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      <TotalContributionsAmt>1526209</TotalContributionsAmt>
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        <BusinessCd>900099</BusinessCd>
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        <RelatedOrExemptFuncIncomeAmt>242158</RelatedOrExemptFuncIncomeAmt>
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      <ProgramServiceRevenueGrp>
        <Desc>OTHER PROGRAM SERVICES</Desc>
        <BusinessCd>900099</BusinessCd>
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      <ProgramServiceRevenueGrp>
        <Desc>RENTAL INCOME</Desc>
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        <TotalRevenueColumnAmt>21399</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>21399</RelatedOrExemptFuncIncomeAmt>
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        <SecuritiesAmt>1246338</SecuritiesAmt>
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      <NetGainOrLossInvestmentsGrp>
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        <ExclusionAmt>2342330</ExclusionAmt>
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      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>4318306</TotalRevenueColumnAmt>
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        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
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      <InfoInScheduleOPartIXInd>X</InfoInScheduleOPartIXInd>
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      </GrantsToDomesticOrgsGrp>
      <GrantsToDomesticIndividualsGrp>
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        <ProgramServicesAmt>59081</ProgramServicesAmt>
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      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>221378</TotalAmt>
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        <FundraisingAmt>435</FundraisingAmt>
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      <FeesForServicesLegalGrp>
        <TotalAmt>74096</TotalAmt>
        <ProgramServicesAmt>22634</ProgramServicesAmt>
        <ManagementAndGeneralAmt>51462</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>73710</TotalAmt>
        <ManagementAndGeneralAmt>73710</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
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        <FundraisingAmt>1993</FundraisingAmt>
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      <FeesForServicesOtherGrp>
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        <FundraisingAmt>7457</FundraisingAmt>
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        <FundraisingAmt>337</FundraisingAmt>
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        <ProgramServicesAmt>41655</ProgramServicesAmt>
        <ManagementAndGeneralAmt>35968</ManagementAndGeneralAmt>
        <FundraisingAmt>3503</FundraisingAmt>
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      <TravelGrp>
        <TotalAmt>76977</TotalAmt>
        <ProgramServicesAmt>56375</ProgramServicesAmt>
        <ManagementAndGeneralAmt>15881</ManagementAndGeneralAmt>
        <FundraisingAmt>4721</FundraisingAmt>
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      <ConferencesMeetingsGrp>
        <TotalAmt>62550</TotalAmt>
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      <DepreciationDepletionGrp>
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        <ProgramServicesAmt>8712</ProgramServicesAmt>
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        <FundraisingAmt>733</FundraisingAmt>
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      <InsuranceGrp>
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        <ProgramServicesAmt>5971</ProgramServicesAmt>
        <ManagementAndGeneralAmt>5156</ManagementAndGeneralAmt>
        <FundraisingAmt>502</FundraisingAmt>
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      <TotalFunctionalExpensesGrp>
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      <SavingsAndTempCashInvstGrp>
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        <EOYAmt>3280533</EOYAmt>
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      <PledgesAndGrantsReceivableGrp>
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        <EOYAmt>346002</EOYAmt>
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      <PrepaidExpensesDefrdChargesGrp>
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        <EOYAmt>25015</EOYAmt>
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      <LandBldgEquipCostOrOtherBssAmt>183656</LandBldgEquipCostOrOtherBssAmt>
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      <LandBldgEquipBasisNetGrp>
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        <EOYAmt>68327</EOYAmt>
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      <InvestmentsPubTradedSecGrp>
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      <AccountsPayableAccrExpnssGrp>
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        <EOYAmt>2003</EOYAmt>
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      <TotalLiabilitiesGrp>
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        <EOYAmt>86796</EOYAmt>
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        <BOYAmt>3502441</BOYAmt>
        <EOYAmt>3668994</EOYAmt>
