2016-10-17T00:00:00-05:00 2015-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2015-01-01 133028060 OPEN SPACE INSTITUTE LAND TRUST INC OPEN 2122908200 1350 BROADWAY NO 201 NEW YORK NY 100187799 ROBERT K ANDERBERG ESQ SVP & GEN. COUNSEL 2122908200 2016-10-18 1 ROBERT LYONS P00227472 2125038800 2015 2017-02-10 21:41:12Z CHRISTOPHER J ELLIMAN 1350 BROADWAY NO 201 NEW YORK NY 100187799 90022397 0 X WWW.OSINY.ORG X 1980 NY A SUPPORTING ORGANIZATION OF THE OPEN SPACE INSTITUTE, INC. THAT HOLDS LAND & CONSERVATION EASEMENTS. 28 27 0 27 247164 32444 16823007 12966568 566692 118695 1246305 20244394 171459 78900 18807463 33408557 6009110 5514149 0 0 5565475 6146941 0 0 195868 6226312 7774466 17800897 19435556 1006566 13973001 282769135 271406737 24981059 21238219 257788076 250168518 X OPEN SPACE INSTITUTE LAND TRUST, INC. IS A SUPPORTING ORGANIZATION OF OPEN SPACE INSTITUTE, INC., BOTH OF WHICH PROTECT SCENIC, NATURAL AND HISTORIC LANDSCAPES TO ENSURE PUBLIC ENJOYMENT, CONSERVE HABITATS AND SUSTAIN COMMUNITY CHARACTER. 0 0 6363765 2130026 944 THE OPEN SPACE INSTITUTE LAND TRUST (OSILT) BUYS LAND AND CONSERVATION EASEMENTS, PREDOMINANTLY IN THE EASTERN UNITED STATES AND WITH A PARTICULAR FOCUS ON ITS HISTORIC BASE IN NEW YORK STATE. THIS PROGRAM FOCUSES ON PROTECTING SCENIC, HISTORIC, RECREATIONAL AND AGRICULTURAL LANDSCAPES. THIS PROGRAM INCLUDES THE CONVEYANCE OF PROTECTED PROPERTIES TO CONSERVATION BUYERS, BOTH PUBLIC AND PRIVATE. IN 2015, THE ORGANIZATION PROTECTED 4,109 ACRES OF LAND HAVING A FAIR MARKET VALUE OF $12.3 MILLION. 4818026 3057623 116858 OSILT ADMINISTERS A CONSERVATION CAPITAL PROGRAM WHICH PROVIDES GRANTS AND LOANS 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 AND CANADA. THIS PROGRAM ALSO CONDUCTS RESEARCH AND EDUCATION ACTIVITIES TO IDENTIFY CONSERVATION PRIORITIES AND METHODS OF ATTRACTING OR DEVELOPING NEW FINANCING FOR PERMANENT CONSERVATION. IN 2015, THE ORGANIZATION MADE 22 GRANTS TOTALING $3.1 MILLION RESULTING IN THE PROTECTION OF 16,500 ACRES IN 9 STATES AND PROVINCES WITH A FAIR MARKET VALUE OF $24 MILLION. 3788444 326500 893 OSILT'S PUBLIC POLICY PROGRAM INCLUDES BOTH THE OUTDOORS AMERICA CAMPAIGN AND THE ALLIANCE FOR NEW YORK STATE PARKS. OUTDOORS AMERICA WAS FORMED TO EDUCATE AND ADVOCATE FOR INCREASED SUPPORT FOR THE FEDERAL LAND AND WATER CONSERVATION FUND. THE ALLIANCE OF NEW YORK STATE PARKS ADVOCATES FOR GREATER PUBLIC SUPPORT TO THE NEW YORK STATE PARK SYSTEM, AND WORKS TO MARSHAL PRIVATE DOLLARS IN SUPPORT OF IMPROVED NEW YORK STATE PARKS MAINTENANCE AND DEVELOPMENT. 