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        <BusinessNameLine1>DAVIS &amp; HODGDON ASSOCIATES CPAS PLC</BusinessNameLine1>
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        <AddressLine1>33 BLAIR PARK RD STE 201</AddressLine1>
        <City>WILLISTON</City>
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        <BusinessNameLine1>LAKE CHAMPLAIN COMMUNITY SAILING</BusinessNameLine1>
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        <AddressLine1>PO BOX 64818</AddressLine1>
        <City>BURLINGTON</City>
        <State>VT</State>
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        <City>BURLINGTON</City>
        <State>VT</State>
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      <StateLegalDomicile>VT</StateLegalDomicile>
      <ActivityOrMissionDescription>THE LAKE CHAMPLAIN COMMUNITY SAILING CENTER (CSC) ENCOURAGES AND CELEBRATES THE RESPONSIBLE USE AND LONG TERM STEWARDSHIP OF LAKE CHAMPLAIN BY FOSTERING EDUCATIONAL AND RECREATIONAL OPPORTUNITIES FOR ALL MEMBERS OF OUR COMMUNITY. THE CSC IS COMMITTED TO ELIMINATING BARRIERS THAT PREVENT ACCESS TO LAKE CHAMPLAIN, OFFERS EXPERIENTIAL EDUCATION FOR WHICH COURAGE AND LEADERSHIP SKILLS CAN BE DEVELOPED AND PROVIDES AN INCLUSIVE ENVIRONMENT FOR ALL PEOPLE TO LEARN SAILING AND PADDLING.</ActivityOrMissionDescription>
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      <TotalNbrEmployees>31</TotalNbrEmployees>
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      <MissionDescription>THE LAKE CHAMPLAIN COMMUNITY SAILING CENTER (CSC) ENCOURAGES AND CELEBRATES THE RESPONSIBLE USE AND LONG TERM STEWARDSHIP OF LAKE CHAMPLAIN BY FOSTERING EDUCATIONAL AND RECREATIONAL OPPORTUNITIES FOR ALL MEMBERS OF OUR COMMUNITY. THE CSC IS COMMITTED TO ELIMINATING BARRIERS THAT PREVENT ACCESS TO LAKE CHAMPLAIN, OFFERS EXPERIENTIAL EDUCATION FOR WHICH COURAGE AND LEADERSHIP SKILLS CAN BE DEVELOPED AND PROVIDES AN INCLUSIVE ENVIRONMENT FOR ALL PEOPLE TO LEARN SAILING AND PADDLING.</MissionDescription>
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      <Description>THE CSC'S LARGEST PROGRAM AREA IS DIVERSE SUMMER CAMP OPPORTUNITIES FOR YOUTH AGES 6-17. THE CAMPS PROVIDE RECREATIONAL OPPORTUNITIES FOR YOUTH WITHOUT REGARD TO FINANCIAL OR PHYSICAL ABILITIES WITH SIGNIFICANT SCHOLARSHIP SUPPORT. THE CAMP CURRICULUM INCLUDES SAILING SKILLS, TEAM BUILDING, BOATING SAFETY, AND LAKE STEWARDSHIP. THE SUMMER CAMP PROGRAM SERVED 484 YOUTH IN 2012.</Description>
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        <Revenue>29885</Revenue>
        <Description>THE CSC PERFORMANCE SAILING PROGRAM IS COMPRISED OF THE NORTHERN VERMONT HIGH SCHOOL SAILING TEAM AND SUMMER RACE TEAM. THESE YOUNG SAILORS ARE TRAINED TO ACHIEVE INDEPENDENT LEADERSHIP SKILLS, PERSONAL RESPONSIBILITY AND TEAM WORK. AS A COMMUNITY BASED TEAM COMPRISED OF OVER 50 TEENAGE YOUTH REPRESENTING 8 DIVERSE SCHOOLS FROM THE REGION, THE PROGRAM DEVELOPS A STRONG SENSE OF PLACE AND COMMUNITY. ADULT MENTORS AND PEERS FROM THE VARIOUS SAILING VENUES FACILITATE STRONG RELATIONSHIP SKILL DEVELOPMENT.</Description>
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        <Revenue>68951</Revenue>
        <Description>THE LAKE ACCESS PROGRAM BREAKS DOWN BARRIERS TO ACCESS TO LAKE CHAMPLAIN, PROVIDING FACILITY USE, RENTALS AND STORAGE OPPORTUNITIES FOR THE COMMUNITY. APPROXIMATELY 106 RESIDENTS STORED THEIR VESSELS AT THE FACILITY, WHILE OVER 700 HOURS OF BOAT RENTALS WERE PROVIDED TO OTHER COMMUNITY MEMBERS.</Description>
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        <Revenue>116572</Revenue>
