2017-10-09T12:07:10-05:00 2016-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2016-01-01 521053406 OPEN SPACE INSTITUTE INC OPEN 2122908200 1350 BROADWAY NO 201 NEW YORK NY 100187799 RACHEL PIVNICK SVP & CFO 2122908200 2017-10-09 1 ROBERT LYONS P00227472 2125038800 69.74.165.34 2017-10-09 11:53:17 ED P 1423E06F9E6F9EFDA19AB3AABD1FE32D0EF26F97 B8E8917F0931719FE7A109CCAA1C726E9AF7A481 2016 2021-01-29 14:40:06Z CHRISTOPHER J ELLIMAN 1350 BROADWAY NO 201 NEW YORK NY 100187799 1122275 0 X WWW.OSINY.ORG X 1974 NY OPEN SPACE INSTITUTE AND ITS SUPPORTING ORGANIZATION, OPEN SPACE INSTITUTE LAND TRUST, PROTECT SCENIC, NATURAL AND HISTORIC LANDSCAPES. 28 27 62 28 0 0 811877 828856 186285 231294 1074 -117 43058 37364 1042294 1097397 469898 307261 0 0 154490 280904 0 0 74351 548461 517049 1172849 1105214 -130555 -7817 5828397 5939594 2090647 2109341 3737750 3830253 OPEN SPACE INSTITUTE PROTECTS SCENIC, NATURAL AND HISTORIC LANDSCAPES TO ENSURE PUBLIC ENJOYMENT, CONSERVE HABITATS AND SUSTAIN COMMUNITY CHARACTER. 0 0 523456 270159 58456 THE ORGANIZATION HAS A FISCAL SPONSORSHIP PROGRAM, CITIZEN ACTION, WHICH SUPPORTS LOCAL COMMUNITY GROUPS WORKING TO PROTECT NATURAL HABITATS, MAKE CITIES MORE LIVABLE, ENHANCE LOCAL COMMUNITIES, PROVIDE ENVIRONMENTAL EDUCATION AND CONNECT PEOPLE WITH THE LAND. THROUGH THE ORGANIZATION'S BOARD OF TRUSTEES, STAFF AND CONSULTANTS, CITIZEN ACTION ALSO PROVIDES TECHNICAL, LEGAL AND ADMINISTRATIVE ASSISTANCE TO COMMUNITY GROUPS PARTICIPATING IN THE PROGRAM. 38110 32000 THE ORGANIZATION HAS AN ENVIRONMENTAL EDUCATION PROGRAM WHICH INCLUDES BOTH THE MALCOLM GORDON CHARITABLE FUND WHICH MAKES GRANTS TO LOCAL ORGANIZATIONS FOR ENVIRONMENTAL EDUCATION PROGRAMS AND THE BARNABAS MCHENRY HUDSON RIVER VALLEY AWARDS PROGRAM WHICH ANNUALLY GRANTS FUNDS TO THE PAIRINGS OF YOUNG LEADERS AND EXEMPLARY PROJECTS THAT MAKE SIGNIFICANT CONTRIBUTIONS IN ENVIRONMENTAL CONSERVATION, HISTORIC PRESERVATION, TOURISM, AND THE ARTS IN THE HUDSON RIVER VALLEY. THE ORGANIZATION THROUGH ITS SUPPORTING ORGANIZATION, OPEN SPACE INSTITUTE LAND TRUST ("OSILT"), BUYS LAND AND EASEMENTS TO PROTECT SCENIC, HISTORICAL, RECREATIONAL AND AGRICULTURAL LANDSCAPES. IN ADDITION, OSILT ALSO PROVIDES GRANTS AND LOANS PRIMARILY TO OTHER LAND TRUSTS TO PROTECT DIVERSE LANDSCAPES THAT INCLUDE PARKS AND PRESERVES AS WELL AS WORKING FARMS AND FORESTS IN THE EASTERN UNITED STATES. THIS PROGRAM SEEKS TO ENSURE WATERSHED PROTECTION AND IMPROVE CLIMATE RESILIENCE. IN 2016, OSILT PROTECTED MORE THAN 23,000 ACRES HAVING A FAIR MARKET VALUE OF $28.7 MILLION. IN ADDITION, OSILT MADE 28 GRANTS TOTALING $5.9 MILLION, RESULTING IN THE PROTECTION OF MORE THAN 47,000 ACRES OF LAND IN SEVEN STATES AND PROVINCES WITH A FAIR MARKET BALUE OF $47 MILLION. 