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      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>8260583</BOYAmt>
        <EOYAmt>9730623</EOYAmt>
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      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>8472358</BOYAmt>
        <EOYAmt>9817419</EOYAmt>
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      <ReconcilationRevenueExpnssAmt>2067159</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>-597119</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>0</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>1952903</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>1943840</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>1602797</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>1391171</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1526209</CurrentTaxYearAmt>
        <TotalAmt>8416920</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>1952903</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>1943840</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>1602797</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>1391171</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1526209</CurrentTaxYearAmt>
        <TotalAmt>8416920</TotalAmt>
      </TotalCalendarYear170Grp>
      <SubstantialContributorsTotAmt>1664171</SubstantialContributorsTotAmt>
      <PublicSupportTotal170Amt>6752749</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>153844</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>155065</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>239236</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>231687</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>150380</CurrentTaxYearAmt>
        <TotalAmt>930212</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <TotalSupportAmt>9347132</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>752770</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.72240</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.67970</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
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    <IRS990ScheduleC documentId="RetDoc1039700001">
      <VolunteersInd>0</VolunteersInd>
      <PaidStaffOrManagementInd>0</PaidStaffOrManagementInd>
      <MediaAdvertisementsInd>0</MediaAdvertisementsInd>
      <MailingsMembersInd>0</MailingsMembersInd>
      <PublicationsOrBroadcastInd>0</PublicationsOrBroadcastInd>
      <GrantsOtherOrganizationsInd>0</GrantsOtherOrganizationsInd>
      <DirectContactLegislatorsInd>1</DirectContactLegislatorsInd>
      <DirectContactLegislatorsAmt>12000</DirectContactLegislatorsAmt>
      <RalliesDemonstrationsInd>0</RalliesDemonstrationsInd>
      <OtherActivitiesInd>0</OtherActivitiesInd>
      <TotalLobbyingExpendituresAmt>12000</TotalLobbyingExpendituresAmt>
      <NotDescribedSection501c3Ind>0</NotDescribedSection501c3Ind>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART II-B, LINE 1:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION'S LOBBYING ACTIVITIES INCLUDED CONTACT WITH LEGISLATORS ABOUT LAND AND WATER CONSERVATION ISSUES ASSOCIATED WITH THE AGRICULTURAL ACT OF 2014 (THE FEDERAL FARM BILL).</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleC>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <LandGrp>
        <OtherCostOrOtherBasisAmt>55900</OtherCostOrOtherBasisAmt>
        <BookValueAmt>55900</BookValueAmt>
      </LandGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>40805</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>39118</DepreciationAmt>
        <BookValueAmt>1687</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>86951</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>76211</DepreciationAmt>
        <BookValueAmt>10740</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>68327</TotalBookValueLandBuildingsAmt>
      <TotalRevEtcAuditedFinclStmtAmt>3737862</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>-597119</NetUnrealizedGainsInvstAmt>
      <DonatedServicesAndUseFcltsAmt>16675</DonatedServicesAndUseFcltsAmt>
      <RevenueNotReportedAmt>-580444</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>4318306</RevenueSubtotalAmt>
      <RevenueNotReportedFinclStmtAmt>0</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>4318306</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>2267822</TotExpnsEtcAuditedFinclStmtAmt>
      <DonatedServicesUseFcltsAmt>16675</DonatedServicesUseFcltsAmt>
      <ExpensesNotReportedAmt>16675</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>2251147</ExpensesSubtotalAmt>
      <ExpensesNotRptFinclStmtAmt>0</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>2251147</TotalExpensesPerForm990Amt>
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    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MADISON METROPOLITAN SEWERAGE DISTRICT</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>1610 MOORLAND RD</AddressLine1Txt>
          <CityNm>MADISON</CityNm>
          <StateAbbreviationCd>WI</StateAbbreviationCd>
          <ZIPCd>537133324</ZIPCd>
        </USAddress>
        <RecipientEIN>396005509</RecipientEIN>
        <IRCSectionDesc>CITY OF MADISON</IRCSectionDesc>
        <CashGrantAmt>30000</CashGrantAmt>
        <PurposeOfGrantTxt>AG INCENTIVE PROJECTS</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>FLYING DIAMOND RANCH</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>PO BOX 345</AddressLine1Txt>
