2021-09-18T07:10:22-05:00 2020-12-31 341602442 H & J CERTIFIED PUBLIC ACCOUNTANTS INC 7555 FREDLE DR STE 110 CONCORD OH 44077 990 2020-01-01 341859064 WEST CREEK CONSERVANCY WEST 2167493720 PO BOX 347113 CLEVELAND OH 44134 DEREK C SCHAFER EXECUTIVE DIRECTOR 2167493720 2021-08-23 true DEREK SCHAFER XXX-XX-XXXX ROLLAND B STANDISH P00169705 4409512997 2021-08-19 2020 2022-09-23 18:48:47Z X DEREK C SCHAFER PO BOX 347113 CLEVELAND OH 44134 7102514 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. 19 19 6 117 0 5414980 4991058 678498 1765059 109999 -135354 9765 8765 6213242 6629528 0 0 315819 398558 0 15486 5300897 7437796 5616716 7836354 596526 -1206826 3831149 2936867 876872 1189416 2954277 1747451 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 7625312 1765059 WEST CREEK CONSERVANCY (FKA WEST CREEK PRESERVATION COMMITTEE) PROTECTS AND RESTORES NATURAL AREAS, OPEN SPACES, STREAM AND OTHER WATER RESOURCES THROUGHOUT NORTHEAST OHIO. WE'RE ACTIVELY RECLAIMING UNSUSTAINABLY DEVELOPED LANDS, RESTORING THEM TO THEIR NATURAL CONDITION AND FUNCTION. MANY OF OUR INITIATIVES INCLUDE RESTORING STREAMS, CREATING OR ENHANCING WETLANDS AND REFORESTING DEGRADED AREAS. IN MANY CIRCUMSTANCES THESE PROTECTED AREAS LINK TO ONE ANOTHER, CREATING LINEAR CORRIDORS THAT ARE NOT ONLY BENEFICIAL FOR WATER AND WILDLIFE, BUT ALSO FOR PASSIVE RECREATION AND TRAILS. SUCH TRAILS AND GREENWAYS PROVIDE A CRUCIAL LINK BETWEEN PEOPLE AND THE AMAZING NATURAL RESOURCES FOUND IN NORTHEAST OHIO, PROVIDING BENEFITS THAT NOT ONLY CAN BE ENJOYED NOW BUT HAVE GENERATIONAL IMPACT. AT WEST CREEK CONSERVANCY, WE BELIEVE THAT CLEAN STREAMS AND RIVERS, ABUNDANT NATURAL AREAS, NEIGHBORHOOD GREENSPACE, AND EQUITABLY ACCESSIBLE WALKING AND BIKING TRAILS ARE AN IMPORTANT PART OF HEALTHY AND THRIVING COMMUNITIES. PARKS, TRAILS, AND GREENWAYS COMPLEMENT AND BENEFIT THE TRADITIONAL INFRASTRUCTURE OF OUR REGION, AND AS SUCH, SHOULD BE PROTECTED AND RESTORED TO THE HIGHEST EXTENT POSSIBLE. WE ARE DEDICATED TO OUR MISSION OF CONSERVATION BECAUSE NORTHEAST OHIO IS OUR HOME AND LAKE ERIE IS OUR SOURCE OF DRINKING WATER, A SOURCE OF RECREATION, AND A KEY DRIVER OF OUR ECONOMY. WE INVITE YOU TO HELP WEST CREEK CONSERVANCY MAKE NORTHEAST OHIO A GREENER-GREATER PLACE TO LIVE. THE ORGANIZATION COLLABORATES WITH A VAST ARRAY OF INDIVIDUALS, LANDOWNERS, NONPROFITS, COMMUNITY GROUPS, MUNICIPALITIES, AND BUSINESSES ON MANY DIFFERENT TYPES OF CONSERVATION, RESTORATION, LAND REUSE, AND RECREATIONAL TRAIL PROJECTS. WE OFFER MANY OPPORTUNITIES TO ENGAGE VOLUNTEERS, AS WELL AS OPPORTUNITIES TO GET OUTSIDE, LEARN ABOUT, AND ENJOY OUR LOCAL ENVIRONMENT; THROUGHOUT THE YEAR, WE HOST CLEAN-UPS, PLANTINGS, TOURS/WORKSHOPS, 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. IF 2020 TAUGHT US ANYTHING, IT'S THE IMPERATIVENESS OF OUR WORK. WHEN FACED WITH SOCIAL DISTANCING, AND RESTRICTIONS ON INDOOR GATHERINGS, OUR PARKS, TRAILS, AND PUBLIC SPACES QUICKLY BECAME OVERWHELMED. THE DEMAND FOR NATURAL PLACES TO RECREATE, RELAX, OR EXPLORE IS OUT-STRIPPING THE SUPPLY, ESPECIALLY WITHIN OUR URBAN CORE AND HEAVILY DEVELOPED METROPOLITAN AREAS. IT'S CRUCIAL THAT WE CONTINUE OUR WORK TO ENSURE EQUITABLE DISTRIBUTION OF GREENSPACE, PARKS, AND TRAILS THAT ARE ACCESSIBLE AND SAFE FOR ALL PEOPLE. 