2023-05-11T08:38:53-05:00 2022-06-30 020327524 NATHAN WECHSLER & COMPANY PA 70 COMMERCIAL STREET CONCORD NH 03301 990 2021-07-01 030264836 VERMONT LAND TRUST INC VERM 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 LYNN ELLEN SCHIMOLER VICE PRESIDENT FOR OPERATIONS 8022235234 2023-05-10 1 LYNN ELLEN SCHIMOLER 999009999 ORESTE J MOSCA P00366101 6034482650 2023-05-10 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z LYNN ELLEN SCHIMOLER 8 BAILEY AVENUE MONTPELIER VT 05602 32604033 0 X VLT.ORG X 1977 VT TO CONSERVE LAND FOR THE FUTURE OF VERMONT. 16 15 52 13 0 0 14984142 24891523 986812 925862 605696 1510226 126391 164567 16703041 27492178 192193 333359 0 0 3881175 4203115 0 15900 457729 10507508 15288431 14580876 19840805 2122165 7651373 53999994 52514440 12029376 6735761 41970618 45778679 X ROOTED IN VERMONT SINCE 1977, THE VERMONT LAND TRUST UNITES LAND AND LIVES FOR THE ENDURING BENEFIT OF PEOPLE AND THE PLACE WE SHARE. WE HELP PEOPLE PROTECT, CARE FOR, AND CONNECT TO LAND. THIS INCLUDES THE FARMS, FORESTS, NATURAL AREAS, AND COMMUNITY SPACES THAT DEFINE US. 0 0 12181131 333359 1491471 LAND PROTECTIONIN PARTNERSHIP WITH LANDOWNERS AND COMMUNITIES, WE CONSERVE LAND AND ENSURE ITS CONTINUED PROTECTION. OVER THE PAST FORTY-FIVE YEARS WE HAVE PROTECTED OVER 620,000 ACRES, OR 11% OF THE STATE. THIS INCLUDES OVER A THOUSAND WORKING FARMS, 440,000 ACRES OF PRODUCTIVE FORESTLAND, AND 1,400 MILES OF STREAMS. OUR WORK SUPPORTS RURAL LIVELIHOODS AND LOCAL ECONOMIES, THE HEALTH AND WELLBEING OF VERMONTERS AND VISITORS, AND HUNDREDS OF PLANT AND ANIMAL SPECIES THAT CALL VERMONT HOME. WE ENSURE THE ONGOING PROTECTION OF THIS LAND IN PARTNERSHIP WITH OVER 2,000 LANDOWNERS. THROUGH REGULAR EDUCATION AND MONITORING, WE UPHOLD THE CONSERVATION EASEMENTS THAT RESTRICT DEVELOPMENT AND WORK WITH LANDOWNERS TO IMPROVE THE HEALTH AND VIABILITY OF THEIR LANDS. 4048954 5033 INVESTING IN PLACETO STRENGTHEN CONNECTIONS BETWEEN PEOPLE AND LAND, CATALYZE FARM AND FOREST BUSINESSES, AND BROADEN LAND ACCESS, WE OWN LAND FOR SHORT OR LONG PERIODS OF TIME. TODAY, WE OWN FOUR FLAGSHIP PROPERTIES AND A HANDFUL OF OTHER PROPERTIES THAT BRING PEOPLE ON TO LAND. THESE PLACES SUPPORT COMMUNITY GARDENS, MULTI-USE TRAILS, AGRICULTURAL ENTERPRISES, FORESTRY DEMONSTRATION PROJECTS, AND EDUCATIONAL OPPORTUNITIES. PROGRAMMING ON THESE LANDS IS DONE IN CLOSE COLLABORATION WITH LOCAL SCHOOLS, BUSINESSES, AND VOLUNTEERS. ADDITIONALLY, TO ADVANCE AFFORDABLE ACCESS TO FARMLAND, WE SOMETIMES BUY AND TRANSFER FARMLAND USING CONSERVATION AS A TOOL TO MAKE LAND MORE AFFORDABLE FOR THE NEXT GENERATION OF FARMERS. USING THIS APPROACH, WE HAVE HELPED OVER 100 FARMERS BUY LAND AND GROW THEIR BUSINESSES. 