145839 5102 172838 145839 5102 172838 707405 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 104 0 62 1 0 0 0 0 0 1 1 0 0 0 0 X 28 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY CA CT GA MA ME NC NH NJ PA SC TN WA X JOSEPH HOLLAND 2122908200 1350 BROADWAY SUITE 201 NEW YORK NY 100187799 X JOHN H ADAMS CHAIRMAN 3.00 3.00 X X 0 0 0 AMELIA SALZMAN CO-CHAIR 3.00 3.00 X X 0 0 0 CAROLINE NIEMCZYK VICE CHAIR 1.00 1.00 X X 0 0 0 T JEFFERSON CUNNINGHAM III TREASURER 3.00 3.00 X X 0 0 0 EDWARD A AMES BOARD MEMBER 1.00 1.00 X 0 0 0 CAROL ASH BOARD MEMBER 2.00 2.00 X 0 0 0 SUSAN BABCOCK BOARD MEMBER 1.00 1.00 X 0 0 0 DOUGLAS BATESON BOARD MEMBER 1.00 1.00 X 0 0 0 PETER A BIENSTOCK BOARD MEMBER 3.00 3.00 X 0 0 0 ELIZABETH BORDEN BOARD MEMBER 1.00 1.00 X 0 0 0 DALE S BRYK BOARD MEMBER 1.00 1.00 X 0 0 0 GILMAN S BURKE BOARD MEMBER 1.00 1.00 X 0 0 0 JOHN CAHILL BOARD MEMBER 2.00 2.00 X 0 0 0 STEPHEN J CLEARMAN BOARD MEMBER 1.00 1.00 X 0 0 0 LEA PANE HIGHET BOARD MEMBER 1.00 1.00 X 0 0 0 PAUL J ELSTON BOARD MEMBER 1.00 1.00 X 0 0 0 JOHN ERNST BOARD MEMBER 1.00 1.00 X 0 0 0 JOSHUA GINSBERG BOARD MEMBER 1.00 1.00 X 0 0 0 HOLLY HEGENER BOARD MEMBER 1.00 1.00 X 0 0 0 SAMUEL G HUBER BOARD MEMBER 1.00 1.00 X 0 0 0 SAMUEL W LAMBERT III BOARD MEMBER 1.00 1.00 X 0 0 0 YUKI MOORE LAURENTI BOARD MEMBER 1.00 1.00 X 0 0 0 W BARNABAS MCHENRY BOARD MEMBER 1.00 1.00 X 0 0 0 KATHERINE O ROBERTS BOARD MEMBER 1.00 1.00 X 0 0 0 ELIZABETH SMITH BOARD MEMBER 1.00 1.00 X 0 0 0 HUME R STEYER SECRETARY 1.00 1.00 X X 0 0 0 PATRICIA F SULLIVAN BOARD MEMBER 1.00 1.00 X 0 0 0 THOMAS WRIGHT BOARD MEMBER 1.00 1.00 X 0 0 0 J MATTHEW DAVIDSON BOARD MEMBER (RESIGNED 5/13/16) 1.00 1.00 X 0 0 0 CHRISTOPHER ELLIMAN PRESIDENT & CEO 0.20 34.80 X 1035 449715 63242 PETER HOWELL EXECUTIVE VP, CONSERVATION 1.50 33.50 X 0 240988 37055 ROBERT K ANDERBERG SVP & GENERAL COUNSEL 2.70 32.30 X 5980 211504 37720 ALICE GLEASON SVP SVP & CFO (RESIGNED 06/15/16) 7.00 28.00 X 0 111769 19012 JOSEPH HOLLAND ASST. TREASURER & CONTROLLER 0.60 34.40 X 0 119394 11875 SAMAYLA DEUTCH SVP & GENERAL COUNSEL 0.20 34.80 X 401 195529 35564 TALLY BLUMBERG SVP FOR PROGRAMS 2.70 32.30 X 9883 211798 45969 ERIK KULLESEID SVP, NYS PARKS 1.00 35.00 X 0 197328 44009 TERRENCE NOLAN SVP, CONSERVATION TRANSACTIONS 1.00 35.00 X 0 199008 46348 JENNIFER MELVILLE VP, CONSERVATION GRANTS & LOANS 0.30 34.70 X 0 116969 32305 NATE BERRY VICE PRESIDENT 