1364439 OSILT ADMINISTERS A STEWARDSHIP PROGRAM THAT MONITORS AND ENFORCES MORE THAN 330 CONSERVATION EASEMENTS, IMPLEMENTING COMPLEX DISPOSITION PLANS, OVERSEEING THE MANAGEMENT OF DOZENS OF CONSERVATION PROPERTIES BY THIRD-PARTY PARTNERS AND PROVIDING INTERIM MANAGEMENT FOR PROPERTIES THAT ARE BEING CONVEYED TO THIRD PARTIES, SUCH AS THE STATE OF NEW YORK. THIS PROGRAM ALSO INCLUDES THE ACTIVITIES OF THE BEAVERKILL VALLEY LAND TRUST, INC. 1364439 16334674 1 1 0 1 0 1 1 0 0 1 1 1 0 0 1 1 0 1 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 28 27 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY CA CT GA MA ME NC NJ NH PA SC TN WA X JOSEPH HOLLAND 2122908200 1350 BROADWAY SUITE 201 NEW YORK NY 100187799 X JOHN H ADAMS CHAIR 3.00 3.00 X X 0 0 0 CAROLINE NIEMCZYK VICE-CHAIR 3.00 3.00 X X 0 0 0 AMELIA SALZMAN VICE-CHAIR 3.00 3.00 X X 0 0 0 T JEFFERSON CUNNINGHAM III TREASURER 3.00 3.00 X X 0 0 0 EDWARD A AMES SECRETARY 3.00 3.00 X X 0 0 0 CAROL ASH TRUSTEE 3.00 3.00 X 0 0 0 SUSAN BABCOCK TRUSTEE 3.00 3.00 X 0 0 0 DOUGLAS BATESON TRUSTEE 3.00 3.00 X 0 0 0 PETER A BIENSTOCK TRUSTEE 3.00 3.00 X 0 0 0 ELIZABETH BORDEN TRUSTEE 3.00 3.00 X 0 0 0 DALE S BRYK TRUSTEE 3.00 3.00 X 0 0 0 GILMAN S BURKE TRUSTEE 3.00 3.00 X 0 0 0 JOHN CAHILL TRUSTEE 3.00 3.00 X 0 0 0 STEPHEN J CLEARMAN TRUSTEE 3.00 3.00 X 0 0 0 J MATTHEW DAVIDSON TRUSTEE (RESIGNED 5/13/16) 3.00 3.00 X 0 0 0 PAUL J ELSTON TRUSTEE 3.00 3.00 X 0 0 0 JOHN ERNST TRUSTEE 3.00 3.00 X 0 0 0 JOSHUA GINSBERG TRUSTEE 3.00 3.00 X 0 0 0 HOLLY HEGENER TRUSTEE 3.00 3.00 X 0 0 0 SAMUEL G HUBER TRUSTEE 3.00 3.00 X 0 0 0 SAMUEL W LAMBERT III TRUSTEE 3.00 3.00 X 0 0 0 YUKI MOORE LAURENTI TRUSTEE 3.00 3.00 X 0 0 0 W BARNABAS MCHENRY TRUSTEE 3.00 3.00 X 0 0 0 KATHERINE O ROBERTS TRUSTEE 3.00 3.00 X 0 0 0 ELIZABETH SMITH TRUSTEE 3.00 3.00 X 0 0 0 HUME R STEYER TRUSTEE 3.00 3.00 X 0 0 0 PATRICIA F SULLIVAN TRUSTEE 3.00 3.00 X 0 0 0 THOMAS WRIGHT TRUSTEE 3.00 3.00 X 0 0 0 CHRISTOPHER J ELLIMAN PRESIDENT & CEO 34.70 0.30 X 437621 0 62892 PETER HOWELL EXECUTIVE VP, CONSERVATION CAPITAL 33.50 1.50 X 234017 0 36098 ROBERT K ANDERBERG VP & GENERAL COUNSEL 32.30 2.70 X 206610 4764 36717 ALICE GLEASON SENIOR VP FINANCE AND CFO (RESIGNED 6/15/16) 28.00 7.00 X 195700 0 35457 JOSEPH G HOLLAND ASSISTANT TREASURER & CONTROLLER 34.40 0.60 X 115568 348 11065 SAMAYLA DEUTCH VP & ASSOCIATE GENERAL COUNSEL 34.20 0.80 X 183171 3509 34339 TALLY BLUMBERG SENIOR VP OF PROGRAMS 32.30 2.70 X 192642 9038 42774 ERIK KULLESEID SENIOR VP, ALLIANCE FOR NYS PARKS 35.00 0.00 X 191580 0 43215 TERRENCE NOLAN SENIOR VP, CONSERVATION TRANSACTIONS 35.00 0.00 X 193260 0 43350 JENNIFER MELVILLE VP, CONSERVATION GRANTS & LOANS 34.70 0.30 X 110416 0 30986 NATE BERRY VICE PRESIDENT 35.00 0.00 X 104264 736 32982 JEAN CHEN ASST SEC & ASSOCIATE COUNSEL (LEFT 3/2/15) 28.80 6.20 X 68655 1494 8755 LESLIE KANE SZYNAL DIRECTOR, OUTDOORS AMERICA 35.00 0.00 X 204434 0 44380 EILEEN LARRABEE ASS. DIR., ALLIANCE FOR NYS PARKS 35.00 0.00 X 138714 0 38876 LORIJEANNE MOODY DIRECTOR, DEVELOPMENT 35.00 0.00 X 103029 386 12092 2679681 