2019-03-22T15:42:24-05:00 2018-06-30 570381582 ELLIOTT DAVIS LLCPLLC 100 CALHOUN STREET SUITE 300 CHARLESTON SC 29401 990 2017-07-01 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 2019-03-20 1 BRANDON T RENAUD P00743576 8435777040 2019-03-20 76.195.93.34 2019-03-20 10:33:47 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 45EC81BECC795DEE9FCB9BBE4D1F2D11B986C060 2017 2019-02-21 02:37:17Z DAVID MAYBANK III 635 RUTLEDGE AVE NO 107 CHARLESTON SC 29403 3640785 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. 19 19 23 341 0 0 4875059 781890 144646 129372 527680 438433 60722 98008 5608107 1447703 0 0 0 0 1171245 1057797 0 0 418962 1518103 749627 2689348 1807424 2918759 -359721 21998469 22918076 6770607 7780004 15227862 15138072 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 FY18, LLT HAS PERMANENTLY PROTECTED 476 PROPERTIES ENCOMPASSING OVER 141,251 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 433837 LAND PROTECTION:DURING FY18, THE LOWCOUNTRY LAND TRUST (LLT) COMPLETED 4 NEW CONSERVATION EASEMENT PROJECTS, 1 CONSERVATION EASEMENT AMENDMENT TO ADD ACREAGE, AND 1 FEE SIMPLE ACQUISITION, FOR A TOTAL OF 797 NEWLY PROTECTED ACRES. THIS BRINGS LLT'S TOTAL PROTECTED ACREAGE TO 141,251 ACRES AS OF JUNE 30, 2018. ONE KEY PROJECT PROTECTED 106 ACRES ON JOHNS ISLAND, AN ECOLOGICALLY AND CULTURALLY SIGNIFICANT LLT FOCUS AREA WITHIN THE CHARLESTON METROPOLITAN AREA THAT IS HIGHLY THREATENED BY SPRAWL THAT CREATES TRAFFIC, INFRASTRUCTURE AND FLOODING CHALLENGES FOR THE ISLAND'S PEOPLE AND NATURAL RESOURCES. LLT ACQUIRED THE 589-ACRE HYDE PARK PLANTATION IN AUGUST OF 2017, AND DURING FY18 CREATED AND BEGAN IMPLEMENTATION OF A PLAN TO SELL THE PROPERTY 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.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 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. THE INITIATIVE ENGAGED DOZENS OF JOHNS ISLANDERS IN WORKSHOPS IDENTIFYING VALUED NATURAL RESOURCES AND TOOLS FOR BETTER EMPOWERING LANDOWNERS TO CONSERVE THEM. THE INITIATIVE CONTINUES INTO FY19 AND WILL CULMINATE IN A CONSERVATION AND IMPLEMENTATION PLAN. 463548 104802 STEWARDSHIP:IN THE 2017 CALENDAR YEAR, THE LOWCOUNTRY LAND TRUST MONITORED 100% OF ITS PROTECTED PROPERTIES (CONSERVATION EASEMENTS, DEED RESTRICTIONS AND FEE-OWNED) BY EITHER ON-THE-GROUND MONITORING OR EXTENSIVE AERIAL MONITORING. WE CONTINUED OUR HIGH STANDARD OF MEETING WITH A MAJORITY OF LANDOWNERS THROUGHOUT OUR MONITORING VISITS. DURING FY18, WE WERE ABLE TO INCREASE OUR STEWARDSHIP STAFF TO MEET OUR EXTENSIVE AND GROWING PORTFOLIO OF CONSERVED PROPERTIES, HIRING TWO ADDITIONAL STEWARDSHIP ASSOCIATES. AS A RESULT, WE IMPLEMENTED STEWARDSHIP TERRITORIES TO PROVIDE CONSISTENCY OF THE LLT REPRESENTATIVE STEWARDING EACH PROPERTY, ENGAGING WITH EACH LANDOWNER, AND ULTIMATELY ALLOWING FOR DEEPER RELATIONSHIP BUILDING WITH BOTH THE LANDOWNERS AND OTHER COMMUNITY MEMBERS WITHIN EACH TERRITORY. STEWARDSHIP STAFF ALSO CONTINUED WORKING ON THE RESTORATION/MITIGATION ACTIVITIES ON THE KEYSTONE, FRENCH QUARTER CREEK, AND MALLARD TRACT PROPERTIES.FOR THE FISCAL YEAR JULY 1, 2017 JUNE 30, 2018, NO CONSERVATION EASEMENTS WERE AMENDED OR EXTINGUISHED, WITH THE EXCEPTION OF 1 AMENDMENT TO ADD ACREAGE AS NOTED IN THE SECTION ABOVE. 