2013-10-02T13:26:05-05:00 2012-12-31 113518842 MARKS PANETH & SHRON LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2012-01-01 133028060 OPEN SPACE CONSERVANCY INC OPEN 2122908200 1350 BROADWAY NO 201 NEW YORK NY 100187799 ROBERT K ANDERBERG ESQ 2122908200 2013-10-02 1 ROBERT R LYONS P00227472 2125038800 2012 2016-02-24 21:20:13Z CHRISTOPHER J ELLIMAN 1350 BROADWAY NO 201 NEW YORK NY 100187799 66830376 0 X WWW.OSINY.ORG X 1980 NY A SUPPORTING ORGANIZATION OF THE OPEN SPACE INSTITUTE, INC. THAT HOLDS LAND & CONSERVATION EASEMENTS. 25 24 0 0 0 0 14341396 5091149 0 0 7132295 478057 87607 114909 21561298 5684115 5019061 4107406 0 0 3505672 3955768 75000 0 230870 4662097 4486472 13261830 12549646 8299468 -6865531 229755550 251658149 3931710 11647888 225823840 240010261 X OPEN SPACE CONSERVANCY, INC. IS A SUPPORTING ORGANIZATION OF OPEN SPACE INSTITUTE, INC., WHICH PROTECTS SCENIC, NATURAL AND HISTORIC LANDSCAPES TO ENSURE PUBLIC ENJOYMENT, CONSERVE HABITATS AND SUSTAIN COMMUNITY CHARACTER. 0 0 7347198 1448892 OPEN SPACE INSTITUTE, INC. ("OSI")) AND ITS SUPPORTING ORGANIZATION, OPEN SPACE CONSERVANCY, INC. ("OSC") BOTH CONDUCT LAND ACQUISITION PROGRAMS THAT PROTECT CRITICAL OPEN SPACE, WILDLIFE HABITAT, PARKLAND AND RECREATION AREAS, FAMILY FARMS AND HISTORIC SITES. OSI AND OSC BOTH PARTNER WITH LOCAL AND STATE GOVERNMENT TO EXPAND PARKLANDS ACROSS NEW YORK STATE, EXTENDING FROM THE PROTECTION OF THE HUDSON RIVER VALLEY, CATSKILLS, AND THE SHAWANGUNK RIDGE, AREAS SIGNIFICANT FOR AGRICULTURAL PRODUCTIVITY, SCENIC BEAUTY AND CLOSE-TO-HOME RECREATION OPPORTUNITIES FOR MILLIONS OF PEOPLE, TO SAFEGUARDING THE RURAL FARMLAND OF THE CHAMPLAIN VALLEY AND ACCESS TO THE HIGH PEAKS OF THE ADIRONDACKS. IN 2012, OSC PROTECTED 1,182 ACRES HAVING A FAIR MARKET VALUE OF $6.5 MILLION (SEE SCHEDULE O FOR MORE INFORMATION). IN CONJUNCTION WITH LAND ACQUISITION, OSI'S AND OSC'S LAND STEWARDSHIP PROGRAM MANAGES AND STEWARDS LANDS HELD BY OSI AND OSC AND OVER 320 CONSERVATION EASEMENTS THAT PROTECT THOUSANDS OF ACRES OF OPEN SPACE IN NEW YORK STATE. OSI AND OSC ALSO TRANSFER LANDS THEY ACQUIRE TO PUBLIC ENTITIES, SUCH AS THE NYS OFFICE OF PARKS RECREATION AND HISTORIC PRESERVATION AND THE NYS DEPARTMENT OF ENVIRONMENTAL CONSERVATION, TO BE HELD AND USED AS PARKLAND. OSI AND OSC ALSO TRANSFER LAND IT ACQUIRES TO PARTNERING LAND TRUSTS AND PRIVATE CONSERVATION BUYERS SUBJECT TO CONSERVATION RESTRICTIONS. OSI AND OSC ARE ALSO RESPONSIBLE FOR ENFORCING THE TERMS OF CONSERVATION EASEMENTS THAT THEY HOLD. IN 2012, OSI'S