2015-10-15T10:37:46-05:00 2014-12-31 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2014-01-01 521053406 OPEN SPACE INSTITUTE INC OPEN 2122908200 1350 BROADWAY NO 201 NEW YORK NY 100187799 ROBERT K ANDERBERG ESQ VP & GENERAL COUNSEL 2122908200 2015-10-15 1 LYONS ROBERT P00227472 2125038800 2014 2016-02-25 16:41:14Z CHRISTOPHER J ELLIMAN 1350 BROADWAY NO 201 NEW YORK NY 100187799 2183657 0 X WWW.OSINY.ORG X 1974 NY TO PROTECT SCENIC, NATURAL AND HISTORIC LANDSCAPES. 28 27 40 28 0 0 4458958 1851500 180257 176787 26625 5064 136121 121606 4801961 2154957 3706264 1305786 0 0 844024 318575 0 0 37642 2262310 1089167 6812598 2713528 -2010637 -558571 5983243 5383971 1568275 1494411 4414968 3889560 X OPEN SPACE INSTITUTE PROTECTS SCENIC, NATURAL AND HISTORIC LANDSCAPES TO ENSURE PUBLIC ENJOYMENT, CONSERVE HABITATS AND SUSTAIN COMMUNITY CHARACTER. 0 1 2402190 1220081 176787 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. 89203 85705 THE ORGANIZATION HAS AN ENVIRONMENTAL EDUCATION PROGRAM WHICH INCLUDES BOTH THE MALCOLM GORDON CHARITABLE FUND WHICH MAKES GRANTS TO LOCAL ORGANIZATIONS FOR ENVIRONENTAL EDUCATION PROGRAMS AND THE BARNABUS MCHENRY HUDSON RIVER VALLEY AWARDS PROGRAM WHICH ANNUALLY GRANTS FUNDS TO 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. IN 2014, OSILT PROTECTED 1,060 ACRES HAVING A FAIR MARKET VALUE OF $5.4 MILLION. IN ADDITION, OSILT MADE 27 GRANTS AND 4 LOANS, TOTALING $7.5 MILLION, RESULTING IN THE PROTECTION OF 16,042 ACRES IN 12 STATES AND PROVINCES WITH A FAIR MARKET VALUE OF $25 MILLION. REFER TO THE OSILT FORM 990 FOR A FURTHER DESCRIPTION OF OSILT'S MISSION AND SIGNIFICANT ACTIVITIES. 2491393 1 1 0 1 0 0 1 0 0 1 1 0 0 0 0 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 1 198 0 40 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 JOHN H ADAMS CHAIRMAN 3.00 3.00 X X 0 0 0 PETER A BIENSTOCK VICE-CHAIR 3.00 3.00 X X 0 0 0 CAROLINE NIEMCZYK VICE-CHAIR 3.00 3.00 X X 0 0 0 ELIZABETH BORDEN 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 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 T JEFFERSON CUNNINGHAM III BOARD MEMBER 3.00 3.00 X 0 0 0 J MATTHEW DAVIDSON BOARD MEMBER 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 JEREMY GUTH 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 AMELIA SALZMAN 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 DOUGLAS BATESON BOARD MEMBER 3.00 3.00 X 0 0 0 ELIZABETH SMITH BOARD MEMBER 3.00 3.00 X 0 0 0 CHRISTOPHER ELLIMAN PRESIDENT & CEO 0.20 34.80 X 516 420712 64991 PETER HOWELL EXECUTIVE VP, CONSERVATION CAPITAL 1.50 33.50 X 0 229186 36818 ROBERT K ANDERBERG VP & GENERAL COUNSEL 2.30 32.70 X 2922 200755 36300 ALICE GLEASON SENIOR VP, FINANCE & CFO 7.00 28.00 X 0 188369 35064 JOSEPH HOLLAND ASSISTANT TREASURER & CONTROLLER 0.60 34.40 X 0 111574 10661 SAMAYLA DEUTCH VP & ASSOCIATE GENERAL COUNSEL 0.80 34.20 X 4826 169345 33605 TALLY BLUMBERG SENIOR VP OF PROGRAMS 2.70 32.30 X 3209 189304 40586 ERIK KULLESEID VP, DIR. ALLIANCE FOR NYS PARKS 0.00 35.00 X 0 184403 42903 TERRENCE NOLAN SENIOR VP, CONSERVATION TRANSACTIONS 0.00 35.00 X 0 186069 41040 JENNIFER MELVILLE VP, CONSERVATION GRANTS & LOANS 0.30 34.70 X 0 106280 31397 NATE BERRY VICE PRESIDENT 0.00 35.00 X 0 98448 35580 JEAN CHEN ASST. SEC. & ASSOCIATE COUNSEL 6.10 28.90 X 3892 131614 29793 SUSAN BARBARISI ASST. SECRETARY & DIR. OF ADMIN. 