2011-02-04T11:18:23-06:00 2010-06-30 Robert Lee & Associates LLP 226 Airport Parkway Suite 350 San Jose CA 95110 990 2009-07-01 942392007 Peninsula Open Space Trust PENI 6508547696 222 HIGH STREET PALO ALTO CA 94301 AUDREY RUST 6508547696 2011-02-02 1 Nasi Raissian 4088556770 2009 2016-02-24 21:20:13Z AUDREY RUST 222 HIGH STREET PALO ALTO CA 94301 71772921 0 X HTTP://WWW.OPENSPACETRUST.ORG/ X 1977 CA PROTECT THE BEAUTY, CHARACTER & DIVERSITY OF SAN FRANCISCO PENINSULA & SANTA CRUZ MOUNTAIN RANGE. 13 13 38 159 0 0 14082464 4031452 633059 543425 -828207 -1703830 -35536 0 13851780 2871047 6652295 1595000 0 2781712 2499518 0 1718109 5637911 3608457 15071918 7702975 -1220138 -4831928 229505139 231823470 8875627 4492520 220629512 227330950 The purpose of Peninsula Open Space Trust (POST) is to give permanent protection to the beauty, character and diversity of the San Francisco Peninsula and Santa Cruz Mountain range. POST encourages the use of these lands for natural resource protection, wildlife habitat, public recreation and agriculture for people here now and for future generations. Since its founding in 1977, POST has protected 63,000 acres of open space and parkland in San Mateo, Santa Clara and Santa Cruz counties. 0 0 3124086 1595000 79059 As part of POST's work to address urgent conservation needs on the San Francisco Peninsula and along the Santa Cruz Mountain range, POST protected three more properties in the region in FY10. In November 2009, POST took title to a tiny (.07-acre) but strategically located parcel in the Mirada Surf neighborhood of the Coastside so as to assist San Mateo County Parks in its Coastal Trail plans. (In May 2010, POST donated the land to the public agency for use as a restroom location along the developing trail.) In April 2010, POST acquired a 153-acre property adjacent to Sierra Azul Open Space Preserve that is poised to become an addition to the preserve. In October 2009, POST took title to a 21-acre former nursery property along Highway 92 in Half Moon Bay. In 2004, POST had assisted the City of Half Moon Bay in acquiring the land for a possible city park, providing a $3.1 million interest-free loan to the City towards the purchase. However, five years later, officials transferred title to the land to POST since the City was unable to pay back the loan. At the end of FY'10, the fair market value of the property was adjusted downward by $674,200. POST is currently working to identify what options for the land are possible moving forward.Working with its conservation partners toward permanent land protection, POST also completed several large and important property transfers in FY10. As part of its increasing efforts to protect threatened open space in south Santa Clara County, POST transferred 966-acre Rancho San Vicente, a major property at the edge of Almaden Valley in south San Jose, to Santa Clara County Parks in October 2009 for permanent protection as part of adjoining Calero County Park. POST originally acquired the ranchland in June 2009. Once threatened by development, the land connects more than 31,000 acres of open space and parkland for public recreation and wildlife habitat. Also in south Santa Clara County, POST transferred a second property, Clark Canyon Ranch, to Santa Clara County Parks in November 2009. The 408-acre ranch located west of downtown Gilroy is a critical link in a chain of open space lands along the southernmost portion of the Santa Cruz Mountain range including neighboring Mount Madonna County Park. Clark Canyon Ranch was originally acquired by POST from private owners in April 2008.Farther south, in September 2009, POST transferred 95 acres at Watsonville Slough to the Land Trust of Santa Cruz County (LTSCC) for permanent protection and ongoing management. In January 2009, POST partnered with LTSCC to provide bridge funding so as to protect these rare wetlands and critical agricultural land. At the time, POST paid $3.1 million to take temporary title to the land until frozen state bond funds previously assigned to this project could become available. The money POST provided came from our own donor-supported land fund as well as a $1.7 million grant from The Nature Conservancy