LAND STEWARDSHIP PROGRAM MONITORED 9,459 ACRES PROTECTED BY CONSERVATION EASEMENTS AND MAINTAINED 4 PROPERTIES, WHILE OSC MONITORED 25,631 ACRES PROTECTED BY CONSERVATION EASEMENTS AND MANAGED 103 CONSERVATION PROPERTIES. OSI AND OSC ARE ALSO STRONG ADVOCATES FOR THE PROTECTION OF OPEN SPACE AT THE FEDERAL, STATE AND LOCAL LEVELS OF GOVERNMENT, AND EDUCATE PUBLIC OFFICIALS AND THE GENERAL PUBLIC ABOUT THE NEED FOR OPEN SPACE AND THE BENEFITS OPEN SPACE PROVIDES.IN ADDITION, THE ALLIANCE FOR NEW YORK STATE PARKS IS COMMITTED TO THE RESTORATION, MAINTENANCE, AND SUPPORT OF NEW YORK'S 213 STATE PARKS AND HISTORIC SITES. AS A MEANS OF REVITALIZING THE STATE'S WORLD-CLASS YET AGING PARK SYSTEM, THE ALLIANCE ADVOCATES FOR ADEQUATE PUBLIC SUPPORT, BUILDS STRONGER PUBLIC-PRIVATE PARTNERSHIPS, AND SPEARHEADS CAPITAL CAMPAIGNS AT PARKS THROUGHOUT THE STATE TO IMPROVE THE VISITOR EXPERIENCE.THESE ACTIVITIES ARE SUPPORTED BY CONTRIBUTIONS AND INCOME AS DISCLOSED IN PART I. 3528726 2658514 OSI AND OSC BOTH ADMINISTER A CONSERVATION CAPITAL PROGRAM ("CCP") WHICH FURTHERS CONSERVATION OF OPEN SPACE THROUGHOUT THE EASTERN UNITED STATES AND SOUTHERN CANADA BY PROVIDING GRANTS AND LOW-COST BRIDGE FINANCING FOR REGIONALLY IMPORTANT LAND PROJECTS IN SELECTED LANDSCAPES IN THE EASTERN U.S. AND SOUTHERN CANADA. CCP WORKS WITH DONORS TO DESIGN AND ADMINISTER GRANT PROGRAMS AND WITH LAND TRUSTS TO STRUCTURE AND IMPLEMENT CONSERVATION TRANSACTIONS. CCP ASSISTS PROJECTS THAT ENHANCE EXISTING CONSERVATION LANDS AND HELP TO CHANNEL OR REDIRECT DEVELOPMENT AWAY FROM SENSITIVE NATURAL AREAS OR THAT WILL PROTECT OPEN SPACES UNDER IMMEDIATE THREAT OF BEING DEVELOPED. OSC MADE 22 GRANTS AND 3 LOANS, TOTALING $6.7 MILLION (SEE SCHEDULE O FOR MORE INFORMATION).IN THE AGGREGATE, OSI'S AND OSC'S CONSERVATION CAPITAL PROGRAM PROTECTED 39,675 ACRES IN 10 STATES AND PROVINCES WITH A FAIR MARKET VALUE OF $40 MILLION IN 2012. THESE ACTIVITIES ARE SUPPORTED BY CONTRIBUTIONS AND INCOME AS DISCLOSED IN PART I. 10875924 1 1 0 1 0 0 1 0 0 1 1 1 0 1 1 1 0 1 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY CA CT GA MA ME NC NJ NH PA SC TN WA X JOSEPH HOLLAND 2122908200 1350 BROADWAY SUITE 201 NEW YORK NY 100187799 JOHN H ADAMS 3.00 3.00 X X 0 0 0 PETER A BIENSTOCK 3.00 3.00 X X 0 0 0 CAROLINE NIEMCZYK 3.00 3.00 X X 0 0 0 PAUL J ELSTON 3.00 3.00 X X 0 0 0 EDWARD A AMES 3.00 3.00 X X 0 0 0 SUSAN BABCOCK 3.00 3.00 X 0 0 0 ELIZABETH BORDEN 3.00 3.00 X 0 0 0 GILMAN S BURKE 3.00 3.00 X 0 0 0 JOHN CAHILL 3.00 3.00 X 0 0 0 T JEFFERSON