2019-11-15T10:32:27-06:00 2019-06-30 570381582 ELLIOTT DAVIS LLCPLLC 100 CALHOUN STREET SUITE 300 CHARLESTON SC 29401 990 2018-07-01 570809313 LOWCOUNTRY LAND TRUST INC LOWC 8435776510 635 RUTLEDGE AVE NO 107 CHARLESTON SC 29403 DAVID MAYBANK III CHAIRMAN OF THE BOARD OF TRUSTEES 8435776510 2019-11-15 1 BRANDON T RENAUD P00743576 8435777040 2019-11-15 75.148.57.234 2019-11-15 09:19:43 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 E114538C04370F4B16790C78742369BBF189AB00 2018 2020-04-17 16:48:07Z DAVID MAYBANK III 635 RUTLEDGE AVE NO 107 CHARLESTON SC 29403 2936920 0 X WWW.LOWCOUNTRYLANDTRUST.ORG X 1985 SC PROTECTING IRREPLACEABLE LOWCOUNTRY LANDS INCLUDING WORKING FARMS AND FORESTS, SCENIC VISTAS, RELATIVELY NATURAL HABITATS AND HISTORIC LANDSCAPES. 18 18 20 773 0 0 781890 1251558 129372 94030 438433 571744 98008 45792 1447703 1963124 0 0 0 0 1057797 1172352 0 0 383181 749627 707811 1807424 1880163 -359721 82961 22918076 22926212 7780004 7858102 15138072 15068110 X TO HONOR THE RELATIONSHIP BETWEEN PEOPLE AND LAND BY PROTECTING IRREPLACEABLE LOWCOUNTRY LANDS INCLUDING WORKING FARMS AND FORESTS, SCENIC VISTAS, RELATIVELY NATURAL HABITATS AND HISTORIC LANDSCAPES USING BOTH ESTABLISHED AND INNOVATIVE CONSERVATION APPROACHES. FROM 1986 THROUGH THE CLOSE OF FY19, LLT HAS PERMANENTLY PROTECTED 483 PROPERTIES ENCOMPASSING OVER 144,992 ACRES SPANNING THE 17 COUNTIES OF SOUTH CAROLINA'S COASTAL PLAIN. THE PROPERTIES INCLUDE WORKING FARMS AND FORESTLANDS, WATERWAYS AND WATERSHEDS, HUNTING PROPERTIES, HUMMOCK ISLANDS, VIBRANT MARSH TIDAL ECOSYSTEMS, BLACKWATER STREAMS AND LONGLEAF PINE RESTORATION AREAS. 0 0 411141 56770 LAND PROTECTION:DURING FY19, THE LOWCOUNTRY LAND TRUST (LLT) COMPLETED 5 NEW CONSERVATION EASEMENT PROJECTS AND 1 CONSERVATION EASEMENT AMENDMENT TO ADD ACREAGE, FOR A TOTAL OF 4,835 NEWLY PROTECTED ACRES. THIS BRINGS LLT'S TOTAL PROTECTED ACREAGE TO 144,992 ACRES AS OF JUNE 30, 2019. THIS FY19 ACREAGE TOTAL INCLUDES THE 1,712-ACRE DRIFTWOOD PLANTATION CONSERVATION EASEMENT, WHICH HAS NOT PREVIOUSLY BEEN COUNTED IN LLT'S ACREAGE. THAT EASEMENT CONTAINS A PROVISION THAT STATES THAT IF THE GRANTEE (THE NATURE CONSERVANCY, OR "TNC") ENTERS INTO FEE TITLE OWNERSHIP OF THE PROPERTY, "ALL RIGHTS AND PRIVILEGES OF ENFORCEMENT OF THE [EASEMENT TERMS] SHALL BE HELD BY BOTH GRANTEE AND BY THE LOWCOUNTRY OPEN LAND TRUST [NOW KNOWN AS LOWCOUNTRY LAND TRUST]." THIS PROVISION TOOK EFFECT WITH THE NATURE CONSERVANCY'S ACQUISITION OF FEE TITLE ON DECEMBER 8, 2015.ONE KEY PROJECT IN FY 19 WAS THE PROTECTION OF SILVER BLUFF, A 3,250 ACRE AUDUBON SANCTUARY ON THE BANKS OF THE SAVANNAH RIVER. WITH LIMITED PUBLIC ACCESS, BIRD FRIENDLY FOREST MANAGEMENT, AND A VARIETY OF NATIVE HABITATS AND SPECIES, THE PERMANENT PROTECTION OF THIS PROPERTY IS A HUGE CONSERVATION WIN FOR THE SOUTH LOWCOUNTRY. DURING FY19, LLT