2015-04-22T10:29:33-05:00 2014-12-31 041617630 MEYER REGAN & WILNER LLP PO BOX 831 FALL RIVER MA 027220831 990 2014-01-01 237113649 DARTMOUTH NATURAL RESOURCES TRUST INC DART 5089912289 404 ELM STREET DARTMOUTH MA 02748 CLIFTON RICE PRESIDENT 5089912289 2015-04-07 1 MELISSA B KENYON P01272045 5086796451 2014 2016-02-25 16:41:14Z CLIFTON RICE 404 ELM STREET DARTMOUTH MA 02748 2484967 0 X WWW.DNRT.ORG X 1971 MA TO PRESERVE AND PROTECT DARTMOUTH'S NATURAL RESOURCES FOR PEOPLE AND NATURE, FOREVER. 20 20 7 110 0 0 1111110 1111771 0 0 219809 278562 7104 44621 1338023 1434954 0 0 0 0 242017 258376 0 0 20533 795393 593194 1037410 851570 300613 583384 4855896 5451622 129477 20587 4726419 5431035 TO PRESERVE AND PROTECT DARTMOUTH'S NATURAL RESOURCES FOR PEOPLE AND NATURE, FOREVER. 0 0 712070 PROTECT WILDLIFE HABITAT, OPEN SPACE AND OTHER NATURAL RESOURCES THROUGH LAND ACQUISITION, LAND MANAGEMENT AND COMMUNITY EDUCATION. 712070 1 1 0 0 0 0 1 0 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 18 0 7 1 0 0 0 0 0 1 1 0 0 0 0 X 20 20 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X DEXTER MEAD EXECUTIVE DIRECTOR 5089912289 404 ELM STREET DARTMOUTH MA 02748 LISA BERGSON DIRECTOR 3.00 X 0 0 0 DIANE CAMACHO DIRECTOR 7.00 X 0 0 0 ROBERT FEINGOLD DIRECTOR 3.00 X 0 0 0 JAMES FORBUSH DIRECTOR 3.00 X 0 0 0 PEGGY GILDERSLEEVE DIRECTOR 3.00 X 0 0 0 KATHRYN GOLLUB DIRECTOR 7.00 X 0 0 0 FELICITY FORBES HOYT DIRECTOR 3.00 X 0 0 0 MIKE HUMPHREY DIRECTOR 7.00 X 0 0 0 SUSIE JENKINS DIRECTOR 7.00 X 0 0 0 LYN KEITH DIRECTOR 3.00 X 0 0 0 GRETCHEN KNOWLTON DIRECTOR 3.00 X 0 0 0 ROBERT LADD DIRECTOR 3.00 X 0 0 0 HAVEN ROOSEVELT DIRECTOR 7.00 X 0 0 0 LARRY SHWARTZ DIRECTOR 3.00 X 0 0 0 CLIFFORD TRACY DIRECTOR 3.00 X 0 0 0 ROBERT TRUSLOW PAST PRESIDENT/DIRECTOR 7.00 X X 0 0 0 CLIFTON RICE PAST VICE PRESIDENT/PRESIDENT 7.00 X X 0 0 0 LORRAINE GRANDA PAST DIRECTOR/VICE PRESIDENT 7.00 X X 0 0 0 JOHN BERMINGHAM SECRETARY 7.00 X X 0 0 0 STEVEN SHUSTER TREASURER 7.00 X X 0 0 0 DEXTER MEAD EXECUTIVE DIRECTOR 40.00 X 63635 0 15529 63635 0 15529 0 0 0 0 0 121178 15905 974688 14580 1111771 132567 132567 1179079 1033084 145995 145995 145995 58345 15905 15410 42935 42935 3205 1519 1686 1686 1434954 1686 0 321497 X 80032 57623 18407 4002 158981 111110 37917 9954 19363 13665 4565 1133 40768 40768 10369 10369 30390 30390 183321 181906 1253 162 28232 19691 8574 -33 3925 3000 925 1692 1692 15102 11496 3561 45 LAND IMPAIRMENT 215000 215000 LAND MGMT EXPENSES 31980 31980 OUTREACH EXPENSES 20835 20835 OTHER SPECIAL EVENT EXP 5270 5270 6310 3304 3006 851570 712070 118967 20533 280112 285822 7406 6607 41550 23450 1402 659973 41986 609132 617987 3274459 3886291 643237 630063 4855896 5451622 129477 