20275 513978 14 0 1 0 MOMBACCUS EXCAVATING INC 710 CHERRYTOWN ROAD KERHONKSON NY 12446 TRAIL CONSTRUCTION 696276 BARTON & LOGUIDICE 290 ELWOOD DAVIS ROAD SYRACUSE NY 13220 PROJECT ADMIN. & DESIGN 195808 PRIME BUCHHOLZ & ASSOCIATES 273 CORPORATE DRIVE PORTSMOUTH NH 03801 INVESTMENT CONSULTANT 148930 THOMAS LENNON FILMS INC 419 WEST 22ND STREET 4 NEW YORK NY 10011 FILM PRODUCTION 122601 4 348890 12617678 6563659 12966568 INTEREST ON LOANS 900099 108665 108665 SERVICE INCOME 900099 10030 10030 118695 691468 247164 444304 70189 0 70189 70189 70189 76166766 56613840 19552926 19552926 19552926 MISCELLANEOUS 900099 8711 8711 8711 33408557 118695 247164 20076130 X 5431369 5431369 82780 82780 2233503 1232208 941348 59947 2598449 2199091 337814 61544 350216 249114 92333 8769 636578 452808 167830 15940 328195 233450 86527 8218 60111 35253 24858 95735 80975 14760 352575 352575 579382 579382 2300584 2224752 75832 127628 42001 84777 850 928720 646598 260441 21681 174774 131712 41751 1311 55051 15521 39530 63626 63626 86136 86136 161364 133592 27772 LOSS ON REAL ESTATE 1864102 1864102 REAL ESTATE TAXES 488435 488435 OTHER EXPENSES 167256 92983 65906 8367 COST OF EASEMENTS 164984 164984 104003 30609 64153 9241 19435556 16334674 2905014 195868 43463828 49903543 800433 806393 188510 243450 7202694 6113933 835361 966614 24286738 1417656 24704260 22869082 54333697 56935484 147240352 129545626 4000000 4022612 282769135 271406737 659624 192377 929325 413368 15703846 14598331 7029231 5572063 659033 462080 24981059 21238219 X 74062386 72365964 183725690 177802554 257788076 250168518 282769135 271406737 X 13973001 -21559982 -32577 X X 0 1 X 1 0 X X 1 OPEN SPACE INSTITUTE INC 521053406 7 1 0 0 1 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 PART IV, SECTION A, LINE 6: OSILT 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 AND CANADA. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 193248 193248 159327 159327 352575 352575 19082981 20255830 19435556 20608405 1000000 1000000 250000 250000 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 242187 295769 311195 352575 1201726 250000 250000 250000 250000 1000000 1500000 121227 171046 117937 193248 603458 2 0 117500 2021860 1 1 X X X X 329 36618.00 9 1 1 4363.00 314878 161209214 -1665319 7930261 151613634 164204032 4533638 7528456 161209214 155092616 21719924 12608508 164204032 141803316 21817706 8528406 155092616 144825486 1454134 4476304 141803316 1.00000 0 1 1 22040737 22040737 1975183 1158177 817006 270488 259479 11009 330 330 22869082 PRIVATELY MANAGED INVESTMENTS 124456095 F COMMON/COLLECTIVE TRUST FUND 5089531 F 129545626 DEPOSIT ON SALE 459547 SECURITY DEPOSIT PAYABLE 2533 462080 X PART II, LINE 9: PURCHASED EASEMENTS THAT HAVE A RESALE VALUE ARE RECORDED AT THE LOWER OF COST OR FAIR MARKET VALUE. DONATED EASEMENTS THAT HAVE A RESALE VALUE ARE RECORDED AT THE LOWER OF THE DONATED VALUE OR FAIR MARKET VALUE. CONSERVATION EASEMENTS DETERMINED BY OSILT TO HAVE NO RESALE VALUE ARE WRITTEN DOWN TO A $1 CARRYING VALUE. PART V, LINE 4: THE WALLACE ENDOWMENT IS USED 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, 2015 AND 2014 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. 