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3. As a nan-profit corporatian with an independent board of directors, <br />The Fund may have less direct accountability tv the federal and state <br />parties. <br />B. Establishing a New Nanprofit Entity <br />1. Create a New Non-Pro#it Corporation or Land Trust <br />A new non-profit entity could be established as the Land interest Holding <br />Entity. Such an organization would be established under Nebraska law and <br />incorporated as a federal, tax-exempt entity for the purpase of implementing <br />the land protection agenda af the Program. The non-profit corporation <br />would contract with the Governance Cammittee to perforrn the specific land <br />ownership negotiation and holding tasks. There are many models of <br />nanprafit land trusts operating thraughout the mid-west and west which <br />perform the real estate functions anticipated for the land entity. The <br />Colorado Cattlemen's Agricultural Land Trust is an example of an entity <br />which provides land canservation services to traditional agriculturaI <br />landowners in a user friendly fashion. The experience of these groups as well <br />as that of the Land Trusf Alliance (LTA), the national association which <br />represents aver 1,200 land conservation organizations, could be harnessed to <br />create a new nonprofit tailored to the purposes af the land entitv. <br />Advantages <br />l. Establishes a new non-prafit, public purpase entity specifically targeted <br />to performing the functions of the land entity. <br />2. Can be structured to involve tederal and state representatives on the <br />Board as well as other stakeholders if desired. <br />3. Has the ability to partner with many other groups and organizations, <br />draw upon the experience of many successful land trusts and can raise <br />funds from charitable, public and foundation contributions to <br />supplement government funds. <br />4. IVTo history or preconceived notions to overcome. <br />DisaclvuMtages <br />1. A non-profit with broad responsibilities would Iikely require federal <br />authorizing legislation. <br />2. Creates a new nanprofit where there are already several and which has <br />no operatianal history, governance structure or staff. It's capabilities <br />may overlap with a nurnber of the existing non-profits. <br />3. As an independent non-profit corporation it has less direct <br />accountability to the federal and state parties. <br />Cnnservation Partners, Inc. P. 9