2024-10-23T08:54:02-07:00 2023-12-31 202571677 CORLISS & SOLOMON PLLC 242 CHARLOTTE ST SUITE 1 ASHEVILLE NC 28801 990 2023-01-01 562142199 Mainspring Conservation Trust Inc MAIN 8285242711 PO Box 1148 Franklin NC 287441148 Jordan M Smith Executive Director 8285242711 2024-10-22 true true Todd Oldenburg P02281691 8282360206 2024-10-23 2023 2024-10-15 13:58:12Z Jordan M Smith PO Box 1148 Franklin NC 287441148 3572003 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. 18 18 18 180 4866 542 5178744 3098664 33216 26690 -38809 166817 18762 18389 5191913 3310560 0 0 720548 770627 0 80739 3306329 1575684 4026877 2346311 1165036 964249 16322410 18367629 483237 1423067 15839173 16944562 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 1988228 0 26690 LAND In 2023, Mainspring completed nine land transactions, protecting 430 acres in Western North Carolina. -Two sales to the Wildlife Resources Commission within the Needmore Game Lands. -One fee simple donation of property received. -One sale of conserved land to a conservation-minded family new to Western North Carolina. -One CE acquisition with NCDA grant funds -One CE sale to the State of NC with a grant from the NC Land and Water Fund. -Three fee simple land acquisitions. Mainspring continued to monitor 93 conservation easements totaling 14,296 acres and 19 fee simple properties totaling 1,030 acres. Volunteers contributed more than 900 hours to help improve the landscape through habitat management and recreational improvements. WATER As part of Mainsprings restoration program, Mainspring began construction on a large wetland-complex project. Furthermore, six additional sites have been identified for potential restoration and a feasibility study has commenced. 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 60 events around water targeted to either youth education, citizen science, or community engagement. 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. 1988228 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 true false false false false false true 10 0 true 18 true true true false false false false false false false false 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 NC GA FL X X X Jordan M Smith 8285242711 557 E Main St Franklin NC 28734 Jordan Smith Executive Director 40.00 X 89080 0 9675 David Adams Chair 3.00 X X 0 0 0 James Stork Vice Chair 3.00 X X 0 0 0 Hope Huskey Secretary 2.00 X X 0 0 0 Jim Garner Treasurer 2.00 X X 0 0 0 Chris Brouwer Board Member 3.00 X 0 0 0 Amanda Clapp Board Member 2.00 X 0 0 0 Barry Clinton Board Member 2.00 X 0 0 0 Fred Crawford Board Member 2.00 X 0 0 0 Anita Finger-Smith 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 Terrie Kelly Board Member 2.00 X 0 0 0 Lisa Leatherman Board Member 2.00 X 0 0 0 Jason P Love Board Member 3.00 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 89080 0 9675 false false false 669802 2428862 573640 3098664 Stewardship Contracts 541990 11397 0 0 Program Services 541990 15293 0 0 26690 85073 0 85073 20737 8134 12603 12603 7737 4866 335053 253309 81744 81744 0 0 81744 Miscellaneous 900099 5786 0 0 5786 5786 3310560 34427 4866 172603 102355 72160 18619 11576 553571 407298 103260 43013 26904 21129 3626 2149 38266 26217 8746 3303 49531 34974 10452 4105 180375 180375 0 0 19190 0 19190 0 1691 0 1691 0 420687 372157 45410 3120 2283 333 1950 0 26708 10763 8891 7054 3423 0 3423 0 13101 6265 6836 0 34003 26391 7293 319 12947 4563 7828 556 10596 6856 3740 0 61902 49274 12628 0 39553 31683 5780 2090 Land Valuation Changes 259323 259323 0 0 Easement and Land Purchase Expenses 387062 387062 0 0 Property Tax-Lands 14951 14005 946 0 Supplies and Materials 31329 29434 39 1856 56560 47966 6996 1598 2346311 1988228 277344 80739 86383 36128 1366713 2230601 77420 207964 22898 32925 13443416 242288 12543956 13201128 401950 663887 75347 75260 1747743 1919736 16322410 18367629 55024 86807 159753 1020107 244732 145975 142000 23728 28178 483237 1423067 X 14527982 15498344 1311191 1446218 15839173 16944562 16322410 18367629 964249 141140 X X false true X true false X 0 5066647 2218607 7952452 5178744 3098664 23515114 0 0 5066647 2218607 7952452 5178744 3098664 23515114 708593 22806521 83001 62101 62069 50489 105810 363470 0 11271 4463 15705 100 5786 37325 23915909 207843 0.95360 0.94320 X 0 0 0 Pt II Ln 10 Other Income Part II, Line 10 Description: Other Revenue 2019: 11271. 2020: 4463. 2021: 15705. 2022: 100. 2023: 5786. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 72 8197.00 0 2 true 892.00 32238 true 1245100 18859 163399 22575 1691 1403092 1463733 33114 -219102 30828 1817 1245100 1296302 37175 169645 27337 12052 1463733 1069446 115473 154262 32720 10159 1296302 919781 12008 180012 34575 7780 1069446 0.29990 0.70010 true false 80000 11986919 12066919 551476 47825 503651 42568 10447 32121 57604 37506 20098 724849 146510 578339 13201128 Options and Escrow Deposits 7500 Endowment held by Community Foundation of WNC 1403092 Conservation Land Subject to Life Estate, Net 507994 Security Deposit 1150 1919736 Fiscal Agent Funds Payable 28178 28178 X 2840048 141140 10134 151274 2688774 1691 620095 621786 3310560 2093431 8134 8134 2085297 1691 259323 261014 2346311 Pt II, Line 5 CEs are monitored by Mainsprings conservation easement monitoring staff at least annually with a report to Mainsprings files and the landowner. The handling of violations, monitoring and enforcement are covered in Mainsprings Stewardship Policy Manual. Pt II, Line 9 Conservation easements purchased are expensed at cost. Conservation easements received by donation are not recorded in the organizations books.(See Schedule O for further information.) Pt V, Line 4 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 organizations tax-exempt purpose may be subject to taxation as unrelated business income. Mainspring had income from unrelated business activities in the 2023 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 2d Rental Expenses $8,134 Pt XI, Line 4b Life Estate Contributions $22,001; Land Contributions $514,350. Pt XII, Line 2d Rental Expenses $8,134 Pt XII, Line 4b Easement Devaluation $259,323 X 6 37289 Sales Price 0 X 2 536351 Appraisal false true false Pt I Line 30b Mainspring does not carry conservation easements as assets on its 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. A draft is emailed to the board and presented at the Finance and the Board Meeting. The final is also shared once it is filed. 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 Mainsprings 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 MCTs 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 organizations financial activities. Form 990, Part IX, Line 11g Contract Labor 188386. 171261. 17125. 0. Form 990, Part IX, Line 11g Professional Fees - Land Steward & Annual Report 29613. 26493. 0. 3120. Form 990, Part IX, Line 11g Professional Fees - Strategic Planning 23000. 0. 23000. 0. Form 990, Part IX, Line 11g Professional Fees - Other 39229. 33944. 5285. 0. Form 990, Part IX, Line 11g Project Management Pass-Thru Expense 140459. 140459. 0. 0. Ela Dam Project 557 E Main St Franklin NC 28734 River restoration 234720 61295 Mainspring Conservation Trust Inc