1 NORTH AMERICA 0 0 GRANT TO RECIPIENT LOCATED IN TRANSBORDER CANADA LAND ACQUISITION AND STEWARDSHIP 82780 NORTH AMERICA 0 0 PASSIVE FOREIGN INVESTMENT N/A 3908585 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PASSIVE FOREIGN INVESTMENT N/A 5544116 0 0 0 0 0 0 9535481 0 9535481 NORTH AMERICA TRANSBORDER GRANT 82780 WIRE TRANSFER 0 N/A N/A 1 0 1 0 0 1 1 0 SCHEDULE F PART 1,LINE 2: GRANTEES EXECUTE A WRITTEN AGREEMENT WHICH REQUIRES THEM TO SUBMIT WRITTEN REPORTS TO OSILT FOR THE PERIOD OF THE AGREEMENT. 1 ASHBURNHAM CONSERVATION TRUST PO BOX 354 ASHBURNHAM MA 01430 043504474 501(C)(3) 11000 0 N/A N/A MASSACHUSETTS ACCREDITATION ADIRONDACK COUNCIL INC PO BOX D-2 ELIZABETHTOWN NY 12932 141594386 501(C)(3) 25000 0 N/A N/A LAND PRESERVATION AGRICULTURAL STEWARDSHIP ASSOCIATION 2531 NY 40 GREENWICH NY 12834 223084628 501(C)(3) 206718 0 N/A N/A EASEMENT PURCHASE APPALACHIAN MOUNTAIN CLUB 5 JOY ST BOSTON MA 02108 046001677 501(C)(3) 27500 0 N/A N/A OUTDOORS AMERICA CAMPAIGN BEAR PAW REGIONAL GREENWAYS PO BOX 19 DEERFIELD NH 03037 043340659 501(C)(3) 175000 0 N/A N/A LAND ACQUISITION D&H CANAL HISTORICAL SOCIETY 23 MOHONK ROAD HIGH FALLS NY 12440 146038874 501(C)(3) 150000 0 N/A N/A LAND ACQUISITION DELAWARE HIGHLANDS CONSERVANCY 508 RIVER STREET HAWLEY PA 18428 232804664 501(C)(3) 59565 0 N/A N/A LAND ACQUISITION FRENCH & PICKERING CREEKS CONSERVATION TRUST KIMBERTON ROAD PHOENIXVILLE PA 19460 236429095 501(C)(3) 250000 0 N/A N/A LAND ACQUISITION GREATER WORCESTER LAND TRUST 4 ASH STREET WORCESTER MA 01604 222857318 501(C)(3) 11000 0 N/A N/A MASSACHUSETTS ACCREDITATION BRANDYWINE CONSERVANCY & MUSEUM OF ART PO BOX 141 CHADDS FORD PA 19317 516020908 501(C)(3) 275949 0 N/A N/A LAND ACQUISITION HIGHSTEAD FOUNDATION 127 LONETOWN ROAD REDDING CT 06896 061108612 501(C)(3) 34000 0 N/A N/A LAND PRESERVATION NATURAL HERITAGE TRUST 625 BROADWAY ALBANY NY 12207 161019635 501(C)(3) 512500 0 N/A N/A PARKS PRESERVATION NEW JERSEY CONSERVATION FOUNDATION 170 LONGVIEW ROAD FAR HILLS NJ 07931 226065456 501(C)(3) 448279 0 N/A NA LAND ACQUISITION TOWN OF BERNE PO BOX 57 BERNE NY 12023 0 497975 FAIR MARKET VALUE 358 ACRE TENZIN GYATSO PARCEL LAND ACQUISITION QUEENSBURY LAND CONSERVANCY 169 HAVILAND ROAD QUEENSBURY NY 12804 141828898 501(C)(3) 9000 285157 BOOK VALUE 69 ACRE FAITH BIBLE PARCEL LAND PRESERVATION SARATOGA PLAN 112 SPRING STREET 202 SARATOGA SPRINGS NY 12866 141706013 501(C)(3) 260000 0 N/A N/A EASEMENT