417807 263987 THE BREWSTER UPLANDS CONSERVATION TRUST IS AN ENTITY THAT SUPPORTS THE MANAGEMENT OF 1,000+ ACRES FOR PUBLIC ACCESS, FARMING AND EDUCATIONAL PURPOSES. 28524 0 ATLAS TIMBERLAND PROJECTTHE ATLAS TIMBERLANDS PROJECT IS A JOINT UNDERTAKING OF THE VERMONT LAND TRUST AND THE NATURE CONSERVANCY. TOGETHER, THE TWO ORGANIZATIONS OWN AND MANAGE APPROXIMATELY 12,000 ACRES OF TIMBERLAND IN THE NORTHERN GREEN MOUNTAINS. THE MANAGEMENT OF THIS LAND PROVIDES DIRECT EXPERIENCE WITH THE CHALLENGES OF OWNING AND MANAGING TIMBERLAND FOR ECONOMIC AND BIODIVERSITY VALUES. THIS EXPERIENCE HAS A DIRECT IMPACT ON OUR ABILITY TO UNDERSTAND AND ADDRESS CONCERNS OF OWNERS OF CONSERVED TIMBERLAND. ALL OF THE LAND IS OPEN TO THE PUBLIC FOR HIKING, HUNTING, AND OTHER NON-MOTORIZED RECREATION. 662099 656842 VERMONT FOREST CARBONVERMONT FOREST CARBON IS A PILOT PROJECT TO AGGREGATE SMALL, SEPERATELY OWNED, INDIVIDUAL PARCELS OF FOREST LAND FOR CARBON STORAGE SEQUESTRATION TO PROVIDE A BROADER SET OF LANDOWNERS ACCESS TO CARBON MARKETS. 690623 656842 17338515 1 1 0 1 0 0 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 161 0 1 52 1 0 0 0 0 0 0 1 1 0 0 0 0 0 X 16 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VT MA CT PA VA NH FL NY CA NJ MD X X X DAVID MORRISSEY DIRECTOR OF FINANCE 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 CHERYL MORSE BOARD CHAIR (INCOMING) 2.00 X X 0 0 0 MARK MIHALY BOARD CHAIR (OUTGOING) 2.00 X X 0 0 0 JESSICA ESTES BOARD SECRETARY (INCOMING) 40.00 X X 0 0 0 RASNA DHILLON BOARD SECRETARY (OUTGOING) 40.00 X X 76518 0 1602 HEIDI CHAMBERLAIN FORMER TREASURER 2.00 X X 1200 0 0 RAMSEY LUHR TREASURER 2.00 X X 0 0 0 JESS PHELPS TRUSTEE 1.00 X 0 0 0 JEAN HAMILTON TRUSTEE 1.00 X 0 0 0 HANNAH SESSIONS TRUSTEE 1.00 X 0 0 0 SUSAN GOODFELLOW TRUSTEE (OUTGOING) 1.00 X 0 0 0 MERIWETHER HARDIE TRUSTEE 1.00 X 0 0 0 MIKE DONOHUE TRUSTEE 1.00 X 0 0 0 MARIA YOUNG TRUSTEE 1.00 X 0 0 0 PIETER BOHEN TRUSTEE 1.00 X 0 0 0 DAVID MIDDLETON TRUSTEE 1.00 X 0 0 0 WILLIAM KEETON TRUSTEE 1.00 X 0 0 0 KATHERINE SIMS TRUSTEE 1.00 X 1200 0 0 JOHN LAGGIS TRUSTEE 1.00 X 0 0 0 LYNN ELLEN SCHIMOLER TRUSTEE (OUTGOING) 1.00 X 1200 0 0 CHARLIE HANCOCK VICE CHAIR 2.00 X X 0 0 0 ALLISON DUDLEY FORMER CHIEF FINANCIAL OFFICER 40.00 X 106987 0 2367 SIOBHAN SMITH EXECUTIVE VP 40.00 X 132378 0 19798 NICK RICHARDSON PRESIDENT AND CEO 40.00 X 153822 0 3948 ABBY WHITE VP FOR ENGAGEMENT 40.00 X 114877 0 2780 TYLER MILLER VP FOR LAND ACTIVATION 40.00 X 92158 0 25499 TRACY ZSCHAU VP FOR LAND PROTECTION 40.00 X 103085 0 14571 783425 0 70565 5 0 1 0 RUTHLESS & WELLINGTON 23 PINE PL BURLINGTON VT 05401 STRATEGIC CREATIVE SERVICES 102500 1 14106499 10785024 624718 24891523 VT FOREST CARBON INCOME 110000 656842 656842 LAND AND TIMBER INCOME 110000 269020 269020 925862 108032 108032 148667 0 148667 148667 148667 691029 5823020 764406 4347449 -73377 