        <Description>CUSTOM PROGRAMS SERVE COMMUNITY PARTNERS SEEKING UNIQUE BOATING EXPERIENCES ON LAKE CHAMPLAIN.CUSTOM PROGRAMS ARE DIVIDED INTO THREE CATEGORIES: RECREATION, CORPORATE, OR COLLEGE. RECREATION PROGRAMS FEATURE HANDS-ON SAILING INSTRUCTION IN A FUN, ON-WATER ATMOSPHERE. CORPORATE PROGRAMS ENGAGE LOCAL BUSINESSES AND EMPLOYEES IN TEAM-BUILDING FACILITATION AND ON-WATER RECREATION. COLLEGE PROGRAMS DELIVER FOR-CREDIT SAILING COURSES WITHIN A COLLEGE'S COURSE CATALOG. IN 2012, CUSTOM PROGRAMS SERVED 1,487 PARTICIPANTS. LEADERSHIP: THIS PROGRAM SEEKS TO FACILITATE SYSTEMATIC CHANGE THROUGH INDIVIDUAL GROWTH BY NURTURING AT-RISK YOUTHS LEADERSHIP POTENTIAL, BUILDING NEW SKILLS, AND MAKING POSITIVE COMMUNITY CONNECTIONS THROUGH THE SPORT OF SAILING. THERE ARE MANY CHILDREN WHO LIVE LESS THAN A MILE AWAY FROM LAKE CHAMPLAIN WHO HAVE NEVER HAD THE OPPORTUNITY TO ACCESS LAKE-BASED ACTIVITIES. IN THIS PROGRAM, YOUTH FROM ALL CONCEIVABLE BACKGROUNDS LEARN TO PUT DIFFERENCES ASIDE AND WORK TOGETHER TO REALIZE THEIR DREAMS BIG AND SMALL. WOMEN IN WIND: THE COMMUNITY SAILING CENTERS WOMEN IN WIND PROGRAM USES SCIENCE AND SAILING AS THE WAY TO ADDRESS THE UNIQUE CHALLENGES FACED BY VERMONT GIRLS, AND IS DESIGNED TO HELP PARTICIPANTS FEEL SUPPORTED AND ENCOURAGED TO DEVELOP NEW SKILLS. IN EACH SESSION, GIRLS EMBARK ON A VOYAGE WITH ADVENTURES AND DISCOVERIES ALONG THE WAY. ITS AN EXPERIENCE WITH LASTING IMPACT THAT INCLUDES PERSONAL CHALLENGES, TIME FOR REFLECTION, AND TEAM-BUILDING ACTIVITIES, PROVIDING EACH STUDENT WITH AN OPPORTUNITY FOR SUCCESS. AWP: THE ADAPTIVE WATERSPORT PROGRAMS MISSION IS TO PROVIDE ON THE WATER OPPORTUNITIES FOR EVERYONE, REGARDLESS OF DISABILITY, AGE, AND ABILITY TO PAY AND AT ALL LEVELS FROM SUPERVISED RECREATIONAL SAILING TO INDEPENDENT RACING COMPETITION.THIS PROGRAM ENABLES PEOPLE WITH DISABILITIES TO REALIZE THEIR RECREATIONAL GOALS USING ADAPTED TEACHING METHODS AND A FULL ARRAY OF ADAPTIVE EQUIPMENT. IT PROVIDES AN INVALUABLE POINT OF ACCESS TO LAKE CHAMPLAIN AND FACILITATES POSITIVE CHANGE IN A PARTICIPANTS SELF- CONFIDENCE, LEADERSHIP, AND TEAMWORK. FLOATING CLASSROOM: THIS PROGRAM USES A SCIENCE CURRICULUM TO ENGAGE STUDENTS IN INQUIRY-BASED, ON-SHORE LESSONS, SAILING, AND TEAM-BUILDING ACTIVITIES. WE PROVIDE HANDS-ON EXPERIENCES THAT FOCUS ON IMMEDIATE LEARNING AND APPLICATION. FLOATING CLASSROOMS BRING VERMONT YOUTH TO THE WATERFRONT TO PARTICIPATE IN SCIENCE FIRST-HAND, USING A PLACE-BASED PEDAGOGY TO BUILD ON STUDENTS FOUNDATION OF CLASSROOM LEARNING THROUGH SCIENTIFIC SAMPLING AND EXPERIMENTATION.</Description>
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        <ManagementAndGeneral>4453</ManagementAndGeneral>
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        <ManagementAndGeneral>8338</ManagementAndGeneral>
        <Fundraising>3844</Fundraising>
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        <ManagementAndGeneral>991</ManagementAndGeneral>
        <Fundraising>457</Fundraising>
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        <ProgramServices>14168</ProgramServices>
        <ManagementAndGeneral>1097</ManagementAndGeneral>
        <Fundraising>3670</Fundraising>
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        <ProgramServices>26624</ProgramServices>
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        <ProgramServices>13061</ProgramServices>
        <ManagementAndGeneral>3519</ManagementAndGeneral>
        <Fundraising>1622</Fundraising>
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      <InformationTechnology>
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        <ProgramServices>2079</ProgramServices>
        <ManagementAndGeneral>914</ManagementAndGeneral>
        <Fundraising>422</Fundraising>
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      <Occupancy>
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        <ProgramServices>3147</ProgramServices>