CONTINUED TO IMPLEMENT A PLAN TO SELL THE 589-ACRE HYDE PARK PLANTATION ENCUMBERED BY A CONSERVATION EASEMENT. THIS PROJECT WILL REVOLVE FUNDS BACK INTO THE EAST BRANCH REVOLVING LAND FUND FOR ADDITIONAL LAND CONSERVATION IN THE HISTORIC COOPER RIVER CORRIDOR, WHICH HAS BEEN THE FOCUS OF PUBLIC AND PRIVATE CONSERVATION EFFORTS FOR DECADES. ACKNOWLEDGING THIS FOCUS OF CONSERVATION EFFORTS IN THE EAST BRANCH AREA, LLT HIRED A NORTH COAST PROJECT MANAGER IN FY19. THE CREATION OF THIS ROLE ALLOWS LLT TO STRATEGICALLY CONSERVE AND INVEST IN THE EAST BRANCH OF THE COOPER, THE BLACK RIVER AREA, AND MANY OTHER SENSITIVE AND ECOLOGICALLY SIGNIFICANT HABITATS IN SC'S NORTHERN COASTAL PLAIN.IN ADDITION, LLT HAS BEEN INVOLVED IN CONSERVATION PLANNING WITH CONSERVATION AND COMMUNITY PARTNERS, THE BUSINESS COMMUNITY, AND ACADEMIC INSTITUTIONS BOTH AT THE REGIONAL AND LOCAL SCALES TO IDENTIFY CONSERVATION OPPORTUNITIES AND DEVELOP NEW AND CREATIVE TOOLS FOR LAND PROTECTION, STABILIZATION, MANAGEMENT, AND STEWARDSHIP. THESE EFFORTS INCLUDE THE JOHNS ISLAND COMMUNITY CONSERVATION INITIATIVE, A JOINT EFFORT WITH NORTH CAROLINA STATE UNIVERSITY'S COLLEGE OF NATURAL RESOURCES AND THE CENTER FOR HEIRS PROPERTY PRESERVATION. IN FY 19, LLT SECURED A CONTRACTOR WITH ROOTS IN JOHNS ISLAND TO FOCUS SOLELY ON THE RE-ENGAGEMENT WITH AND SUCCESSFUL COMPLETION OF THIS CONSERVATION INITIATIVE. THE INITIATIVE CONTINUES INTO FY20 AND WILL CULMINATE IN A CONSERVATION AND IMPLEMENTATION PLAN. LLT ALSO HAS CONDUCTED A RESILIENCE PLANNING PROCESS FOR SOUTH CAROLINA'S COASTAL PLAIN THAT WILL BE COMPLETED IN FY 20 AND WILL BE PRESENTED AT THE NATIONAL LAND TRUST ALLIANCE RALLY IN OCTOBER 2019. 545000 1010 STEWARDSHIP:IN THE 2018 CALENDAR YEAR, LLT MONITORED 100% OF ITS PROTECTED PROPERTIES (CONSERVATION EASEMENTS, DEED RESTRICTIONS AND FEE-OWNED) BY ON-THE-GROUND MONITORING. LLT SUPPLEMENTED SEVERAL MONITORING VISITS WITH ADDITIONAL AERIAL MONITORING. FOR THE FISCAL YEAR JULY 1, 2018 JUNE 30, 2019, LLT CLOSED TWO AMENDMENTS TO EXISTING CONSERVATION EASEMENTS- ONE TO ADD ACREAGE AND ONE TO CLARIFY AND REDUCE RESERVED RIGHTS. LLT CONTINUES TO MEET AS MANY LANDOWNERS AS POSSIBLE ON MONITORING VISITS TO ESTABLISH DEEP WORKING RELATIONSHIPS AND PROVIDE APPROPRIATE EDUCATION MATERIALS RELATED TO MANAGEMENT. THE ORGANIZATION INCREASED ITS STEWARDSHIP CAPACITY THROUGH THE HIRING OF A PART TIME STEWARDSHIP ASSOCIATE IN FEBRUARY 2019. STEWARDSHIP STAFF HAS MAINTAINED AND CONTINUES TO IMPLEMENT RESTORATION AND MITIGATION ACTIVITIES ON LLT'S FEE SIMPLE KEYSTONE, FRENCH QUARTER CREEK, AND MALLARD TRACT PROPERTIES. THROUGH THE ADMINISTRATION OF A GRANT AWARDED TO LLT THROUGH THE UNITED STATES FISH AND WILDLIFE SERVICE, LLT WAS ALSO ABLE TO ASSIST IN LONGLEAF RESTORATION AND MANAGEMENT OF AN HISTORIC INLAND RICE FIELD ON TWO PROPERTIES PROTECTED THROUGH CONSERVATION EASEMENTS. 