funded by the David and Lucile Packard Foundation. To date, POST has protected 19,938 acres of open space along the San Mateo Coast through its recent Saving the Endangered Coast campaign, and we continue to work toward the campaign's 20,000-acre land protection goal. The campaign is the largest land protection initiative ever undertaken by any local land trust. Its goal was to save one of the last accessible, rural coastlines near a major metropolitan area. The fund-raising portion of the campaign, launched in 2001 and completed at the end of 2005, brought in $200,783,407, exceeding our $200 million goal. In FY10, POST transferred 353 acres protected through the coastal campaign. These include the aforementioned Mirada Surf property as well as 340-acre Lobitos Ridge, which POST transferred to a public agency, the Midpeninsula Regional Open Space District (MROSD), for permanent protection in March 2010. The land is part of protected swath of critical wildlife habitat and future hiking trail connections extending from Skyline Ridge to the sea. POST originally acquired Lobitos Ridge in 2004. Also in March 2010, POST transferred 13-acre Green Oaks Ranch to the nonprofit group Pie Ranch LLC, holding back a conservation easement on the land. The property will be used as part of Pie Ranch's sustainable agriculture education program.In October 2009, Congress approved $4 million in appropriations from the Federal Land and Water Conservation Fund toward the ultimate transfer of Rancho Corral de Tierra, one of POST's coastal campaign properties, to the Golden Gate National Recreation Area (GGNRA). Five years ago, Congress approved a boundary expansion to include the vast majority of the 4,262-acre property as part of the GGNRA, which is owned and managed by the National Park Service. This most recent appropriation came on top of an additional $8 million designated from the same fund in two previous installments, for a total of approximately $12 million awarded to date. Rancho Corral de Tierra is expected to transfer from POST to the GGNRA within the year. 1590913 427014 POST currently holds 28,280 acres in fee or under easement. The organization has an established stewardship program for the lands it owns that includes resource planning, water management, conservation grazing and agricultural considerations. POST works to protect and manage lands in its possession through individualized stewardship of the natural resources on each property. POST staff and volunteers actively monitor the acreage on which POST holds easements or restrictions. Volunteers also assist with stewardship projects on POST-owned land, contributing an impressive 1,130 hours of work time in FY10. Due to the state budget crisis in California and resulting bond freeze, POSTs work to install the Cowell-Purisima Trail along the San Mateo Coast, a project funded by the California Coastal Conservancy, was put on temporary hold in FY10 . However, as of September 2010, the final phase of construction has resumed including installation of three bridges this fall, and the trail is due to be completed and opened to the public by the end of 2010. POST also continues to play a leadership role as part of a working group of organizations and agencies addressing the threat posed by Hypericum canariensis, a highly damaging and aggressive invasive exotic plant that is spreading along the San Mateo Coast. The group succeeded in petitioning the California Department of Food and Agriculture to upgrade hypericum's rating as a Class B noxious weed, triggering additional requirements for landowners with properties impacted by Hypericum to take steps to control and/or eliminate the weed.POST continues to hold and manage Cloverdale Coastal Ranches, a 6,391-acre land complex acquired by POST in 1997. A resident ranch manager is on site to manage erosion control, coordinate fuels reduction projects, perform habitat restoration activities, manage non-native plant species removal projects, and operate a public trail. In the past fiscal year, POST secured federal stimulus funds from the U.S. Fish and Wildlife Service as well as funding from the San Mateo County Weed Management Area to continue elimination of the invasive exotic weed Hypericum canariensis from the property. In addition, the federal funding helped support POST's work to control Pampas grass and improve critical pond and wetland habitat for threatened and endangered species on the land, including California red-legged frog and San Francisco garter snake. In FY10, POST also continued its efforts to control erosion prone areas on the property. 