        <ManagementAndGeneral>1537</ManagementAndGeneral>
        <Fundraising>709</Fundraising>
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      <ConferencesMeetings>
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        <ProgramServices>4977</ProgramServices>
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        <ProgramServices>5111</ProgramServices>
        <ManagementAndGeneral>2495</ManagementAndGeneral>
        <Fundraising>1150</Fundraising>
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        <ProgramServices>71042</ProgramServices>
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      <Insurance>
        <Total>17514</Total>
        <ProgramServices>14012</ProgramServices>
        <ManagementAndGeneral>2850</ManagementAndGeneral>
        <Fundraising>652</Fundraising>
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      <OtherExpenses>
        <Description>SCHOLARSHIPS</Description>
        <Total>33008</Total>
        <ProgramServices>33008</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>FUNDRAISING</Description>
        <Total>20083</Total>
        <Fundraising>20083</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>BOAT MAINTENANCE</Description>
        <Total>14047</Total>
        <ProgramServices>14047</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PROFESSIONAL DEVELOPMENT</Description>
        <Total>12125</Total>
        <ProgramServices>12125</ProgramServices>
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      <AllOtherExpenses>
        <Total>19460</Total>
        <ProgramServices>16086</ProgramServices>
        <ManagementAndGeneral>3374</ManagementAndGeneral>
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      <TotalFunctionalExpenses>
        <Total>573545</Total>
        <ProgramServices>458730</ProgramServices>
        <ManagementAndGeneral>49224</ManagementAndGeneral>
        <Fundraising>65591</Fundraising>
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      <CashNonInterestBearing>
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      </CashNonInterestBearing>
      <PledgesAndGrantsReceivable>
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      <PrepaidExpensesDeferredCharges>
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      <LandBuildingsEquipmentBasis>755521</LandBuildingsEquipmentBasis>
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      <LandBuildingsEquipmentBasisNet>
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        <EOY>622779</EOY>
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        <EOY>725190</EOY>
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      <AccountsPayableAccruedExpenses>
        <BOY>8560</BOY>
        <EOY>7836</EOY>
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      <DeferredRevenue>
        <EOY>2850</EOY>
      </DeferredRevenue>
      <MortNotesPyblSecuredInvestProp>
        <BOY>166613</BOY>
        <EOY>168995</EOY>
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      <TotalLiabilities>
        <BOY>175173</BOY>
        <EOY>179681</EOY>
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      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>541771</BOY>
        <EOY>545509</EOY>
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      <TotalNetAssetsFundBalances>
        <BOY>541771</BOY>
        <EOY>545509</EOY>
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      <TotalLiabNetAssetsFundBalances>
        <BOY>716944</BOY>
        <EOY>725190</EOY>
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      <ReconcilationRevenueExpenses>3738</ReconcilationRevenueExpenses>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>false</FSAudited>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
