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 521053406 OPEN SPACE INSTITUTE INC OPEN 2122908200 1350 BROADWAY NO 201 NEW YORK NY 100187799 ROBERT K ANDERBERG ESQ SVP & GENERAL 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 1063776 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 49 27 0 0 1851500 811877 176787 186285 5064 1074 121606 43058 2154957 1042294 1305786 469898 0 0 318575 154490 0 0 51742 1089167 548461 2713528 1172849 -558571 -130555 5383971 5828397 1494411 2090647 3889560 3737750 OPEN SPACE INSTITUTE PROTECTS SCENIC, NATURAL AND HISTORIC LANDSCAPES TO ENSURE PUBLIC ENJOYMENT, CONSERVE HABITATS AND SUSTAIN COMMUNITY CHARACTER. 0 0 789986 390398 185335 THE OPEN SPACE INSTITUTE (OSI) 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 OSI'S BOARD OF TRUSTEES, STAFF AND CONSULTANTS, THE FISCAL SPONSORSHIP PROGRAM ALSO PROVIDES TECHNICAL, LEGAL AND ADMINISTRATIVE ASSISTANCE TO COMMUNITY GROUPS PARTICIPATING IN THE PROGRAM. 101678 79500 950 OSI 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 BARNABUS MCHENRY HUDSON RIVER VALLEY AWARDS PROGRAM WHICH ANNUALLY GRANTS FUNDS TO YOUNG LEADERS UNDERTAKING EXEMPLARY PROJECTS THAT MAKE SIGNIFICANT CONTRIBUTIONS IN ENVIRONMENTAL CONSERVATION, HISTORIC PRESERVATION, TOURISM, AND THE ARTS IN THE HUDSON RIVER VALLEY. OSI, THROUGH ITS SUPPORTING ORGANIZATION, OPEN SPACE INSTITUTE LAND TRUST ("OSILT"), BUYS LAND AND CONSERVATION EASEMENTS TO PROTECT SCENIC, HISTORICAL, RECREATIONAL AND AGRICULTURAL LANDSCAPES. IN ADDITION, OSILT ALSO 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. IN 2015, OSILT PROTECTED 4,109 ACRES HAVING A FAIR MARKET VALUE OF $12.3 MILLION. IN ADDITION, OSILT MADE 23 GRANTS TOTALING $3.1 MILLION, RESULTING IN THE PROTECTION OF 15,677 ACRES OF LAND IN 9 STATES AND PROVINCES WITH A FAIR MARKET VALUE OF $24 MILLION. REFER TO THE OSILT FORM 990 FOR A FURTHER DESCRIPTION OF OSILT'S MISSION AND SIGNIFICANT ACTIVITIES. 891664 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 1 111 0 49 1 0 0 0 0 0 1 1 0 0 0 0 X 28 27 0 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 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 BOARD MEMBER 3.00 3.00 X 0 0 0 SUSAN BABCOCK BOARD MEMBER 3.00 3.00 X 0 0 0 DOUGLAS BATESON BOARD MEMBER 3.00 3.00 X 0 0 0 PETER A BIENSTOCK BOARD MEMBER 3.00 3.00 X 0 0 0 ELIZABETH BORDEN BOARD MEMBER 3.00 3.00 X 0 0 0 DALE S BRYK BOARD MEMBER 3.00 3.00 X 0 0 0 GILMAN S BURKE BOARD MEMBER 3.00 3.00 X 0 0 0 JOHN CAHILL BOARD MEMBER 3.00 3.00 X 0 0 0 STEPHEN J CLEARMAN BOARD MEMBER 3.00 3.00 X 0 0 0 J MATTHEW DAVIDSON BOARD MEMBER (RESIGNED 5/13/16) 3.00 3.00 X 0 0 0 PAUL J ELSTON BOARD MEMBER 3.00 3.00 X 0 0 0 JOHN ERNST BOARD MEMBER 3.00 3.00 X 0 0 0 JOSHUA GINSBERG BOARD MEMBER 3.00 3.00 X 0 0 0 HOLLY HEGENER BOARD MEMBER 3.00 3.00 X 0 0 0 SAMUEL G HUBER BOARD MEMBER 3.00 3.00 X 0 0 0 SAMUEL W LAMBERT III BOARD MEMBER 3.00 3.00 X 0 0 0 YUKI MOORE LAURENTI BOARD MEMBER 3.00 3.00 X 0 0 0 W BARNABAS MCHENRY BOARD MEMBER 3.00 3.00 X 0 0 0 KATHERINE O ROBERTS BOARD MEMBER 3.00 3.00 X 0 0 0 ELIZABETH SMITH BOARD MEMBER 3.00 3.00 X 0 0 0 HUME R STEYER BOARD MEMBER 3.00 3.00 X 0 0 0 PATRICIA F SULLIVAN BOARD MEMBER 3.00 3.00 X 0 0 0 THOMAS WRIGHT BOARD MEMBER 3.00 3.00 X 0 0 0 CHRISTOPHER ELLIMAN PRESIDENT & CEO 0.20 34.80 X 0 437621 62892 PETER HOWELL EXECUTIVE VP, CONSERVATION CAPITAL 