2020-01-06T14:28:18-06:00 2019-06-30 020327524 NATHAN WECHSLER & CO PA 70 COMMERCIAL STREET CONCORD NH 03301 990 2018-07-01 030264836 VERMONT LAND TRUST INC VERM 8022235234 8 BAILEY AVENUE MONTPELIER VT 05602 NICK RICHARDSON PRESIDENT 8022235234 2020-01-06 1 ORESTE J MOSCA P00366101 6034482650 2019-12-19 74.220.235.65 2020-01-06 15:20:27 ES P B26EB9BA2F18DF0CBF7194F9E77842F1067065F9 EBF51314100ED4698CBA786A545CD751EFD15A0E 2018 2020-09-23 17:36:50Z NICK RICHARDSON 8 BAILEY AVENUE MONTPELIER VT 05602 24877852 0 X VLT.ORG X 1977 VT TO CONSERVE LAND FOR THE FUTURE OF VERMONT. 14 14 50 0 0 0 11180739 16992599 1748506 3247785 1990324 477774 103449 120043 15023018 20838201 109311 632677 0 0 3998518 4158425 0 0 523743 10596704 15043478 14704533 19834580 318485 1003621 46406619 44231760 14370817 10953829 32035802 33277931 X THE VERMONT LAND TRUST WORKS WITH INDIVIDUALS, ORGANIZATIONS, AND COMMUNITIES TO CONSERVE LAND FOR THE FUTURE OF VERMONT. SINCE 1977, VLT HAS PERMANENTLY CONSERVED MORE THAN 590,000 ACRES. THIS LAND INCLUDES MORE THAN 900 WORKING FARMS, HUNDREDS OF THOUSANDS OF ACRES OF PRODUCTIVE FORESTLAND, AND NUMEROUS PARCELS OF COMMUNITY LANDS. THIS CONSERVATION WORK CHANGES THE LIVES OF FAMILIES, INVIGORATES FARMS, LAUNCHES NEW BUSINESSES, MAINTAINS SCENIC VISTAS, ENCOURAGES RECREATIONAL OPPORTUNITIES, AND FOSTERS A RENEWED SENSE OF COMMUNITY. 0 0 16171589 632677 962358 CONSERVATION ACCOMPLISHMENTSTHE VERMONT LAND TRUST IS A MEMBER-SUPPORTED LAND CONSERVATION ORGANIZATION THAT HAS WORKED WITH FAMILIES, COMMUNITIES, FARMERS, AND FORESTLAND OWNERS SINCE 1977 TO CONSERVE OVER 2,000 PARCELS OF LAND IMPORTANT TO VERMONTERS. VLT HAS PERMANENTLY CONSERVED MORE THAN 590,000 ACRES. THIS LAND INCLUDES MORE THAN 1,000 WORKING FARMS, MORE THAN 410,000 ACRES OF PRODUCTIVE FORESTLAND, AND NUMEROUS PARCELS OF COMMUNITY LANDS. OUR STAFF CHOOSES INITIATIVES AND WEIGHS INVESTMENTS OF RESOURCES IN OUR EFFORT TO BEST SERVE CURRENT AND FUTURE RESIDENTS AND VISITORS TO VERMONT.OUR ACCOMPLISHMENTS INCLUDE:PROTECTING AND STEWARDING FARMS, FORESTS, COMMUNITY LANDS, AND ASSOCIATED IMPORTANT NATURAL AREAS.PROTECTING AND STEWARDING LAND THAT CONTRIBUTES TO THE CULTURAL, ECONOMIC, AND ECOLOGICAL VITALITY OF LOCAL COMMUNITIES.PROTECTING AND STEWARDING LAND THAT IS ACCESSIBLE TO THE PUBLIC, AND THAT IS BOTH AFFORDABLE AND AVAILABLE FOR THOSE WHO WISH TO USE IT.IMPROVING THE LIVES OF INDIVIDUALS AND FAMILIES BY INVIGORATING FARMS, LAUNCHING NEW BUSINESSES, MAINTAINING SCENIC VISTAS, PROVIDING LOCAL FOOD, ENCOURAGING RECREATIONAL OPPORTUNITIES, AND FOSTERING A RENEWED SENSE OF COMMUNITY. 1044968 608349 STEWARDSHIP ACCOMPLISHMENTSTHE VERMONT LAND TRUST ACCEPTS THE RESPONSIBILITY TO SAFEGUARD AND UPHOLD, FOR THE BENEFIT OF ALL VERMONTERS, THE LEGAL AGREEMENT SIGNED VOLUNTARILY BY THE LANDOWNER. WE CALL THIS WORK STEWARDSHIP. OUR STEWARDSHIP ROLE MEANS THAT WE MONITOR ALL OUR CONSERVED PROPERTIES ON AN ANNUAL BASIS AND MEET WITH ALMOST 90% OF THE OWNERS OF CONSERVED LAND. THESE EXPERIENCES, VISITING THE LAND AND CREATING RELATIONSHIPS WITH LANDOWNERS, ARE CORE TO CREATING BALANCED CARE FOR THE ECOLOGICAL INTEGRITY, CULTURAL HERITAGE, AND ECONOMIC PRODUCTIVITY OF CONSERVED PROPERTIES. 