0.20 34.80 X 56 82305 13789 15421 2298364 452527 0 0 1 0 0 136150 47381 1667969 1851500 SERVICE INCOME 900099 90695 90695 MANAGEMENT FEES 900099 69432 69432 ADMISSION FEES 900099 16660 16660 176787 4300 4300 38763 0 38763 38763 38763 764 0 764 764 764 28700 136150 28700 0 MISCELLANEOUS 900099 82843 82843 82843 2154957 176787 0 126670 X 1305786 1305786 318575 302646 15929 48153 36686 11467 14418 14418 482367 465437 16930 32732 25497 7235 33206 21385 11821 28551 24929 3622 5870 5870 48184 40895 6760 529 96311 96311 3481 3481 MISCELLANEOUS 174159 137046 0 37113 PROGRAM MANAGEMENT FEES 67598 67598 PROPERTY MAINTENANCE 54137 54137 2713528 2491393 184493 37642 3175 278 2877085 2498111 57532 51055 532876 526284 2471974 2027050 541235 444924 1971340 1863319 5983243 5383971 1567075 1494411 1200 1568275 1494411 X 1142329 1508027 3272639 2381533 4414968 3889560 5983243 5383971 -558571 33163 0 X X 0 1 X 1 0 X 13100132 14269485 4006255 4458958 1851500 37686330 13100132 14269485 4006255 4458958 1851500 37686330 37686330 489077 121666 96771 90777 43063 841354 288289 32530 16413 59082 82483 478797 39006481 690276 0.96620 0.94250 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 117937 0 193258 0 311195 2713528 20203230 2713528 20514425 285676 1000000 71419 250000 0 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 394248 242187 295769 311195 1243399 250000 250000 250000 250000 1000000 1500000 122278 121227 171046 117937 532488 X X X X 0 0.00 0 0 1 1 1 168178313 4673201 8703105 164148409 155092616 21719924 8634227 168178313 141803316 21817706 8528406 155092616 144825486 1454134 4476304 141803316 133520698 16083197 4778409 144825486 1.00000 0 1 1 2203701 1768606 435095 85785 82964 2821 182488 175480 7008 444924 X PART II, LINE 9: PURCHASED EASEMENTS THAT HAVE A RESALE VALUE ARE RECORDED AT THE LOWER OF COST OR MARKET. DONATED EASEMENTS THAT HAVE A RESALE VALUE ARE RECORDED AT THE LOWER OF THE DONATED VALUE OR MARKET. CONSERVATION EASEMENTS DETERMINED BY OSI TO HAVE NO RESALE VALUE ARE WRITTEN DOWN TO A $1 CARRYING VALUE. PART V, LINE 4: THE WALLACE ENDOWMENT IS HELD BY OPEN SPACE INSTITUTE LAND TRUST, INC., A SUPPORTING ORGANIZATION OF OSI, AND IS INTENDED TO BE 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 WHO ESTABLISHED A TRUST REQUIRED THAT THE FUNDS BE DEVOTED TO ENVIRONMENTAL EDUCATION GRANTS. AFTER THE TRUST WAS DISSOLVED IN AUGUST 2012, THE ORGANIZATION CONTINUED TO CONSIDER THESE FUNDS TO BE TEMPORARILY RESTRICTED. PART X, LINE 2: THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2014 AND 2013 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. WITH FEW EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEAR ENDED DECEMBER 31, 2011 AND PRIOR YEARS. ANNUAL LUNCH 164850 136150 28700 1750 11144 6331 9475 164850 136150 28700 1750 11144 6331 9475 28700 0 1 ABINGDON SQUARE ALLIANCE 302 W 12TH ST FMT 3 NEW YORK NY 10014 800242514 501(C)(3) 19723 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT BIOCITIES INC 161 CHRYSTIE STREET NEW YORK NY 10002 800760763 501(C)(3) 13871 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT CARY INSTITUTE 2801 SHARON TURNPIKE MILLBROOK NY 12545 223232968 501(C)(3) 10000 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION CENTER FOR RURAL AFFAIRS 145 MAIN ST LYONS NE 68038 470553823 501(C)(3) 10000 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT COMMUNITY PARTNERS 100 NORTH ALAMEDA STREET LOS ANGELES CA 90012 954302067 501(C)(3) 60000 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT CONSTITUTION MARSH AUDUBON CENTER 127 WARREN LANDING RD GARRISON NY 10524 131624102 501(C)(3) 10005 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION CORBIN HILL FOOD PROJECT 119 WEST 120TH ST NEW YORK NY 10027 461206478 501(C)(3) 108674 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT EARTH MATTER NY INC 179 RIVINGTON STREET 4A NEW YORK NY 10002 270625845 501(C)(3) 8384 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT NEW YORK CITY ENERGY EFFICIENCY CORPORATION 1359 BROADWAY 19TH FLOOR NEW YORK NY 10018 273731338 501(C)(3) 50000 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT ESSEX FARM INSTITUTE 2503 NY 22 ESSEX NY 12936 471368012 501(C)(3) 57836 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT FRIENDS OF FAHNESTOCK & HUDSON HIGHLANDS STATE PARKS PO BOX 194 COLD SPRING NY 10516 260792530 