20587 129477 20587 X 3555765 4424871 425731 274415 744923 731749 4726419 5431035 4855896 5451622 X 583384 134406 -13174 X X 0 1 X 1 0 X 888635 302132 838240 1111110 1111771 4251888 888635 302132 838240 1111110 1111771 4251888 1051868 3200020 87639 96086 146940 136875 132567 600107 -529 5257 1126 6414 42935 55203 4907198 20745 0.65210 0.64600 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 48 1251.00 1 1 1 300.00 1500 3274459 614580 384600 358209 29166 3886264 2943876 33902 522925 200000 26244 3274459 2655355 63433 251119 26031 2943876 2751428 35230 -106819 24484 2655355 2015871 516506 219051 2751428 0.96980 0.02620 0.00400 1 0 511300 511300 85000 85000 38331 27191 11140 14795 14795 0 10547 10547 617987 BENEFICIAL INTEREST IN PERPETUAL TRUST 630063 630063 X 1580115 134406 7000 3755 145161 1434954 0 1434954 875499 7000 16929 23929 851570 0 851570 PART II, LINE 3: ONE CONSERVATION RESTRICTION HELD BY THE ORGANIZATION SPECIFICALLY STATED THAT IT WAS NOT ENFORCEABLE AGAINST ANY "SUCCESSORS IN TITLE". IN 2014 THE ORGANIZATION LEARNED THAT THE PROPERTY HAD BEEN TRANSFERRED FROM A CORPORATION TO A TRUST, THUS THE RESTRICTION IS NO LONGER ENFORCEABLE, AND THUS TERMINATED. PART II, LINE 9: THE ORGANIZATION VALUES ITS EASEMENTS AT ZERO DOLLARS. PART V, LINE 4: BOARD DESIGNATED ENDOWMENT - FUNDS INTENDED FOR ANNUAL COSTS ASSOCIATED WITH LAND MANAGEMENT ACTIVITIES, LAND ACQUISITION, AWARENESS AND EDUCATION, CONSERVATION, LEGAL DEFENSE, EMERGENCY CLEAN-UPS, RESTORATION AND MANAGEMENT OF CERTAIN PROPERTIES AND GENERAL MAINTENANCE OF THE OFFICE BUILDING. TERM ENDOWMENT - FUNDS INTENDED FOR MAINTENANCE, MANAGEMENT AND RESTORATION OF CERTAIN PROPERTIES, CERTAIN LAND ACQUISITION PROJECTS, FARMLAND PROTECTION PROJECTS AND STUDIES CONCERNING AGRICULTURE. PERMANENT ENDOWMENT - FUNDS INTENDED FOR CONSERVATION, MAINTENANCE, MANAGEMENT AND IMPROVEMENT OF CERTAIN PROPERTIES. PART X, LINE 2: DNRT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. UNRELATED BUSINESS INCOME, OF WHICH DNRT HAS NONE, WOULD BE SUBJECT TO FEDERAL AND STATE INCOME TAXES. CONSEQUENTLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT ANY PROVISION FOR INCOME TAXES. IN ADDITION, DNRT QUALIFIES FOR THE CHARITABLE ORGANIZATION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). FASB ASC 740-10-25 REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE LIKELY THAN NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. DNRT DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS. DNRT'S FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR 3 YEARS AFTER THEY ARE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 15,410. PRODUCT SALES - COGS 1,519. REVALUATION ADJUSTMENT OF BENEFICIAL INTEREST IN PERPETUAL TRUST -13,174. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 15,410. PRODUCT SALES - COGS 1,519. PART II, LINE 9 THE ORGANIZATION SHALL UNDERTAKE REGULAR MONITORING VISITS AT A RATE OF NO LESS THAN ONE VISIT PER YEAR. THE INSPECTION WILL TAKE PLACE AFTER THE LANDOWNERS HAVE BEEN GIVEN WRITTEN NOTICE AND INVITED TO ACCOMPANY THE MONITOR. MONITORING INSPECTION REPORTS WILL BE FILED IN THE BASELINE DOCUMENTATION FOLDER (BDF) FOR THE RESPECTIVE CONSERVATION RESTRICTION (CR) IN THE ORGANIZATION'S FILES, AS WELL AS THE BDF OFF-SITE. LANDOWNERS WILL BE PROVIDED WITH A COPY OF THE REPORT ONLY IN THE EVENT THERE IS A VIOLATION CONFIRMED BY THE LAND MANAGER. ANY SUBSEQUENT NEW LANDOWNERS OF THE CR WILL BE INTRODUCED TO THE ORGANIZATION, ITS POLICIES AND THE TERMS OF THE CR. THE ORGANIZATION WILL PROVIDE A NEW COPY OF THE BDF TO THE LANDOWNER IF IT WAS NOT PROVIDED BY THE PREVIOUS OWNER. PART II, LINE 9 THE ORGANIZATION WILL ENFORCE THE TERMS OF ITS CONSERVATION RESTRICTIONS AND TAKE NECESSARY STEPS TO SEE THAT VIOLATIONS ARE REMEDIED. ALL SUSPECTED VIOLATIONS WILL BE REPORTED TO THE LAND MANAGER, WHO WILL CAREFULLY REVIEW THE CR. IF THE SUSPECTED VIOLATION CAN BE ASSESSED WITHOUT ACCESSING THE PROPERTY, THEN STAFF SHALL ASSESS THE VIOLATION PRIOR TO CONTACTING THE LANDOWNER. IF IT IS NECESSARY TO ACCESS THE PROPERTY, THE LAND MANAGER WILL CONTACT THE LANDOWNER FOR AN INITIAL SITE VISIT TO ASSESS THE VIOLATION. THE VISIT WILL BE DOCUMENTED WITH DETAILED NOTES AND PHOTOS. IF STAFF DETERMINES THAT A MAJOR VIOLATION EXISTS, THE VIOLATION WILL BE DISCUSSED WITH LAND MANAGEMENT COMMITTEE CHAIR AND BROUGHT TO THE ATTENTION OF THE LAND MANAGEMENT COMMITTEE AND BOARD OF DIRECTORS. REQUIRED CORRECTIONS AND DEADLINES FOR COMPLIANCE WILL BE DETERMINED. MINOR AND TECHNICAL VIOLATIONS WILL BE HANDLED BY THE LAND MANAGER IN CONSULATION WITH THE EXECUTIVE DIRECTOR. LANDOWNERS WILL THEN BE NOTIFIED REGARDING THE VIOLATION BY (I) A PHONE CALL AND/OR PERSONAL VISIT DESCRIBING THE VIOLATION, REQUESTING CORRECTIVE ACTION, AND DISCUSSING A DEADLINE FOR COMPLIANCE; (II) A FOLLOW-UP LETTER, REITERATING THE CONVERSATION; AND (III) ANOTHER MEETING WITH THE LANDOWNER, IF NECESSARY. IF INITIAL CONTACTS WITH LANDOWNER RESULT IN NON-COMPLIANCE, THE DNRT BOARD WILL BE NOTIFIED AND ASSIST WITH DETERMINING A NEW RESPONSE TO LANDOWNER. BARN BASH 72180 15905 56275 2548 11112 1750 72180 15905 56275 2548 11112 1750 15410 40865 X 2 0 N/A 0 1 1 PART I, LINE 32B: THE TRUST'S INVESTMENT ADVISORS RECEIVE AND SELL SECURITIES DONATED TO THE TRUST. PART I, LINE 33: "QUALIFIED CONSERVATION CONTRIBUTIONS" INCLUDE 1 CONSERVATION EASEMENT. THERE WERE NO REVENUES REPORTED BECAUSE