431524 500342 THE BREWSTER UPLANDS CONSERVATION TRUST IS A PROJECT TO MANAGE 1,000+ ACRES FOR PUBLIC ACCESS RECREATION AND EDUCATIONAL PURPOSES. 283011 738706 ATLAS TIMBERLANDS 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. 283011 738706 17931092 1 1 0 1 0 0 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 1 114 0 1 50 1 0 0 0 0 0 0 1 2 0 0 0 0 0 X 14 14 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 ALLISON DUDLEY 8022231226 8 BAILEY AVENUE MONTPELIER VT 05602 MOLLY LANGAN TRUSTEE 1.00 X 0 0 0 JOHN LAGGIS TRUSTEE 1.00 X 0 0 0 MARC MIHALY CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 MARY MCBRYDE CHAIRMAN OF THE BOARD (THRU 6/2/19) 1.00 X X 0 0 0 KATHERINE SIMS TRUSTEE 1.00 X 0 0 0 SUSAN ABBOTT TRUSTEE 1.00 X 0 0 0 CHARLIE HANCOCK VICE CHAIR 1.00 X X 0 0 0 WILLIAM KEETON TRUSTEE 1.00 X 0 0 0 ROBIN MORRIS TRUSTEE 1.00 X 0 0 0 DAVID MIDDLETON TRUSTEE 1.00 X 0 0 0 PIETER BOHEN TRUSTEE 1.00 X 0 0 0 MARIA YOUNG TRUSTEE 1.00 X 0 0 0 MIKE DONOHUE TRUSTEE 1.00 X 0 0 0 CHERYL MORSE TRUSTEE 1.00 X 0 0 0 HEIDI G CHAMBERLAIN TREASURER 1.00 X X 0 0 0 ELISE ANNES VP COMMUNITY RELATIONS 40.00 X 121802 0 3023 MICHELLE CONNOR SECRETARY 40.00 X 48830 0 25532 NICK RICHARDSON PRESIDENT 40.00 X 146046 0 3750 SIOBHAN SMITH VP FOR CONSERVATION 40.00 X 95731 0 29094 412409 0 61399 2 0 0 0 0 1257192 12198668 3536739 517256 16992599 PROJECT INCOME 515100 3096304 3096304 FARM INCOME 110000 151481 151481 3247785 396256 396256 120043 0 120043 120043 120043 751444 3369725 231896 3807755 519548 -438030 81518 -438030 519548 20838201 2809755 0 1035847 X 585876 585876 46801 46801 790330 331160 346618 112552 2265646 1814884 237209 213553 60237 47446 7405 5386 700807 531998 103144 65665 341405 243775 62107 35523 84138 84138 47000 24591 22162 247 218546 142731 53919 21896 402927 210820 189990 2117 2765 2475 290 144695 94499 35699 14497 399469 290591 101682 7196 133375 110647 9254 13474 46291 30232 11421 4638 328957 296272 32685 179068 129678 49390 99105 70052 28237 816 DEVELOPMENT RIGHTS 12065849 12065849 PROJECT FEASIBILITY 215114 201776 9486 3852 OTHER OPERATING EXPENSE 208744 136329 51501 20914 PROJECT EXPENSES 197636 176907 20729 269799 261565 6817 1417 19834580 17931092 1379745 523743 362660 511842 2084414 1594748 629553 521143 68755 151828 928000 508001 12743 12743 26885 29187 19703559 1935858 19142161 17767701 6342768 6640949 157354 188951 2488215 1582095 14163111 14722572 46406619 44231760 276024 327867 12283880 9035040 1810913 1590922 14370817 10953829 X 9518854 10030313 8299229 8508429 14217719 14739189 32035802 33277931 46406619 44231760 1003621 238508 0 X 0 1 X 1 1 1 X 10809042 10434027 9630200 11180739 16992599 59046607 10809042 10434027 9630200 11180739 16992599 59046607 2770465 56276142 474998 567263 433932 443794 396256 2316243 61362850 9378112 0.91710 0.87560 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 