90596 36250 OUTREACH/COMMUNICATIONS:IN FY19, LLT HELD FOUR SIGNATURE DONOR EVENTS, INCLUDING THE ANNUAL SPRING PICNIC, SOUL OF THE LOWCOUNTRY OYSTER ROAST, FARM TO TABLE DINNER, AND LONGLEAF SOCIETY CELEBRATION. MORE THAN 840 GUESTS ATTENDED THESE EVENTS. EACH EVENT WAS HELD ON A SPECIAL PROTECTED PROPERTY, WHICH SHOWCASED THE LAND TRUST'S WORK AND VALUES. IN FY19, WE CONTINUED ROBUST SOUL OF THE LOWCOUNTRY OUTREACH AND EDUCATIONAL PROGRAMMING. IN COORDINATION WITH OTHER COMMUNITY PARTNERS, LLT PRODUCED 17 VOLUNTEER EVENTS, ENGAGING OVER 770 VOLUNTEERS THAT DONATED OVER 2,020 HOURS OF WORK TO SUPPORT LLT. THESE EVENTS INCLUDE EIGHT LIVING SHORELINE OYSTER REEF BUILDS, THREE OYSTER SHELL BAGGING AND RECYCLING EVENTS, FIVE LITTER AND MARSH SWEEPS, AND ONE TRAIL MAINTENANCE DAY AT ROSEBROCK PARK. LLT PARTNERED WITH SCDNR, CHARLESTON WATERKEEPER, KEEP CHARLESTON BEAUTIFUL, KEEP DORCHESTER COUNTRY BEAUTIFUL, DORCHESTER COUNTY PARKS AND REC, EDISTO ISLAND OPEN LAND TRUST, SUMMERVILLE SALTWATER ANGLERS, AMERICAN RIVERS, LOWCOUNTRY MARSH SWEEPERS, SEA GRANT, NATIONAL PARK SERVICE AT FORT MOULTRIE, USFWS AND CCA THROUGH THIS FISCAL YEAR'S VOLUNTEER PROGRAMMING.TO ENGAGE WITH THE CHARLESTON COMMUNITY AT LARGE, LLT HAD A PRESENCE AT VARIOUS COMMUNITY EVENTS, INCLUDING MUSC EARTH DAY, CHARLESTON PRIDE FESTIVAL, REVEL ON THE RIVER, OUTDOOR PROJECT BLOCK PARTY AND FIRE FEST. WE ALSO PRESENTED AT CHARLESTON GREEN DRINKS AND HOSTED SOUL SESSIONS, A FREE HAPPY HOUR EVENT WHERE WE BRING TOGETHER DYNAMIC SPEAKERS FROM LOCAL BUSINESSES AND ORGANIZATIONS TO DISCUSS THEIR WORK AND HOW IT'S AN EXPRESSION OF THEIR DEEP CONNECTION TO LOWCOUNTRY LAND AND WATER. THROUGHOUT THE FISCAL YEAR, WE ALSO CONTINUED THE IMPLEMENTATION AND EXECUTION OF ORGANIZATION AND PROGRAMMATIC BRANDING AND COMMUNICATION EFFORTS, INCLUDING ENHANCEMENTS TO THE WEBSITE, REGULAR SOCIAL MEDIA POSTS, AND PRODUCTION OF TWO NEWSLETTERS. 1046737 1 1 0 1 0 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 20 0 1 20 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X MEGAN RAMSEY 8434100672 635 RUTLEDGE AVE SUITE 107 CHARLESTON SC 29403 MR BOB BALDWIN TREASURER 3.00 X X 0 0 0 DR W MAC BAUGHMAN TRUSTEE 1.00 X 0 0 0 DR WALTER BLESSING JR TRUSTEE 1.00 X 0 0 0 MRS AMANDA DAVIS TRUSTEE 1.00 X 0 0 0 MR J STANFIELD GRAY TRUSTEE 1.00 X 0 0 0 MR THOMAS D W HUTTO SECRETARY 3.00 X X 0 0 0 MRS ELEANOR MOORE KUHL TRUSTEE 1.00 X 0 0 0 DR ANN G KULZE TRUSTEE 1.00 X 0 0 0 MR DAVID MAYBANK III BOARD CHAIR 3.00 X X 0 0 0 MR BURNIE MAYBANK III TRUSTEE 1.00 X 0 0 0 MR LINDSAY NEVIN TRUSTEE 1.00 X 0 0 0 MR TELFAIR PARKER TRUSTEE 1.00 X 0 0 0 MR ROBERT DANIEL PERRY TRUSTEE 1.00 X 0 0 0 MR JOSHUA B RAGLIN TRUSTEE 1.00 X 0 0 0 MR RANDELL C STONEY III TRUSTEE 1.00 X 0 0 0 MR G TRENHOLM WALKER TRUSTEE 1.00 X 0 0 0 MR R SCOTT WALLINGER VICE CHAIR 3.00 X