1.50 33.50 X 0 234017 36098 ROBERT K ANDERBERG VP & GENERAL COUNSEL 2.30 32.70 X 4521 206853 36717 ALICE GLEASON SENIOR VP FINANCE & CFO (RESIGNED 6/15/16) 7.00 28.00 X 0 195700 35457 JOSEPH HOLLAND ASSISTANT TREASURER & CONTROLLER 0.60 34.40 X 0 115916 11065 SAMAYLA DEUTCH VP & ASSOCIATE GENERAL COUNSEL 0.80 34.20 X 3509 183171 34339 TALLY BLUMBERG SENIOR VP OF PROGRAMS 2.70 32.30 X 9038 192642 42774 ERIK KULLESEID SENIOR VP, ALLIANCE FOR NYS PARKS 0.00 35.00 X 0 191580 43215 TERRENCE NOLAN SENIOR VP, CONSERVATION TRANSACTIONS 0.00 35.00 X 0 193260 43350 JENNIFER MELVILLE VP, CONSERVATION GRANTS & LOANS 0.30 34.70 X 0 110416 30986 NATE BERRY VICE PRESIDENT 0.00 35.00 X 0 105000 32983 JEAN CHEN ASST SEC ASSOCIATE COUNSEL (LEFT 3/2/15) 6.10 28.90 X 1494 68655 8755 18562 2234831 418631 0 0 1 0 0 158100 12806 640971 24226 811877 SERVICE INCOME 900099 104045 104045 ADMISSION FEES 900099 48312 48312 MANAGEMENT FEES 900099 33928 33928 186285 1156 1156 43058 0 43058 43058 43058 82 -82 -82 -82 21400 158100 21400 0 1042294 186285 0 44132 469898 469898 18562 18562 135928 135928 7304 7023 281 20541 5485 15056 100837 90908 9929 102742 22761 63744 16237 28130 5648 22464 18 80564 26232 24311 30021 54730 54730 MISCELLANEOUS 119328 74934 38928 5466 PROGRAM MANAGEMENT FEES 33929 33929 PROPERTY MAINTENANCE 356 356 1172849 891664 229443 51742 278 639 2498111 3217636 51055 3060 526284 469898 2492961 2081588 444924 411373 1863319 1725791 5383971 5828397 347376 1003599 1147035 1087048 1494411 2090647 X 1508027 1537917 2381533 2199833 3889560 3737750 5383971 5828397 -130555 -21255 0 X X 0 1 X 1 0 X 14269485 4006255 4458958 1851500 811877 25398075 14269485 4006255 4458958 1851500 811877 25398075 25398075 121666 96771 90777 43063 44214 396491 32530 16413 59082 82483 190508 25985074 811844 0.97740 0.96620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 193248 0 159327 0 352575 1172849 20255830 1172849 20608405 192285 1000000 48071 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 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 2203701 1816770 386931 106772 86835 19937 182488 177983 4505 411373 DEFERRED RENT 770150 DEFERRED COMPENSATION PAYABLE 312873 SECURITY DEPOSITS PAYABLE 4025 1087048 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 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. ANNUAL LUNCH 179500 158100 21400 21400 179500 158100 21400 21400 21400 0 1 CONSTITUTION MARSH AUDUBON CENTER AND SANCTUARY PO BOX 174 COLD SPRING NY 10516 131624102 501(C)(3) 8000 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION HUDSON RIVER SLOOP CLEARWATER 724 WOLCOTT AVENUE BEACON NY 12508 146049022 501(C)(3) 10000 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION CONSTITUTION ISLAND ASSOCIATION PO BOX 126 COLD SPRING NY 10516 510243889 501(C)(3) 5000 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION STONY KILL FARM 79 FARMSTEAD LANE WAPPINGER FALLS NY 12590 132917536 501(C)(3) 5000 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION SCENIC HUDSON INC 1 CIVIC CENTER PLAZA SUITE 200 POUGHKEEPSIE NY 12601 132898799 501(C)(3) 16750 N/A N/A CLOSE OUT CITIZEN ACTION PROGRAM HUDSON VALLEY SEED 380 MAIN STREET SUITE 200 BEACON NY 12508 463267308 501(C)(3) 16000 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION MANITOGA PO BOX 249 GARRISON NY 10524 133221841 501(C)(3) 10000 