CONSERVATION EASEMENTS HAVE NO MARKET VALUE FOR THE GRANTEE. FORM 990, PART VI, SECTION A, LINE 2 TWO DIRECTORS ARE SISTERS. FORM 990, PART VI, SECTION A, LINE 6 ALL INTERESTED PERSONS MAY BECOME MEMBERS UPON PAYMENT OF ANNUAL MEMBERSHIP DUES. BOARD MEMBERS AND OFFICERS (THE "GOVERNING BODY") ARE ELECTED BY MEMBERS AT THE ANNUAL MEETING OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ALL INTERESTED PERSONS MAY BECOME MEMBERS UPON PAYMENT OF ANNUAL MEMBERSHIP DUES. BOARD MEMBERS AND OFFICERS ARE ELECTED BY MEMBERS AT THE ANNUAL MEETING OF MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND OFFICE MANAGER, THEN REVIEWED AND APPROVED BY THE FINANCE COMMITTEE AND THEN THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE CONFLICT OF INTEREST POLICY IS REVIEWED AND EXPLAINED TO EACH MEMBER OF THE BOARD OF DIRECTORS AND EACH STAFF MEMBER, EACH INDICATES WITH A SIGNATURE THAT THEY UNDERSTAND AND WILL COMPLY WITH THE POLICY. THROUGHOUT THE YEAR, THE BOARD AND STAFF REVIEW TRANSACTIONS TO ENSURE COMPLIANCE WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15A ANNUALLY, THE EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED BY THE FINANCE COMMITTEE (WITHOUT THE EXECUTIVE DIRECTOR PRESENT) AND COMPARED TO COMPENSATION RECEIVED BY THOSE IN SIMILAR POSITIONS AT LOCAL ORGANIZATIONS AS WELL AS ORGANIZATIONS THROUGHOUT THE COUNTRY (USING THE LAND TRUST ALLICANCE SALARY SURVEYS). THE COMMITTEE THEN MAKES A RECOMMENDATION TO THE FULL BOARD OF DIRECTORS WHICH VOTES ON THE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE ONLINE VIA THE SECRETARY FOR THE COMMONWEALTH OF MASSACHUSETTS CORPORATE DATABASE. THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE AVAILABLE THROUGHT GUIDESTAR.ORG AND THE COMMONWEALTH OF MASSACHUSETTS DIVISION OF PUBLIC CHARITIES. ALL DOCUMENTS ARE ALSO AVAILABLE TO THE PUBLIC UPON REQUEST IN WRITING OR IN PERSON. FORM 990, PART IX, LINE 11G LAND MANAGEMENT - ENGINEERING AND RESTORATION SERVICES: PROGRAM SERVICE EXPENSES 117,529. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 117,529. OTHER PROFESSIONAL FEES RELATING TO LAND ACQUISITION: PROGRAM SERVICE EXPENSES 57,639. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 57,639. OTHER PROFESSIONAL : PROGRAM SERVICE EXPENSES 6,399. MANAGEMENT AND GENERAL EXPENSES 1,140. FUNDRAISING EXPENSES 134. TOTAL EXPENSES 7,673. WEBSITE: PROGRAM SERVICE EXPENSES 339. MANAGEMENT AND GENERAL EXPENSES 113. FUNDRAISING EXPENSES 28. TOTAL EXPENSES 480. FORM 990, PART XI, LINE 9: REVALUATION ADJUSTMENT OF BENEFICIAL INTEREST IN PERPETUAL TRUST -13,174. FORM 990, PART XII, LINE 2C: THE FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS POLICY HAS NOT CHANGED FROM THE PRIOR YEAR.