2020-07-15T11:26:56-05:00 2019-09-30 050409384 KAHN LITWIN RENZA & CO LTD 951 NORTH MAIN STREET PROVIDENCE RI 02904 990 2018-10-01 223073770 AQUIDNECK LAND TRUST AQUI 4018492799 790 AQUIDNECK AVENUE MIDDLETOWN RI 02842 CHARLES B ALLOTT ESQ EXECUTIVE DIRECTOR 4018492799 2020-07-15 1 PATRICK J MARTIN P00283486 4012742001 38.111.239.2 2020-07-15 11:48:23 ED P 0DE9224A7ECA9E89698B996EC4621D764FA0EBF9 D52BEBB77B7FBC4D68F7A8619DEF4FC42F71D885 2018 2020-09-23 17:36:50Z CHARLES B ALLOTT ESQ 790 AQUIDNECK AVENUE MIDDLETOWN RI 02842 1500504 0 X WWW.AQUIDNECKLANDTRUST.ORG X 1999 RI PRESERVE AQUIDNECK ISLAND'S OPEN SPACES & NATURAL CHARACTER FOR THE LASTING BENEFIT OF THE COMMUNITY. 16 16 14 160 0 0 1446260 1062879 0 0 166666 177004 58380 80653 1671306 1320536 0 0 0 0 561074 586669 0 0 183810 374893 475436 935967 1062105 735339 258431 15420558 16172561 190304 426222 15230254 15746339 TO PRESERVE AND STEWARD AQUIDNECK ISLAND'S OPEN SPACES FOR THE LASTING BENEFIT OF THE COMMUNITY WHILE CONNECTING PEOPLE WITH THE LAND THAT DEFINE THE ISLAND'S NATURAL CHARACTER. 0 0 216755 THESE CONSERVATION EASEMENTS TO PRESERVE OPEN SPACE ON AQUIDNECK ISLAND WERE ACQUIRED ON 9.88 ACRES OF LAND IN THE YEAR ENDED SEPTEMBER 30, 2019. THESE EASEMENTS CONSISTED OF:THE BLUE GARDEN 3.68ALLEN 6.20THESE PRESERVED PARCELS ARE STRATEGICALLY IMPORTANT, BASED ON CLEAR CONSERVATION CRITERIA. 179031 AS OF SEPTEMBER 30, 2019, THE LAND TRUST HAS PRESERVED AND PROTECTED 2605.55 ACRES OF LAND TO DATE. THE LAND TRUST ASSURES RESPONSIBLE, PERPETUAL STEWARDSHIP FOR ALL CONSERVED LANDS, DRIVEN BY A COMMITMENT TO PROTECT EACH PARCEL TO THE HIGHEST POSSIBLE STANDARD IN ACCORDANCE WITH THE CONSERVATION EASEMENT, A DEDICATION TO EXCELLENCE AND CARE IN STEWARDSHIP PRACTICES, AND ARDENT DEFENSE OF THE LAND ENTRUSTED TO THEM BY GRANTORS. 153166 PUBLIC ACCESS, EDUCATION AND COMMUNICATION, PRIMARILY THOUGH MEMBERSHIP SERVICES, BOLSTER THE LAND TRUST'S LAND PROTECTION AND STEWARDSHIP OBJECTIVES THROUGH TARGETED AND SHARPLY FOCUSED EDUCATION AND COMMUNICATION ACTIVITIES AND BALANCED PUBLIC ACCESS STRATEGIES THAT PROMOTE A LAND CONSERVATION ETHIC, CREATE AN UNDERSTANDING OF THE URGENT NEED TO CONSERVE OPEN SPACES, AND BUILD BROAD-BASED PUBLIC AWARENESS AND SUPPORT OF THE LAND TRUST'S MISSION AND GOALS. ACTIVITIES INCLUDE LECTURES, PROPERTY TOURS, NEWSLETTERS, SCHOOL VISITS, PROMOTIONAL MATERIALS AND THE ANNUAL REPORT AND ANNUAL MEETING. 548952 1 1 0 1 0 0 1 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 17 0 14 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 16 16 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 RI X MARTHA CURLEY 4018492799 790 AQUIDNECK AVENUE MIDDLETOWN RI 02842 NANCY JAMISON CHAIR 1.00 X X 0 0 0 JONATHAN GEWIRZ VICE CHAIR 1.00 X X 0 0 0 ZIA EFTEKHAR TREASURER 1.00 X X 0 0 0 EMLEN DRAYTON SECRETARY 1.00 X X 0 0 0 STEVE MACGILLIVRAY ESQ TRUSTEE 1.00 X 0 0 0 KAREN MENEZES TRUSTEE 1.00 X 0 0 0 CHARLES CLARKSON TRUSTEE 1.00 X 0 0 0 SUSAN RUF TRUSTEE 1.00 X 0 0 0 MEG STEINER TRUSTEE 1.00 X 0 0 0 KAITY RYAN TRUSTEE (TO 9/19) 1.00 X 0 0 0 TOM HOCKADAY TRUSTEE 1.00 X 0 0 0 JEFF HEIMILLER TRUSTEE (TO 2/19) 1.00 X 0 0 0 JANE B KIRKPATRICK TRUSTEE 1.00 X 0 0 0 LINDA MCGOLDRICK TRUSTEE 1.00 X 0 0 0 MICHAEL BLITZER TRUSTEE (TO 2/19) 1.00 X 0 0 0 MARY CLARE O'GRADY TRUSTEE (TO 2/19) 1.00 X 0 0 0 TAYLOR ROCK TRUSTEE (TO 2/19) 