1.00 35.00 X 0 155000 40377 RACHEL PIVNICK SVP & CFO 1.00 35.00 X 0 53788 6961 LORIJEANE MOODY DIRECTOR, DEVELOPMENT 2.45 32.55 X 0 125667 13876 17299 2388457 434313 13 0 1 0 0 142235 24896 661725 20153 828856 ADMISSION FEES 900099 195043 195043 MANAGEMENT FEES 900099 23335 23335 SERVICE INCOME 900099 12916 12916 231294 861 861 37364 0 37364 37364 37364 978 -978 -978 -978 23900 142235 23900 0 1097397 231294 0 37247 X 307261 307261 20604 20604 203305 108322 94983 12862 6208 6654 24016 11897 12119 20117 13821 6296 194083 60359 133219 505 75413 42874 6729 25810 167727 116890 2801 48036 54864 54864 5135 5135 MISCELLANEOUS 14610 13952 658 PROPERTY MAINTENANCE 5217 5217 1105214 707405 323458 74351 639 664 3217636 3255768 3060 2279 469898 520576 2492962 2136451 411373 356511 1725791 1803796 5828397 5939594 1003599 1064891 1087048 1044450 2090647 2109341 X 1537917 1590663 2199833 2239590 3737750 3830253 5828397 5939594 -7817 100320 0 X X 0 1 X 1 0 X 4006255 4458958 1851500 811877 828870 11957460 4006255 4458958 1851500 811877 828870 11957460 11957460 96771 90777 43063 44214 38225 313050 16413 59082 82483 157978 12428488 885329 0.96210 0.97740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 121538 173719 295257 1081880 28903098 1081880 29198355 183188 1000000 45797 250000 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 295769 311195 352575 295257 1254796 250000 250000 250000 250000 1000000 1500000 171046 117937 193248 121538 603769 151613634 8437190 7623237 152427587 161209214 -1665319 7930261 151613634 164204032 4533638 7528456 161209214 155092616 21719924 12608508 164204032 141803316 21817706 8528406 155092616 1.00000 0 1 1 2203702 1864933 338769 106772 91032 15740 182488 180486 2002 356511 DEFERRED RENT 696094 DEFERRED COMPENSATION PAYABLE 338935 SECURITY DEPOSITS PAYABLE 4025 GRANTS PAYABLE 5396 1044450 X PART V, LINE 4: THE WALLACE ENDOWMENT IS HELD BY OPEN SPACE INSTITUTE LAND TRUST, INC., A SUPPORTING ORGANIZATION OF OSI. THE ENDOWMENT IS USED PRIMARILY FOR THE PURPOSE OF ACQUIRING AND/OR HOLDING LAND IN THE HUDSON RIVER VALLEY, CATSKILLS AND ADIRONDACKS IN ORDER TO PRESERVE AND PROTECT SUCH LAND FOR THE BENEFIT OF THE PUBLIC, AND SECONDARILY FOR OTHER PURPOSES THAT ARE IN FURTHERANCE OF THE CONSERVATION OF THE SCENIC BEAUTY, HISTORIC VALUES AND RESOURCES OF THE REGIONS. THE MALCOLM GORDON CHARITABLE ENDOWMENT FUNDS ARE CLASSIFIED AS TEMPORARILY RESTRICTED BECAUSE THE GRANTOR REQUIRED THAT THE FUNDS BE DEVOTED TO ENVIRONMENTAL EDUCATION. PART X, LINE 2: THE ORGANIZATION BELIEVES IT HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2016 