7625312 true true false false false false true false false false true false false false true true true true false false false false false false true false false false false false false false false false false false false false true false false false true false false false false true 32 0 true 6 true false false false false false false false false false false false false false false X 19 19 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 PO BOX 347113 CLEVELAND OH 44134 DEREK C SCHAFER EXECUTIVE DI 40.00 X 89636 0 12589 JEFFREY W LENNARTZ CHAIR 10.00 X X 0 0 0 RICHARD K WEISER VICE CHAIR 2.00 X X 0 0 0 ERIC M SLUSS TREASURER 2.00 X X 0 0 0 MARIA E CURCIO RECORDING SE 2.00 X X 0 0 0 MICHAEL B BEAN JR DIRECTOR 2.00 X 0 0 0 BENJAMIN BORNS DIRECTOR 2.00 X 0 0 0 ROBERT S BRILL DIRECTOR 2.00 X 0 0 0 ROBERT J DAGOSTINO DIRECTOR 2.00 X 0 0 0 JOHN B DATERS DIRECTOR 2.00 X 0 0 0 JENNIFER F DEGERONIMO 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 PAUL S MCAULIFFE DIRECTOR 2.00 X 0 0 0 MICHAEL J MOHLENKAMP DIRECTOR 2.00 X 0 0 0 CHRISTOPHER B OWEN DIRECTOR 2.00 X 0 0 0 CONNOR REDMAN DIRECTOR 2.00 X 0 0 0 TRACEY L ROCK DIRECTOR 2.00 X 0 0 0 TARI P STAHL DIRECTOR 2.00 X 0 0 0 STEVEN R SARDIGA DIRECTOR 2.00 X 0 0 0 89636 12589 false false false OSBORNE ENGINEERING 1100 SUPERIOR AVE CLEVELAND OH 44114 CONSTR. MGMT. 1739954 RIVER REACH CONSTRUCTION 92 31ST ST NW BARBERTON OH 44203 CONSTRUCTION 463711 BIOHABITATS 2018 CLIPPER PARK RD BALTIMORE MD 21211 CONSTR. MGMT 100399 3 61568 11190 4323061 595239 1073302 4991058 PROJECTS AND PROGRAM INCOME 1465059 1465059 PROPERTY LEASE INCOME 300000 300000 1765059 330856 466210 -135354 -135354 -135354 6776 11190 6776 MISCELLANEOUS 8765 8765 8765 6629528 1773824 -135354 90920 60916 26367 3637 260817 177090 79987 3740 21722 14659 6405 658 25099 17068 7529 502 6860 5145 1372 343 10637 977 9631 29 72815 55787 15956 1072 29681 12376 15721 1584 14335 10023 3703 609 9706 8354 1352 8991 8991 8681 8247 260 174 9053 7339 1714 LAND ACQ DIRECT COSTS 3198576 3198576 LLC PROP ACQ AND RESTORAT 1967451 1967451 LAND/EASEMENT ACQ COSTS 936651 936651 RESTORATION WORK EXP 709524 709524 454835 426138 25559 3138 7836354 7625312 195556 15486 552434 1065241 450000 75451 679014 158249 33060 20370 1617320 2116426 1617320 215 236 3831149 2936867 306480 590421 410392 221495 160000 300000 77500 876872 1189416 X 1766527 1393970 1187750 353481 2954277 1747451 3831149 2936867 X -1206826 X false true X true false X 4267099 6979310 24733851 5414980 4991058 46386298 4267099 6979310 24733851 5414980 4991058 46386298 46386298 46386298 3847260 1.00000 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X 254 1567.64 1 6 1 true 312.00 8476 true 1617318 1617318 2 2 1617320 REFUNDABLE ADVANCE - PPP 77500 77500 X 7275252 971174 -325450 645724 6629528 6629528 8482078 971174 -325450 645724 7836354 7836354 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. SCHEDULE D, PAGE 4, PART XI, LINE 2D EXPENSE ON 990 NOT ON FINANCIALS -325,450 SCHEDULE D, PAGE 4, PART XII, LINE 2D EXPENSE ON 990 NOT ON FINANCIALS -325,450 SPECIAL EVENTS 17966 11190 6776 6776 17966 11190 6776 6776 6776 X 13 1073302 THIRD PARTY APPRAISAL false true false FORM 990, PAGE 1, ITEM B CERTAIN EDITS, INCLUDING A RECENTLY REVISED MISSION STATEMENT, WERE INADVERTENTLY OMITTED FROM THE ORIGINAL FORM 990 AND ARE NOW INCLUDED IN THIS AMENDED FILING. ALL OF THE FINANCIAL INFORMATION INCLUDED IN THIS AMENDED FILING WAS NOT MODIFIED FROM THE ORIGINAL FILING. 