CUNNINGHAM III 3.00 3.00 X 0 0 0 J MATTHEW DAVIDSON 3.00 3.00 X 0 0 0 JOHN ERNST 3.00 3.00 X 0 0 0 SAMUEL G HUBER 3.00 3.00 X 0 0 0 FELIX KAUFMAN DECEASED 1112 3.00 3.00 X 0 0 0 SAMUEL W LAMBERT III 3.00 3.00 X 0 0 0 W BARNABAS MCHENRY 3.00 3.00 X 0 0 0 KATHERINE O ROBERTS 3.00 3.00 X 0 0 0 HUME R STEYER 3.00 3.00 X 0 0 0 PATRICIA F SULLIVAN 3.00 3.00 X 0 0 0 YUKI MOORE LAURENTI 3.00 3.00 X 0 0 0 CAROL ASH 3.00 3.00 X 0 0 0 DALE S BRYK 3.00 3.00 X 0 0 0 JOSHUA GINSBERG PHD 3.00 3.00 X 0 0 0 JEREMY GUTH 3.00 3.00 X 0 0 0 HOLLY HEGENER 3.00 3.00 X 0 0 0 STEPHEN CLEARMAN 3.00 3.00 X 0 0 0 CHRISTOPHER J ELLIMAN 32.50 2.50 X 329043 20957 54460 PETER HOWELL 25.50 9.50 X 140432 72569 25816 ROBERT K ANDERBERG 32.20 2.80 X 177920 6760 32543 ANTONIA BOWRING 25.30 9.70 X 103449 48532 38490 JOSEPH G HOLLAND 29.80 5.20 X 96886 9194 10038 SAMAYLA DEUTCH 33.30 1.70 X 165776 3904 32073 TALLY BLUMBERG 30.30 4.70 X 150869 23631 33441 NATE BERRY 35.00 0.00 X 93600 0 33533 ERIK KULLESEID 34.60 0.40 X 166400 0 39773 TERRENCE NOLAN 35.00 0.00 X 164180 0 39595 1588555 185547 339762 8 0 1 0 DAVID CLOUSER & ASSOCIATES 1 PARADIES LANE NEW PALTZ NY 12561 ENGINEERING 187384 PRIME BUCHHOLZ & ASSOCIATES 273 CORPORATE DR PORTSMOUTH NH 03801 INVESTMENT CONSULTANT 134126 SOLID GROUND CONSULTING GROUP 1001 SE WATER STREET PORTLAND OR 97214 CONSULTING 100900 3 1068170 187278 3835701 1412848 5091149 762938 762938 79262 0 79262 79262 79262 60266467 594913 60660563 485698 -394096 109215 -284881 -284881 SERVICE INCOME 900099 35640 35640 MISCELLANEOUS 900099 7 7 35647 5684115 0 0 592966 4010931 4010931 96475 96475 1588555 1207243 329842 51470 1464184 1060370 304018 99796 211823 157393 43943 10487 503619 374208 104477 24934 187587 139384 38916 9287 36526 31620 4906 59350 44770 14580 437220 437220 351319 350869 450 78995 78705 290 2021 1696 325 10360 10291 69 728735 545909 147949 34877 98012 91990 6022 47008 47008 181980 181980 132488 132488 COST OF EASEMENTS 1208382 1208382 LOSS ON SALE/TRANSFER 578083 578083 REAL ESTATE TAXES 292107 292107 PROPERTY MAINTENANCE 213967 213967 29919 20055 9845 19 12549646 10875924 1442852 230870 23882205 30141967 5527714 846845 211182 450450 3168047 3666347 843034 849236 36724825 2334684 35702062 34390141 34144628 36147595 126276678 142114987 0 3050581 229755550 251658149 307955 805764 2500000 3537260 5785775 86495 2556349 3931710 11647888 X 68078738 70829821 157745102 169180440 225823840 240010261 229755550 251658149 X -6865531 25691077 -4639125 X X 0 1 X 1 0 X X 0 0 0 OPEN SPACE INSTITUTE 