AND 2015 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. ANNUAL LUNCH 166135 142235 23900 23900 166135 142235 23900 23900 23900 0 1 GERMANTOWN PARK COMMISSION INC 50 PALATINE PARK RD GERMANTOWN NY 12526 455337481 501(C)(3) 10686 N/A N/A CITIZEN ACTION PROGRAM HUDSON RIVER SLOOP CLEARWATER INC 724 WOLCOTT AVENUE BEACON NY 12508 146049022 501(C)(3) 6000 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARDS HARBORLAB 53-21 VERNON BLVD LONG ISLAND CITY NY 11101 800853728 501(C)(3) 10862 N/A N/A CITIZEN ACTION PROGRAM THE HAVEN AT SKANDA 4000 MOSLEY RD CAZENOVIA NY 13035 474777339 501(C)(3) 7000 N/A N/A CITIZEN ACTION PROGRAM HUDSON HIGHLANDS LAND TRUST 20 NAZARETH WAY GARRISON NY 10524 133528266 501(C)(3) 6000 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARDS PRATTSVILLE ART CENTER AND RESIDENCY 14562 MAIN STREET PRATTSVILLE NY 12468 463477275 501(C)(3) 6000 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARDS RPGA STUDIO INC 43-01 22ND ST SUITE 205 LONG ISLAND CITY NY 11101 472589237 501(C)(3) 20645 N/A N/A CITIZEN ACTION PROGRAM CITIZEN CLIMATE COST PROJECT LTD 16192 COASTAL HWY LEWES DE 19958 474444404 501(C)(3) 37600 N/A N/A CITIZEN ACTION PROGRAM ESSEX FARM INSTITUTE PO BOX 33 ESSEX NY 12936 471368012 501(C)(3) 53853 N/A N/A CITIZEN ACTION PROGRAM STORM KING ART CENTER 1 MUSEUM ROAD NEW WINDSOR NY 12553 141457573 501(C)(3) 8000 N/A N/A MALCOLM GORDON CHARITABLE FUND LONG ISLAND COMMUNITY AGRICULTURE NETWORK 47 FOXHURST ROAD SOUTH HUNTINGTON NY 11746 112687442 501(C)(3) 24000 N/A N/A CITIZEN ACTION PROGRAM THE BEACON INSTITUTE 199 MAIN ST BEACON NY 12508 141883215 501(C)(3) 6000 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARDS RONDOUT VALLEY GROWERS ASSOCIATION PO BOX 867 STONE RIDGE NY 12484 472217833 501(C)(3) 70315 N/A N/A CITIZEN ACTION PROGRAM SPROUT FARMS 421 S 5TH STREET BROOKLYN NY 11211 475051675 501(C)(3) 21746 N/A N/A CITIZEN ACTION PROGRAM LAND TRUST ALLIANCE 112 SPRING STREET SUITE 204 SARATOGA SPRINGS NY 12866 042751357 501(C)(3) 5101 N/A N/A ORGANIZING AND HOSTING NYS LAND CONSERVATION SUMMIT CARY INSTITUTE OF ECOSYSTEM STUDIES INC 2801 SHARON TURNPIKE MILBROOK NY 12545 223232968 501(C)(3) 375 N/A N/A CITIZEN ACTION PROGRAM DUTCHESS LAND CONSERVANCY PO BOX 138 MILBROOK NY 12545 141667526 501(C)(3) 2877 N/A N/A CITIZEN ACTION PROGRAM FABSCRAP INC 184-10 JAMAICA AVENUE 4TH FL JAMAICA NY 11423 813795981 501(C)(3) 1500 N/A N/A CITIZEN ACTION PROGRAM FJC A FOUNDATION OF PHILANTHROPIC FUNDS 520 EIGHTH AVENUE 20TH FL NEW YORK NY 10018 133848582 501(C)(3) 1156 N/A N/A CITIZEN