1475571 1402194 1475571 -73377 ADMIN INCOME 561000 15900 15900 15900 27492178 2417333 0 183322 X 319409 319409 13950 13950 780362 335870 316393 128099 2348576 1814467 385552 148557 61892 46828 11523 3541 735707 539794 146796 49117 276578 192787 60595 23196 72678 72678 63552 25412 37065 1075 15900 15900 60630 28180 25708 6742 520930 211884 309046 136778 63572 57996 15210 179131 82331 76419 20381 385747 169290 206500 9957 62749 50947 9058 2744 7135 3317 3025 793 110604 39736 70868 192778 71520 121258 108439 25284 83155 DEVELOPMENT RIGHTS 11409875 11409875 0 0 PROJECT FEASIBILITY 567236 567236 0 0 CARBON OFFSET 505719 505719 0 0 OTHER OPERATING EXPENSE 215079 99964 91197 23918 689371 648465 32407 8499 19840805 17338515 2044561 457729 2056190 5828846 2658292 7981210 635082 429350 72283 69087 686787 360445 151664 47631 67656 16197671 2503483 19213631 13694188 8302294 5996040 241376 765333 1147041 993833 18939387 16176788 53999994 52514440 302842 422435 10076702 5031014 1649832 1282312 12029376 6735761 X 11342054 16285900 30628564 29492779 41970618 45778679 53999994 52514440 X 7651373 -1810280 -2033032 X X 0 1 X 1 1 1 X 11180739 16992599 11770142 14984142 24891523 79819145 11180739 16992599 11770142 14984142 24891523 79819145 2143174 77675971 443794 396256 185810 427268 108032 1561160 81380305 15065114 0.95450 0.92960 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45811 45811 19794994 19840805 1000000 250000 0 0 1000000 855358 879044 1000000 3734402 5601603 39899 19300 8980 45811 113990 250000 213840 219761 250000 933601 1400402 X X X 2367 518668.00 1 5 1 1 19979.00 989462 1 24636057 3139806 -3228704 2248784 232017 22066358 20432221 731728 4812443 1099684 240651 24636057 20328476 191000 691717 661125 117847 20432221 19661757 2296494 1091985 2536408 185352 20328476 19515143 1803446 1715187 3182981 189038 19661757 0.15983 0.72581 0.11436 1 0 8759739 8759739 5168468 1668339 3500129 708789 638286 70503 1560675 196858 1363817 13694188 CHARITABLE REMAINDER TRUSTS 1867310 BENEFICIAL INTEREST IN NET ASSETS HELD BY VERMONT COMMUNITY FOUNDATION 14291289 DEPOSITS 18189 16176788 DEFERRED CHARITABLE ANNUITIES 1279369 DEFERRED OPTION PAYMENTS 2943 1282312 X 27996315 -1810280 2314417 504137 27492178 0 27492178 24188254 4347449 4347449 19840805 0 19840805 PART II, LINE 3: AMENDMENT: DWYER GREENSBORO & WHEELOCK: THIS CORRECTIVE AMENDMENT FIXED AN ERROR IN THE PROPERTY LEGAL DESCRIPTION CONTAINED IN THE SCHEDULE A OF THE GRANT OF DEVELOPMENT RIGHTS AND CONSERVATION RESTRICTIONS AND PUBLIC ACCESS EASEMENT WHICH ERRONEOUSLY INCLUDED A PARCEL OF LAND THAT WAS NOT INTENDED TO BE CONSERVED AND ERRONEOUSLY OMITTED A PARCEL OF LAND THAT WAS INTENDED TO BE CONSERVED. THE VLT BOARD OF TRUSTEES APPROVED THIS CORRECTIVE AMENDMENT. AMENDMENT: PEET II (FASCHING/ALEXANDER) RICHMOND: THIS CORRECTIVE AMENDMENT FIXED TYPOGRAPHICAL ERRORS IN THE NAMES UNDER THE SIGNATURE LINES AND NOTARY BLOCKS OF THE GRANT OF DEVELOPMENT RIGHTS, CONSERVATION RESTRICTIONS, AND OPTION TO PURCHASE AT AGRICULTURAL VALUE. AN AFFIDAVIT OF SCRIVENER'S ERROR WAS FILED IN THE TOWN OF RICHMOND LAND RECORDS TO CORRECT THE ERROR. THE VLT BOARD OF TRUSTEES APPROVED THIS CORRECTIVE AMENDMENT. AMENDMENT: PROVENCHER BRIDPORT PARCEL (INGWERSEN) BRIDPORT: THE PURPOSES OF THE PROVENCHER BRIDPORT PARCEL (INGWERSEN) CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY USES, AS WELL AS TO CONSERVE THE SOIL RESOURCES, SCENIC VALUES, AND NATURAL RESOURCES ASSOCIATED WITH THE PROPERTY FOR PRESENT AND FUTURE GENERATIONS. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY REPLACING A RIGHT OF FIRST REFUSAL WITH AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") ON THE CONSERVED PROPERTY. THE OPAV FURTHERS THE PURPOSES OF THE EASEMENT BY KEEPING THE AGRICULTURAL LAND AFFORDABLE TO FARMERS, AS SUPPORTED BY VERMONT LAW AND POLICY, WHICH RESULTS IN THE LAND REMAINING IN PRODUCTIVE USE AND THEREFORE AS OPEN FARMLAND. IN ADDITION, THE AMENDMENT FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING WETLAND AND RIPARIAN PROTECTIONS. FINALLY, THE AMENDMENT ADDED THE VERMONT HOUSING AND CONSERVATION BOARD AS A CO-HOLDER TO THE EASEMENT ON THE SOUTH FARM PARCEL. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VERMONT HOUSING AND CONSERVATION BOARD AND THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE PROVENCHER BRIDPORT PARCEL (INGWERSEN) FARM. AMENDMENT: PION (RIVERS/CLARK) TROY: THE PURPOSES OF THE PION (RIVERS/CLARK) CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY USES, AS WELL AS TO CONSERVE THE SOIL RESOURCES, SCENIC VALUES, AND NATURAL RESOURCES ASSOCIATED WITH THE PROPERTY FOR PRESENT AND FUTURE GENERATIONS. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY REPLACING A RIGHT OF FIRST REFUSAL WITH AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") ON THE CONSERVED PROPERTY. THE OPAV FURTHERS THE PURPOSES OF THE EASEMENT BY KEEPING THE AGRICULTURAL LAND AFFORDABLE TO FARMERS, AS SUPPORTED BY VERMONT LAW AND POLICY, WHICH RESULTS IN THE LAND REMAINING IN PRODUCTIVE USE AND THEREFORE AS OPEN FARMLAND. IN ADDITION, THE AMENDMENT FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING WETLAND AND RIPARIAN PROTECTIONS. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VERMONT HOUSING AND CONSERVATION BOARD AND THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE PION (RIVERS/CLARK) FARM. AMENDMENT: FISKE (LAROCHE) FRANKLIN: THE PURPOSES OF THE FISKE (LAROCHE) CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY USES, AS WELL AS TO CONSERVE THE SCENIC VALUES, AND NATURAL RESOURCES ASSOCIATED WITH THE PROPERTY FOR PRESENT AND FUTURE GENERATIONS. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY REPLACING A RIGHT OF FIRST REFUSAL WITH AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") ON THE CONSERVED PROPERTY. THE VERMONT HOUSING AND CONSERVATION BOARD WAS ADDED AS A CO-HOLDER ONLY FOR THE OPAV. THE OPAV FURTHERS THE PURPOSES OF THE EASEMENT BY KEEPING THE AGRICULTURAL LAND AFFORDABLE TO FARMERS, AS SUPPORTED BY VERMONT LAW AND POLICY, WHICH RESULTS IN THE LAND REMAINING IN PRODUCTIVE USE AND THEREFORE AS OPEN FARMLAND. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VERMONT AGENCY OF AGRICULTURE, FOOD AND MARKETS, THE VERMONT HOUSING, AND CONSERVATION BOARD AND THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE FISKE (LAROCHE) FARM. PART II, LINE 9: EASEMENTS ACQUIRED BY THE TRUST ARE CONSERVATION EASEMENTS AND REPRESENT NUMEROUS RESTRICTIONS OVER THE USE AND DEVELOPMENT OF LAND NOT OWNED BY THE TRUST. SINCE THESE EASEMENTS HAVE NO MARKETABLE VALUE, THEY ARE NOT RECORDED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. ALL EASEMENTS ACQUIRED BY PURCHASE ARE EXPENSED AS DEVELOPMENT RIGHTS IN THE STATEMENT OF FUNCTIONAL EXPENSES. IN SOME INSTANCES WHEN THE TRUST PURCHASES A CONSERVATION EASEMENT ON FARMLAND, IT MAY ALSO ACQUIRE AN OPTION TO PURCHASE THE CONSERVED FARM AT AGRICULTURAL VALUE IN THE EVENT THE LANDOWNER ELECTS TO SELL THE PROPERTY TO AN UNRELATED PARTY OR TO SOMEONE WHO IS NOT A QUALIFIED FARMER AS DEFINED IN THE EASEMENT AGREEMENT. THE TRUST ALSO HOLDS TITLE TO CERTAIN PARCELS WHICH MANAGEMENT DEEMS NOT TO HAVE ANY FAIR VALUE DUE TO THE CONSERVATION RESTRICTIONS OR OTHER LIMITATIONS. IN ALL CASES, THE TRUST MONITORS ACTIVITIES ON THE LAND AND ENFORCES RESTRICTIONS. PART V, LINE 4: VERMONT LAND TRUST'S ENDOWMENTS SUPPORT A VARIETY OF USES INCLUDING: - FUNDING THE LAND AND CONSERVATION EASEMENT STEWARDSHIP PROGRAM - ENFORCING CONSERVATION EASEMENT VIOLATIONS - PROVIDING CONSERVATION PROJECT SUPPORT - PROVIDING SUPPORT FOR GENERAL LAND CONSERVATION OPERATIONS PART X, LINE 2: THE TRUST IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). CONTRIBUTIONS TO THE TRUST ARE DEDUCTIBLE AS ALLOWED UNDER SECTION 170(B)(1)(A)VI) OF THE CODE. THE TRUST HAS ADOPTED THE PROVISIONS OF FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC 740). ACCORDINGLY, MANAGEMENT HAS EVALUATED THE TRUST'S TAX POSITIONS AND CONCLUDED THE TRUST HAS MAINTAINED ITS TAX-EXEMPT STATUS, DOES NOT HAVE ANY SIGNIFICANT UNRELATED BUSINESS INCOME AND HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT OR DISCLOSURE IN THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE TRUST IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL OR STATE TAX AUTHORITIES FOR YEARS BEFORE 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN NETS ASSETS HELD BY VCF -2,033,032. COST OF LAND SOLD 4,347,449. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF LAND SOLD 4,347,449. X X X X X X X 1 CPG ENTERPRISED INC 283 SOUTH UNION STREET 1 BURLINGTON VT 05401 STUDY OF FEASIBILITY OF CAPITAL CAMPAIGN 0 0 15900 -15900 15900 -15900 VT 1 CENTER FOR AN AGRICULTURAL ECONOMY 140 JUNCTION RD HARDWICK VT 05843 571201683 501(C)3 10000 0 GENERAL SUPPORT TOWN OF ST JOHNSBURY 51 DEPOT SQUARE SUITE 3 ST JOHNSBURY VT 05819 036000674 MUNICIPALITY 18164 0 LAND MANAGEMENT FUND STATE OF VERMONT 109 STATE STREET MONTPELIER VT 05609 036000264 MUNICIPALITY 30000 0 LAND MANAGEMENT FUND TOWN OF HINESBERG 10632 ROUTE 116 HINESBURG VT 05461 036000511 MUNICIPALITY 113341 0 LAND MANAGEMENT FUND POULTNEY METTOWEE NATURAL RESOURCES CONSERVATION DISTRICT PO BOX 209 POULTNEY VT 05764 030282055 MUNICIPALITY 145000 0 GENERAL SUPPORT 5 0 2022 LAND STEWARD AWARDS 8 2400 PINE ISLAND PROTEINS PROJECT GRANT 1 5800 ERIC ROZENDAAL MEMORIAL AWARD 2021 1 5000 EDUCATIONAL AND CULTURAL AWARD 1 750 PART I, LINE 2: TO ENSURE COMPLIANCE WITH THE POLICIES, THE TRUST MONITORS THE CLOSINGS OF THE PROPERTIES TO ENSURE THAT THE FUNDS ARE BEING USED FOR THE INTENDED PURPOSE. INSPECTIONS OF THE PROPERTIES ARE ALSO DONE ANNUALLY. FOR OTHER GRANTS, DUE DILIGENCE CAN INCLUDE SITE VISITS AND REPORTING WHEN APPLICABLE. X X X X 0 0 0 0 0 0 0 0 0 NICK RICHARDSON PRESIDENT AND CEO 153822 0 0 0 0 0 3948 0 0 0 157770 0 0 0 SIOBHAN SMITH EXECUTIVE VP 132378 0 0 0 0 0 2171 0 17627 0 152176 0 0 0 X 24 176790 FAIR MARKET VALUE X 11 0 ZERO VALUE X 1 430000 FAIR MARKET VALUE X IN-KIND CONTRIBUTION TO GRANT 1 17928 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: VERMONT LAND TRUST USES REALTORS TO SELL REAL ESTATE. PART I, LINE 33: VERMONT LAND TRUST DOES NOT RECORD AS REVENUE DONATIONS OF CONSERVATION EASEMENTS BECAUSE THEY HAVE NO MARKETABLE VALUE. FORM 990, PART VI, SECTION A, LINE 6 THE VERMONT LAND TRUST IS A MEMBERSHIP ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE VERMONT LAND TRUST IS A MEMBERSHIP ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B THE ORGANIZATION'S MEMBERS HAVE THE FOLLOWING RIGHTS: TO RECEIVE NOTICE OF AND PARTICIPATE IN THE ORGANIZATION'S ANNUAL MEETING, TO NOMINATE CANDIDATES TO SERVE ON THE BOARD OF TRUSTEES, TO ELECT THE BOARD OF TRUSTEES, TO PETITION FOR SPECIAL MEETINGS OF THE MEMBERSHIP, AND TO APPROVE ANY CHANGES TO THE CORPORATE BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE DIRECTOR OF FINANCE, THE VP FOR OPERATIONS, THE PRESIDENT AND THE BOARD'S FINANCE AND INVESTMENTS COMMITTEE REVIEW THE 990 BEFORE FILING. AFTER THIS REVIEW THE DRAFT 990 IS CIRCULATED TO THE ENTIRE BOARD FOR A FINAL REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR ALL EMPLOYEES AND BOARD MEMBERS