164750 24570 OUTREACH/ COMMUNICATION:SOUL OF THE LOWCOUNTRY HELD ROBUST PROGRAMMING IN FY18. PROGRAMS INCLUDED: -VOLUNTEER EVENTS AT THE ANGEL OAK PRESERVE, ALGE ISLAND, AND AMBROSE FAMILY INVOLVING MIDDLE SCHOOL STUDENTS FROM THE REGION, AS WELL AS BOEING EMPLOYEE VOLUNTEERS;-BIKE TOUR OF SANTEE COASTAL RESERVE;-RICE HARVEST AND CANE SYRUP EDUCATIONAL EVENTS IN THE ACE BASIN;-TOUR D'ASHLEY -MARSH, BIKEWAY, AND BEACH CLEANUPS; -LAUNCHED SOUL (EDUCATIONAL) SESSIONS INVOLVING BUSINESS PARTNERS (EG. FLOOD TIDE CO., THE HONEY TRUST, BOOMTOWN, EDMUND'S OAST BREWING COMPANY).THE BI-ANNUAL FLOURISH BUSINESS AND CONSERVATION EVENT TOOK PLACE IN NOVEMBER OF 2017 WITH PANELISTS FROM PATAGONIA, THE HOWLER BROTHERS, LAND TRUST ALLIANCE, FLYWAY CONSTRUCTION, CLEMSON UNIVERSITY, AND LOWCOUNTRY LAND TRUST AND SPONSORED BY DUVALL EVENTS, STRIPED PIG DISTILLERY, BP COOPER RIVER, COOPER RIVER MANUFACTURERS, AND SEVERAL ADDITIONAL BUSINESS PARTNERS. COMPLETED THE DEVELOPMENT OF A COMPREHENSIVE REGIONAL PLANNING AND COMMUNITY ENGAGEMENT FEASIBILITY STUDY AND WORK PLAN ENTITLED LOWCOUNTRY PLACE PROJECT.HELD SIGNATURE DONOR EVENTS INCLUDING THE ANNUAL MEETING, ANNUAL SPRING PICNIC, FARM TO TABLE DINNER, SPORTING CLAY SHOOT, EACH INCLUDING AN OUTREACH AND/OR COMMUNICATIONS COMPONENT. PARTNERED WITH CONSERVATION VOTERS OF SC, THE CITY GALLERY, AND REPRESENTATIVES BROWN AND COGSWELL ON A PUBLIC EDUCATIONAL/Q&A SESSION ON LAND USE ISSUES AND CONSERVATION LEGISLATION JUXTAPOSED WITH A PHOTOGRAPHY EXHIBIT OF AERIAL VIEWS OF THE SC COASTLINE. 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 ANNUAL NEWSLETTERS. 1062135 1 1 0 0 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 18 0 1 23 1 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 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 R SCOTT WALLINGER AT LARGE 3.00 X 0 0 0 MR DAVID MAYBANK III BOARD CHAIR 3.00 X X 0 0 0 MR G TRENHOLM WALKER VICE CHAIR 3.00 X X 0 0 0 MR BOB BALDWIN TREASURER 3.00 X X 0 0 0 MR J STANFIELD GRAY TRUSTEE 1.00 X 0 0 0 MRS ELEANOR MOORE KUHL TRUSTEE 1.00 X 0 0 0 CAPT CHRIS CROLLEY TRUSTEE 1.00 X 0 0 0 MRS AMANDA DAVIS TRUSTEE 1.00 X 0 0 0 DR ANN G KULZE TRUSTEE 1.00 X 0 0 0 MR LINDSAY NEVIN TRUSTEE 1.00 X 0 0 0 MR THOMAS D W HUTTO SECRETARY 3.00 X X 0 0 0 MR BURNET MAYBANK III TRUSTEE 1.00 X 0 0 0 MR ROBERT DANIEL PERRY TRUSTEE 1.00 X 0 0 0 MR J CONRAD ZIMMERMAN TRUSTEE 1.00 X 0 0 0 DR WALTER BLESSING JR TRUSTEE 1.00 X 0 0 0 MR RANDELL C STONEY III TRUSTEE 1.00 X 0 0 0 MR TELFAIR PARKER TRUSTEE 1.00 X 0 0 0 MR JOSHUA B RAGLIN TRUSTEE 1.00 X 0 0 0 MR EUGENE H WALPOLE IV TRUSTEE 1.00 X 0 0 0 ASHLEY DEMOSTHENES EXECUTIVE