ACTION PROGRAM FRIENDS OF THE SHAWANGUNKS INC PO BOX 270 ACCORD NY 12404 223332690 501(C)(3) 268 N/A N/A CITIZEN ACTION PROGRAM HOUSATONIC VALLEY ASSOCIATION 150 KENT RD S CORNWALL BRIDGE CT 06754 066049295 501(C)(3) 4877 N/A N/A CITIZEN ACTION PROGRAM SMITHSONIAN CRAFT SHOW 1000 JEFFERSON DRIVE SW WASHINGTON DC DC 20560 530206027 501(C)(3) 1000 N/A N/A CITIZEN ACTION PROGRAM STEWART PARK AND RESERVE INC PO BOX 90 BLOOMING GROVE NY 10914 501(C)(3) 1400 N/A N/A CITIZEN ACTION PROGRAM 14 PART I, LINE 2: GRANTEES EXECUTE A WRITTEN AGREEMENT WHICH REQUIRES THEM TO SUBMIT WRITTEN REPORTS TO OSI FOR THE PERIOD OF THE AGREEMENT. X X X X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER ELLIMAN PRESIDENT & CEO 1035 449715 0 0 0 0 80 34920 65 28177 1180 512812 0 0 PETER HOWELL EXECUTIVE VP, CONSERVATION 0 240988 0 0 0 0 0 19279 0 17776 0 278043 0 0 ROBERT K ANDERBERG SVP & GENERAL COUNSEL 5980 211504 0 0 0 0 478 16920 559 19763 7017 248187 0 0 SAMAYLA DEUTCH SVP & GENERAL COUNSEL 401 195529 0 0 0 0 32 15642 41 19849 474 231020 0 0 TALLY BLUMBERG SVP FOR PROGRAMS 9883 211798 0 0 0 0 791 16944 1259 26975 11933 255717 0 0 ERIK KULLESEID SVP, NYS PARKS 0 197328 0 0 0 0 0 15786 0 28223 0 241337 0 0 TERRENCE NOLAN SVP, CONSERVATION TRANSACTIONS 0 199008 0 0 0 0 0 15921 0 30427 0 245356 0 0 NATE BERRY VICE PRESIDENT 0 155000 0 0 0 0 0 12400 0 27977 0 195377 0 0 STEPHEN CLEARMAN SEE PART V 37095 SEE PART V 0 HUME STEYER SEE PART V 0 SEE PART V 0 CHRISTOPHER ELLIMAN SEE PART V 0 SEE PART V 0 THOMAS WRIGHT SEE PART V 41065 SEE PART V 0 GILBERT BUTLER SEE PART V 0 SEE PART V 0 SCHEDULE L, PART IV: STEPHEN CLEARMAN IS A TRUSTEE OF BOTH OSI AND OSILT. MR. CLEARMAN IS ALSO A MANAGING PARTNER OF KINDERHOOK, LP, IN WHICH OSILT HAS INVESTED. MANAGEMENT FEES PAID BY OSILT TO KINDERHOOK, LP DURING THE TAXABLE YEAR ENDING 12/31/16 TOTALED $37,095. IN ACCORDANCE WITH OSI'S CONFLICTS OF INTEREST POLICY, MR. CLEARMAN RECUSES HIMSELF FROM ANY DECISION REGARDING THE OSILT INVESTMENT IN KINDERHOOK, LP. IN ADDITION, AS OF THE END OF 2015, OSILT WITHDREW FROM KINDERHOOK, L.P. ALTHOUGH ADDITIONAL DISTRIBUTIONS OCCURRED IN THE 2016 CALENDAR YEAR.HUME STEYER IS A TRUSTEE OF BOTH OSI AND OSILT. MR. STEYER AND THE LAW FIRM WHERE HE IS A PARTNER REPRESENT SEVERAL HEDGE FUNDS THAT ARE OSILT INVESTMENTS. MR. STEYER ALSO REPRESENTS MEMBERS OF A FAMILY WHO SOLD LAND TO OSILT. IN ACCORDANCE WITH OSI'S CONFLICTS OF INTEREST POLICY, MR. STEYER RECUSES HIMSELF FROM ANY DECISION REGARDING THE INVESTMENT IN SUCH HEDGE FUNDS AND PURCHASE OF SUCH LANDS.IN 2015, THE BOARD OF TRUSTEES OF