Appalachian Mountain Club

According to the Appalachian Mountain Club (AMC) consolidated audit of December 31, 2023 (Note L, Commitments, Advanced Deposit on Future Land Purchase):

"In September 2023, the AMC partnered with The Conservation Fund ('TCF'), a nationally recognized nonprofit, to acquire and permanently protect the approximately 29,000-acre Barnard Forest in Maine's 100-Mile Wilderness. The AMC acquired the North parcel, approximately 13,891 acres of the forestland and TCF acquired the South parcel, approximately 14,892 acres. The total purchase price of the South parcel was $10 million. As part of a purchase and sale agreement between the AMC and TCF, executed in August 2023, the AMC made an advance payment of $4 million towards the purchase, and will purchase the South parcel outright from TCF on or before December 31, 2027...During the holding period prior to the AMC's purchase, TCF owns the South parcel property. The AMC's purchase price will be $10 million, reduced by the amount paid to the seller, if any, for the conveyance of a working forest conservation easement on the property...

...As part of the transaction, the AMC entered into an 'Assignment of Carbon Development and Marketing Agreement' with the previous owner of the Barnard Forest in which the carbon credits associated with the North parcel were assigned to the AMC in exchange for an advance of $1,085,000. The carbon credits will be sold by the AMC at a future date when it is advantageous to do so and at the time of the sale, the AMC will be entitled to the funds received...