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 AMOUNTED TO 1,543 IN 2020. 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 OTHER WATER RESOURCES THROUGHOUT NORTHEAST OHIO. WE'RE ACTIVELY RECLAIMING UNSUSTAINABLY DEVELOPED LANDS, RESTORING THEM TO THEIR NATURAL CONDITION AND FUNCTION. MANY OF OUR INITIATIVES INCLUDE RESTORING STREAMS, CREATING OR ENHANCING WETLANDS AND REFORESTING DEGRADED AREAS. IN MANY CIRCUMSTANCES THESE PROTECTED AREAS LINK TO ONE ANOTHER, CREATING LINEAR CORRIDORS THAT ARE NOT ONLY BENEFICIAL FOR WATER AND WILDLIFE, BUT ALSO FOR PASSIVE RECREATION AND TRAILS. SUCH TRAILS AND GREENWAYS PROVIDE A CRUCIAL LINK BETWEEN PEOPLE AND THE AMAZING NATURAL RESOURCES FOUND IN NORTHEAST OHIO, PROVIDING BENEFITS THAT NOT ONLY CAN BE ENJOYED NOW BUT HAVE GENERATIONAL IMPACT. AT WEST CREEK CONSERVANCY, WE BELIEVE THAT CLEAN STREAMS AND RIVERS, ABUNDANT NATURAL AREAS, NEIGHBORHOOD GREENSPACE, AND EQUITABLY ACCESSIBLE WALKING AND BIKING TRAILS ARE AN IMPORTANT PART OF HEALTHY AND THRIVING COMMUNITIES. PARKS, TRAILS, AND GREENWAYS COMPLEMENT AND BENEFIT THE TRADITIONAL INFRASTRUCTURE OF OUR REGION, AND AS SUCH, SHOULD BE PROTECTED AND RESTORED TO THE HIGHEST EXTENT POSSIBLE. WE ARE DEDICATED TO OUR MISSION OF CONSERVATION BECAUSE NORTHEAST OHIO IS OUR HOME AND LAKE ERIE IS OUR SOURCE OF DRINKING WATER, A SOURCE OF RECREATION, AND A KEY DRIVER OF OUR ECONOMY. WE INVITE YOU TO HELP WEST CREEK CONSERVANCY MAKE NORTHEAST OHIO A GREENER-GREATER PLACE TO LIVE. THE ORGANIZATION COLLABORATES WITH A VAST ARRAY OF INDIVIDUALS, LANDOWNERS, NONPROFITS, COMMUNITY GROUPS, MUNICIPALITIES, AND BUSINESSES ON MANY DIFFERENT TYPES OF CONSERVATION, RESTORATION, LAND REUSE, AND RECREATIONAL TRAIL PROJECTS. WE OFFER MANY OPPORTUNITIES TO ENGAGE VOLUNTEERS, AS WELL AS OPPORTUNITIES TO GET OUTSIDE, LEARN ABOUT, AND ENJOY OUR LOCAL ENVIRONMENT; THROUGHOUT THE YEAR, WE HOST CLEAN-UPS, PLANTINGS, TOURS/WORKSHOPS, 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. IF 2020 TAUGHT US ANYTHING, IT'S THE IMPERATIVENESS OF OUR WORK. WHEN FACED WITH SOCIAL DISTANCING, AND RESTRICTIONS ON INDOOR GATHERINGS, OUR PARKS, TRAILS, AND PUBLIC SPACES QUICKLY BECAME OVERWHELMED. THE DEMAND FOR NATURAL PLACES TO RECREATE, RELAX, OR EXPLORE IS OUT-STRIPPING THE SUPPLY, ESPECIALLY WITHIN OUR URBAN CORE AND HEAVILY DEVELOPED METROPOLITAN AREAS. IT'S CRUCIAL THAT WE CONTINUE OUR WORK TO ENSURE EQUITABLE DISTRIBUTION OF GREENSPACE, PARKS, AND TRAILS THAT ARE ACCESSIBLE AND SAFE FOR ALL PEOPLE. 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 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. SUCH MITIGATION IS MANAGED AND THE LETTER AND SPIRIT OF THE CONFLICTS POLICY ARE UPHELD. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE COMMITTEE 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. FORM 990, PART XI, LINE 9 EXPENSE ON 990 NOT ON FINANCIALS -325,450 EXPENSE ON 990 NOT ON FINANCIALS 325,450 RIVERBED WEST LLC PO BOX 347113 CLEVELAND OH 44134 LAND HOLD OH 1913072 209847 N/A RIVERBED 007 LLC PO BOX 347113 CLEVELAND OH 44134 LAND HOLD OH 1899 353 N/A RIVERBED 003 LLC PO BOX 347113 CLEVELAND OH 44134 LAND HOLD OH 1964 N/A RIVERBED 002 LLC PO BOX 347113 CLEVELAND OH 44134 LAND HOLD OH 6527 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 18958 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.