Vestal Analytics began with a single question: how a taxpayer’s $70 million conservation easement became a $130,000 IRS valuation. The answer led to a research database of more than 225 IRS valuations.
Reduction: a $70 million taxpayer valuation against a $130,000 IRS appraisal
99.5%
Reduction on a second easement
10 more
Additional IRS valuations reviewed, each with reductions exceeding 99%
225+
IRS conservation-easement valuations in the research database today
Our story
How Vestal Analytics began
Vestal Analytics began with a striking valuation disparity: a taxpayer valued a conservation easement at $70 million, while the IRS appraisal placed its value at $130,000—a reduction of approximately 99.8%.
A second easement showed a 99.5% reduction. Review of ten additional IRS valuations revealed a consistent pattern of reductions exceeding 99%. That pattern prompted a broader inquiry into the evidence, qualifications, assumptions, and methods behind the valuations.
Today, Vestal Analytics maintains a proprietary research database of more than 225 IRS conservation-easement valuations spanning land development, geology, solar, and historic preservation. Our analysis examines valuation reductions, technical expertise, inspection practices, supporting documentation, and a host of other data points.
Valuation reductionsTechnical expertiseInspection practicesSupporting documentationQualifications and assumptionsMethods
How we think
A clear factual record first
We believe sound decisions begin with a clear factual record. Data analytics identifies documented trends and tendencies; predictive analysis uses those patterns to guide questions and prioritize further examination. We distinguish observed facts from analytical judgments and do not treat patterns as guarantees of future outcomes.
Our comparative research gives our clients context beyond just a single valuation, thus helping them understand their report, identify areas warranting closer review, and make more informed decisions.
Forty years of process review, applied against the IRS Conservation Easement valuation record.
Bernie Donachie · Founder and Chief Executive Officer
Bernie Donachie is a process-review and comparative-analytics consultant with more than 40 years of experience assessing, redesigning, and improving complex public and private sector processes. He has held Senior executive and Practice leadership roles at IBM, Accenture, Protiviti, GEP, and Portland/Infosys.
IBMAccentureProtivitiGEPPortland/Infosys
His public-sector experience includes work involving the U.S. Departments of the Treasury, Health and Human Services, State, and Energy; State Governments including New York, Texas, Florida, North Carolina, Ohio, and Pennsylvania; and higher-education and other public institutions. His private-sector advisory work has involved organizations including ExxonMobil, Verizon, Google, Coca-Cola, Kellogg’s, DuPont, Bayer, Hershey, Stanford Health, AutoNation, Express Scripts, Jabil, Nationwide Insurance, Rockwell, Rich Products, and Lucent Technologies.
Public-sector experience
U.S. Department of the TreasuryHealth and Human ServicesDepartment of StateDepartment of EnergyNew YorkTexasFloridaNorth CarolinaOhioPennsylvaniaHigher-education and other public institutions
Since October 2025, his work has concentrated on conservation easement transactions and IRS examination, valuation, technical review, Appeals, documentation, and quality-control processes. He has prepared property specific analyses and presented findings directly to IRS Appeals Officers.
His research has supported the Partnership for Conservation and has been used in national reporting for Fox News Digital and by Ashe Short for Just the News. His work has also supported matters presented to IRS Appeals Officers, the Treasury Inspector General for Tax Administration, the IRS Office of Professional Responsibility, the Taxpayer Advocate Service, and the Georgia and Florida Real Estate Appraisers Board.