521053406 7 1 1 1 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 121227 27022 120960 27022 242187 12522624 16995357 12549646 17237544 777482 1000000 194371 250000 0 0 0 0 749680 892949 1000000 1000000 3642629 5463944 569 580820 394248 242187 1217824 187420 223237 250000 250000 910657 1365986 176819 122278 121227 420324 X X X X 283 25631.00 1 1 1 2105.00 120114 140777927 21610864 8445160 153943631 143726233 1464534 4412840 140777927 132462248 16003854 4739869 143726233 115507939 20637191 3682882 132462248 173073908 -51183509 6382460 115507939 1.00000 0 0 31583891 31583891 3417486 1187620 2229866 1464265 888164 576101 258900 258900 0 283 283 34390141 PRIVATELY MANAGED INVESTMENTS 142114787 F INVESTMENT IN JOHNSON HILL ASSOCIATES 200 C 142114987 RECEIVABLE - REDEEMED INVESTMENTS 3050581 3050581 DEPOSIT ON SALE 671500 DUE TO RELATED ORGANIZATIONS 735632 DUE TO RELATED ORGANIZATIONS - UNITIZED INVESTMENT POOL 1149217 2556349 X DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: 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. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE WALLACE ENDOWMENT 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2012 AND 2011 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, 2009 AND PRIOR YEARS. 0 NORTH AMERICA - CANADA AND MEXICO 0 0 GRANTS TO RECIPIENTS LOCATED IN TRANSBORDER CANADA LAND ACQUISITION AND STEWARDSHIP 96475 CENTRAL AMERICA AND THE CARIBBEAN - 0 0 OFFSHORE INVESTMENT VEHICLES N/A 50791000 0 0 0 0 0 0 50887475 0 50887475 NORTH AMERICA TRANSBORDER GRANT - APPALACHIAN CORRIDOR 20000 WIRE TRANSFER NORTH AMERICA TRANSBORDER GRANT - FRIENDS OF THE NATURE CONSERVANCY OF CANADA 76475 WIRE TRANSFER 2 0 0 0 0 1 0 0 SCHEDULE F PART 1,LINE 2: GRANTEES EXECUTE A WRITTEN AGREEMENT WHICH REQUIRES THEM TO SUBMIT WRITTEN REPORTS TO OSC FOR THE PERIOD OF THE AGREEMENT. 1 AMMONOOSUC CONSERVATION TRUST 107 GLESSNER RD BETHLEHEM NH 03574 026121209 501(C)(3) 17500 N/A N/A COMMUNITY FOREST GRANT ASHBY LAND TRUST PO BOX 144 ASHBY MA 01431 043480599 501(C)(3) 11000 N/A N/A MASSACHUSETTS ACCELERATION GRANT BERKS COUNTY CONSERVANCY 25 N 11TH ST READING PA 19601 231996295 501(C)(3) 14022 N/A N/A NJ BAYSHORE/PA HIGHLANDS GRANT BLACK ROCK FOREST CONSORTIUM INC 19 WEST 44TH ST ROOM 1407 CORNWALL NY 12518 133356463 501(C)(3) 8500 N/A N/A ENVIRONMENTAL SUPPORT GRANT COLUMBIA LAND CONSERVANCY INC PO BOX 299 CHATHAM NY 12037 222757332 501(C)(3) 208766 N/A N/A TRANSFER OF STEWARDSHIP ENDOWMENT DOWNEAST LAKES LAND TRUST PO BOX 75 GRAND LAKE STREAM ME 04637 