ARE REMINDED OF THE PROVISIONS OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, AND COMPLETE A CONFLICT OF INTEREST FORM. A STAFF SYSTEM IDENTIFIES IN ADVANCE ALL POTENTIAL TRANSACTIONS THAT COULD INVOLVE A CONFLICT. THE HR TEAM REVIEWS ALL CONFLICT OF INTEREST FORMS. IF A CONFLICT EXISTS, IT IS BROUGHT TO THE MANAGEMENT TEAM TO DETERMINE A COURSE OF ACTION. IF A MEMBER OF THE MANAGEMENT TEAM IS DETERMINED TO HAVE A POTENTIAL CONFLICT, IT IS DECIDED BY THE BOARD. A BOARD MEMBER WITH A POTENTIAL CONFLICT IS RECUSED FROM ALL DECISIONS AND DELIBERATIONS RELATED TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 SALARY SURVEYS FOR THE REGION FROM VARIOUS SOURCES ARE REVIEWED AND COMPARED TO CURRENT PAY SCALES BY A COMMITTEE OF THE BOARD OF TRUSTEES. FROM TIME TO TIME AN OUTSIDE CONSULTANT IS EMPLOYED TO REVIEW COMPENSATION LEVELS. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE COMPLETE, AUDITED FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST. A SUMMARY OF OUR FINANCIAL STATEMENTS IS PUBLISHED ANNUALLY IN OUR ANNUAL REPORT, AND DISTRIBUTED TO EACH MEMBER OF THE ORGANIZATION. THIS REPORT IS ALSO AVAILABLE TO THE GENERAL PUBLIC. COPIES OF THE 990 AND THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON OUR WEBSITE, VLT.ORG. OUR CONFLICT OF INTEREST POLICY IS ALSO AVAILABLE ON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 211,884. MANAGEMENT AND GENERAL EXPENSES 309,046. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 520,930. FORM 990, PART IX, LINE 24E CHARITABLE GIFT ANNUITY: PROGRAM SERVICE EXPENSES 178,314. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 178,314. LAND MANAGEMENT AND OPERATIONS: PROGRAM SERVICE EXPENSES 154,556. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 154,556. LOSS RELATED TO TRANSFERABLE DEVELOPMENT RIGHTS: PROGRAM SERVICE EXPENSES 147,208. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 147,208. BAD DEBT EXPENSE: PROGRAM SERVICE EXPENSES 132,864. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 132,864. CONTRACTORS: PROGRAM SERVICE EXPENSES 32,557. MANAGEMENT AND GENERAL EXPENSES 29,702. FUNDRAISING EXPENSES 7,790. TOTAL EXPENSES 70,049. EQUIPMENT RENTAL: PROGRAM SERVICE EXPENSES 2,966. MANAGEMENT AND GENERAL EXPENSES 2,705. FUNDRAISING EXPENSES 709. TOTAL EXPENSES 6,380. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN NETS ASSETS HELD BY VCF -2,033,032. PART XII, LINE 2C THERE HAVE BEEN NO CHANGES TO THIS PROCESS. BREWSTER UPLANDS CONSERVATION TRUST LLC 8 BAILEY AVENUE MONTPELIER VT 05602 273840843 MANAGE A 1,000+ ACRES FOR PUBLIC ACCESS RECREATION AND EDUCATIONAL PURPOSES VT 410965 1716366 VERMONT LAND TRUST INC VERMONT FOREST CARBON LLC 8 BAILEY AVENUE MONTPELIER VT 05602 843465811 CARBON SEQUESTRATION VT 659342 9899 VERMONT LAND TRUST INC