The Internal Revenue Service requires that Aspetuck Land Trust be able to demonstrate that its conservation activities and acquisitions result in a genuine public benefit. In addition, the Trust must be certain that it can fulfill the stewardship responsibilities associated with its land protection activities and public service obligations. Our Board of Directors has adopted the following criteria for evaluating prospective conservation projects. Although each project is evaluated on its own merits, it is important that the project result in a significant public benefit.
Factors that contribute to establishing a significant public benefit are:
- Preservation of land areas for outdoor recreation by, or the education of, the general public.
- Preservation of open space (including farmland and forest land) where such preservation is for the scenic enjoyment of the general public and will yield a significant public benefit
- Preservation of a historically important land area or a certified historic structure.
- Expansion of an existing preserve or provide connectivity between preserves.
- Provide access to streams, lakes and the Long Island Sound.
- Allow the Aspetuck Land Trust to provide some added conservation value.
Land donation may provide substantial income tax deductions and estate tax benefits. Although ALT focuses on preserving open space, commerical or residential property might also be donated, with the understanding that the property would be sold to support future conservation efforts.
Please consult your attorney or tax advisor regarding major contributions.