010541131 501(C)(3) 500000 N/A N/A GRANT TO FUND CONSERVATION EASEMENT PURCHASE ENVIRONMENTAL ADVOCATES OF NY INC 353 HAMILTON ST ALBANY NY 12210 222360736 501(C)(3) 5200 N/A N/A ENVIRONMENTAL SUPPORT GRANT ESF COLLEGE FOUNDATION INC 1 FORESTRY DR 214 BRAY HALL SYRACUSE NY 13210 156023443 501(C)(3) 176396 N/A N/A FACILITIES CONSTRUCTION GRANT GREATER WORCESTER LAND TRUST INC 4 ASH ST WORCESTER MA 01608 222857318 501(C)(3) 11000 N/A N/A MASSACHUSETTS ACCELERATION GRANT HERITAGE CONSERVANCY 85 OLD DUBLIN PIKE DOYLESTOWN PA 18901 236296515 501(C)(3) 53448 N/A N/A NJ BAYSHORE/PA HIGHLANDS GRANT LAND TRUST ALLIANCE 1660 L STREET NW SUITE 1100 WASHINGTON DC 20036 042751357 501(C)(3) 15000 N/A N/A ENIVRONMENTAL SUPPORT GRANT MAINE COAST HERITAGE TRUST 1 MAIN ST STE 201 TOPSHAM ME 04086 237099105 501(C)(3) 127940 N/A N/A DUKE STATE WILDLIFE ACTION PLAN GRANT MONTGOMERY COUNTY LANDS TRUST 1031 PALMERS MILL RD MEDIA PA 19063 232746506 501(C)(3) 150000 N/A N/A NJ BAYSHORE/PA HIGHLANDS GRANT MOUNT GRACE LAND CONSERVATION TRUST INC 1461 OLD KEENE ROAD ATHOL MA 01331 042938967 501(C)(3) 280000 N/A N/A SAVING NEW ENGLAND WILDLIFE GRANT NEW JERSEY CONSERVATION FOUNDATION 170 LONGVIEW RD FAR HILLS NJ 07931 226065456 501(C)(3) 57600 N/A N/A NJ BAYSHORE/PA HIGHLANDS GRANT PLEASANT RIVER WILDLIFE FOUNDATION PO BOX 154 ADDISON ME 04606 311631801 501(C)(3) 145000 N/A N/A SAVING NEW ENGLAND WILDLIFE GRANT STOWE LAND TRUST PO BOX 284 STOWE VT 05672 030307155 501(C)(3) 100000 N/A N/A COMMUNITY FOREST GRANT THE CONSERVATION CAMPAIGN 101 MONTGOMERY ST SAN FRANCISCO CA 94104 043515341 501(C)(4) 20000 N/A N/A ENVIRONMENTAL SUPPORT GRANT THE NATURE CONSERVANCY 4525 N FAIRFAX DR ARLINGTON VA 22203 530242652 501(C)(3) 100000 N/A N/A NJ BAYSHORE/PA HIGHLANDS GRANT - DIOCESE OF CAMDEN, NJ THE NATURE CONSERVANCY 4525 N FAIRFAX DR ARLINGTON VA 22203 530242652 501(C)(3) 559147 N/A N/A SOUTHERN CUMBERLAND FUND GRANT - JACOB'S MOUNTAIN THE PEW CHARITABLE TRUST 2005 MARKET ST PHILADELPHIA PA 19103 562307147 501(C)(3) 95659 N/A N/A ACQUISITION GRANTS - STOLFOOZ & FISHER FARM THE TRUSTEES OF RESERVATIONS 572 ESSEX ST BEVERLY MA 01915 042105780 501(C)(3) 44130 N/A N/A ENVIRONMENTAL SUPPORT GRANT TOWN OF MILAN NY 20 WILCOX CIRCLE MILAN NY 12571 5500 N/A N/A COMMUNITY FOREST GRANT TRUST FOR PUBLIC LAND 116 NEW MONTGOMERY ST SAN FRANCISCO CA 94105 237222333 501(C)(3) 233862 N/A N/A TRANSBORDER FUND GRANT VERMONT LAND TRUST 8 BAILEY AVE MONTPELIER VT 05602 032648360 501(C)(3) 39231 N/A N/A COMMUNITY FOREST GRANT WILDLIFE CONSERVATION