384085 37352 To further its community outreach and education efforts, in FY '10 the organization hosted three speakers as part of its 17th annual Wallace Stegner Lecture Series, which is open to the public. This year's series featured author and farmer David Mas Masumoto, travel writer and novelist Paul Theroux, and venture capitalist and "green" entrepreneur Vinod Khosla. Attendance for all three lectures totaled 1,490 people, an increase of 290 attendees as compared to the 2009 series. POST also developed and mailed three issues of its donor newsletter, "Landscapes," to approximately 10,000 families and other interested people. In addition, POST continued its participation in the California Council of Land Trusts, an association of land conservancies throughout California. Also, as part of the GoMindego Campaign, POST established a donor recognition site on the Mindego Hill property as a gathering place for hikers and to commemorate the lead donors that made protection of the property possible. Construction of this installation was completed during FY10. 5099084 1 1 0 1 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 0 1 0 0 31 0 1 38 1 0 0 0 0 0 1 1 0 0 0 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X HEATHER KANTOR 6508547696 222 HIGH STREET PALO ALTO CA 94301 Mark Wan 3.50 X X 0 0 0 Norman E Matteoni 1.20 X X 0 0 0 Steve Blank 1.90 X 0 0 0 Donna Dubinsky 2.10 X 0 0 0 Jan Garrod 1.80 X 0 0 0 Larry Jacobs 2.20 X 0 0 0 Charlene Kabcenell 1.80 X 0 0 0 Robert C Kirkwood 2.20 X 0 0 0 Dianne McKenna 1.80 X 0 0 0 Paul Newhagen 2.50 X 0 0 0 Brad O'Brien 2.50 X 0 0 0 Sandra Thompson 2.20 X 0 0 0 Karie Thomson 1.80 X 0 0 0 Audrey Rust 40.00 X X 284061 0 30245 Walter T Moore 40.00 X X 219487 0 15352 Karen Douglas 15.00 X 44984 0 19678 Anne Trela 40.00 X 143840 0 20668 Marc Landgraf 40.00 X 102266 0 12882 Daphne Muehle 40.00 X 100847 0 12979 895485 0 111804 5 0 1 0 0 4031452 4031452 Rental Income 531390 401291 401291 misc program income 900099 104782 104782 lecture series income 611600 37352 37352 543425 3493354 3493354 63704690 68901874 -5197184 -5197184 -5197184 2871047 543425 0 -1703830 1595000 1595000 672979 295921 183811 193247 1523050 616805 136437 769808 86998 37450 5526 44022 116781 61401 55380 99710 40652 9127 49931 23393 21462 493 1438 42118 42118 400000 400000 307921 307921 638831 279734 32285 326812 208990 75995 38035 94960 8477 8477 18123 9100 1549 7474 14294 6024 3968 4302 81365 81365 115528 65285 10282 39961 79997 57596 4584 17817 Loss on property 674200 674200 Land Maintenance 321675 321675 Donor/Volunteer Recogni 232011 166103 65908 land easements 185365 185365 Property Taxes 128264 127082 1182 127905 53757 27099 47049 7702975 5099084 885782 1718109 11035224 711237 1717432 1790598 7702045 7599902 15685211 13622500 203322 93939 6170923 498827 5780330 5672096 30338927 85992240 27540153 14280823 129502495 102060135 229505139 231823470 617972 510745 4418860 3838795 3981775 8875627 4492520 X 214487366 221252930 5591646 5502520 550500 575500 220629512 227330950 229505139 231823470 X 0 1 1 X 0 X 9535665 18849946 21630648 14082464 4031452 68130175 9535665 18849946 21630648 14082464 4031452 68130175 17210844 50919331 4426948 7909358 5577256 4948168 3999427 26861157 94991332 0.53600 0.56870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 400000 400000 7227975 7627975 531399 132850 0 0 1000000 1000000 903596 531399 3434995 5152493 88000 318000 200000 400000 1006000 250000 250000 225899 132850 858749 1288124 X X X 28 11670.01 1 1 1 2180.00 2153 0 470118 25000 60916 556034 1.00000 0 0 2351899 2351899 3522523 293544 3228979 152789 139364 13425 143712 65919 77793 5672096 Investment in alternative investments 10023188 F Investments held in CRT 4257635 F 14280823 Other receivable 38156 Asset Obligation 433304 Land held for conservation 