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION NEWBURGH COMMUNITY LAND BANK PO BOX 152 NEWBURGH NY 12505 460549946 501(C)(3) 6000 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARD MANHATTANVILLE COLLEGE 2900 PURCHASE STREET PURCHASE NY 10577 131740469 501(C)(3) 6000 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARD GLYNWOOD CENTER PO BOX 157 COLD SPRING NY 10516 133852957 501(C)(3) 6000 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARD MARIST COLLEGE 3399 NORTH ROAD DYSON 313 POUGHKEEPSIE NY 12601 141442493 501(C)(3) 6000 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARD BROOKYLN FOOD COALITION 17 EASTERN PARKWAY BROOKLYN NY 11238 954302067 501(C)(3) 7741 N/A N/A CITIZEN ACTION PROGRAM - SPONSORSHIP MOVED TO COMMUNITY PARTNERS, LOS ANGELES, CA CITIZENS' CLIMATE COST PROJECT HARVARD BUSINESS SERVICES INC 16192 COASTAL HWY LEWES DE 19958 474444404 501(C)(3) 9400 N/A N/A CITIZEN ACTION PROGRAM - REGRANT ESSEX FARM INSTITUTE PO BOX 33 ESSEX NY 12936 471368012 501(C)(3) 77502 N/A N/A CITIZEN ACTION PROGRAM - REGRANT NEW YORK COMMUNITY GARDEN COALITION 232 EAST 11TH STREET NEW YORK NY 10003 134035337 501(C)(3) 6875 N/A N/A CLOSE OUT CITIZEN ACTION PROGRAM - FARMING CONCRETE LONG ISLAND COMMUNITY AGRICULTURE NETWORK 47 FOXHURST ROAD SOUTH HUNTINGTON NY 11746 112687442 501(C)(3) 24000 N/A N/A CITIZEN ACTION PROGRAM - REGRANT NEW PALTZ CLIMATE ACTION GROUP 23 PLATTEKILL AVENUE NEW PALTZ NY 12561 270945623 501(C)(3) 37446 N/A N/A CITIZEN ACTION PROGRAM RONDOUT VALLEY GROWERS ASSOCIATION PO BOX 867 STONE RIDGE NY 12484 472217833 501(C)(3) 91639 N/A N/A CITIZEN ACTION PROGRAM - REGRANT SPROUT - ENVIRONMENTAL EDUCATION 421 S 5TH STREET BROOKLYN NY 11211 475051675 501(C)(3) 10420 N/A N/A CITIZEN ACTION PROGRAM - REGRANT TREE KIT-NYC 174 SOUTH 3RD STREET A1 BROOKLYN NY 11211 461668772 501(C)(3) 72233 N/A N/A CITIZEN ACTION PROGRAM - SPONSORSHIP MOVED TO THE NATURE OF CITIES, NEW YORK, NY WHITE ROOF PROJECT 415 WEST 44TH STREET NEW YORK NY 10036 452812703 501(C)(3) 13475 N/A N/A CITIZEN ACTION PROGRAM - REGRANT 22 0 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 0 437621 0 0 0 0 0 35000 0 27892 0 500513 0 0 PETER HOWELL EXECUTIVE VP, CONSERVATION CAPITAL 0 234017 0 0 0 0 0 18721 0 17377 0 270115 0 0 ROBERT K ANDERBERG VP & GENERAL COUNSEL 4521 206853 0 0 0 0 362 16548 424 19383 5307 242784 0 0 ALICE GLEASON SENIOR VP FINANCE & CFO (RESIGNED 6/15/16) 0 195700 0 0 0 0 0 15656 0 19801 0 231157 0 0 SAMAYLA DEUTCH VP & ASSOCIATE GENERAL COUNSEL 3509 183171 0 0 0 0 281 14654 365 19039 4155 216864 0 0 TALLY BLUMBERG SENIOR VP OF PROGRAMS 9038 192642 0 0 0 0 667 14207 1250 26650 10955 233499 0 0 ERIK KULLESEID SENIOR VP, ALLIANCE FOR NYS PARKS 0 191580 0 0 0 0 0 15326 0 27889 0 234795 0 0 TERRENCE NOLAN SENIOR VP, CONSERVATION TRANSACTIONS 0 193260 0 0 0 0 0 15461 0 27889 0 236610 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. 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, 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 $18,562 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 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 1132043 ALLOCATED EXPENSES OPEN SPACE INSTITUTE LAND TRUST 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 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 193248 159327 352575 20255830 20608405 1000000 250000 0 0 0