2014-08-07T12:34:13-07:00 2013-12-31 CORLISS & SOLOMON PLLC 242 CHARLOTTE ST STE 1 ASHEVILLE NC 288011434 990 2013-01-01 562142199 The Land Trust for the Little Tennessee LAND 8285242711 PO Box 1148 Franklin NC 287441148 PAUL CARLSON EXECUTIVE DIRECTOR 8285242711 2014-08-07 true STEPHEN C CORLISS 8282360206 2014-08-07 2013 2015-11-30 17:44:51Z PAUL CARLSON PO Box 1148 Franklin NC 287441148 3566657 false X www.ltlt.org X 1999 NC The Land Trust for the Little Tennessee is dedicated to conserving the waters, forests, farms, and heritage of the Upper Little Tennessee and Hiwassee River Valleys. We work in partnership with private landowners, public agencies, and others to conserve land and water, ensuring; continued see note 15 15 17 175 0 752702 1241093 80738 103860 -105624 45979 18308 20154 746124 1411086 0 0 499734 508024 0 77090 333763 459844 833497 967868 -87373 443218 6124270 6443795 255623 48958 5868647 6394837 The Land Trust for the Little Tennessee false false 740692 DURING 2013 LTLT (THE LAND TRUST FOR THE LITTLE TENNESSEE) REORGANIZED ITS PROGRAM WORK, STAFF AND BUDGET UNDER THE THREE PILLARS OF "CONSERVE", "RESTORE", AND "CONNECT". UNDER ITS "CONSERVE" PROGRAM LTLT COMPLETED SEVEN LAND PROTECTION PROJECTS ENCOMPASSING 1631 ACRES. THOSE PROJECTS INCLUDED THE PURCHASE OF A HALF MILE OF LITTLE TENNESSEE RIVER FRONTAGE FOR EVENTUAL ADDITION TO THE NC NEEDMORE GAMELANDS AS WELL AS THE PURCHASE OF A NATIONAL REGISTER HISTORIC SITE IN THE NEARBY COWEE-WEST'S MILL HISTORIC DISTRICT. OTHER COMPLETED PROJECTS INCLUDED THE PROTECTION VIA CONSERVATION EASEMENTS ALONG THE APPALACHIAN TRAIL, ON THE NANTAHALA RIVER, AND LANDS BUFFERING SEVEN MILES OF NATIONAL FOREST BOUNDARY. LTLT ALSO CONDUCTED ON-SITE MONITORING OF 58 CONSERVATION EASEMENTS PROTECTING 7255 ACRES. UNDER ITS "RESTORE" PROGRAM LTLT RESTORED OVER 2800 FEET OF DEGRADED STREAMBANKS ON WATAUGA CREEK AND LAKEY CREEK; BOTH TRIBUTARIES TO THE LITTLE TENNESSEE RIVER. FINALLY UNDER ITS "CONNECT" PROGRAM WORK LTLT COMPLETED THE 24TH ANNUAL MONITORING OF AQUATIC HEALTH OF THE LITTLE TENNESSEE WATERSHED, AND IT HELD 13 MONITORING AND EDUCATION EVENTS ENGAGING 1152 PEOPLE. 740692 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 false false false false false false false false true 19 0 true 17 true 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 X X X RAMELLE SMITH 8285242711 557 E Main St Franklin NC 28744 KENYON MURPHY Chair 4.00 X X 0 0 0 CHRISTOPHER BROUWER Vice Chair 3.00 X X 0 0 0 ED HAIGHT Treasurer (June-Dec) 3.00 X X 0 0 0 RACHEL HOSKINS Secretary 2.50 X X 0 0 0 MICHAEL GREEN Former Treasurer (Jan-May) 1.00 X X 0 0 0 BILL DYAR Board Member 2.50 X 0 0 0 LISA LEATHERMAN Board Member 2.00 X 0 0 0 BILL GIBSON Board Member 1.00 X 0 0 0 DICK HEYWOOD Board Member 2.00 X 0 0 0 JASON LOVE Board Member 2.00 X 0 0 0 LYDIA SARGENT MACAULEY Board Member 2.00 X 0 0 0 NATALIE SMITH Board Member 2.00 X 0 0 0 RICHARD B CLARK Board Member 2.00 X 0 0 0 ELIZABETH JOHNS Board Member 2.00 X 0 0 0 JOHN STRAWN Board Member 2 X CONNIE HAIRE Board Member 2 X PAUL CARLSON Executive Director 40 X 61692 6419 61692 6419 false false false 99228 1141865 170800 1241093 Stewardship Contracts 541900 36292 Conservation Project Administration 541900 67568 103860 15780 15780 10709 10709 10709 10709 2185770 2155571 30199 30199 30199 405 405 405 413 413 413 Miscellaneous 900099 8627 8627 8627 1411086 134059 35934 68736 20621 20621 27494 359015 275229 60878 22908 18332 14276 3047 1009 28435 20902 5072 2461 33506 23374 6328 3804 13725 0 13725 0 83699 70800 7077 5822 450 0 450 0 30840 14221 11305 5314 7989 5026 2223 740 22242 14891 4953 2398 15171 14101 555 515 5670 1950 3593 127 2657 2657 0 0 6896 4811 1302 783 18197 12694 3437 2066 Land and Easement Acq. Costs 96476 96476 0 0 Project Management 31749 31749 0 0 Supplies/Materials/Publications 18652 14360 3281 1011 Watauga Creek Restoration 80640 80640 0 0 24791 21914 2239 638 967868 740692 150086 77090 47328 564168 1328858 145567 116615 530 946 1000000 9940 38885 3049613 30500 4647922 3019113 756143 892050 6124270 6443795 13696 25547 229900 12027 23411 255623 48958 X 5283570 5547460 131288 393588 453789 453789 5868647 6394837 6124270 6443795 X 443218 82972 X X false true X true false X 1019525 1039232 1994264 752702 1241093 6046816 1019525 1039232 1994264 752702 1241093 6046816 1376023 4670793 27649 26294 18294 15907 15780 103924 5784 15062 31281 7335 8627 68089 6218829 0.75110 0.70430 X 0 0 0 Pt II Line 10 Description: Other Revenue Pt II Line 10 2009: 5784. Pt II Line 10 2010: 15062. Pt II Line 10 2011: 31281. Pt II Line 10 2012: 7335. Pt II Line 10 2013: 8627. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 45 5702.9 0 1 2 true 422 11143 true 577407 47660 95931 4834 716164 521282 14663 58188 12500 4226 577407 536169 16814 -13241 14443 4017 521282 467869 47002 56428 31410 3720 536169 268036 186556 65691 50000 2414 467869 0.29980 0.70020 true false 2752497 2752497 254539 254539 3305 661 2644 39272 29839 9433 3019113 Options and Escrow Deposits 5000 Endowment held by Community Foundation of WNC 716164 Land Assets Subject to Life Estate, Net of Discount to PV 168486 Security Deposit 1850 Gift Cards 550 892050 Fiscal Agent Funds Payable 23411 23411 X 1494058 82972 82972 1411086 1411086 967868 967868 967868 Pt II Line 3 One conservation easement was modified during 2013. Pt II Line 5 CEs are monitored by LTLT's conservation easement monitoring staff at least annually with a report to LTLT and the landowner. Violations, monitoring and enforcement are covered in LTLT'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.) Pt X Line 2 LTLT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. UNDER THE CODE, INCOME FROM CERTAIN ACTIVITIES NOT RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE ORGANIZATION HAD LESS THAN $1,000 OF INCOME FROM UNRELATED BUSINESS ACTIVITIES IN THE 2013 FISCAL YEAR AND WAS, THEREFORE, NOT REQUIRED TO FILE FEDERAL FORM 990-T (EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN). THE ORGANIZATION BELIEVES THAT IT HAS A X 2 170800 Appraisal Value false true false Pt VI, Line 11b The 990 is initially reviewed by the Finance Manager and the Executive Director. It is Pt VI, Line 11b then passed on to the Finance Committee for review and approval. Finally the Pt VI, Line 11b 990 is sent to the full Board prior to filing. Pt VI, Line 12c Conflict of Interest policy was adopted on 8/8/08. All officers and Pt VI, Line 12c employees complete a conflict of interest statement at the first board meeting Pt VI, Line 12c of the new year and the statement is reviewed by the CAO. In addition, the ED Pt VI, Line 12c monitors the business of the organization that could involve Board members or staff. Pt VI, Line 15a Currently, the ED makes well below the highly compensated threshold. Pt VI, Line 15a In March 2010, compensation data was gathered for land trust job types. The Pt VI, Line 15a Compensation Committee continues to use this data as a guide to determine Pt VI, Line 15a salaries. Pt VI, Line 18 Forms 1023 and 990 are available upon request. Form 990 is Pt VI, Line 18 also available on the organization's website. Pt VI, Line 19 Governing documents, conflict of interest policy and audited financial Pt VI, Line 19 statements are available upon request. Pt XI Net investment gains on Endowment held with the Pt XI Community Foundation of Western NC amounted to 82,972. Pt XII, Line 2c The Audit Committee directly reviews the audit. Part VI, Line 17 The organization maintains a charitable solicitation license with the NC Secretary of State, Part VI, Line 17 Charitable Solicitation License Division. As part of its annual renewal process, Part VI, Line 17 the organization may include the Federal Form 990 filed with IRS. Sch D, Ln 3 & 5 Since U.S. GAAP does not provide specific guidance on the accounting Sch D, Ln 3 & 5 treatment for conservation easements, land trust organizations in the Sch D, Ln 3 & 5 U.S. use several different methods to account for the easements they hold. Sch D, Ln 3 & 5 LTLT has adopted one such method which is widely used by other land trusts. Sch D, Ln 3 & 5 Under this method, conservation easements are not recognized as assets. Form 990, Part IX, Line 24f PROGRAM EVENT EXPENSE 951. 188. 125. 638. DUES/SUBSCRIPTIONS 3352. 1954. 1398. 0. MISCELLANEOUS 4665. 3949. 716. 0. FIELD EQUIPMENT 708. 708. 0. 0. STEWARDSHIP CONTRACTS 15115. 15115. 0. 0. Sch D, Ln 3 & 5 Accordingly, easements received by donation are not recorded in income Sch D, Ln 3 & 5 and easements purchased by the organization are recorded as expenses. Sch D, Ln 3 & 5 Management believes that this method results in financial statements Sch D, Ln 3 & 5 that most accurately reflect the organization's financial activities.