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        <CurrentTaxYearMinus3Years>154387</CurrentTaxYearMinus3Years>
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        <CurrentTaxYearMinus1Year>252121</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>209013</CurrentTaxYear>
        <Total>1118074</Total>
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        <CurrentTaxYearMinus3Years>194345</CurrentTaxYearMinus3Years>
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        <CurrentTaxYearMinus1Year>285369</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>392687</CurrentTaxYear>
        <Total>1303019</Total>
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        <CurrentTaxYear>8725</CurrentTaxYear>
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        <CurrentTaxYearMinus3Years>348732</CurrentTaxYearMinus3Years>
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        <CurrentTaxYearMinus1Year>569906</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>610425</CurrentTaxYear>
        <Total>2462234</Total>
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        <CurrentTaxYearMinus3Years>348732</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>483928</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>569906</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>610425</CurrentTaxYear>
        <Total>2462234</Total>
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        <Depreciation>132742</Depreciation>
        <BookValue>622779</BookValue>
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      <TotalOfBookValueLandBuildings>622779</TotalOfBookValueLandBuildings>
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      <EventsInformation>
        <NameOfEvent1>ROCK THE DOCK</NameOfEvent1>
        <GrossReceiptsEvent1>52941</GrossReceiptsEvent1>
        <CharitableContributionsEvent1>19799</CharitableContributionsEvent1>
        <GrossRevenueEvent1>33142</GrossRevenueEvent1>
        <FoodAndBeverageEvent1>27523</FoodAndBeverageEvent1>
        <EntertainmentEvent1>3264</EntertainmentEvent1>
        <OtherDirectExpensesEvent1>2355</OtherDirectExpensesEvent1>
        <GrossReceiptsTotal>52941</GrossReceiptsTotal>
        <CharitableContributionsTotal>19799</CharitableContributionsTotal>
        <GrossRevenueTotalEvents>33142</GrossRevenueTotalEvents>
        <FoodAndBeverageTotalEvents>27523</FoodAndBeverageTotalEvents>
        <EntertainmentTotalEvents>3264</EntertainmentTotalEvents>
        <OtherDirectExpensesTotalEvents>2355</OtherDirectExpensesTotalEvents>
        <DirectExpenseSummaryEvents>33142</DirectExpenseSummaryEvents>
      </EventsInformation>
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      <GeneralExplanation>
        <Identifier>ORGANIZATION'S MISSION</Identifier>
        <ReturnReference>FORM 990 - ORGANIZATION'S MISSION</ReturnReference>
        <Explanation>THE LAKE CHAMPLAIN COMMUNITY SAILING CENTER (CSC) ENCOURAGES AND CELEBRATES THE RESPONSIBLE USE AND LONG TERM STEWARDSHIP OF LAKE CHAMPLAIN BY FOSTERING EDUCATIONAL AND RECREATIONAL OPPORTUNITIES FOR ALL MEMBERS OF OUR COMMUNITY. THE CSC IS COMMITTED TO ELIMINATING BARRIERS THAT PREVENT ACCESS TO LAKE CHAMPLAIN, OFFERS EXPERIENTIAL EDUCATION FOR WHICH COURAGE AND LEADERSHIP SKILLS CAN BE DEVELOPED AND PROVIDES AN INCLUSIVE ENVIRONMENT FOR ALL PEOPLE TO LEARN SAILING AND PADDLING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ALL OTHER ACCOMPLISHMENT DESCRIPTION</Identifier>
        <ReturnReference>FORM 990, PAGE 2, PART III, LINE 4D</ReturnReference>