39899 39899 19794681 19834580 1000000 250000 0 0 908476 769410 885227 1000000 3563113 5344670 96548 74021 55374 39899 265842 227119 192353 221307 250000 890779 1336169 X X X 2205 493165.00 1 5 1 1 8100.00 345819 1 19661757 2296494 1091985 2536408 185352 20328476 19515143 1803446 1715187 3182981 189038 19661757 17651411 2814765 2369414 3156596 163851 19515143 20338554 1409127 -189113 3753440 153717 17651411 21550798 1587873 683671 3315653 168135 20338554 0.19600 0.73550 0.06850 1 0 14062301 833776 14896077 3919925 1167961 2751964 696529 600785 95744 35526 155502 167112 23916 17767701 CHARITABLE REMAINDER TRUSTS 1087971 BENEFICIAL INTEREST IN NET ASSETS HELD BY VERMONT COMMUNITY FOUNDATION 13612761 DEPOSITS 21840 14722572 DEFERRED CHARITABLE ANNUITIES 1585627 DEFERRED OPTION PAYMENTS 5295 1590922 X 24884464 238508 3807755 4046263 20838201 0 20838201 23642335 3807755 3807755 19834580 0 19834580 PART II, LINE 5: GENSBURG (STAHLER) KIRBY & LYNDON, VT MARCH 20, 2019 THE PURPOSES OF THE GENSBURG CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY USES, AS WELL AS TO CONSERVE THE SCENIC VALUES, NATURAL RESOURCES AND RECREATIONAL OPPORTUNITIES 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 ADDING AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") TO THE CONSERVED PROPERTY. THE OPAV CLEARLY 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 FUTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING 9.4 ACRES OF PREVIOUSLY UNCONSERVED LAND TO THE EASEMENT. THE NEW LAND INCLUDED THE EXISTING FARM INFRASTRUCTURE AND FARM HOUSING, AND THE EASEMENT ON THE 9.4 ACRES RESTRICTS THOSE IMPROVEMENTS AND THEIR USES WITHIN A FARMSTEAD COMPLEX AREA. IN ADDITION, THE AMENDMENT STRENGTHENED THE SUBDIVISION RESTRICTIONS OF THE PROPERTY BY INCLUDING LIMITATIONS ON PARTITION AND SEPARATE CONVEYANCE IN THE EASEMENT. THE LANDOWNERS DONATED THE ADDITIONAL RESTRICTIONS, THE VALUE OF WHICH WAS DETERMINED BY AN INDEPENDENT APPRAISER. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE GENSBRUG FARM. BAGLEY GRANVILLE, VT MAY 8, 2019 THE PURPOSE OF THE BAGLEY FARM CONSERVATION EASEMENT IS TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY USES, AS WELL AS TO CONSERVE THE SCENIC VALUES, NATURAL RESOURCES, WILDLIFE HABITATS, AND RECREATIONAL OPPORTUNITIES ASSOCIATED WITH THE PROPERTY. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY ADDING AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") TO THE ORIGINALLY CONSERVED PROPERTY. THE OPAV CLEARLY 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 8 ACRES OF PREVIOUSLY UNCONSERVED LAND TO THE EASEMENT. THE NEW LAND INCLUDED A PORTION OF THE FARMSTEAD AREA, WHICH IS RESTRICTED AS A FARMSTEAD COMPLEX THAT LIMITS AND GOVERNS THE USES AND IMPROVEMENTS THEREIN. THE EASEMENT IS CO-HELD BY VLT AND THE VERMONT HOUSING AND CONSERVATION BOARD ("VHCB AND TOGETHER WITH VLT, THE "CO-HOLDERS"). THE CO-HOLDERS PAID FAIR MARKET VALUE FOR THE ADDITIONAL RESTRICTIONS, THE VALUE OF WHICH WAS DETERMINED BY AN INDEPENDENT APPRAISER. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VHCB BOARD AND THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE BAGLEY FARM. CROWE M (HALLEY) WOODSTOCK, VT JUNE 5, 2019 THE PURPOSES OF THE CROWE M CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND WOOD LANDS IN ORDER TO CONTRIBUTE TO THE IMPLEMENTATION OF THE POLICIES OF THE STATE OF VERMONT DESIGNED TO FOSTER THE CONSERVATION OF THE STATE'S AGRICULTURAL, FOREST, AND OTHER NATURAL RESOURCES, AS WELL AS TO CONSERVE THE SCENIC QUALITIES, NATURAL RESOURCES, WILDLIFE HABITATS AND RECREATIONAL OPPORTUNITIES ASSOCIATED WITH THE PROPERTY. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY ADDING AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") TO A PORTION OF THE ORIGINALLY CONSERVED PROPERTY. THE OPAV CLEARLY 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. THE LANDOWNER DONATED THE ADDITIONAL RESTRICTIONS. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE CROWE M PROPERTY. BUMP-AQUAVIVA WESTMINSTER, VT OCTOBER 26, 2018 THE PURPOSES OF THE BUMP-AQUAVIVA CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND WOOD LANDS IN ORDER TO CONTRIBUTE TO THE IMPLEMENTATION OF THE POLICIES OF THE STATE OF VERMONT DESIGNED TO FOSTER THE CONSERVATION OF THE STATE'S AGRICULTURAL, FOREST, AND OTHER NATURAL RESOURCES, AS WELL AS TO CONSERVE THE SCENIC VALUES, NATURAL RESOURCES, WILDLIFE HABITATS AND RECREATIONAL OPPORTUNITIES ASSOCIATED WITH THE PROPERTY. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY ADDING AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") TO THE ORIGINALLY CONSERVED PROPERTY. THE OPAV REPLACED A LIMITED OPTION TO PURCHASE A PORTION OF THE PROPERTY. THE OPAV CLEARLY 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. THE VERMONT HOUSING AND CONSERVATION BOARD (VHCB) FUNDED THE ACQUISITION OF THE OPAV, AND VHCB CO-HOLDS THE OPAV WITH VLT. THE CO-HOLDERS PAID SLIGHTLY LESS THAN FAIR MARKET VALUE FOR THE ADDITIONAL RESTRICTIONS, THE VALUE OF WHICH WAS DETERMINED BY AN INDEPENDENT APPRAISER. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. VHCB AND THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE BUMP-AQUAVIVA FARM. SHEPARD D HARDWICK, VT DECEMBER 18, 2018 THE PURPOSES OF THE SHEPARD D FARM CONSERVATION EASEMENT ARE TO CONSERVE PRODUCTIVE AGRICULTURAL AND FORESTRY LANDS TO FACILITATE ACTIVE AND ECONOMICALLY VIABLE FARM USE OF THE PROPERTY, AS WELL AS TO CONSERVE THE SCENIC, NATURAL RESOURCES AND RECREATIONAL OPPORTUNITIES ASSOCIATED WITH THE PROPERTY TO IMPROVE THE QUALITY OF LIFE FOR VERMONTERS AND TO MAINTAIN FOR THE BENEFIT OF FUTURE GENERATIONS THE ESSENTIAL CHARACTERISTICS OF THE VERMONT COUNTRYSIDE. THE MODIFICATION TO THE EASEMENT STRENGTHENED THE PROTECTION OF THE AGRICULTURAL, FORESTRY AND SCENIC VALUES OF THE PROPERTY BY ADDING AN OPTION TO PURCHASE AT AGRICULTURAL VALUE ("OPAV") TO THE ORIGINALLY CONSERVED PROPERTY. THE OPAV CLEARLY 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. THE EASEMENT IS CO-HELD BY VLT AND THE VERMONT HOUSING AND CONSERVATION BOARD ("VHCB AND TOGETHER WITH VLT, THE "CO-HOLDERS"). THE CO-HOLDERS PAID SLIGHTLY LESS THAN FAIR MARKET VALUE FOR THE ADDITIONAL RESTRICTIONS, THE VALUE OF WHICH WAS DETERMINED BY AN INDEPENDENT APPRAISER. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. VHCB AND THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE SHEPARD D 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 2016. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF TIMBER HARVEST EXPENSE AND DEPLETION COST OF LAND SOLD PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF TIMBER HARVEST EXPENSE AND DEPLETION COST OF LAND SOLD 1 DEER FLATS FARM LLC 1290 VT RT 30 W PAWLET VT 05761 043658693 501(C)3 20000 WATER QUALITY COLD HOLLOW TO CANADA PO BOX 406 MONTGOMERY VT 05471 364717953 501(C)3 8000 CARBON SEQUESTRATION PROJECT PROSPECT MOUNTAIN ASSOCIATION 204 PROSPECT ACCESS WOUDFORD VT 05201 821194722 501(C)3 557876 LAND ACQUISITION WATER QUALITY 1 6801 ORGANIC TRANSITION 1 40000 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. X 25 179256 FAIR MARKET VALUE X 13 0 ZERO VALUE X 2 338000 FAIR MARKET VALUE 8 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 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 VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC MOLLY LANGAN - 209 BATTERY ST , BURLINGTON , VT 05401. JOHN LAGGIS - 589 HARDWICK FARMS RD, HARDWICK, VT 05836. MARC MIHALY - 759 MARSHFIELD RD, EAST CALAIS , VT 05650. MARY MCBRYDE - 1456 NEW BOSTON RD, NORWICH, VT 05055. KATHERINE SIMS - 70 SUMMER DR, CRAFTSBURY, VT 05826. SUSAN ABBOTT - 2435 HOLLISTER RD, MARSHFIELD , VT 05658. CHARLIE HANCOCK - PO BOX 405, MONTGOMERY CENTER , VT 05471. WILLIAM KEETON - 91 BROOKES AVE, BURLINGTON , VT 05401. ROBIN MORRIS - 1217 BROOK RD, WAITSFIELD , VT 05673. DAVID MIDDLETON - 1399 RAYMOND RD, DANBY, VT 05739. PIETER BOHEN - PO BOX 163, WOODSTOCK, VT 05091. MARIA YOUNG - 118 PHILLIPS RD, W GLOVER , VT 05875. MIKE DONOHUE - 401 GRANDVIEW DR, RICHMOND , VT 05477. CHERYL MORSE - 27 N UNDERHILL STATION RD , UNDERHILL, VT 05489. HEIDI G. CHAMBERLAIN - PO BOX 332, MANCHESTER CENTER , VT 05255. FORM 990, PART IX, LINE 24E CHARITABLE GIFT ANNUITY: PROGRAM SERVICE EXPENSES 172,306. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 172,306. FARM EXPENSES: PROGRAM SERVICE EXPENSES 51,629. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,629. MISC. EXPENSES: PROGRAM SERVICE EXPENSES 15,385. MANAGEMENT AND GENERAL EXPENSES 1,803. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,188. SPONSORSHIPS AND CONTRIBUTIONS : PROGRAM SERVICE EXPENSES 13,010. MANAGEMENT AND GENERAL EXPENSES 1,525. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,535. EQUIPMENT RENTAL: PROGRAM SERVICE EXPENSES 9,235. MANAGEMENT AND GENERAL EXPENSES 3,489. FUNDRAISING EXPENSES 1,417. TOTAL EXPENSES 14,141. 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 500342 1664119 VERMONT LAND TRUST INC VERMONT FOREST CARBON LLC 8 BAILEY AVENUE MONTPELIER VT 05602 843465811 CARBON SEQUESTRATION VT 0 0 VERMONT LAND TRUST INC