1.00 X 0 0 0 TIMOTHY BROWN TRUSTEE (AS OF 2/19) 1.00 X 0 0 0 WILLIAM HARVEY TRUSTEE (AS OF 2/19) 1.00 X 0 0 0 DWIGHT SIPPRELLE TRUSTEE 1.00 X 0 0 0 NANCY PARKER WILSON TRUSTEE 1.00 X 0 0 0 CHARLES ALLOTT ESQ EXECUTIVE DIRECTOR 40.00 X 124388 0 3732 MARTHA CURLEY DIRECTOR OF FINANCE 40.00 X 72118 0 30334 196506 0 34066 1 0 0 0 0 70934 83389 908556 30916 1062879 173944 173944 3060 0 3060 3060 3060 260621 83389 179968 80653 80653 1320536 0 0 257657 237185 78900 114098 44187 276204 160591 45477 70136 6967 3362 2240 1365 26087 12625 8407 5055 40226 18806 12532 8888 2500 2500 30732 1068 29664 38316 38316 6110 1393 4059 658 28148 9877 18271 34466 15379 8432 10655 40688 19540 12371 8777 761 217 327 217 8968 4080 2960 1928 25862 12090 8056 5716 20172 8676 7394 4102 LAND ACQUISITION IMPROV 174463 172328 2135 MISCELLANEOUS EXPENSES 41791 9427 30634 1730 DUES & FEES 20523 17146 2044 1333 BANK FEES 1304 652 652 632 295 197 140 1062105 548952 329343 183810 528772 584872 563 1125 560032 559678 4313 4170 6322138 51742 6197272 6270396 7871766 8440794 93052 92847 164788 218679 15420558 16172561 46419 71901 17048 170967 126837 183354 190304 426222 X 9464363 9757539 2966968 3189877 2798923 2798923 15230254 15746339 15420558 16172561 X 258431 257859 -205 X 0 1 X 1 0 X 2179081 2658205 2884172 1446260 1062879 10230597 2179081 2658205 2884172 1446260 1062879 10230597 1248649 8981948 148655 144892 154571 161527 173944 783589 11014186 879964 0.81550 0.80770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 1062105 1062105 181211 45303 0 0 331698 155982 165395 181211 834286 1251429 82925 38996 41349 45303 208573 312860 X X X 81 2605.55 0 0 0 1 1 634.00 21928 1 0 4854569 481287 274423 194932 5415347 4484598 518794 148823 4854569 4007292 668339 191033 4484598 3794743 301899 89350 4007292 3817263 67094 31923 121537 3794743 0.42900 0.51680 0.05420 0 0 5723732 5723732 441998 24389 417609 51962 21897 30065 104446 5456 98990 6270396 LOAN PAYABLE TO AFFILIATE 50000 AMOUNTS HELD FOR OTHERS 133354 183354 X PART II, LINE 3: THERE WERE NO EASEMENT MODIFICATIONS COMPLETED IN FY2019. PART II, LINE 9: ACQUISITIONS OF EASEMENTS AND LAND BY THE LAND TRUST OCCUR IN THE FORM OF BOTH CONTRIBUTIONS AND PURCHASES. EASEMENTS ACQUIRED BY THE LAND TRUST REPRESENT NUMEROUS RESTRICTIONS OVER THE USE AND DEVELOPMENT OF LAND NOT OWNED BY THE LAND TRUST. THESE EASEMENTS GENERALLY PROVIDE THAT THE LAND WILL BE MAINTAINED UNIMPAIRED IN ITS CURRENT NATURAL, AGRICULTURAL, SCENIC OR RECREATIONAL STATE. EASEMENTS PROTECTING LAND ARE NOT VALUED ON THE STATEMENT OF FINANCIAL POSITION GIVEN THAT THE EASEMENTS HAVE NO COMMERCIAL VALUE ONCE THEY ARE ACQUIRED BY THE LAND TRUST. PART V, LINE 4: AQUIDNECK LAND TRUST'S ENDOWMENT FUNDS ARE USED TO ENSURE RESPONSIBLE PERPETUAL STEWARDSHIP FOR ALL LAND TRUST CONSERVED LANDS, DRIVEN BY A COMMITMENT TO PROTECT EACH PARCEL TO THE HIGHEST POSSIBLE STANDARD IN ACCORDANCE WITH THE CONSERVATION EASEMENT, A DEDICATION TO EXCELLENCE AND CARE IN STEWARDSHIP PRACTICES, AND ARDENT DEFENSE OF THE LAND ENTRUSTED TO THE LAND TRUST BY GRANTORS. PART X, LINE 2: THE LAND TRUST IS A PUBLIC CHARITY EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THE LAND TRUST OPERATES IN A MANNER CONSISTENT WITH ITS TAX-EXEMPT STATUS AT BOTH THE FEDERAL AND STATE LEVELS. THE SUBSIDIARY HAS ELECTED TO HAVE ITS INCOME TAXED UNDER