ACQUISITION THE NATURE CONSERVANCY 322 8TH AVENUE 16 NEW YORK NY 10001 530242652 501(C)(3) 450000 0 N/A N/A LAND ACQUISITION TRUST FOR PUBLIC LAND 116 NEW MONTGOMERY ST SAN FRANCISCO CA 94105 237222333 501(C)(3) 832050 0 N/A N/A LAND ACQUISITION NATURAL LANDS TRUST 1031 PALMERS MILL ROAD MEDIA PA 19063 236272818 501(C)(3) 217800 0 N/A N/A PA HIGHLANDS/NJ BAYSHORE LAND GRANT JEWISH NATIONAL FUND 42 EAST 69TH STREET NEW YORK NY 10021 131659627 501(C)(3) 25000 0 N/A N/A LAND PRESERVATION THE LAND CONSERVANCY OF NEW JERSEY 19 BOONTON AVENUE BOONTON NJ 07005 222378868 501(C)(3) 30000 0 N/A N/A DUKE WILDLIFE CLIMATE ADAPTATION LAND GRANT REGIONAL PLAN ASSOCIATION INC 4 IRVING PL 7TH FLOOR NEW YORK NY 10003 131624154 501(C)(3) 9990 0 N/A N/A LOWER HUDSON VALLEY SMART GROWTH GRANT SMART GROWTH GRANT MOHONK PRESERVE INC PO BOX 715 NEW PALTZ NY 12561 141609484 501(C)(3) 193332 0 N/A N/A ROAD AND TRAIL RESTORATION NORTH CAROLINA WILDLIFE FEDERATION 1024 WASHINGTON STREET RALEIGH NC 27605 561564376 501(C)(3) 12000 0 N/A N/A LAND PRESERVATION ORANGE COUNTY LAND TRUST INC 23 WHITE OAK DRIVE CHESTER NY 10918 133692034 501(C)(3) 7500 0 N/A N/A LAND PRESERVATION LAND PRESERVATION SOUTH CAROLINA WILDLIFE FEDERATION 215 PICKENS STREET COLUMBIA SC 29205 570602549 501(C)(3) 12000 0 N/A N/A OUTDOORS AMERICA CAMPAIGN THE CONSERVATION FUND 1655 N FORT MYER DRIVE ARLINGTON VA 22209 521388917 501(C)(3) 50000 0 N/A N/A LAND ACQUISITION LAND PRESERVATION VERMONT LAND TRUST INC 8 BAILEY AVENUE MONTPELIER VT 05602 030264836 501(C)(3) 60765 0 N/A N/A LAND ACQUISITION WESTERN FOOTHILLS LAND TRUST 445 MAIN STREET NORWAY ME 04268 016083123 501(C)(3) 200000 0 N/A N/A LAND ACQUISITION LAND PRESERVATION 28 2 PART I, LINE 2: GRANTEES EXECUTE A WRITTEN AGREEMENT WHICH REQUIRES THEM TO SUBMIT WRITTEN REPORTS TO OSILT FOR THE PERIOD OF THE AGREEMENT. X X X X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER J ELLIMAN PRESIDENT & CEO 437621 0 0 0 0 0 35000 0 27892 0 500513 0 0 0 PETER HOWELL EXECUTIVE VP, CONSERVATION CAPITAL 234017 0 0 0 0 0 18721 0 17377 0 270115 0 0 0 ROBERT K ANDERBERG VP & GENERAL COUNSEL 206610 4764 0 0 0 0 16529 381 19360 447 242499 5592 0 0 ALICE GLEASON SENIOR VP FINANCE AND CFO (RESIGNED 6/15/16) 195700 0 0 0 0 0 15656 0 19801 0 231157 0 0 0 SAMAYLA DEUTCH VP & ASSOCIATE GENERAL COUNSEL 183171 3509 0 0 0 0 14654 281 19039 365 216864 4155 0 0 TALLY BLUMBERG SENIOR VP OF PROGRAMS 192642 9038 0 0 0 0 14207 667 26650 1250 233499 10955 0 0 ERIK KULLESEID SENIOR VP, ALLIANCE FOR NYS PARKS 191580 0 0 0 0 0 15326 0 27889 0 234795 0 0 0 TERRENCE NOLAN SENIOR VP, CONSERVATION TRANSACTIONS 193260 0 0 0 0 0 15461 0 27889 0 236610 0 0 0 LESLIE KANE SZYNAL DIRECTOR, OUTDOORS AMERICA 204434 0 0 0 0 0 16480 0 27900 0 248814 0 0 0 EILEEN LARRABEE ASS. DIR., ALLIANCE FOR NYS PARKS 138714 0 0 0 0 