OSILT AUTHORIZED THE ACQUISITION OF A CONSERVATION EASEMENT PROTECTING THE 3,777-ACRE BLACK ROCK FOREST PRESERVE IN ORANGE COUNTY, NEW YORK WHICH OPENED UP 23 MILES OF RECREATIONAL TRAILS ON THE PRESERVE FOR PERMANENT PUBLIC USE. CHRISTOPHER J. ELLIMAN, PRESIDENT AND CEO OF OSI AND OSILT, IS ALSO A VOLUNTEER TRUSTEE OF THE BLACK ROCK FOREST PRESERVE, A CHARITABLE ORGANIZATION THAT IS ENGAGED IN CONSERVATION AND SCIENTIFIC RESEARCH. SUBSEQUENTLY IN 2016, OSILT ACQUIRED THE CONSERVATION EASEMENT AND DONATED IT TO THE NEW YORK STATE OFFICE OF PARKS, RECREATION AND HISTORIC PRESERVATION. IN ACCORDANCE WITH OSI'S CONFLICTS OF INTEREST POLICY, MR. ELLIMAN DISCLOSED TO THE BOARD HIS CONFLICT OF INTEREST AND RECUSED HIMSELF FROM DISCUSSIONS BEFORE THE BOARD. OPEN SPACE INSTITUTE WAS CONTRACTED BY NEW YORK STATE IN 2012 TO PROVIDE SERVICES FOR A SMART GROWTH PROGRAM THROUGH SUBCONTRACTORS. SUBCONTRACTORS WERE SELECTED UNDER OSI'S STANDARD PROCEDURES. THOMAS WRIGHT, AN OSILT BOARD MEMBER SINCE 2015, IS PRESIDENT OF ONE OF THE SUBCONTRACTORS, REGIONAL PLAN ASSOCIATES (RPA). RPA'S SUBCONTRACT VALUE IS $135,000 AND 2016'S PAYMENT TOTALED $16,065. RPA ALSO RECEIVED A $25,000 GRANT FROM A DONOR-ADVISED FUND ADMINISTERED BY OSILT. OSILT, WITH FUNDING FROM THE BUTLER CONSERVATION FUND (BCF) AND GILBERT BUTLER, PURCHASED PROPERTIES IN SOUTH CAROLINA AND MAINE (SEE SUBSEQUENT PARAGRAPHS), WHICH OSILT IN TURN LEASED TO BCF AFFILIATES. THE LEASES ARE ON A TRIPLE NET BASIS AND ARE CANCELLABLE WITH 60 DAYS NOTICE BY EITHER PARTY. BOTH BCF AND ITS CHAIR GILBERT BUTLER ARE MAJOR DONORS OF OSILT. MR. CHRISTOPHER J. ELLIMAN, PRESIDENT AND CEO OF OSI AND OSILT, SERVED AS A VOLUNTEER TRUSTEE OF BCF AND ITS AFFILIATES UNTIL AUGUST 2017 WHEN HE RESIGNED. MR. ELLIMAN DISCLOSED TO THE OSI BOARD HIS CONFLICT OF INTEREST IN THESE TRANSACTIONS AND RECUSED HIMSELF FROM DISCUSSION BEFORE THE BOARD. THE LEASES WERE SUBSEQUENTLY APPROVED BY THE BOARD. THE LEASES RESTRICT BCF'S USE TO CARRYING OUT ITS PUBLIC OUTDOOR RECREATION AND EDUCATION ACTIVITIES TO PROMOTE ENVIRONMENTAL AWARENESS. THE LESSEE OF THE MAINE PROPERTIES (4,191 ACRES) IS MAINE RIVER TRAILS, LLC, A LIMITED LIABILITY COMPANY WHOSE SOLE MEMBER IS THE BUTLER CONSERVATION FUND AND THE LESSEE OF THE SOUTH CAROLINA PROPERTIES (1,017 ACRES) IS THE BUTLER CONSERVATION FUND ITSELF. GILBERT BUTLER AND BUTLER CONSERVATION FUND ENTITIES WERE ALSO MAJOR CONTRIBUTORS TO OSILT PROJECTS IN THE SHAWANGUNKS REGION OF NEW YORK STATE. MR. ELLIMAN DISCLOSED HIS RELATED INTEREST AND RECUSED HIMSELF FROM DISCUSSION BEFORE THE BOARD. FORM 990, PART VI, SECTION A, LINE 2 SAM LAMBERT AND HOLLY HEGENER HAVE A FAMILY RELATIONSHIP. HOLLY HEGENER IS SAM LAMBERT'S STEP DAUGHTER. FORM 990, PART VI, SECTION B, LINE 11B OUR 990 IS PREPARED BY AN OUTSIDE INDEPENDENT ACCOUNTING FIRM. THE DRAFT FORM 990 IS REVIEWED BY THE CONTROLLER, CHIEF FINANCIAL OFFICER & GENERAL COUNSEL. AFTER STAFF REVIEW THE RETURN IT IS THEN REVIEWED BY THE AUDIT COMMITTEE. THE REVIEWED AND CORRECTED 990 FORM IS THEN SENT OUT TO ALL THE BOARD MEMBERS OF THE ORGANIZATION FOR THEIR REVIEW AND COMMENTS. THE RETURN IS FILED ONCE ALL PARTIES HAVE COMPLETED THEIR REVIEW AND REQUIRED EDITS HAVE BEEN MADE. FORM 990, PART VI, SECTION B, LINE 12C OPEN SPACE INSTITUTE, INC. HAS A CONFLICT OF INTEREST POLICY WHICH REQUIRES ALL INTERESTED PERSONS TO DISCLOSE CONFLICTS AND POTENTIAL CONFLICTS AS SOON AS THEY ARISE. A CONFLICTED PARTY MAY NOT DISCUSS THE TRANSACTION THAT IS THE BASIS OF SUCH CONFLICT, AND MUST RECUSE HIMSELF OR HERSELF FROM ANY DISCUSSION OR VOTE ON SUCH TRANSACTION. THE PRESIDENT EACH YEAR REPORTS TO THE BOARD OF TRUSTEES ALL CONFLICT TRANSACTIONS AND HOW THEY WERE HANDLED. THE BOARD OF OPEN SPACE INSTITUTE, INC. HAS THE POWER TO TAKE REMEDIAL ACTION IF THE CONFLICT POLICY IS VIOLATED. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF DETERMINING COMPETITIVE COMPENSATION FOR TOP MANAGEMENT AND KEY EMPLOYEES INVOLVES OSI'S COMPENSATION COMMITTEE WORKING WITH AN INDEPENDENT COMPENSATION CONSULTANT. THE COMMITTEE PERFORMS AN ANNUAL ASSESSMENT OF THE RESPONSIBILITIES AND PERFORMANCE OF THE CEO/PRESIDENT (OTHER TOP MANAGEMENT AND KEY EMPLOYEES ARE REVIEWED AT LEAST ANNUALLY BY THE CEO/PRESIDENT). THE COMMITTEE ALSO UTILIZES COMPENSATION SURVEYS AND INFORMATION GLEANED FROM FORM 990S OF COMPARABLE ORGANIZATIONS TO DETERMINE APPLICABLE COMPENSATION RATES. ONCE REASONABLE AND COMPETITIVE COMPENSATION RATES ARE ESTABLISHED, THEY ARE APPROVED BY THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 OPEN SPACE INSTITUTE, INC. MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, WHISTLEBLOWER POLICY, DOCUMENT RETENTION AND DESTRUCTION POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC. THESE DOCUMENTS ARE SENT TO ANYONE WHO CONTACTS THE ORGANIZATION AND REQUESTS SUCH INFORMATION. PART VII, SECTION A, COLUMN D: OFFICER COMPENSATION ALLOCATED TO THIS ENTITY AMOUNTED TO $17,299 AS REPORTED IN PART VII, SECTION A, COLUMN D. THE TOTAL COMPENSATION FOR SELECT OFFICERS PAID BY THE CONSOLIDATED GROUP IS REPORTED ON SCHEDULE J, PART II. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 18,641. MANAGEMENT AND GENERAL EXPENSES 66,280. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 84,921. PUBLIC RELATIONS AND COMMUNICATIONS: PROGRAM SERVICE EXPENSES 41,718. MANAGEMENT AND GENERAL EXPENSES 66,939. FUNDRAISING EXPENSES 505. TOTAL EXPENSES 109,162. FORM 990, PART XII, LINE 2C: DESCRIPTION OF THE ORGANIZATION'S AUDIT COMMITTEE: THE AUDIT COMMITTEE OF THE OPEN SPACE INSTITUTE, INC. IS RESPONSIBLE FOR THE OVERSIGHT OF OSI'S FINANCIAL STATEMENTS AND SELECTION OF OSI'S INDEPENDENT ACCOUNTANT. THE COMMITTEE MEETS QUARTERLY TO REVIEW COMPLEX TRANSACTIONS AND INTERIM FINANCIAL STATEMENTS TO OBTAIN A BETTER UNDERSTANDING OF THE CURRENT FINANCIAL CONDITION OF THE ORGANIZATION. ON AN ANNUAL BASIS OSI'S AUDIT COMMITTEE REVIEWS THE REPORT TO THE AUDIT COMMITTEE PREPARED BY OSI'S OUTSIDE AUDITORS AND THE CONSOLIDATED FINANCIAL STATEMENTS OF OUR ORGANIZATION. THE AUDIT COMMITTEE PERIODICALLY REVIEWS, NOT LESS THAN EVERY FIVE YEARS, THE NEED TO REPLACE OSI'S INDEPENDENT ACCOUNTANT BASED ON CERTAIN CRITERIA. THE CRITERIA CONSIDERED INCLUDE DETERMINING IF THE INDEPENDENT ACCOUNTANT POSSESSES A HIGH LEVEL OF KNOWLEDGE OF ACCOUNTING STANDARDS AND PRINCIPLES, GENERALLY, AND NOT FOR PROFIT ACCOUNTING KNOWLEDGE, SPECIFICALLY, AND IF THEY CAN COMPLETE THE REQUIRED WORK IN A TIMELY MANNER AT A COMPETITIVE PRICE. OPEN SPACE INSTITUTE LAND TRUST INC 1350 BROADWAY NEW YORK NY 10018 133028060 LAND CONSERVATION NY 501(C)(3) 11 OPEN SPACE INSTITUTE INC 1 BEAVERKILL VALLEY LAND TRUST INC 1350 BROADWAY NEW YORK NY 10018 133545322 LAND CONSERVATION NY 501(C)(3) 11 OPEN SPACE INSTITUTE INC 1 501(C)(3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 OPEN SPACE INSTITUTE LAND TRUST INC N 6653765 ALLOCATED EXPENSES OPEN SPACE INSTITUTE LAND TRUST INC O 1328145 ALLOCATED EXPENSES PURSUANT TO REGULATIONS SECTION 56.4911-8(B) AND IRC SECTION 4911(F), AN AFFILIATED GROUP OF ORGANIZATIONS IS TREATED AS A SINGLE ORGANIZATION FOR THE PURPOSES OF THE TAX IMPOSED BY IRC SECTION 4911(A). THEREFORE, SINCE THE AFFILIATED GROUP DID NOT HAVE ANY EXCESS LOBBYING EXPENDITURES OR EXCESS GRASSROOTS LOBBYING EXPENDITURES, THE FILING ORGANIZATION IS DEEMED TO NOT HAVE EXCESS LOBBYING EXPENDITURES OR EXCESS GRASSROOTS LOBBYING EXPENDITURES FOR THE PURPOSES OF THE DISCLOSURE ON PART II-A, LINE 1(H) AND 1(I), COLUMN A.AFFILIATED GROUP MEMBER:OPEN SPACE INSTITUTE LAND TRUST, INC. (EIN 13-3028060)1350 BROADWAY, SUITE 201NEW YORK, NY 10018 OPEN SPACE INSTITUTE LAND TRUST INC 1350 BROADWAY SUITE 201 NEW YORK NY 10018 133028060 X 121538 173719 295257 28903098 29198355 1000000 250000 0 0 0