501(C)(3) 12000 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION HUDSON HIGHLANDS NATURE MUSEUM 120 MUSER DR CORNWALL NY 12518 141470087 501(C)(3) 6700 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION LICAN NEW YORK AVE LOWNDES AVE HUNTINGTON STATION NY 11746 112687442 501(C)(3) 23864 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT MOHONK PRESERVE 3197 ROUTE 44 55 GARDINER NY 12525 141609484 501(C)(3) 7000 N/A N/A MALCOLM GORDON CHARITABLE FUND - ENVIRONMENTAL EDUCATION PRESERVATION LEAGUE OF NYS 44 CENTRAL AVE ALBANY NY 12206 237379938 501(C)(3) 5750 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARD RONDOUT VALLEY GROWERS ASSOCIATION PO BOX 867 STONE RIDGE NY 12484 472217833 501(C)(3) 5750 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARD SHAKER HERITAGE SOCIETY 25 MEETING HOUSE RD ALBANY NY 12211 222186087 501(C)(3) 5750 N/A N/A MCHENRY HIDSON RIVER VALLEY AWARD SUSTAINABLE MARKETS FOUNDATION 45 W 36TH ST 6TH FLOOR NEW YORK NY 10018 134188834 501(C)(3) 492882 N/A N/A CITIZEN ACTION GROUP SUPPORT GRANT THOMAS COLE HISTORIC HOUSE 218 SPRING ST CATSKILL NY 12414 270599147 501(C)(3) 5750 N/A N/A MCHENRY HUDSON RIVER VALLEY AWARD 19 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 516 420712 0 0 0 0 42 33949 38 30962 596 485623 0 0 PETER HOWELL EXECUTIVE VP, CONSERVATION CAPITAL 0 229186 0 0 0 0 0 18494 0 18324 0 266004 0 0 ROBERT K ANDERBERG VP & GENERAL COUNSEL 2922 200755 0 0 0 0 236 16200 285 19579 3443 236534 0 0 ALICE GLEASON SENIOR VP, FINANCE & CFO 0 188369 0 0 0 0 0 15200 0 19864 0 223433 0 0 SAMAYLA DEUTCH VP & ASSOCIATE GENERAL COUNSEL 4826 169345 0 0 0 0 389 13665 542 19009 5757 202019 0 0 TALLY BLUMBERG SENIOR VP OF PROGRAMS 3209 189304 0 0 0 0 209 12354 467 27556 3885 229214 0 0 ERIK KULLESEID VP, DIR. ALLIANCE FOR NYS PARKS 0 184403 0 0 0 0 0 14880 0 28023 0 227306 0 0 TERRENCE NOLAN SENIOR VP, CONSERVATION TRANSACTIONS 0 186069 0 0 0 0 0 13017 0 28023 0 227109 0 0 JEAN CHEN ASST. SEC. & ASSOCIATE COUNSEL 3892 131614 0 0 0 0 52 1770 803 27168 4747 160552 0 0 STEPHEN CLEARMAN SEE PART V 208750 SEE PART V 0 SCHEDULE L, PART IV: STEPHEN CLEARMAN, AN OSI/OSILT BOARD MEMBER, IS ALSO A MANAGING PARTNER OF KINDERHOOK, L.P. IN WHICH OSI/OSILT IS AN INVESTOR. MANAGEMENT FEES PAID BY OSI/OSILT TO KINDERHOOK, L.P. DURING THE YEAR ENDED DECEMBER 31, 2014 AMOUNTED TO $208,750. FORM 990, PART III, LINE 3 DURING 2013, SEVERAL OVERLAPPING PROGRAMS OF THE OPEN SPACE INSTITUTE, INC. ("OSI") WERE TRANSFERRED TO THE OPEN SPACE INSTITUTE LAND TRUST, INC. ("OSILT") A SUPPORTING ORGANIZATION OF OSI, TO CONSOLIDATE SIMILAR PROGRAMS INTO ONE ENTITY WHICH RESULTED IN THE TRANSFER OF $3,356,855 OF NET ASSETS FROM ONE ORGANIZATION TO THE OTHER. THE CORRESPONDING REVENUE AND EXPENSES RELATE TO THOSE TRANSFERRED PROGRAMS ARE NOW BEING REPORTED ON THE FORM 990 OF OSILT. 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 THE 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. ONCE A CONFLICT OR POTENTIAL CONFLICT HAS BEEN DISCLOSED, THE INTERESTED PERSON MAY NOT DISCUSS THE TRANSACTION THAT IS THE BASIS OF SUCH CONFLICT, AND MUST RECUSE HIMSELF OR HERSELF FROM ANY 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 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 OUR ORGANIZATION AND REQUESTS SUCH INFORMATION. FORM 990, PART IX, LINE 11G CITAC CONSULTANT FEES: PROGRAM SERVICE EXPENSES 442,904. MANAGEMENT AND GENERAL EXPENSES 16,930. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 459,834. CITAC EDUCATIONAL FEES: PROGRAM SERVICE EXPENSES 22,533. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,533. 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 918788 ALLOCATED EXPENSES OPEN SPACE INSTITUTE LAND TRUST INC O 5565475 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 117937 193258 311195 0 311195 62239 15560 102377 248956 0