101176675 Property held for sale 412000 102060135 Agency Trust Funds 570734 Liability under CRUT 2505149 Conditional asset retirement Obligations 905892 3981775 2871047 7702975 -4831928 11533366 11533366 6701438 14142745 11533366 46253 -307921 11271698 2871047 0 2871047 7441307 46253 -307921 -261668 7702975 0 7702975 Part X: Description of Uncertain Tax Positions Under FIN 48: The Organization evaluates its uncertain tax positions and will recognize a loss contingency when it is probable that a liability has been incurred as of the date of the financial statements and the amount of the loss can be reasonably estimated. The amount recognized is subject to estimate and management judgment with respect to the likely outcome of each uncertain tax position. The amount that is ultimately sustained for an individual uncertain tax position for all uncertain tax positions in the aggregate could differ from the amount recognized. As of June 30, 2010 management did not identify any uncertain tax positions. Part XII, Line 2d - Other Adjustments: Investment Management Fees: -307921. Part XIII, Line 2d - Other Adjustments: Investment Management fees: -307921. 1 Land trust of santa cruZ countY 617 Water STreet santa cruz CA 95062 942431856 1500000 APPRAISAL LAND PROTECTION OF OPEN SPACE San mateo county department of parks 455 County center 4th floor redwood city CA 94063 946000532 20000 fMV LAND PROTECTION OF OPEN SPACE california council of land trustS 1029 K street Suite 48 sacramento CA 95814 010826246 75000 TRAIN AND SUPPORT LAND TRUSTS 1 2 X X X X 0 0 0 0 0 0 0 0 0 Audrey Rust 284061 0 0 0 0 0 17150 0 13095 0 314306 0 0 0 Walter T Moore 219487 0 0 0 0 0 15352 0 0 0 234839 0 0 0 Anne Trela 143840 0 0 0 0 0 10395 0 10273 0 164508 0 0 0 Larry Jacobs Director of POST 15600 See Sch. O Contract between director Larry Jacobs of Jacobs Farms and POST to lease 52 acres in FY 2010 for organic farming. 0 Audrey Rust President of POST 75000 See Sch. O AUDREY RUST SERVED AS A DIRECTOR OF THE CALIFORNIA COUNCIL OF LAND TRUSTS TO WHICH POST MADE GRANTS TO DURING FY 2010 0 X 1 412000 fmv 0 1 0 Form 990, Part VI, Section B, line 11 Each year, prior to submission, the Audit Committee shall ensure that POST'S FORM 990 IS REVIEWED BY A MEMBER OF THE COMMITTEE OR A DESIGNEE OF THE COMMITTEE WITH APPROPRIATE QUALIFICATIONS. IN ADDITION, THE DRAFT SUBMISSION will bE MADE AVaiLABLE TO THE BOARD FOR REVIEW AND COMMENT. Form 990, Part VI, Section B, line 12c When joining the organization's board or staff, and on an annual basis, board members, members of the finance and audit committee not currently serving on the Board, and top staff fill out a conflict of interest statement. If a change in a person's material interest in a matter that could affect POST occurs, that person must amend the conflict of interest statement. All disclosure statements shall be submitted to the President and filed with the minutes. The Chair of the Board Governance Committee and President shall review these statements within a month of their submission date. Form 990, Part VI, Section B, line 15 THE BOARD OF DIRECTORS COMPENSATION COMMITTEE IS CHARGED WITH RECOMMENDING TO THE BOARD OF DIRECTORS A COMPENSATION PACKAGE, INCLUDING BASE SALARY, BENEFITS, AND RETIREMENT CONTRIBUTIONS, FOR THE PRESIDENT. WHEN CONSIDERING THE COMPENSATION PACKAGE, THE COMMITTEE REVIEWS COMPENSATION OF EXECUTIVES OF COMPARABLE NON-PROFIT ORGANIZATIONS LOCALLY AND THROUGHOUT THE UNITED STATES. THE BOARD OF DIRECTORS APPROVES THE RECOMMENDED COMPENSATION PACKAGE ON AN ANNUAL BASIS BEFORE THE START OF THE FISCAL YEAR OR BEFORE THE EFFECTIVE DATE OF ANY CHANGE IN COMPENSATION. Form 990, Part VI, Section C, line 19 FORM 990 IS AVAILABLE UPON REQUEST AND ON GUIDESTAR.ORG. ALL OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. Form 990 Part XI Line 2c Audit committee oversight The Organization has and audit committee that has oversight of the audit and the independent auditors. This process has not changed from prior year. LAKE LUCERNE MUTUAL WATER COMPANY 222 HIGH STREET PALO ALTO CA 94601 942689518 DISTRIBUTION OF WATER CA 501(C)(12) 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 LAKE LUCERNE MUTUAL WATER COMPANY D 38156