X 0 0 0 MR EUGENE H WALPOLE IV TRUSTEE 1.00 X 0 0 0 ASHLEY DEMOSTHENES CHIEF EXECUTIVE OFFICER 40.00 X 126875 0 13790 126875 0 13790 1 0 0 0 0 66999 1184559 7204 1251558 TRANSFER FEES 900099 56770 56770 EDUCATIONAL EVENTS 900099 36250 36250 MERCHANDISE SALES 900099 1010 1010 94030 290293 290293 27307 0 27307 27307 27307 1234502 953051 281451 281451 281451 29230 20745 8485 8485 MISCELLANEOUS INCOME 900099 10000 10000 10000 1963124 104030 0 607536 130000 74864 28595 26541 828621 477184 182265 169172 142180 84650 31540 25990 71551 40571 15393 15587 90136 90136 41121 41121 164810 81563 61016 22231 21618 5640 6449 9529 12001 4183 5693 2125 31608 12355 3906 15347 113576 63098 25239 25239 28348 19811 3260 5277 20000 20000 27806 15448 6179 6179 TELEPHONE 35950 23718 6136 6096 TAXES AND INSURANCE 35183 20341 7447 7395 EVENTS AND SPEAKERS 21051 300 20751 DUES AND SUBSCRIPTIONS 11807 20 11047 740 52796 12855 14959 24982 1880163 1046737 450245 383181 260426 430867 9644 50294 13772134 89154 13683049 13682980 8863101 8670782 56226 42170 45630 49119 22918076 22926212 53004 131102 1000000 1000000 6727000 6727000 7780004 7858102 X 13697153 13360676 820787 1087302 620132 620132 15138072 15068110 22918076 22926212 82961 -152923 0 X X 0 1 X 1 0 X 2844924 1340843 4875059 781890 1251558 11094274 2844924 1340843 4875059 781890 1251558 11094274 814764 10279510 282039 251664 242952 263940 317600 1358195 864 41465 19830 10000 72159 12524628 771501 0.82070 0.70130 X SCHEDULE A PART II ADDITIONAL INCOME FOR THE YEAR ENDING JUNE 30, 2019 INCLUDED: NET INCOME FROM REALIZED GAINS ON SECURITY SALES: $281,451 NET INCOME FROM FUNDRAISING EVENTS: $8,485 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 1 0 0 0 0 0 0 0 1 227 0 0 0 227 0 PART I-A, LINE 1: REPRESENTATIVES OF THE ORGANIZATION ATTEMPTED TO INFLUENCE THE FOLLOWING PIECES OF LEGISLATION: HR.1992 AND S.170 - CHARITABLE CONSERVATION EASEMENT INTEGRITY ACT, NORTH AMERICAN WETLANDS CONSERVATION ACT REAUTHORIZATION, LAND AND WATER CONSERVATION FUND REAUTHORIZATION, AND FUNDING. X X X X 459 141712.00 1 1 9487.00 485075 1 55712 370 9455 46627 56108 104 500 55712 56034 574 500 56108 60042 -3508 500 56034 69794 -6014 3738 60042 1.00000 0 0 13648857 13648857 24515 4914 19601 98762 84240 14522 13682980 LAND CONTRIBUTION PAYABLE 6727000 6727000 X 1806554 -152923 16729 20745 -115449 1922003 41121 41121 1963124 1876516 16729 20745 37474 1839042 41121 41121 1880163 PART II, LINE 9: THE FOOTNOTES TO THE AUDITED FINANCIAL STATEMENTS REFLECT THE FOLLOWING: "VARIOUS LANDS AND LEGAL RESTRICTIONS ON LANDS ARE DONATED TO THE TRUST FOR THE PURPOSE OF PRESERVATION. AS OF JUNE 30, 2019 AND 2018, THE TITLE TO 4,922 ACRES OF LAND, WHICH CONSISTS PRIMARILY OF MARSH LANDS, HAD BEEN DONATED TO THE TRUST. THE TRUST RECORDS IN THE CONSOLIDATED FINANCIAL STATEMENTS THE ESTIMATED FAIR MARKET VALUE AT THE