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      <Desc>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 1,900 PARCELS OF LAND IMPORTANT TO VERMONTERS. VLT HAS PERMANENTLY CONSERVED MORE THAN 590,000 ACRES. THIS LAND INCLUDES MORE THAN 900 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.</Desc>
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        <Desc>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.</Desc>
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      <Form990PartVIISectionAGrp>
        <PersonNm>DAVID MIDDLETON</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>PIETER BOHEN</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>MARIA YOUNG</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>GILBERT LIVINGSTON</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>ELISE ANNES</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>MICHELLE CONNOR</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>NICK RICHARDSON</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>SIOBHAN SMITH</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <FeesForServicesAccountingGrp>
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        <EOYAmt>928000</EOYAmt>
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        <EOYAmt>14163111</EOYAmt>
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        <EOYAmt>46406619</EOYAmt>
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      <GrassrootsCeilingAmt>1232675</GrassrootsCeilingAmt>
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      <PreservationPublicUseInd>X</PreservationPublicUseInd>
      <ProtectionNaturalHabitatInd>X</ProtectionNaturalHabitatInd>
      <PreservationOpenSpaceInd>X</PreservationOpenSpaceInd>
      <TotalEasementsCnt>2161</TotalEasementsCnt>
      <TotalAcreageCnt>483120.00</TotalAcreageCnt>
      <HistoricStructureEasementsCnt>1</HistoricStructureEasementsCnt>
      <ModifiedEasementsCnt>6</ModifiedEasementsCnt>
      <StatesEasementsHeldCnt>1</StatesEasementsHeldCnt>
      <WrittenPolicyMonitoringInd>1</WrittenPolicyMonitoringInd>
      <StaffHoursSpentEnforcementCnt>6579.00</StaffHoursSpentEnforcementCnt>
      <ExpensesIncurredEnforcementAmt>250393</ExpensesIncurredEnforcementAmt>
      <Section170hRqrStsfdInd>1</Section170hRqrStsfdInd>
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>19515143</BeginningYearBalanceAmt>
        <ContributionsAmt>1803446</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>1715187</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>3182981</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>189038</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>19661757</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>17651411</BeginningYearBalanceAmt>
        <ContributionsAmt>2814765</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>2369414</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>3156596</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>163851</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>19515143</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>20338554</BeginningYearBalanceAmt>
        <ContributionsAmt>1409127</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>-189113</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>3753440</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>153717</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>17651411</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>21550798</BeginningYearBalanceAmt>
        <ContributionsAmt>1587873</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>683671</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>3315653</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>168135</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>20338554</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>20682135</BeginningYearBalanceAmt>
        <ContributionsAmt>3323191</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>3020999</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>5348249</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>127278</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>21550798</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <BoardDesignatedBalanceEOYPct>0.37510</BoardDesignatedBalanceEOYPct>
      <PrmnntEndowmentBalanceEOYPct>0.55220</PrmnntEndowmentBalanceEOYPct>
