OH 44134 LAND HOLD OH 274466 N/A RIVERBED 002 LLC PO BOX 347113 CLEVELAND OH 44134 LAND HOLD OH 6528 N/A RIVERBED 001A LLC PO BOX 347113 CLEVELAND OH 44134 LAND HOLD OH 3619 N/A CUYAHOGA RECLAMATION LLC PO BOX 347113 CLEVELAND OH 44134 832699190 LAND HOLD OH 257809 236638 N/A SCHEDULE R THE ENTITIES LISTED ABOVE (EXCEPT FOR CUYAHOGA RECLAMATION LLC) WERE CREATED IN 2017 AS SUBSIDIARIES OF WEST CREEK CONSERVANCY ("WCC") TO HOLD FEE SIMPLE INTEREST IN CERTAIN LANDS LOCATED IN THE FLATS AREA OF CLEVELAND, OHIO. ALL ACTIVITIES OF THESE ENTITIES ARE TRANSACTED BY THE BOARD AND STAFF OF WCC. COST-SHARING FOR SERVICES RENDERED AND THIRD PARTY PASS-THROUGH IS DEFINED IN A MASTER INTERCOMPANY SERVICES AGREEMENT BY AND BETWEEN WCC AND THE SUBSIDIARIES. IN 2018, THE ORGANIZATION CREATED CUYAHOGA RECLAMATION LLC TO HOLD A DONATION OF UNIMPROVED LAND (10 PARCELS) LOCATED IN INDEPENDENCE, OHIO. FAIR MARKET VALUE OF THE LAND ("HAYDITE MINE"), AS PROVIDED FOR IN AN INDEPENDENT APPRAISAL, AMOUNTED TO 21,100,000. THE LAND RECEIVED IS NOT DEED-RESTRICTED AND THE ORGANIZATION'S POLICY IS TO RECORD "LAND - TRADE" AT ITS FAIR MARKET VALUE. HOWEVER, GIVEN THE FACT THAT THE PROPERTY IS ADJACENT TO THE CUYAHOGA VALLEY NATIONAL PARK, IT IS MANAGEMENT'S INTENT TO RESTORE THE LAND TO ITS ORIGINAL STATE IN PERPETUITY. GIVEN THE FACTS AND CIRCUMSTANCES DESCRIBED ABOVE, MANAGEMENT HAS REDUCED THE RECOGNIZED VALUE OF THE LAND TO 1.