0 11274 0 27602 0 177590 0 0 0 STEPHEN CLEARMAN SEE PART V 134050 SEE PART V 0 HUME STEYER SEE PART V SEE PART V 0 CHRISTOPHER ELLIMAN SEE PART V 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 12/31/15 TOTALED $134,050. IN ACCORDANCE WITH OSI'S CONFLICT OF INTEREST POLICY, MR. CLEARMAN RECUSES HIMSELF FROM ANY DECISION REGARDING OSILT'S INVESTMENT IN KINDERHOOK, LP. IN ADDITION, AS OF THE END OF 2015, OSILT WITHDREW FROM KINDERHOOK, LP, ALTHOUGH ADDITIONAL DISTRIBUTIONS WILL OCCUR IN THE 2016 CALENDAR YEAR.HUME STEYER IS A TRUSTEE OF BOTH OSI AND OSILT. MR. STEYER AND A LAW FIRM IN WHICH HE IS A PARTNER REPRESENT SEVERAL HEDGE FUNDS IN WHICH OSILT HAS INVESTED. MR. STEYER ALSO REPRESENTS MEMBERS OF TWO FAMILIES WHICH HAVE SOLD LAND TO OSILT. IN ACCORDANCE WITH OSI'S CONFLICT OF INTEREST POLICY, MR. STEYER RECUSES HIMSELF FROM ANY DECISION REGARDING THE INVESTMENT IN SUCH HEDGE FUNDS AND PURCHASE OF SUCH LANDS. 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 18 MILES OF RECREATIONAL TRAILS ON THE PRESERVE FOR PUBLIC USE. CHRISTOPHER 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 CONFLICT OF INTEREST POLICY, MR. ELLIMAN RECUSED HIMSELF FROM ANY DECISION REGARDING THE ACQUISITION OF THE CONSERVATION EASEMENT ON THE BLACK ROCK FOREST PRESERVE. OSILT LEASED APPROXIMATELY 1,017 ACRES OF UNDEVELOPED LAND LOCATED IN GEORGETOWN COUNTY, SOUTH CAROLINA TO THE BUTLER CONSERVATION FUND, A CHARITABLE FOUNDATION ENGAGED IN CONSERVATION WORK AND PUBLIC OUTDOOR EDUCATION. CHRISTOPHER ELLIMAN, PRESIDENT AND CEO OF OSI AND OSILT, IS ALSO A VOLUNTEER TRUSTEE OF THE BUTLER CONSERVATION FUND. IN ACCORDANCE WITH OSI'S CONFLICTS OF INTEREST POLICY, MR. ELLIMAN RECUSED HIMSELF FROM ANY DECISION REGARDING THE LEASE OF THE 1,017 ACRES OF LAND TO THE BUTLER CONSERVATION FUND. X 2 69178 FAIR MARKET VALUE X 6 6325121 FAIR MARKET VALUE X 1 169360 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF OPEN SPACE INSTITUTE LAND TRUST, INC. IS OPEN SPACE INSTITUTE, INC. OPEN SPACE INSTITUTE, INC. HAS A FISCAL SPONSORSHIP PROGRAM, THE CITIZEN ACTION PROGRAM, WHICH SUPPORTS LOCAL COMMUNITY GROUPS WORKING TO PROTECT NATURAL HABITATS AND HAS AN ENVIRONMENTAL EDUCATION PROGRAM WHICH MAKES GRANTS TO LOCAL ORGANIZATIONS FOR ENVIRONMENTAL EDUCATION. REFER TO THE OPEN SPACE INSTITUTE, INC. FORM 990 FOR A FURTHER DESCRIPTION OF THE ORGANIZATION'S MISSION AND MOST SIGNIFICANT ACTIVITIES. FORM 990, PART VI, SECTION A, LINE 7A THE TRUSTEES OF OPEN SPACE INSTITUTE LAND TRUST, INC. ARE ELECTED AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES OF THE SOLE MEMBER (OPEN SPACE INSTITUTE, INC.) AND ANY TRUSTEE MAY BE REMOVED, WITH OR WITHOUT CAUSE, BY THE SOLE MEMBER. FORM 990, PART VI, SECTION B, LINE 11 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 LAND TRUST, 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 LAND TRUST, 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 OUR 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 THE ENTITY AMOUNTED TO $2,679,681 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 CONSULTING FEES - PROGRAM: PROGRAM SERVICE EXPENSES 1,908,930. MANAGEMENT AND GENERAL EXPENSES 55,500. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,964,430. DEED/EASEMENT FEES: PROGRAM SERVICE EXPENSES 36,526. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 36,526. EASEMENT MONITORING FEES: PROGRAM SERVICE EXPENSES 8,855. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,855. SURVEY FEES: PROGRAM SERVICE EXPENSES 126,003. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 126,003. APPRAISAL FEES: PROGRAM SERVICE EXPENSES 64,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 64,000. LAND & EASEMENT PLANNING/POLLS: PROGRAM SERVICE EXPENSES 10,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,000. CONSTRUCTION: PROGRAM SERVICE EXPENSES 69,206. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 69,206. TEMPORARY HELP: PROGRAM SERVICE EXPENSES 1,232. MANAGEMENT AND GENERAL EXPENSES 20,332. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 21,564. FORM 990, PART XI, LINE 9: IN-KIND INTEREST INCOME 21,336. IN-KIND INTEREST EXPENSE -2,998. PROGRAM-RELATED LOANS AT LESS THAN MARKET INTEREST RATE -50,915. PART XII LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PART XII, LINE 2C: DESCRIPTION OF THE ORGANIZATION'S AUDIT COMMITTEE: THE AUDIT COMMITTEE OF THE OPEN SPACE INSTITUTE, INC., A SUPPORTED ORGANIZATION OF THE OPEN SPACE INSTITUTE LAND TRUST, INC., IS ALSO THE AUDIT COMMITTEE OF OPEN SPACE INSTITUTE LAND TRUST, INC. AND IS RESPONSIBLE FOR THE OVERSIGHT OF OUR FINANCIAL STATEMENTS AND SELECTION OF OUR 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, OUR AUDIT COMMITTEE REVIEWS THE REPORT TO THE AUDIT COMMITTEE PREPARED BY OUR 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 OUR 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. OSI CONSERVATION INVESTMENTS LLC 1350 BROADWAY SUITE 201 NEW YORK NY 100187799 133028060 INVESTMENT VEHICLE NY 0 0 OPEN SPACE INSTITUTE LAND TRUST INC OPEN SPACE INSTITUTE INC 1350 BROADWAY NEW YORK NY 10018 521053406 LAND PROTECTION NY 501(C)(3) 7 N/A 0 BEAVERKILL VALLEY LAND TRUST INC 1350 BROADWAY NEW YORK NY 10018 133545322 LAND PROTECTION NY 501(C)(3) 11 OPEN SPACE INSTITUTE INC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 OPEN SPACE INSTITUTE INC N 1132043 ALLOCATED EXPENSES OPEN SPACE INSTITUTE INC O 6013109 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, INC. (EIN 52-1053406)1350 BROADWAY, SUITE 201NEW YORK, NY 10018 OPEN SPACE INSTITUTE INC 1350 BROADWAY SUITE 201 NEW YORK NY 10018 521053406 0 0 0 1172849 1172849 192285 48071 0 0 0