        <Explanation>CUSTOM PROGRAMS SERVE COMMUNITY PARTNERS SEEKING UNIQUE BOATING EXPERIENCES ON LAKE CHAMPLAIN.CUSTOM PROGRAMS ARE DIVIDED INTO THREE CATEGORIES: RECREATION, CORPORATE, OR COLLEGE. RECREATION PROGRAMS FEATURE HANDS-ON SAILING INSTRUCTION IN A FUN, ON-WATER ATMOSPHERE. CORPORATE PROGRAMS ENGAGE LOCAL BUSINESSES AND EMPLOYEES IN TEAM-BUILDING FACILITATION AND ON-WATER RECREATION. COLLEGE PROGRAMS DELIVER FOR-CREDIT SAILING COURSES WITHIN A COLLEGE'S COURSE CATALOG. IN 2012, CUSTOM PROGRAMS SERVED 1,487 PARTICIPANTS. LEADERSHIP: THIS PROGRAM SEEKS TO FACILITATE SYSTEMATIC CHANGE THROUGH INDIVIDUAL GROWTH BY NURTURING AT-RISK YOUTHS LEADERSHIP POTENTIAL, BUILDING NEW SKILLS, AND MAKING POSITIVE COMMUNITY CONNECTIONS THROUGH THE SPORT OF SAILING. THERE ARE MANY CHILDREN WHO LIVE LESS THAN A MILE AWAY FROM LAKE CHAMPLAIN WHO HAVE NEVER HAD THE OPPORTUNITY TO ACCESS LAKE-BASED ACTIVITIES. IN THIS PROGRAM, YOUTH FROM ALL CONCEIVABLE BACKGROUNDS LEARN TO PUT DIFFERENCES ASIDE AND WORK TOGETHER TO REALIZE THEIR DREAMS BIG AND SMALL. WOMEN IN WIND: THE COMMUNITY SAILING CENTERS WOMEN IN WIND PROGRAM USES SCIENCE AND SAILING AS THE WAY TO ADDRESS THE UNIQUE CHALLENGES FACED BY VERMONT GIRLS, AND IS DESIGNED TO HELP PARTICIPANTS FEEL SUPPORTED AND ENCOURAGED TO DEVELOP NEW SKILLS. IN EACH SESSION, GIRLS EMBARK ON A VOYAGE WITH ADVENTURES AND DISCOVERIES ALONG THE WAY. ITS AN EXPERIENCE WITH LASTING IMPACT THAT INCLUDES PERSONAL CHALLENGES, TIME FOR REFLECTION, AND TEAM-BUILDING ACTIVITIES, PROVIDING EACH STUDENT WITH AN OPPORTUNITY FOR SUCCESS. AWP: THE ADAPTIVE WATERSPORT PROGRAMS MISSION IS TO PROVIDE ON THE WATER OPPORTUNITIES FOR EVERYONE, REGARDLESS OF DISABILITY, AGE, AND ABILITY TO PAY AND AT ALL LEVELS FROM SUPERVISED RECREATIONAL SAILING TO INDEPENDENT RACING COMPETITION.THIS PROGRAM ENABLES PEOPLE WITH DISABILITIES TO REALIZE THEIR RECREATIONAL GOALS USING ADAPTED TEACHING METHODS AND A FULL ARRAY OF ADAPTIVE EQUIPMENT. IT PROVIDES AN INVALUABLE POINT OF ACCESS TO LAKE CHAMPLAIN AND FACILITATES POSITIVE CHANGE IN A PARTICIPANTS SELF- CONFIDENCE, LEADERSHIP, AND TEAMWORK. FLOATING CLASSROOM: THIS PROGRAM USES A SCIENCE CURRICULUM TO ENGAGE STUDENTS IN INQUIRY-BASED, ON-SHORE LESSONS, SAILING, AND TEAM-BUILDING ACTIVITIES. WE PROVIDE HANDS-ON EXPERIENCES THAT FOCUS ON IMMEDIATE LEARNING AND APPLICATION. FLOATING CLASSROOMS BRING VERMONT YOUTH TO THE WATERFRONT TO PARTICIPATE IN SCIENCE FIRST-HAND, USING A PLACE-BASED PEDAGOGY TO BUILD ON STUDENTS FOUNDATION OF CLASSROOM LEARNING THROUGH SCIENTIFIC SAMPLING AND EXPERIMENTATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11B</ReturnReference>
        <Explanation>MANAGEMENT REVIEWS THE 990 IN DETAIL AND THEN PROVIDES A COPY TO THE BOARD TREASURER TO REVIEW AND SIGN.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ENFORCEMENT OF CONFLICTS POLICY</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 12C</ReturnReference>
        <Explanation>ALL BOARD MEMBERS ARE REQUESTED TO, ON AN ANNUAL BASIS, SUBMIT A LIST OF ANY POTENTIAL CONFLICTS IN WRITING. THESE ARE KEPT ON FILE AND REVIEWED ANNUALLY PRIOR TO THE ANNUAL MEETING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION PROCESS FOR TOP OFFICIAL</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 15A</ReturnReference>
        <Explanation>COMPENSATION IS DECIDED UPON VOTE OF THE EXECUTIVE COMMITTEE THROUGH REGULAR MEETINGS AND/OR SPECIAL SESSIONS FOR SAID PURPOSE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION PROCESS FOR OFFICERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 15B</ReturnReference>
        <Explanation>COMPENSATION IS DECIDED UPON VOTE OF THE EXECUTIVE COMMITTEE THROUGH REGULAR MEETINGS AND/OR SPECIAL SESSIONS FOR SAID PURPOSE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS DISCLOSURE EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 19</ReturnReference>
        <Explanation>GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.</Explanation>
      </GeneralExplanation>
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