          <CityNm>KIT CARSON</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
          <ZIPCd>808250345</ZIPCd>
        </USAddress>
        <RecipientEIN>841386116</RecipientEIN>
        <CashGrantAmt>10000</CashGrantAmt>
        <PurposeOfGrantTxt>LCA MONETARY AWARD</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>JORGENSON LAND &amp; CATTLE</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>31250 265TH ST</AddressLine1Txt>
          <CityNm>IDEAL</CityNm>
          <StateAbbreviationCd>SD</StateAbbreviationCd>
          <ZIPCd>575416715</ZIPCd>
        </USAddress>
        <RecipientEIN>460454975</RecipientEIN>
        <CashGrantAmt>10000</CashGrantAmt>
        <PurposeOfGrantTxt>LCA MONETARY AWARD</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>KING RANCH COMPANY LP</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>10333 HAPPY JACK RD</AddressLine1Txt>
          <CityNm>CHEYENNE</CityNm>
          <StateAbbreviationCd>WY</StateAbbreviationCd>
          <ZIPCd>820098018</ZIPCd>
        </USAddress>
        <RecipientEIN>830329954</RecipientEIN>
        <CashGrantAmt>10000</CashGrantAmt>
        <PurposeOfGrantTxt>LCA MONETARY AWARD</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MEUER FARM LLC</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
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          <CityNm>CHILTON</CityNm>
          <StateAbbreviationCd>WI</StateAbbreviationCd>
          <ZIPCd>530149026</ZIPCd>
        </USAddress>
        <RecipientEIN>451845537</RecipientEIN>
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        <PurposeOfGrantTxt>LCA MONETARY AWARD</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
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          <CityNm>LOMIRA</CityNm>
          <StateAbbreviationCd>WI</StateAbbreviationCd>
          <ZIPCd>530489373</ZIPCd>
        </USAddress>
        <RecipientEIN>453548264</RecipientEIN>
        <CashGrantAmt>29562</CashGrantAmt>
        <PurposeOfGrantTxt>AG INCENTIVE PROJECTS</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>W F GORING &amp; SON</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>9940 N HIGHWAY 38</AddressLine1Txt>
          <CityNm>DEWEYVILLE</CityNm>
          <StateAbbreviationCd>UT</StateAbbreviationCd>
          <ZIPCd>843099729</ZIPCd>
        </USAddress>
        <RecipientEIN>870293560</RecipientEIN>
        <CashGrantAmt>10000</CashGrantAmt>
        <PurposeOfGrantTxt>LCA MONETARY AWARD</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>THEODORE ROOSEVELT CONSERVATION PARTNERSHIP</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>1660 L ST NW STE 208</AddressLine1Txt>
          <CityNm>WASHINGTON</CityNm>
          <StateAbbreviationCd>DC</StateAbbreviationCd>
          <ZIPCd>200365642</ZIPCd>
        </USAddress>
        <RecipientEIN>043706385</RecipientEIN>
        <IRCSectionDesc>501(C)(3)</IRCSectionDesc>
        <CashGrantAmt>25000</CashGrantAmt>
        <PurposeOfGrantTxt>RARE SPECIES PUBLICATION</PurposeOfGrantTxt>
      </RecipientTable>
      <Total501c3OrgCnt>2</Total501c3OrgCnt>
      <TotalOtherOrgCnt>6</TotalOtherOrgCnt>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>LEOPOLD CONSERVATION AWARDS GIVEN TO INDIVIDUALS WHO EXEMPLIFY EXTRAORDINARY ACHIEVEMENTS IN PRIVATE LAND CONSERVATION</GrantTypeTxt>
        <RecipientCnt>6</RecipientCnt>
        <CashGrantAmt>50000</CashGrantAmt>
      </GrantsOtherAsstToIndivInUSGrp>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>PAYMENTS TO INDIVIDUAL FARMERS FOR AGRICULTURAL INCENTIVES PROGRAM</GrantTypeTxt>
        <RecipientCnt>1</RecipientCnt>
        <CashGrantAmt>9081</CashGrantAmt>
      </GrantsOtherAsstToIndivInUSGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SAND COUNTY FOUNDATION REGULARLY MONITORS THE USE OF GRANT FUNDS BY REVIEWING REPORTS SUBMITTED BY GRANT RECIPIENTS AND CONDUCTING SITE VISITS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PREPARED FORM 990 IS SENT TO ALL DIRECTORS FOR REVIEW APPROXIMATELY ONE WEEK PRIOR TO FILING THE RETURN WITH THE IRS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>ANNUALLY ALL DIRECTORS AND OFFICERS COMPLETE AND SIGN A STATEMENT THAT PROVIDES INFORMATION REGARDING THEIR INTERESTS AND THOSE OF THEIR FAMILY MEMBERS THAT COULD GIVE RISE TO CONFLICTS. THE MEMBERS OF THE GOVERNING BODY MAKE DETERMINATIONS OF WHETHER A CONFLICT EXISTS AND REVIEW ACTUAL CONFLICTS. ANY PERSON WITH A CONFLICT IS PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN THE TRANSACTION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE EXECUTIVE CHAIRMAN'S COMPENSATION WAS EVALUATED IN 2014 USING DATA ON COMPENSATION PAID BY SIMILAR ORGANIZATIONS AND ADJUSTED BY ACTION OF THE GOVERNING BODY TO BE MORE CONSISTENT WITH INDUSTRY AVERAGES. IN 2015 THE EXECUTIVE CHAIRMAN'S COMPENSATION AND THE PRESIDENT'S COMPENSATION WERE INDEPENDENTLY EVALUATED AGAINST COMPENSATION PAID BY COMPARABLE INSTITUTIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST TO THE EXTENT APPROPRIATE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>CONSERVATION CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 548,359. MANAGEMENT AND GENERAL EXPENSES 19,837. FUNDRAISING EXPENSES 35,375. TOTAL EXPENSES 603,571.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>