DIRECTOR 40.00 X 125000 0 9296 125000 0 9296 1 0 0 0 0 781890 15706 781890 TRANSFER FEES 900099 104802 104802 EDUCATIONAL EVENTS 900099 24140 24140 MERCHANDISE SALES 900099 430 430 129372 245621 245621 18319 0 18319 18319 18319 2284055 85447 2173974 2716 110081 82731 192812 192812 96081 16392 79689 79689 1447703 129372 0 536441 125000 73083 19582 32335 762019 452524 118303 191192 104176 69929 15513 18734 66602 38177 10901 17524 95216 93389 1827 41283 41283 124696 73357 21825 29514 32377 18913 4694 8770 24792 2037 20960 1795 47695 27484 10059 10152 102523 64664 17858 20001 28594 18146 8076 2372 17315 17315 29969 19180 4046 6743 TAXES AND INSURANCE 68317 43723 9223 15371 TELEPHONE 25961 16615 3505 5841 INKIND GIFTS AND DONOR 18952 418 801 17733 EASEMENT 17574 17574 74363 15607 17871 40885 1807424 1062135 326327 418962 1280706 260426 116285 9644 13758453 75404 10172282 13683049 10329781 8863101 53615 56226 45800 45630 21998469 22918076 30556 53004 1000000 6740051 6727000 6770607 7780004 X 11260457 13697153 3347273 820787 620132 620132 15227862 15138072 21998469 22918076 -359721 269931 0 X X 0 1 X 1 0 X 15320099 2844924 1340843 4875059 781890 25162815 15320099 2844924 1340843 4875059 781890 25162815 6551704 18611111 264124 282039 251664 242952 263940 1304719 8641 864 41465 19830 70800 26538334 742667 0.70130 0.64290 X SCHEDULE A PART II ADDITIONAL INCOME FOR THE YEAR ENDING JUNE 30, 2018 INCLUDED: NET INCOME FROM REALIZED GAINS ON SECURITY SALES: $110,081 NET INCOME FROM FUNDRAISING EVENTS: $79,689 NET INCOME FROM REALIZED GAINS ON OTHER ASSETS: $82,731 X X X X 476 134780.00 1 1 1 10029.00 463548 1 56108 104 500 55712 56034 574 500 56108 60042 -3508 500 56034 69794 -6014 3738 60042 66649 3145 69794 1.00000 0 0 13648852 13648852 10839 1606 9233 98762 73798 24964 13683049 LAND CONTRIBUTION PAYABLE 6727000 6727000 X 1729751 269931 37008 16392 323331 1406420 41283 41283 1447703 1819541 37008 16392 53400 1766141 41283 41283 1807424 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, 2018 AND 2017, THE TITLE TO 4,922 AND 4,333 ACRES OF LAND, RESPECTIVELY, 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, 2018 AND 2017, CONSERVATION EASEMENTS HAD BEEN GRANTED TO THE TRUST ON 132,644 AND 132,436 ACRES, RESPECTIVELY." 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 PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES PART XII AND XIII, LINE 2D OTHER RECONCILING ITEMS CONSIST OF FUNDRAISING EXPENSES IN THE AMOUNT OF $16,392 THAT HAVE BEEN NETTED AGAINST EVENT REVENUE ON PAGE 9, PART VIII. X 0 CLAY SHOOT 33096 33096 6987 FLOURISH 26100 26100 2141 4 36885 36885 7264 96081 96081 16392 16392 79689 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 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 LOWCOUNTRY OPEN LAND TRUST LLC 635 RUTLEDGE AVE STE 107 CHARLESTON SC 29403 HOLDS PROTECTED LAND SC LLT HYDE PARK LLC 635 RUTLEDGE AVE STE 107 CHARLESTON SC 29403 HOLDS PROTECTED LAND SC 3510000 LLT