THE PROVISIONS OF SUBCHAPTER C OF THE INTERNAL REVENUE CODE. SUBCHAPTER C PROVIDES THAT THE CORPORATION IS TAXED ON THE ENTITY'S TAXABLE INCOME. FOR THE YEAR ENDING DECEMBER 31, 2019, THE SUBSIDIARY HAD A NET OPERATING LOSS WHICH CREATED A DEFERRED TAX ASSET AND CORRESPONDING VALUATION ALLOWANCE. MANAGEMENT HAS DETERMINED THAT THE DEFERRED TAX ASSET AND VALUATION ALLOWANCE ARE NOT MATERIAL AS OF DECEMBER 31, 2019. THE LAND TRUST ANNUALLY FILES IRS FORM 990 - RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTIVITIES OF TAX-EXEMPT ENTITIES. THESE TAX RETURNS AND THE INCOME TAX RETURNS OF THE SUBSIDIARY ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. THE ORGANIZATION CURRENTLY HAS NO TAX EXAMINATIONS IN PROGRESS. SUMMER PARTY 282036 72589 209447 39437 2000 114135 GOLF TOURNAMENT 38360 10800 27560 5656 6816 1648 2 23614 23614 10276 344010 83389 260621 5656 46253 2000 126059 179968 80653 X AUCTION ITEMS 58 30916 DONOR STATED VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 AQUIDNECK LAND TRUST HAS MEMBERS WHO PAY ANNUAL MEMBERSHIP DUES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF TRUSTEES ARE ELECTED OR CONFIRMED ANNUALLY BY THE MEMBERSHIP OF AQUIDNECK LAND TRUST AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE EXTERNAL AUDITORS AND REVIEWED BY THE DIRECTOR OF FINANCE. ONCE THE DIRECTOR OF FINANCE IS SATISFIED WITH THE FORM, IT IS SHARED WITH THE EXECUTIVE DIRECTOR, THEN IT IS FINALIZED AND A COPY IS SENT TO ALL BOARD MEMBERS. IF NO QUESTIONS OR CHANGES ARE NECESSARY, THE FORM IS THEN SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS PROVIDED TO ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES. THESE PEOPLE ARE ASKED TO REVIEW THE POLICY AND SIGN A STATEMENT INDICATING THAT THEY UNDERSTAND THE POLICY, HAVE REPORTED ALL POTENTIAL CONFLICTS DURING THE PAST YEAR IN ACCORDANCE WITH THE POLICY AND WILL REPORT ALL POTENTIAL CONFLICTS DURING THE COMING YEAR. THE CONTACT POINTS FOR POTENTIAL CONFLICTS ARE THE EXECUTIVE DIRECTOR AND THE BOARD CHAIR, FOLLOWING WHICH A DETERMINATION WILL BE MADE IF A CONFLICT ACTUALLY EXISTS. IN THOSE INSTANCES WHERE THE POTENTIAL TRANSACTION IS A CONFLICT, THE BOARD EXAMINES THE TRANSACTION AND A VOTE IS TAKEN (WITH THOSE INVOLVED RECUSING THEMSELVES) AS TO WHETHER THE ORGANIZATION WILL ENTER INTO THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A ANNUALLY THE BOARD CONDUCTS A PERFORMANCE REVIEW AND EVALUATION OF THE EXECUTIVE DIRECTOR. THE REVIEW ALSO ESTABLISHES THE EXECUTIVE DIRECTOR'S COMPENSATION FOR THE FOLLOWING YEAR. THE MINUTES OF THE MEETING NOTE THE OCCURRENCE OF THE ANNUAL REVIEW. THE COMPENSATION FOR ALL OTHER EMPLOYEES, INCLUDING THE DIRECTOR OF FINANCE, IS DETERMINED BY THE EXECUTIVE DIRECTOR DURING THE EMPLOYEE'S ANNUAL PERFORMANCE REVIEW AND EVALUATION. THE BOARD APPROVES THE COMPENSATION OF OTHER EMPLOYEES THROUGH THE ANNUAL BUDGET APPROVAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION WILL MAIL COPIES UPON REQUEST OR PROVIDE COPIES TO THOSE WHO COME TO THE ADMINISTRATIVE OFFICE DURING NORMAL BUSINESS HOURS. FORM 990, PART XI, LINE 9: LOSS IN INVESTMENT IN AFFILIATE -205. THREE S CORPORATION 790 AQUIDNECK AVE MIDDLETOWN RI 02842 050318828 PRESERVING OPEN SPACE FOR THE LASTING BENEFIT OF THE COMMUNITY. RI AQUIDNECK LAND TRUST C 653525 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0