SOCIETY 2300 SOUTHERN BLVD BRONX NY 10460 131740011 501(C)(3) 15000 N/A N/A SAVING NEW ENGLAND WILDLIFE GRANT WALLKILL VALLEY LAND TRUST PO BOX 208 NEW PALTZ NY 12561 222867070 501(C)(3) 982875 N/A N/A RAIL TRAIL - TRESSLE RESTORATION 25 1 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTEES EXECUTE A WRITTEN AGREEMENT WHICH REQUIRES THEM TO SUBMIT WRITTEN REPORTS TO OSC FOR THE PERIOD OF THE AGREEMENT. X X X X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER J ELLIMAN 329043 20957 0 0 0 0 26323 1677 24876 1584 380242 24218 0 0 PETER HOWELL 140432 72569 0 0 0 0 9636 4980 7384 3816 157452 81365 0 0 ROBERT K ANDERBERG 177920 6760 0 0 0 0 14234 541 17118 650 209272 7951 0 0 ANTONIA BOWRING 103449 48532 0 0 0 0 8276 3883 17923 8408 129648 60823 0 0 SAMAYLA DEUTCH 165776 3904 0 0 0 0 13262 312 18074 425 197112 4641 0 0 TALLY BLUMBERG 150869 23631 0 0 0 0 6035 945 22877 3584 179781 28160 0 0 ERIK KULLESEID 166400 0 0 0 0 0 13312 0 26461 0 206173 0 0 0 TERRENCE NOLAN 164180 0 0 0 0 0 13134 0 26461 0 203775 0 0 0 CAROLYN NIEMCZYK SEE PART V 20000 SEE PART V SEE PART V STEPHEN CLEARMAN SEE PART V 181555 SEE PART V 0 SCHEDULE L, PART III: GRANTS OR ASSISTANCE BENEFITTING INTERESTED PERSONS: IN 2012, OSC AWARDED A $20,000 GRANT TO THE CONSERVATION CAMPAIGN FOR ENVIRONMENTAL SUPPORT.CAROLINE NIEMCZYK, VICE-CHAIR OF OSI/OSC, IS A VOLUNTEER BOARD MEMBER OF THE CONSERVATION CAMPAIGN, AN UNRELATED 501(C)(4) EXEMPT ORGANIZATION. SCHEDULE L, PART IV: BUSINESS TRANSACTIONS WITH INTERESTED PERSONS: STEPHEN CLEARMAN, WHO WAS ELECTED TO THE BOARD OF OSI/OSC ON DECEMBER 12, 2012, IS ALSO A MANAGING PARTNER OF KINDERHOOK, L.P. IN WHICH OSI/OSC IS AN INVESTOR. MANAGEMENT FEES PAID BY OSI/OSC TO KINDERHOOK, L.P. DURING THE YEAR ENDED DECEMBER 31, 2012 AMOUNTED TO $181,555. X 1 707328 APPRAISAL X 1 425000 APPRAISAL X 1 280520 APPRAISAL 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF OPEN SPACE CONSERVANCY, INC. IS OPEN SPACE INSTITUTE, INC. FORM 990, PART VI, SECTION A, LINE 7A THE TRUSTEES OF OPEN SPACE CONSERVANCY, INC. SHALL BE ELECTED AT THE ANNUAL MEETING OF THE BOARD OF TRUSTEES OF THE SOLE MEMBER (OPEN SPACE INSTITUTE, INC.) AND ANY TRUSTEE MAY BE REMOVED, WITH OR WITHOUT CAUSE, BY THE SOLE MEMBER. 