TIME OF DONATION OF LAND TO WHICH IT HOLDS TITLE. CONSERVATION EASEMENTS, DEED RESTRICTIONS, AND RETIRED MINERAL RIGHTS ARE RECORDED AT A NOMINAL VALUE IN THE CONSOLIDATED FINANCIAL STATEMENTS. AS OF JUNE 30, 2019, CONSERVATION EASEMENTS HAD BEEN GRANTED TO THE TRUST ON 141,712 ACRES." PART X, LINE 2: MANAGEMENT HAS EVALUATED THE CORPORATION'S TAX POSITIONS AND CONCLUDED THAT THE CORPORATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 20,745. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 20,745. OYSTER ROAST 13450 13450 5295 FARM TO TABLE 15350 15350 5642 5 430 430 9808 29230 29230 20745 20745 8485 FORM 990, PART VI, SECTION A, LINE 4 BYLAWS WERE UPDATED TO CHANGE THE NAME FROM LOLT TO LLT, TO EXPAND THE EXECUTIVE COMMITTEE MEMBERSHIP, AND OTHER MINOR EDITS. ALL POLICIES UPDATED IN MAY 2019 TO CHANGE NAME FROM LOLT TO LLT. THE SLD INVESTMENT POLICY STATEMENT WAS UPDATED ALLOWING WELLS FARGO TO DIRECT THE INVESTMENTS USING A MODERATE RISK TOLERANCE. RECORDS STORAGE AND RETENTION POLICIES UPDATED TO REFLECT CHANGES IN CLOUD SERVER FROM EGNYTE TO MORE GENERIC "CLOUD SERVER". FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CEO/PRESIDENT AND CFO, APPROVED BY THE FINANCE COMMITTEE, AND REVIEWED BY THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CEO/PRESIDENT, BOARD CHAIR, ALONG WITH THE BOARD OF TRUSTEES REVIEW THE CONFLICT OF INTEREST STATEMENTS ON AN ANNUAL BASIS. EXECUTIVE ASSISTANT/ BOARD LIAISON MONITORS BOARD MEETINGS, COMMITTEE MEETINGS AND OPERATIONS TO IDENTIFY AND ADDRESS POTENTIAL CONFLICT ISSUES PRIOR TO MEETINGS. DURING COMMITTEE MEETINGS THE POLICY IS ENFORCED BY THE CHAIR PERSON. FORM 990, PART VI, SECTION B, LINE 15 DETERMINING SALARY FOR THE CEO/PRESIDENT WAS SUBSTANTIATED BY REVIEWING THE LTA NATIONAL SALARY SURVEY, SURVEYING LOCAL ORGANIZATIONS, AND WAS BASED ON YEARS OF EXPERIENCE AND EXPERTISE. SALARY WAS APPROVED BY THE BOARD OF TRUSTEES. 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 WRITTEN REQUEST. FORM 990, PART XI, LINE 2C THE PROCESS FOR OVERSIGHT OF THE AUDIT AND REVIEW OF THE FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PREVIOUS YEAR. WADMACON LLC 635 RUTLEDGE AVE STE 107 CHARLESTON SC 29403 HOLDS PROTECTED LAND SC 356600 LLT BACONS BRIDGE LLC 635 RUTLEDGE AVE STE 107 CHARLESTON SC 29403 TRANSFER OF LAND INCLUDED A REVERTER CLAUSE. EXISTS IN PERPETUITY. SC LLT ASHEM LLC 635 RUTLEDGE AVE STE 107 CHARLESTON SC 29403 HOLDS OPTION FOR OFFICE SITE SC 341800 LLT ANGEL OAK LLC 635 RUTLEDGE AVE STE 107 CHARLESTON SC 29403 HOLDS PROTECTED LAND SC 343000 LLT QUEMBY BARONY LLC 635 RUTLEDGE AVE STE 107 CHARLESTON SC 29403 HOLDS PROTECTED LAND SC LLT FRENCH QUARTER CREEK LLC 635 RUTLEDGE AVE STE 107 CHARLESTON SC 29403 HOLDS PROTECTED LAND SC 1381000 LLT HYDE PARK LLC 635 RUTLEDGE AVE STE 107 CHARLESTON SC 29403 HOLDS PROTECTED LAND SC 3510000 LLT