SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2015
Open to Public Inspection
Name of the organization
TETON REGIONAL LAND TRUST INC
 
Employer identification number

94-3146525
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year ....    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ....    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ...........
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ............................
Part II
Conservation Easements. Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a 115
b Total acreage restricted by conservation easements .................... 2b 22,071.29
c Number of conservation easements on a certified historic structure included in (a) ..... 2c 1
d Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ... 2d 0
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet2
4
Number of states where property subject to conservation easement is located SchDMd Bullet2
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet2006.00
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet $ 91,487
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2015
Page 2

Schedule D (Form 990) 2015
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ........
Part V
Endowment Funds. Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a)Current year (b)Prior year (c)Two years back (d)Three years back (e)Four years back
1a Beginning of year balance .... 1,939,818 1,880,238 1,618,479 1,452,713 1,607,003
b Contributions ... 33,396 14,268 40,953 25,300 27,486
c Net investment earnings, gains, and losses -25,916 119,560 324,532 207,577 -19,307
d Grants or scholarships ... 1,000 1,000 1,000 1,000 1,000
e Other expenditures for facilities
and programs ... 		70,625 69,850 98,591 67,142 162,469
f Administrative expenses .... 7,140 3,398 5,135    
g End of year balance ...... 1,868,533 1,939,818 1,880,238 1,618,479 1,452,713
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet61.000 %
b
Permanent endowment SchDMd Bullet0 %
c
Temporarily restricted endowment SchDMd Bullet39.000 %
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations .................
3a(i)
 
No
(ii) related organizations .................
3a(ii)
 
No
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land ...   326,279 326,279
b Buildings        
c Leasehold improvements        
d Equipment ...   173,445 125,177 48,268
e Other ...        
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..SchDMdBullet 374,547
Schedule D (Form 990) 2015
Page 3

Schedule D (Form 990) 2015
Page 3
Part VII
Investments—Other Securities. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c)Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
(3)Other
(A) INVESTMENT SECURITIES 		2,024,881 F
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet 2,024,881
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1) PROPERTY HELD FOR SALE 1,379,012
(2) INTEREST IN 9 MADAKET ROAD, LLC 918,750
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet 2,297,762
Part X
Other Liabilities. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet  
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2015
Page 4

Schedule D (Form 990) 2015
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1 2,644,776
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a -81,295
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d ..................... 2e -81,295
3 Subtract line 2e from line 1.................. 3 2,726,071
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b.................... 4c 0
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 2,726,071
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1 1,229,790
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d.................... 2e 0
3 Subtract line 2e from line 1................... 3 1,229,790
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ............ 4b  
c Add lines 4a and 4b..................... 4c 0
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 1,229,790

Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
Part II, Line 3: TRLT TRANSFERRED ONE (1) PERPETUAL CONSERVATION EASEMENT IT ACQUIRED IN 2015 TO THE UNITED STATES OF AMERICA, DEPARTMENT OF THE INTERIOR, BUREAU OF LAND MANAGEMENT (BLM). THE TRANSFER WAS MADE IN ACCORDANCE WITH CONTRACTUAL DUTIES AND RESPONSIBLITIES TO BOTH THE UNITED STATES AND THE LANDOWNER WHO GRANTED THE CONSERVATION EASEMENT. IN THIS CASE, TRLT ACTED TO NEGOTIATE AND ACQUIRE THE CONSERVATION EASEMENT WITH THE EXPRESS EXPECTATION AND CONTRACTUAL OBLIGATION THAT TRLT WOULD IMMEDIATELY ASSIGN THE EASEMENT TO THE BLM, ACTING AS A GOVERNMENTAL UNIT THAT IS QUALIFIED TO HOLD, AND HAS THE NECESSARY COMMITMENT TO ENFORCE, PERPETUAL CONSERVATION EASEMENTS UNDER IRC SEC 170(H)(3) AND APPLICABLE TREASURY REGULATIONS, INCLUDING T.R. SEC 1.170A-14(C)(1). THE BLM ACCEPTED THE TRANSFER AND ASSIGNMENT OF THE CONSERVATION EASEMENT WITH THE COMMITMENT TO HOLD AND ENFORCE THE EASEMENT IN PERPETUITY. TRLT AMENDED ONE (1) PERPETUAL CONSERVATION EASEMENT DURING 2015. This conservation easement protects and preserves, in perpetuity, 347 acres of scenic views, agricultural lands, and habitat for water birds, raptors and fish. The landowner originally reserved the right to construct three (3) residences and associated residential buildings within three (3) separate residential building areas. In 2015, TRLT and the landowners amended and restated the conservation easement to eliminate one reserved residential development right, reducing the number of residential sites on the protected property from 3 to 2. Of the 2 remaining residential building areas, one was reduced in size from 40 acres to 20 acres, and the other was relocated outside of a designated wetland to better serve the conservation purposes of the conservation easement. The number of permitted associated residential buildings within the two remaining residential building areas was also reduced. These changes are consistent with the original purposes of the conservation easement and enhance public benefits because the result is less habitat fragmentation for water birds, raptors and fish, increased scenic value, and additional preservation of soils for agricultural use. TRLT obtained an opinion from a qualified appraiser that confirmed that the restated and ratified easement conferred no private benefits on the landowners or others. The parties also expressly restated and ratified the conservation purposes and all unchanged terms in the original conservation easement. In short, this conservation easement restatement and ratification of deed of conservation easement significantly increased public conservation benefits on the Mithun Six Springs property without conferral of private benefit to the landowner or others.
Part II, Line 5: THE LAND TRUST MONITORS ITS EASEMENT PROPERTIES REGULARLY, AT LEAST ANNUALLY, IN A MANNER APPROPRIATE TO THE SIZE AND RESTRICTIONS OF EACH PROPERTY, AND KEEPS DOCUMENTATION (SUCH AS REPORTS, UPDATED PHOTOGRAPHS ADN MAPS) OF EACH MONITORING ACTIVITY. EASEMENT VIOLATONS ARE DOCUMENTED AND ADDRESSED.
Part II, Line 9: TETON REGIONAL LAND TRUST DOES NOT RECORD EASEMENTS AS INCOME IN THE FINANCIAL STATEMENTS. EXPENSES INCURRED TO FACILITATE EASEMENTS ARE BOOKED AS PROGRAM EXPENSES IN THE FINANCIAL STATEMENTS IN THE YEAR INCURRED. CONSERVATION EASEMENTS THEMSELVES REPRESENT CONTINUING AND ONGOING LIABILITIES FOR TETON REGIONAL LAND TRUST AS A RESULT OF ITS DUTIES AND OBLIGATIONS TO MONITOR, STEWARD, AND ENFORCE ITS CONSERVATION EASEMENTS FOR THE PUBLIC BENEFIT.
Part V, Line 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO FURTHER THE MISSION OF THE TETON REGIONAL LAND TRUST AS STATED ON FORM 990, PAGE 1, PART 1, LINE 1.
Schedule D (Form 990) 2015


Additional Data


Software ID:  
Software Version: