2016-11-10T10:09:41-06:00 2016-06-30 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2015-07-01 237148333 THE SCENIC HUDSON LAND TRUST INC SCEN 8454734440 ONE CIVIC CENTER PLAZA NO 200 POUGHKEEPSIE NY 12601 CPA EXECUTIVE DIRECTOR 8454734440 2016-11-10 1 ROBERT R LYONS CPA P00227472 2125038800 2015 2017-02-10 21:41:12Z STEVEN ROSENBERG ONE CIVIC CENTER PLAZA NO 200 POUGHKEEPSIE NY 12601 13680245 0 X WWW.SCENICHUDSON.ORG X 1936 NY SCENIC HUDSON IS DEDICATED TO PROTECTING AND RESTORING THE HUDSON RIVER, ITS RIVERFRONT AND THE MAJESTIC VISTAS AND WORKING LANDSCAPES BEYOND AS AN IRREPLACEABLE NATIONAL TREASURE FOR AMERICA AND A VITAL RESOURCE FOR RESIDENTS AND VISITORS. 13 12 0 415 0 0 3451771 3342555 0 0 11214657 7563419 142872 138352 14809300 11044326 237500 10280 0 0 135213 140176 0 0 56680 8563257 13444789 8935970 13595245 5873330 -2550919 243823123 234355217 2919486 4067108 240903637 230288109 SCENIC HUDSON IS DEDICATED TO PROTECTING AND RESTORING THE HUDSON RIVER, ITS RIVERFRONT, ITS VALLEYS AND THE MAJESTIC VISTAS AND WORKING LANDSCAPES BEYOND AS AN IRREPLACEABLE NATIONAL TREASURE FOR AMERICA AND A VITAL RESOURCE FOR RESIDENTS AND VISITORS. 0 0 12735907 10280 THE SCENIC HUDSON LAND TRUST, INC. PROTECTS LAND THAT IS OF ECOLOGICAL, SCENIC, HISTORIC, AGRICULTURAL OR RECREATIONAL SIGNIFICANCE. SERVICES INCLUDE CREATING PUBLIC ACCESS TO THE LAND, PROMOTING APPROPRIATE COMPATIBLE USE OF LAND, AND EDUCATING THE PUBLIC ABOUT THE LAND'S SIGNIFICANCE. 12735907 1 1 0 0 0 0 1 0 0 1 1 1 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 13 0 0 0 1 EI CJ 0 0 0 0 0 0 0 0 X 13 12 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 NY PA NJ X X JASON CAMPORESE 8454734440 ONE CIVIC CENTER PLAZA SUITE 200 POUGHKEEPSIE NY 12601 FREDERIC C RICH CHAIR 1.00 1.00 X X 0 0 0 SIMON ROOSEVELT VICE CHAIR 1.00 1.00 X X 0 0 0 W PATRICK MCMULLAN III TREASURER 1.00 1.00 X X 0 0 0 WHEELOCK WHITNEY III DIRECTOR 1.00 0.00 X X 0 0 0 EDWARD O SULLIVAN ASSISTANT SECRETARY 5.00 37.00 X X 0 380291 96230 JAMES CLARK DIRECTOR 1.00 1.00 X 0 0 0 KRISTIN GAMBLE DIRECTOR 1.00 1.00 X 0 0 0 ANDREW GUNDLACH DIRECTOR 1.00 0.00 X 0 0 0 MARJORIE L HART DIRECTOR 1.00 1.00 X 0 0 0 DAVID H MORTIMER DIRECTOR 1.00 1.00 X 0 0 0 RUDOLPH RAUCH III DIRECTOR 1.00 0.00 X 0 0 0 ALEXANDER REESE DIRECTOR 1.00 1.00 X 0 0 0 LEIGH SEIPPEL DIRECTOR 1.00 1.00 X 0 0 0 STEVEN ROSENBERG EXECUTIVE DIRECTOR 20.00 28.00 X 0 252532 109540 JOSEPH KAZLAUSKAS CHIEF FIN. & OPER. (THROUGH 12/14/15) 7.00 38.00 X 0 247025 28750 JASON CAMPORESE CHIEF FIN. OFFICER (FROM 12/14/15) 7.00 38.00 X 0 6154 0 ERIN RILEY VP - EXTERNAL RELATIONS 2.00 40.00 X 0 211186 37895 JAMES BURGESS DIRECTOR OF COMMUNICATIONS 39.00 1.00 X 0 144277 12334 SETH MCKEE LAND CONSERVATION DIRECTOR 39.00 1.00 X 0 111315 35677 RITA SHEEHAN LAND CONSERVATION DIRECTOR 39.00 1.00 X 0 109103 10396 0 1461883 330822 0 0 1 0 SCENIC HUDSON INC ONE CIVIC CENTER PLAZA SUITE 200 POUGHKEEPSIE NY 12601 SERVICE AGREEMENT 2397300 MEYER CONTRACTING CORPORATION 12 CHARLES STREET PLEASANT VALLEY NY 12569 PARK CONSTRUCTION 604858 SNEERINGER MONAHAN PROVOST REDGRAVE 313 MAIN STREET POUGHKEEPSIE NY 12601 TITLE AGENCY 189920 HEMLOCK HOLLOW FARMS INC PO BOX 6 PHILMONT NY 12607 CONTRACTOR 157614 ECOSYSTEMS STRATEGIES INC 24 DAVIS AVE POUGHKEEPSIE NY 12603 REMEDIATION 129552 6 1459155 1883400 3342555 3393268 3393268 135970 0 135970 135970 135970 4591069 2215001 1840018 795901 2751051 1419100 4170151 4170151 MISCELLANEOUS 900099 2382 2382 2382 11044326 0 0 7701771 X 10280 10280 140176 140176 1824435 1646225 121530 56680 9189 9189 47500 47500 633628 633628 11834 11834 141445 141445 SALES/DONATIONS OF LAND 5569049 5569049 CONSERVATION EASEMENTS 2972255 2972255 LAND PROJECT EXPENSES 1949900 1949900 PROPERTY TAXES 224692 224692 60862 60862 13595245 12735907 802658 56680 12124019 14207206 4639627 2680347 110694 422162 91896 61469 9806 30427 102441035 109130577 60907135 47507526 63590807 60376972 243823123 234355217 850890 649917 100000 100000 1968596 3317191 2919486 4067108 X 74170171 72705222 166733466 157582887 240903637 230288109 243823123 234355217 X -2550919 -8216013 151404 X X 0 1 X 1 0 X X 1 SCENIC HUDSON INC 132898799 7 1 1882300 0 1 1882300 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X 176 17841.00 2 1 1 2912.00 129237 178554564 917329 -2845896 8205800 168420197 182909191 289100 3076273 7720000 178554564 158031429 5192544 26729409 7044400 182909191 143968542 244162 20388963 6570238 158031429 150682343 1411091 -1622192 6502700 143968542 0.10000 0.00000 0.90000 0 1 1 91896 61469 30427 30427 POOLED INVESTMENT FUNDS - EX U.S. COMMINGLED FUNDS 30910859 F POOLED INVESTMENT FUNDS - ALTERNATIVE INVESTMENT FUNDS 16596667 F 47507526 LAND AREAS 60336737 DUE FROM RELATED PARTY 40235 60376972 X PART II, LINE 5: THE ORGANIZATION(S) POLICIES ON CONSERVATION EASEMENT MONITORING AND VIOLATIONS CONFORM TO LAND TRUST ALLIANCE STANDARDS AND PRACTICES. THE POLICIES REQUIRE THAT EACH CONSERVATION EASEMENT IS MONITORED ANNUALLY BY A PHYSICAL INSPECTION OF THE PROPERTY. IF ANY VIOLATION OF THE CONSERVATION EASEMENT HAS OCCURRED, THE LANDOWNER IS NOTIFIED BY CERTIFIED LETTER OF THE VIOLATION. WHEN APPROPRIATE, THE LETTER OUTLINES CORRECTIVE MEASURES THAT WILL MITIGATE THE PROBLEMS. LEGAL ACTION, AUTHORIZED BY THE BOARD, MAY BE TAKEN IN THE EVENT THAT A LANDOWNER DISREGARDS THE TERMS OF THE EASEMENT AND/OR REFUSES TO TAKE CORRECTIVE MEASURES. PART II, LINE 9: PURCHASED EASEMENTS ARE EXPENSED IN THE PERIOD ACQUIRED. DONATED CONSERVATION EASEMENTS ARE NOT RECORDED AS REVENUE OR EXPENSE BY THE ORGANIZATION, EXCEPT THOSE EASEMENTS DONATED BY THIRD PARTIES TO SATISFY THE REQUIREMENTS OF GOVERNMENTAL FUNDING AGENCIES. PART V, LINE 4: THE SCENIC HUDSON LAND TRUST IS A SUPPORTING ORGANIZATION OF SCENIC HUDSON (THE ORGANIZATIONS"). SCENIC HUDSON HAS TWO OF THE ORGANIZATIONS' FOUR ENDOWMENTS; THE SCENIC HUDSON, INC. BOARD DESIGNATED (QUASI-ENDOWMENT) AND THE KATHRYN W. DAVIS FUND FOR PARK PLANNING AND COMMUNITY LAND USE. THE SCENIC HUDSON LAND TRUST, INC. HAS THE LILA ACHESON AND DEWITT WALLACE HUDSON VALLEY LAND PRESERVATION ENDOWMENT AND THE EASEMENT ENFORCEMENT FUND. AS REQUIRED, THE COMBINED FAIR VALUE OF THESE ENDOWMENTS IS REPORTED ON SCHEDULE D, PART V OF THE 990 FOR BOTH SCENIC HUDSON AND THE SCENIC HUDSON LAND TRUST. THE BOARD DESIGNATED (QUASI-ENDOWMENT) WAS ESTABLISHED TO ENSURE SCENIC HUDSON'S FISCAL STABILITY AND PROVIDE EMERGENCY FUNDS FOR PURPOSES APPROVED BY THE BOARD. SCENIC HUDSON, INC. ESTABLISHED THE KATHRYN W. DAVIS FUND FOR PARK PLANNING AND COMMUNITY LAND USE, FUNDED WITH A DONOR-RESTRICTED GIFT OF $5 MILLION FROM THE SHELBY CULLOM DAVIS FOUNDATION. EXPENDITURES FROM THIS FUND SHALL BE USED TO SUPPORT THE ORGANIZATION'S STAFF, CONSULTANTS, AND OTHER COSTS FOR PARK DESIGN, PARK MANAGEMENT AND/OR ACQUISITION AND LAND USE PLANNING. THE LILA ACHESON AND DEWITT WALLACE HUDSON VALLEY LAND PRESERVATION ENDOWMENT (THE "WALLACE ENDOWMENT") IS A TERM ENDOWMENT HELD BY THE SCENIC HUDSON LAND TRUST, INC. THAT SHALL CONTINUE TO BE USED FOR THE PURPOSES OF ACQUIRING AND HOLDING LAND IN THE HUDSON RIVER VALLEY 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 HUDSON RIVER VALLEY. THE BOARD OF DIRECTORS OF THE SCENIC HUDSON LAND TRUST, INC. HAS ALSO ESTABLISHED A BOARD DESIGNATED EASEMENT ENFORCEMENT FUND AS A RESERVE TO PAY LEGAL AND OTHER EASEMENT ENFORCEMENT AND MONITORING COSTS THAT MAY BE INCURRED TO DEFEND THE ORGANIZATION'S CONTRACTUAL RIGHTS AND PRIVILEGES ESTABLISHED THROUGH CONSERVATION EASEMENTS OWNED. PART X, LINE 2: INCOME TAXES - THE ORGANIZATION BELIEVES IT HAD NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 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. CENTRAL AMERICA AND THE CARIBBEAN - 0 0 PASSIVE FOREIGN INVESTMENTS N/A 12201971 EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PASSIVE FOREIGN INVESTMENTS N/A 4394696 0 0 0 0 0 0 16596667 0 16596667 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 EDWARD O SULLIVAN ASSISTANT SECRETARY 0 312354 0 60000 0 7937 0 94970 0 1260 0 476521 0 0 STEVEN ROSENBERG EXECUTIVE DIRECTOR 0 217532 0 35000 0 0 0 83536 0 26004 0 362072 0 0 JOSEPH KAZLAUSKAS CHIEF FIN. & OPER. (THROUGH 12/14/15 0 212025 0 35000 0 0 0 19762 0 8988 0 275775 0 0 ERIN RILEY VP - EXTERNAL RELATIONS 0 176186 0 35000 0 0 0 16895 0 21000 0 249081 0 0 JAMES BURGESS DIRECTOR OF COMMUNICATIONS 0 129277 0 15000 0 0 0 11542 0 792 0 156611 0 0 PART I, LINE 4B DURING THE YEAR ENDED JUNE 30, 2015, SCENIC HUDSON, INC. AND EDWARD SULLIVAN ENTERED INTO A LONG-TERM EMPLOYMENT AGREEMENT UNDER IRC SECTION 457(F). THE TERMS OF THE AGREEMENT RUN THROUGH JANUARY 31, 2020 AT WHICH TIME MR. SULLIVAN WILL COMPLETE HIS COMMITMENT AND RECEIVE A ONE-TIME LUMP SUM PAYMENT OF $500,000. SINCE MR. SULLIVAN ALSO PROVIDES ESSENTIAL SERVICES TO THE SCENIC HUDSON LAND TRUST, INC. (THE "LAND TRUST"), THE LAND TRUST HAS AGREED TO PROVIDE SCENIC HUDSON, INC. WITH FUNDS SUFFICIENT TO ENABLE SCENIC HUDSON, INC. TO MAKE PAYMENTS DUE UNDER THE PLAN. ACCORDINGLY, THE LAND TRUST WILL RECOGNIZE THIS OBLIGATION OVER THE TERM OF THE AGREEMENT. DURING THE YEAR ENDED JUNE 30, 2016, THE LAND TRUST RECOGNIZED $98,361 OF EXPENSE RELATED TO THIS AGREEMENT. DURING THE YEAR ENDED JUNE 30, 2010, SCENIC HUDSON, INC. AND STEVEN ROSENBERG ENTERED INTO A LONG-TERM EMPLOYMENT AGREEMENT UNDER IRC SECTION 457(F). THE TERMS OF THE AGREEMENT RAN THROUGH MAY 29, 2016 AT WHICH TIME MR. ROSENBERG COMPLETED HIS COMMITMENT AND RECEIVED A ONE-TIME LUMP SUM PAYMENT OF $275,000.DURING THE YEAR ENDED JUNE 30, 2016, SCENIC HUDSON, INC. AND MR. ROSENBERG ENTERED INTO A LONG-TERM EMPLOYMENT AGREEMENT UNDER IRC SECTION 457(F). THE AGREEMENT IS FOR A FIVE-YEAR TERM AND WILL PROVIDE FOR A PAYMENT OF $230,000 UPON MATURITY. SINCE MR. ROSENBERG ALSO PROVIDES ESSENTIAL SERVICES TO THE SCENIC HUDSON LAND TRUST, INC. (THE "LAND TRUST"), THE LAND TRUST HAS AGREED TO PROVIDE SCENIC HUDSON, INC. WITH FUNDS SUFFICIENT TO ENABLE SCENIC HUDSON, INC. TO MAKE PAYMENTS DUE UNDER THE PLANS. ACCORDINGLY, THE LAND TRUST WILL RECOGNIZE THIS OBLIGATION OVER THE TERM OF THE AGREEMENT. DURING THE YEAR ENDED JUNE 30, 2016, THE LAND TRUST RECOGNIZED $41,815 OF EXPENSE RELATED TO THE AGREEMENT. SCHEDULE J, PART II: THE PERSONS LISTED IN PART II OF SCHEDULE J PERFORM SERVICES FOR THE SCENIC HUDSON LAND TRUST, INC. IN THEIR CAPACITIES AS EMPLOYEES OF SCENIC HUDSON, INC; THE SCENIC HUDSON LAND TRUST, INC. HAS NO EMPLOYEES. TOTAL COMPENSATION TO EACH OF SUCH PERSONS IS REQUIRED TO BE REPORTED ON SCHEDULE J BY BOTH SCENIC HUDSON, INC. AND THE SCENIC HUDSON LAND TRUST, INC. NOTWITHSTANDING THAT EACH OF THESE DIRECTORS, OFFICERS AND EMPLOYEES ARE PAID DIRECTLY AND ONLY BY SCENIC HUDSON. AS NOTED IN SCHEDULE R PART V, THE SCENIC HUDSON LAND TRUST, INC. IS PARTY TO A SERVICES AGREEMENT WITH SCENIC HUDSON, INC. PURSUANT TO WHICH SCENIC HUDSON, INC., AMONG OTHER THINGS, MAKES THE SERVICES OF SUCH PERSONS AVAILABLE TO THE SCENIC HUDSON LAND TRUST, INC. AND THE SCENIC HUDSON LAND TRUST, INC. MAKES A SINGLE AGGREGATE PAYMENT TO SCENIC HUDSON, WHICH IN FISCAL YEAR 2016 WAS $1,822,300. FORM 990, PART VI, SECTION A, LINE 3 SCENIC HUDSON, INC. PROVIDES THE ORGANIZATION WITH THE SERVICES OF ITS EMPLOYEES, SPACE AND GENERAL ADMINISTRATIVE SUPPORT FOR WHICH THE ORGANIZATION PROVIDES PAYMENT TO SCENIC HUDSON, INC. FOR THE ACTUAL COST OF THE AGREED SERVICES ON A QUARTERLY BASIS. FORM 990, PART VI, SECTION A, LINE 6 SCENIC HUDSON, INC. IS THE SOLE CORPORATE MEMBER OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE TOTAL NUMBER OF DIRECTORS SHALL INCLUDE THREE (3) PERSONS WHO SHALL SERVE EX OFFICIO, WITH FULL VOTING RIGHTS, IN THEIR CAPACITIES AS THE CHAIR, TREASURER AND PRESIDENT OF SCENIC HUDSON, INC. THE REMAINING NUMBER OF DIRECTORS SHALL BE ELECTED BY THE SOLE MEMBER (SCENIC HUDSON, INC.) AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTIONS MAY BE TAKEN ONLY IF AUTHORIZED BY THE SOLE MEMBER (I) THE DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION; (II) A PLAN OF MERGER OR CONSOLIDATION OF THE CORPORATION; AND (III) A PLAN OF DISSOLUTION AND DISTRIBUTION OF ASSETS OF THE CORPORATION. THE SOLE MEMBER SHALL HAVE THE EXCLUSIVE POWER TO AMEND THE CORPORATION'S CERTIFICATE OF INCORPORATION AND BYLAWS. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S 990 IS REVIEWED BY THE AUDIT COMMITTEE AND DISCUSSED WITH THE FULL BOARD AT THE ANNUAL MEETING BEFORE THE RETURN IS FILED. PRINTED COPIES OF THE 990 ARE DISTRIBUTED TO THE FULL BOARD IN PREPARATION OF THE ANNUAL MEETING. COPIES OF THE 990 ARE AVAILABLE ON THE ORGANIZATION'S BOARD EXTRA-NET AND ON THE ORGANIZATION'S WEBSITE (WWW.SCENICHUDSON.ORG). FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND ALL STAFF ARE REQUIRED TO ANNUALLY REVIEW AND SIGN THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. BOARD MEMBERS WHO MAY HAVE ANY REAL OR PERCEIVED CONFLICTS OF INTEREST ABSTAIN FROM DISCUSSION AND VOTING. CONFLICTS OF INTEREST INVOLVING STAFF SITUATIONS WHICH MAY ARISE (REAL OR PERCEIVED) ARE REVIEWED BY THE BOARD OF DIRECTORS. ISSUES INVOLVING EXECUTIVES ARE REVIEWED BY THE EXECUTIVE COMMITTEE OR FULL BOARD AND/OR LEGAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION RELIED ON SCENIC HUDSON, INC., A RELATED ORGANIZATION, THAT DETERMINED THE EXECUTIVE COMPENSATION AS FOLLOW: EXECUTIVE COMPENSATION IS DETERMINED BY THE EXECUTIVE COMPENSATION COMMITTEE IN CONSULTATION WITH THE BOARD OF DIRECTORS. THIS COMMITTEE ENGAGES A THIRD PARTY COMPENSATION CONSULTANT WHO PROVIDES A MARKET ANALYSIS WITH RECOMMENDATIONS. THE COMMITTEE ALSO INCORPORATES FIRST HAND RESEARCH DATA ON COMPARABLE ORGANIZATIONS IN SCENIC HUDSON'S GEOGRAPHIC AREA IN THEIR RECOMMENDATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING CORPORATE GOVERNANCE DOCUMENTS ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE (HTTP://WWW.SCENICHUDSON.ORG/ABOUT/FINANCIALS): * FORM 1023 * FORM 990 * AUDITED FINANCIAL STATEMENTS * CERTIFICATE OF INCORPORATION * CORPORATE BY-LAWS * WHISTLEBLOWER POLICY * CONFLICT OF INTEREST POLICY FORM 990, PART IX, LINE 24E REMEDIATION EXPENSE: PROGRAM SERVICE EXPENSES 60,862. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 60,862. FORM 990, PART IX: ACTIVITIES THAT OCCUR WITHIN THE SCENIC HUDSON LAND TRUST, A SUPPORTING ORGANIZATION OF SCENIC HUDSON, DIRECTLY IMPACT THE ACHIEVEMENT OF SCENIC HUDSON'S MISSION. SUCH ACTIVITIES INCLUDE THE PURCHASE OF CONSERVATION EASEMENTS AND LAND IN FEE TITLE. THE PROGRAM EXPENSES ASSOCIATED WITH THESE ACTIVITIES LARGELY ARE INCURRED BY THE SCENIC HUDSON LAND TRUST, WITH MANY OF THE ADMINISTRATIVE EXPENSES SUPPORTING THESE ACTIVITIES OCCURRING WITHIN SCENIC HUDSON. AS A RESULT, THE ONLY MEANINGFUL CALCULATION OF THE ORGANIZATIONS' PROGRAM EXPENSE RATIO MUST BE ON A CONSOLIDATED BASIS. ON A CONSOLIDATED BASIS, THE PROGRAM EXPENSE RATIO FOR THE ORGANIZATIONS WAS 82.6% AND 78.7%, RESPECTIVELY, FOR THE FISCAL YEARS ENDED JUNE 30, 2016 AND 2015. FORM 990, PART XI, LINE 9: IN-KIND CONTRIBUTION FOR IMPUTED INTEREST ON NOTES PAYABLE 203,572. IMPUTED INTEREST ON NOTES PAYABLE -52,168. FORM 990, PART XII, LINE 2C: THE PROCESS OF OVERSEEING THE AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT HAS NOT BEEN CHANGED FROM THE PRIOR YEAR. THE INDEPENDENT AUDITORS ARE APPOINTED BY THE BOARD BASED ON THE RECOMMENDATION OF THE AUDIT COMMITTEE. FORM 990, PART I, LINE 5 AND PART V, LINE 1A: CLARIFICATION RELATED TO NUMBER OF EMPLOYEES: THE ORGANIZATION HAS NO EMPLOYEES OF ITS OWN AS THE MANAGEMENT OF THE ORGANIZATION IS PROVIDED BY SCENIC HUDSON, INC. SCENIC HUDSON, INC. IS REIMBURSED FOR THE PAYROLL AND OPERATING COSTS PAID ON BEHALF OF THE ORGANIZATION. BEACON WATERFRONT LLC ONE CIVIC CENTER PLAZA SUITE 200 POUGHKEEPSIE NY 12601 261107386 LIMITED LIABILITY COMPANY NY 0 1593163 N/A SCENIC HUDSON INC ONE CIVIC CENTER PLAZA SUITE 200 POUGHKEEPSIE NY 12601 132898799 PROTECTING AND RESTORING THE HUDSON RIVER NY 501(C)(3) LINE 7 N/A 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 1 SCENIC HUDSON INC O 1822300 COST SCENIC HUDSON INC P 575000 CASH PAYMENTS SCENIC HUDSON INC Q 900500 CASH PAYMENTS