      <TermEndowmentBalanceEOYPct>0.07270</TermEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>1</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
        <InvestmentCostOrOtherBasisAmt>15478073</InvestmentCostOrOtherBasisAmt>
        <OtherCostOrOtherBasisAmt>833776</OtherCostOrOtherBasisAmt>
        <BookValueAmt>16311849</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>3654442</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>978524</DepreciationAmt>
        <BookValueAmt>2675918</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>731106</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>602478</DepreciationAmt>
        <BookValueAmt>128628</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <InvestmentCostOrOtherBasisAmt>35526</InvestmentCostOrOtherBasisAmt>
        <OtherCostOrOtherBasisAmt>150541</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>160301</DepreciationAmt>
        <BookValueAmt>25766</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>19142161</TotalBookValueLandBuildingsAmt>
      <InvstProgramRelatedOrgGrp>
        <Desc>TIMBERLAND INVESTMENTS NET OF A/D</Desc>
        <BookValueAmt>1652215</BookValueAmt>
        <MethodValuationCd>C</MethodValuationCd>
      </InvstProgramRelatedOrgGrp>
      <InvstProgramRelatedOrgGrp>
        <Desc>DEVELOPMENT RIGHTS, TRANSFERABLE</Desc>
        <BookValueAmt>835000</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
      </InvstProgramRelatedOrgGrp>
      <InvstProgramRelatedOrgGrp>
        <Desc>YANKEE FARM CREDIT</Desc>
        <BookValueAmt>1000</BookValueAmt>
        <MethodValuationCd>C</MethodValuationCd>
      </InvstProgramRelatedOrgGrp>
      <TotalBookValueProgramRltdAmt>2488215</TotalBookValueProgramRltdAmt>
      <OtherAssetsOrgGrp>
        <Desc>CHARITABLE REMAINDER TRUSTS</Desc>
        <BookValueAmt>1077649</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>TIMBER</Desc>
        <BookValueAmt>-40769</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>BENEFICIAL INTEREST IN NET ASSETS HELD BY VERMONT COMMUNITY FOUNDATION</Desc>
        <BookValueAmt>13126231</BookValueAmt>
      </OtherAssetsOrgGrp>
      <TotalBookValueOtherAssetsAmt>14163111</TotalBookValueOtherAssetsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>DEFERRED CHARITABLE ANNUITIES</Desc>
        <Amt>1585913</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>DEFERRED OPTION PAYMENTS</Desc>
        <Amt>225000</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>1810913</TotalLiabilityAmt>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>15796906</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>-172431</NetUnrealizedGainsInvstAmt>
      <OtherRevenueAmt>946319</OtherRevenueAmt>
      <RevenueNotReportedAmt>773888</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>15023018</RevenueSubtotalAmt>
      <RevenueNotReportedFinclStmtAmt>0</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>15023018</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>15650853</TotExpnsEtcAuditedFinclStmtAmt>
      <OtherExpensesIncludedAmt>946320</OtherExpensesIncludedAmt>
      <ExpensesNotReportedAmt>946320</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>14704533</ExpensesSubtotalAmt>
      <ExpensesNotRptFinclStmtAmt>0</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>14704533</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART II, LINE 3:</FormAndLineReferenceDesc>
        <ExplanationTxt>BATHALON FARM, TROY &amp; WESTFIELD, VT, JUNE 9, 2017 - THE PURPOSES OF THE BATHALON 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 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 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. VHCB AND THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION TO ENHANCE THE RESTRICTIONS ON THE BATHALON FARM. MILE ROUND WOODS, NORTH BENNINGTON, VT, DECEMBER 28, 2016 - FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING 4.786 ACRES OF PREVIOUSLY UNPROTECTED LAND TO THE EASEMENT. THE ADDITIONAL RESTRICTIONS WERE DONATED TO THE VERMONT LAND TRUST (VLT). VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT. THE VLT BOARD OF TRUSTEES APPROVED THIS MODIFICATION. HUESTIS J&amp;A, BRIDPORT, VT, OCTOBER 4, 2016 - THIS CORRECTIVE AMENDMENT FIXED AN ERROR IN THE SCHEDULE A LEGAL DESCRIPTION WHICH INADVERTENTLY OMITTED A REFERENCE TO AN EXCLUDED PIECE OF PROPERTY. THE CORRECTION WAS APPROVED BY THE BOARD OF TRUSTEES OF VLT, THE VERMONT HOUSING AND CONSERVATION BOARD AND THE VERMONT AGENCY OF AGRICULTURE, FOOD AND MARKETS, THE TWO OTHER CO-HOLDERS OF THE EASEMENT, AND THE UNITED STATES OF AMERICA. MCINSTOSH K&amp;M, TINMOUTH, VT, 12/24/2016 - FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING 10 ACRES OF PREVIOUSLY UNPROTECTED LAND TO THE EASEMENT. THE ADDITIONAL RESTRICTIONS WERE DONATED TO VLT AND THE VERMONT DEPARTMENT OF FORESTS PARKS AND RECREATION (FPR), THE CO-HOLDERS OF THE EASEMENT. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT ASSOCIATED WITH THE EASEMENT MODIFICATION. FPR AND VLT'S BOARD OF TRUSTEES APPROVED THE MODIFICATION. BURGIN, BRIDGEWATER, VT, MAY 22, 2017 - FURTHERED THE CONSERVATION PURPOSES OF THE EASEMENT BY ADDING 58 ACRES OF PREVIOUSLY UNPROTECTED LAND TO THE EASEMENT AND INCLUDING SPECIAL PROTECTIONS FOR BAT HABITAT ON THE ORIGINAL PROTECTED PROPERTY. THE ADDITIONAL RESTRICTIONS WERE DONATED TO VLT. VLT AND THE LANDOWNER SIGNED AN UPDATED BASELINE DOCUMENTATION REPORT ASSOCIATED WITH THE EASEMENT MODIFICATION. VLT'S BOARD OF TRUSTEES APPROVED THE MODIFICATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART II, LINE 9:</FormAndLineReferenceDesc>
        <ExplanationTxt>EASEMENTS ACQUIRED BY THE TRUST ARE PERPETUAL CONSERVATION EASEMENTS, EACH OF WHICH CONTAINS NUMEROUS RESTRICTIONS OVER THE USE AND DEVELOPMENT OF LAND NOT OWNED BY THE TRUST. SINCE THESE EASEMENTS HAVE NO MARKETABLE VALUE AND BECAUSE THE OBLIGATION TO MONITOR AND ENFORCE EASEMENTS CONSTITUTE PERMANENT ORGANIZATIONAL LIABILITIES, 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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>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</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>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 ADOPTED THE ACCOUNTING METHODS UNDER FASB ASC SECTION 740-10 FOR UNCERTAIN TAX POSITIONS (UTP) ON JULY 1, 2009. THE UTP RULES PRESCRIBE A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN IN AN ORGANIZATION'S TAX RETURN. THE TRUST BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT MIGHT RESULT IN A MATERIAL IMPACT ON THE TRUST'S STATEMENTS OF FINANCIAL POSITION, ACTIVITIES AND CHANGES IN NET ASSETS AND CASH FLOWS. THE TRUST'S FEDERAL TAX RETURNS ARE OPEN FOR EXAMINATION FOR THE FISCAL YEARS JUNE 30, 2014 THROUGH JUNE 30, 2017.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>COST OF TIMBER HARVEST EXPENSE AND DEPLETION COST OF LAND SOLD</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>COST OF TIMBER HARVEST EXPENSE AND DEPLETION COST OF LAND SOLD</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>TOWN OF BRATTLEBORO</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>230 MAIN STREET</AddressLine1Txt>
          <CityNm>BRATTLEBORO</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05301</ZIPCd>
        </USAddress>
        <RecipientEIN>036000393</RecipientEIN>
        <IRCSectionDesc>501(C)3</IRCSectionDesc>
        <CashGrantAmt>25000</CashGrantAmt>
        <PurposeOfGrantTxt>SKATE PARK</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>POULTNEY METTOWEE CONSERVANTION DISTRICT</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>PO BOX 209</AddressLine1Txt>
          <CityNm>POULTNEY</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05764</ZIPCd>
        </USAddress>
        <RecipientEIN>030282055</RecipientEIN>
        <IRCSectionDesc>501(C)3</IRCSectionDesc>
        <CashGrantAmt>40000</CashGrantAmt>
        <PurposeOfGrantTxt>PURCHASE OF TRUCK TO TRANSPORT FARM EQUIPMENT</PurposeOfGrantTxt>
      </RecipientTable>
      <Total501c3OrgCnt>2</Total501c3OrgCnt>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>FARM ECONOMIC DEVELOPMENT</GrantTypeTxt>
        <RecipientCnt>2</RecipientCnt>
        <CashGrantAmt>33000</CashGrantAmt>
      </GrantsOtherAsstToIndivInUSGrp>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>FARM A WATER QUALITY IMPROVEMENT</GrantTypeTxt>
        <RecipientCnt>1</RecipientCnt>
        <CashGrantAmt>11311</CashGrantAmt>
      </GrantsOtherAsstToIndivInUSGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="RetDoc1042400001">
      <CompensationCommitteeInd>X</CompensationCommitteeInd>
      <IndependentConsultantInd>X</IndependentConsultantInd>