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 CONSERVANCY, 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 CONSERVANCY, 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: LOSS ON IMPAIRMENT OF REAL ESTATE -4,833,817. IN-KIND INTEREST INCOME 23,823. IN-KIND INTEREST EXPENSE -57,131. LOAN LOSS RESERVE INCOME 228,000. DESCRIPTION OF THE ORGANIZATION'S AUDIT COMMITTEE: PART XII, LINE 2C: THE AUDIT COMMITTEE OF THE OPEN SPACE INSTITUTE, INC., A SUPPORTED ORGANIZATION OF THE OPEN SPACE CONSERVANCY, INC., FUNCTIONS AS THE AUDIT COMMITTEE OF OPEN SPACE CONSERVANCY, INC. AND IS RESPONSIBLE FOR THE OVERSIGHT OF OUR FINANCIAL STATEMENTS AND SELECTION OF OUR 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, OUR AUDIT COMMITTEE REVIEWS THE REPORT TO THE AUDIT COMMITTEE PREPARED BY OUR 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 OUR 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. OSI CONSERVATION INVESTMENTS LLC 1350 BROADWAY SUITE 201 NEW YORK NY 100187799 133028060 INVESTMENT VEHICLE NY -187857 169878 OPEN SPACE CONSERVANCY INC OPEN SPACE INSTITUTE INC 1350 BROADWAY NEW YORK NY 10018 521053406 LAND PROTECTION NY 501(C)(3) 7 N/A 0 BEAVERKILL VALLEY LAND TRUST INC 1350 BROADWAY NEW YORK NY 10018 133545322 LAND PROTECTION NY 501(C)(3) 11 OPEN SPACE INSTITUTE INC 0 MALCOLM GORDON CHARITABLE TRUST 1350 BROADWAY NEW YORK NY 10018 133756345 ENVIRONMENTAL EDUCATION NY 501(C)(3) 11 OPEN SPACE INSTITUTE INC 0 JOHNSON HILL ASSOCIATES INC 1350 BROADWAY SUITE 201 NEW YORK NY 10018 141644926 HOLDING LAND NY OPEN SPACE CONSERVANCY INC C 85017 234576 1.00000 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 1 OPEN SPACE INSTITUTE INC C 1068170 FORGIVENESS OF DEBT OPEN SPACE INSTITUTE INC N 702374 ALLOCATED COSTS OPEN SPACE INSTITUTE INC O 3955769 ALLOCATED COSTS TRANSFER OF PROPERTY FROM RELATED ORGANIZATIONS: SCHEDULE R, PART V, LINE 1S: DURING THE YEAR ENDED DECEMBER 31, 2012, THE OPEN SPACE CONSERVANCY, INC. ("OSC"), A RELATED ORGANIZATION OF THE BEAVERKILL VALLEY LAND TRUST, INC. ("BVLT"), RECEIVED A 72.83 ACRE PARCEL OF LAND VALUED AT $325,000. IN EXCHANGE FOR THE 72.83-ACRE PARCEL THE DONOR RECEIVED A 15-ACRE PARCEL THAT WAS OWNED BY BVLT, WHICH HAD AN APPROXIMATE NET BOOK VALUE OF $41,500. THE DIFFERENCE IN VALUE OF THE TWO PROPERTIES WAS RECOGNIZED AS A CONTRIBUTION TO OSC FROM THE DONOR. BVLT'S TRANSFER OF THE 15-ACRE PROPERTY TO OSC WAS RECORDED AS A REDUCTION TO THE INTERCOMPANY PAYABLE OWED BY THAT RELATED ORGANIZATION. SCHEDULE R, PART II THE MALCOLM GORDON CHARITABLE TRUST WAS DISSOLVED AS OF 8/31/12. 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, INC. (EIN 52-1053406)1350 BROADWAY, SUITE 201NEW YORK, NY 10018 OPEN SPACE INSTITUTE INC 1350 BROADWAY SUITE 201 NEW YORK NY 10018 521053406 121227 93939 215166 3318649 3533815 326691 81673 39554 0 0