      <CompensationSurveyInd>X</CompensationSurveyInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>0</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>0</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>0</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>0</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>0</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>GILBERT LIVINGSTON</PersonNm>
        <TitleTxt>PRESIDENT (THRU 12/17)</TitleTxt>
        <BaseCompensationFilingOrgAmt>131874</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>119</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>3844</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>21025</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>156862</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
    <IRS990ScheduleM documentId="RetDoc1042900001">
      <SecuritiesPubliclyTradedGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>29</ContributionCnt>
        <NoncashContributionsRptF990Amt>229930</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>FAIR MARKET VALUE</MethodOfDeterminingRevenuesTxt>
      </SecuritiesPubliclyTradedGrp>
      <QualifiedContribOtherGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>11</ContributionCnt>
        <NoncashContributionsRptF990Amt>0</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>ZERO VALUE</MethodOfDeterminingRevenuesTxt>
      </QualifiedContribOtherGrp>
      <RealEstateOtherGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>1</ContributionCnt>
        <NoncashContributionsRptF990Amt>96000</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>FAIR MARKET VALUE</MethodOfDeterminingRevenuesTxt>
      </RealEstateOtherGrp>
      <Form8283ReceivedCnt>13</Form8283ReceivedCnt>
      <AnyPropertyThatMustBeHeldInd>0</AnyPropertyThatMustBeHeldInd>
      <ReviewProcessUnusualNCGiftsInd>1</ReviewProcessUnusualNCGiftsInd>
      <ThirdPartiesUsedInd>1</ThirdPartiesUsedInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 32B:</FormAndLineReferenceDesc>
        <ExplanationTxt>VERMONT LAND TRUST USES REALTORS TO SELL REAL ESTATE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 33:</FormAndLineReferenceDesc>
        <ExplanationTxt>VERMONT LAND TRUST DOES NOT RECORD AS REVENUE DONATIONS OF CONSERVATION EASEMENTS BECAUSE THEY HAVE NO MARKETABLE VALUE.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE VERMONT LAND TRUST IS A MEMBERSHIP ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE VERMONT LAND TRUST IS A MEMBERSHIP ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7B</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>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.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
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      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>BREWSTER UPLANDS CONSERVATION TRUST LLC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>8 BAILEY AVENUE</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05602</ZIPCd>
        </USAddress>
        <EIN>273840843</EIN>
        <PrimaryActivitiesTxt>MANAGE A 1,000+ ACRES FOR PUBLIC ACCESS RECREATION AND EDUCATIONAL PURPOSES</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>VT</LegalDomicileStateCd>
        <TotalIncomeAmt>324940</TotalIncomeAmt>
        <EndOfYearAssetsAmt>1552690</EndOfYearAssetsAmt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>VERMONT LAND TRUST INC</BusinessNameLine1Txt>
        </DirectControllingEntityName>
      </IdDisregardedEntitiesGrp>
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>VLTBTV PARKLAND LLC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>8 BAILEY AVENUE</AddressLine1Txt>
          <CityNm>MONTPELIER</CityNm>
          <StateAbbreviationCd>VT</StateAbbreviationCd>
          <ZIPCd>05602</ZIPCd>
        </USAddress>
        <EIN>811187293</EIN>
        <PrimaryActivitiesTxt>OWN AND MANAGE 12 ACRES OF LAND IN BURLINGTON FOR PUBLIC PARKLAND.</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>VT</LegalDomicileStateCd>
        <TotalIncomeAmt>0</TotalIncomeAmt>
        <EndOfYearAssetsAmt>1500000</EndOfYearAssetsAmt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>VERMONT LAND TRUST INC</BusinessNameLine1Txt>
        </DirectControllingEntityName>
      </IdDisregardedEntitiesGrp>
    </IRS990ScheduleR>
  </ReturnData>
</Return>